The business model is undoubtedly here to stay, but not without its recovery challenges
The former Zillow CEO touched on iBuying, real estate companies going public and 'global asset inflation' during a discussion at Connect Now
Redfin's iBuyer service now operates in 22 markets nationwide
The iBuyer revised its purchase requirements to include pricier homes, older homes and homes in age-restricted and gated communities
Available since April 1, Raveis Purchase enables homeowners to make a non-contingent offer on another property while benefiting from open market offers
Offerpad has chosen Indianapolis as its first Midwestern market. The iBuyer's full suite of services will be available this summer
In its first announcement since revealing its intentions to go public, Knock has furthered its footprint in the West and South with 7 new markets, for a total of 34 Home Swap markets
To help alleviate the stress of selling, Offerpad will now give sellers the option of remaining in a home up to 60 days after closing escrow
The well-connected discount brokerage is trying to raise more funding and grow its business as it takes on industry behemoths NAR and Zillow
Opinion
Customer acquisition costs for major iBuyers is roughly similar at $3,000-$4,000, which is about 2-4X more than Redfin
Opinion
Last year forced real estate agents to adapt in an ever-evolving landscape. Here are the top challenges agents face daily
Spencer Rascoff and Offerpad CEO Brian Bair spoke to Inman about the behind-the-scenes moves that led to Offerpad's decision to go public via a special purpose acquisition company
Opinion
The point is that Zillow and Opendoor are actively losing money to gain market share, and if you're in the real estate industry, concerning yourself with disruptors willing to lose billions is a good use of time
IBuyers purchased 0.3% of all homes sold across 418 US metro areas analyzed by Redfin during the fourth quarter of 2020, down from 0.8% of all homes sold the year before
Opendoor’s record-low selling costs dropped from 3% to 2.1%, which is likely the result of Opendoor continuing to push down buyer's agent commissions offered on its houses
'Our aim is to be a genuine digital marketplace, not to have any vested interest that might complicate that,' News Corp. CEO Robert Thomson said at Morgan Stanley's virtual conference. 'As you know, with house flipping, Zillow is renovating homes.'
Embracing change, technology and the evolution of our industry is the key to succeeding and remaining relevant as an agent. Do this consistently, and you will emerge as a leader in your marketplace
The company wants to double its total markets in 2021 but is eyeing a much bigger goal
In its first earnings report since going public, Opendoor posted a net loss of $286M in 2020 and $87M in the fourth quarter alone
The iBuyer platform is now live in a total of 12 US markets
Buyers will need to get pre-qualified with Opendoor Home Loans or another mortgage company. Then, Opendoor will pair the buyer with a real estate professional in their market
The move turns the Zestimate into an initial bid and is aimed at getting more consumers at the top of the funnel into the Zillow ecosystem
Bridge programs have lower service fees and alleviate seller worries about buying in an inventory-starved market, according to a new report from real estate tech firm Zavvie
Los Angeles represents Knock's largest market for its 'buy-now-sell-later' alternative mortgage model. It's expected to especially help buyers in the under $2M market be more competitive
In Atlanta, iBuyers paid buyer's agents 3% in 2019. In the fourth quarter of 2020, that dropped to 2.5%
To kick off Connect Now, Brad Inman invited Coldwell Banker agents Steve and Heather Ostrom to discuss the 'mega trends' of today and find out why they've stuck with their brokerage
The company is expanding the footprint of its direct-to-consumer homebuying platform in California and North Carolina
A new report from Opendoor also found that 75% of buyers would consider purchasing a home through an app
Previously an automated valuation model, the Zestimate will be a 'live offer' in many markets in 2021. The company also revealed that it's finally making money on the homes it buys and sells through Zillow Offers
The newly public company revealed in US Securities and Exchange Commission filings Tuesday that it expects to report $2.58B in revenue in 2020, down from the $4.7B in 2019
Opinion
What does Zillow's IDX shift mean for you and your business? Here are the answers to all your lingering questions
Megan Meyer Toolson, an employee of the real estate company since 2015, is being promoted to the new position
Noah Beddome, the latest addition to Opendoor's C-suite, will run the departments that protect consumer data
Opinion
The next time you encounter sellers who don't know if they should stage their property, sell it vacant or furnished, or do additional work, here's what to do
The chief executives of Zillow, Redfin, Realogy and more predict what's in store for the new year, including industry consolidation and even more technology acceleration
Opinion
A number of new real estate software products emerged in 2020 — some from new companies and others from established players. Here are nine of them that stood out
The coronavirus outbreak dominated headlines this year, but what industry-related events and changes made the news? Here are the top real estate stories from 2020, according to our readers
This year had it all: A presidential election, a stock market crash and rebound, and the busiest summer and fall in memory — all amid an unprecedented global pandemic
Following the official merger with Social Capital Hedosophia Holdings Corp. II, the well-funded iBuyer begins publicly trading as OPEN on the Nasdaq exchange Monday
COVID-19 may have led to increased tech acceleration, but technology was already reshaping the industry even before the pandemic struck
The real estate landscape has shifted over the years. Today, independent brokerages need to have a clear view of those changes and use their strengths to pivot and meet them. Here's how they can thrive in 2021
The company is expanding its iBuying, in-person and virtual touring and financing services across multiple US markets, according to an Opendoor blog post Thursday
A spin-off of Knock Swap, Knock Nest formalizes Knock's longtime leaseback option and allows homeowners to access home equity without the need to move
Redfin's iBuying program and ancillary services should continue to be important parts of the company's expansion. It'll also have to contend with flashy rivals and a fair housing lawsuit
The deal with New Home Star is a first for Offerpad, whose Homebuilder Alliance program counts more than a dozen direct builder partnerships but, until now, no sales firms
Total iBuyer purchases plummeted 82% year over year in Q3, according to the report
Opinion
As real estate deals continue to be handled online and at arm's length, wire fraud risk has nowhere to go but up. ClosingLock is aiming to stop it
Opinion
The iBuyer market share and transaction volumes isn’t a failure of the model, but rather a result of it
Steve Johnson joins Offerpad as chief operating officer, as the company expands its real estate offerings beyond iBuying
Aside from the challenges posed by COVID-19, the NAR Expo still faces a handful of other issues that stack the deck against it. Here are a few affecting the health of the event
Opinion
Atlanta-based OfferBarn is now WyzeGyde. It’s not often that an already worthwhile software product undergoes a substantial overhaul and comes out even better — but this one did.
EasyKnock CEO Jarred Kessler argued during Inman Connect Now Thursday that agents need to show that they're on the cutting edge
Zillow beat expectations, posting $657M in revenue in the third quarter and a net income of $40M
Opinion
Disruption in real estate is being led by companies — and shareholders — willing to bet and lose billions of dollars
Opinion
Consumer behavior, demand and expectations are going to reduce commissions — get ready
The changes are mostly in field offices across the country, with a few operations staffers being let go, a Zillow spokesperson confirmed to Inman
Three Keller Williams offices in central Florida will become Knock-certified as alternative lending company continues push toward 11 markets before year's end
Does the success of the iBuyer model come at the expense of the traditional real estate structure?
John L. Scott Real Estate, a brokerage with over 110 offices and 3,000 brokers across 4 states, has teamed with end-to-end iBuyer platform zavvie to create Instant Purchase Plus+
Opinion
Although no app is going to replace agents, the concern of disruption in the industry is real. And nothing seems to stoke those fears more than non-traditional ways of buying and selling a home
On Monday, Knock and EasyKnock filed lawsuits against each other alleging trademark infringement and unfair competition, among other allegations
The partnership with Aires, a global relocation services firm, will unlock Offerpad's myriad real estate solutions for its new partner's relocation clients
RedfinNow, Redfin's iBuyer platform, is now live in Sacramento, joining Inland Empire, Los Angeles, Orange County, Palm Springs and San Diego, the company announced Friday
Opinion
Most of the largest real estate disruptors are moving toward hiring agents for new brokerage services — that's nearly $35B in enterprise value pushing in this direction
Through Sure Sale, consumers can choose to list with an agent, sell to an iBuyer or opt for the company's home trade-in platform
Seeking to provide Canadians with a new option for buying and selling, Properly has been funded by U.S. proptech players Silicon Valley Bank and I80 Group
Spencer Rascoff is co-chairing a new special-purpose acquisition company and seeking a 'business that addresses a large market'
Opinion
Wherever you get your business from, focusing on your clients will be far more fruitful than worrying about what Zillow or anyone else is doing
Zillow's decision to hire its own agents for Zillow Offers is the latest in its shift to becoming a platform, according to a trio of Deutsche Bank analysts
Although the initial reaction to Zillow’s decision to bring representation for its own Zillow Offers transactions in-house was mixed, few real estate agents were surprised by the move
Starting in January 2021, Zillow Offers transactions will be managed by a salaried Zillow employee who is licensed to act as a real estate salesperson through Zillow Homes
For the second consecutive month, Deutsche Bank's research team raised its target stock price for Zillow. This time, it was fueled by its biggest iBuyer competitor going public
The homebuilder also said its move-up program with Opendoor 'is becoming an industry standard'
RedfinNow, Offerpad, Opendoor and Zillow only bought 880 homes in the second quarter of 2020, according to a new study by Redfin released Thursday
The direct-to-consumer homebuying and selling platform is live in Jacksonville, Florida
Board member and TPG Capital veteran Carrie Wheeler is joining the company as chief financial officer while Gautam Gupta is set to leave the company
A spokesperson for Opendoor clarified that the role will support the 'Home Reserve' platform that the iBuyer announced in May
IBuyers are buying homes again but with a more cautious approach. Once they prove they can survive the pandemic, they’ll still have to overcome the challenge of profitability
The move hints at how strongly real estate has bounced back during the pandemic, which is still ongoing and has prompted Opendoor to include virtual assessments for homes
The former Zillow CEO argued during Inman Connect Now that crises such as the current coronavirus pandemic "have a terrific silver lining for innovators and entrepreneurs"
'When consumers demand experiences, that’s when innovation happens,' Opendoor CEO Eric Wu said Tuesday during Inman Connect Now
Since pausing its homebuying platform in March, Zillow Offers is now operating again in all 24 markets, including Las Vegas, South Florida, Tampa Bay and Houston beginning Tuesday
The partnership allows consumers working with D.R. Horton the freedom of a flexible closing date and cash credits at close for eligible deals
The company is also adding a digital floor plan to all Zillow-owned listings
While most agents said they had never done a virtual listing presentation, 51% said they were very or extremely likely to in the next 6 months, according to a new W+R Studios survey
The partnership means agents using zavvie's technology can offer their clients the option of selling their home but continuing to live in it while looking for somewhere new
Dr. Regina Benjamin, the former surgeon general of the United States under President Barack Obama, discusses her role advising Zillow and the link between health and home
The new platform from realtor.com provides sellers with options from from Opendoor, EasyKnock, HomeGo and WeBuyHouses.com, as well as listing on the open market
Redfin CEO Glenn Kelman discusses the short- and long-term outlooks for RedfinNow in a chat with Austin Smith, the director of Millionacres
The home trade-in company, once lumped in with iBuyers, is charting a new course and partnering with agents to do it
The platform has extended the length of its guaranteed sale and allows homeowners to stay in their homes for longer if they sell through RealSure
The newest options for sellers — instant offers from iBuyers and a buy-before-you-sell bridge option — are nearly completely digital, and well-suited for a socially distant real estate industry, according to zavvie's co-founder
After the company's initial homebuying pause, Zillow is now buying homes in 20 of 24 Zillow Offers markets
The company, which focuses exclusively on dated and distressed properties, plans to use the funds to expand to new markets beyond Southern California
As of Friday, the company is now buying homes in Dallas, San Antonio, Los Angeles and Orange County, in addition to Austin, Denver and the Inland Empire in California
Loup Ventures Managing Partner Gene Munster believes that as people continue to move from urban areas to suburbs, Zillow will benefit from top-of-the-funnel engagement
Keller Williams will allow other investors to make all-cash offers on homes through Keller Offers, its iBuying division
Opinion
Opendoor and Offerpad will now list homes directly. Ultimately, this new service, still in the early stages and not fully rolled out, represents a way for iBuyers to make money without having to actually buy houses
The iBuyer platform is buying homes again in Atlanta, Dallas, San Antonio, Austin, San Diego and Sacramento
The iBuyer for brokerages announced on Monday its selection as a Preferred Alliance Program member of Berkshire Hathaway HomeServices and Real Living Real Estate
In multiple talk tracks at Tech Connect, leaders in sales, fintech and proptech all agreed on one thing: The COVID-19 pandemic has totally changed how people market, sell and buy real estate
Real estate tech strategist Mike DelPrete explains pre- and post-shelter-in-place market trends and how real estate agents can prepare for the future
The Redfin CEO said Wednesday the coronavirus pandemic is helping fuel changes in real estate imagery and consumer behavior
During Connect Now, Trulia co-founder and NFX Managing Partner Pete Flint explained what agents must do to stay relevant during the digital transaction revolution
The iBuyer is offering homeowners contact-free selling in Dallas-Fort Worth, Atlanta, Charlotte, Nashville and Tucson
Consumers can now choose a direct, quick-close sale or a more traditional listing process. The move may rankle many in the real estate industry, who have long worried about technology companies moving into the space traditionally served by real estate agents
The company resumed buying homes through Zillow Offers last week following a nearly 2-month pause due to COVID-19
The company is bringing on Regina Benjamin, the former US surgeon general, to consult on and develop new safety protocols as it returns to iBuying