Offerpad confirms layoffs after ‘restructuring’ amid down market
The iBuyer declined to confirm how many employees have been let go. Recent SEC filings show widespread cuts compared to a year earlier
by Taylor Anderson Aug 9
Offerpad launches transaction oversight portal for agent partners
Powered by Offerpad enables the iBuyers's PRO and MAX agent partners to manage listings, get real-time transaction updates and directly communicate with Offerpad support staff
by Marian McPherson Aug 8
Offerpad trims Q2 loss, but sales and revenue continue to slide
Shares in Offerpad hit new all-time low in after-hours trading Monday after the iBuyer reported that it continues to trim its losses but expects further declines in revenue and homes sold in Q3
by Matt Carter Aug 5
Opendoor's revenue declines as losses also grow in second quarter
The iBuyer's revenue declined 24% year over year to $1.5B as losses hit $92M, down from positive income of $23M the previous year
Black homesellers get better offers with iBuyers, but there's a catch
A University of Washington study revealed iBuyers give Black homeowners better offers than they receive on the open market. However, those offers potentially come with some longterm tradeoffs
by Marian McPherson Jul 26
opendoor
Agents with My State MLS membership will be able to receive cash offer estimates on properties that qualify within minutes
by Ben Verde Jun 14
Opendoor rolls out mobile truck with instant offers in Nashville
'The Offer Mobile' is driving around neighborhoods in Nashville, Tennessee, to literally bring Opendoor's instant offers to consumers' front doors
Offerpad gets new CFO as stock hovers near record low
Peter Knag joins the company in the middle of a rough real estate market, and when iBuying specifically appears to have lost some of its buzz
by Jim Dalrymple II May 24
Offerpad posts a decline in annual revenue, but improves Q1 losses
The iBuyer lost $17.5M between January and March, according to an earnings call Monday afternoon. However, that represents a 71% improvement compared to a year earlier
by Jim Dalrymple II May 6
Opendoor revenue dips and losses rise amid Q1 transaction slump
Opendoor drew $1.2B in revenue between January and March, according to first-quarter earnings released Thursday. The new numbers reflect a tough market, but also some hope for the iBuyer
by Jim Dalrymple II May 2
Single-family home sales to investors hit all-time high
United States property investors are putting the pedal to the metal and feeling optimistic despite a turbulent housing market
by Ben Verde Apr 11
Opendoor's partnership with eXp officially goes live
The companies' integrated technology will streamline the process to make Opendoor cash offers available to eXp's tens of thousands of agents
by Jim Dalrymple II Feb 29
Offerpad narrows Q4 loss, expects to be back in black later this year
The iBuyer expects to sell between 750 and 850 homes during Q1 2024, generate $245M to $285M in revenue and achieve positive adjusted EBITDA earnings later this year
by Matt Carter Feb 26
Offerpad PRO, MAX programs center incentives on agents
Offerpad provides sellers a unique way to transact through a fast, tech-enabled cash offer, with benefits like post-closing stay-over period, free local relocation and ability to choose closing date
by Craig C. Rowe Jan 31
Tracking the housing recovery? These 12 dates offer crucial clues
Intel is highlighting the most important data releases and events slated for each month of 2024 in an effort to help industry observers follow the arc of residential real estate's rebound this year
by Chris LeBarton Jan 24
Flyhomes announces 3rd round of layoffs since 2022
The Seattle-based brokerage and mortgage lender announced another round of layoffs on Friday. Flyhomes had layoffs in July and November 2022, with one round impacting 20% of its workforce
by Marian McPherson Dec 19
Opendoor founder Eric Wu leaving company to focus on startups
Wu founded Opendoor in 2014 and served as the company's chief executive officer until last year. He said in a statement that he's leaving to focus on building new things
by Jim Dalrymple II Dec 15
Real estate CEOs: Big impact from commission suits 'improbable'
The bombshell verdict of Sitzer | Burnett rocked the real estate industry, but recent earnings reports suggest many of its most recognizable CEOs don't anticipate major disruptions
by Jim Dalrymple II Nov 17
Opendoor to double the number of homes it buys each month: CEO
CEO Carrie Wheeler told Intel that Opendoor wants to purchase 2,000-plus homes per month and that the company is leaning into partnerships like the ones it has with Zillow and eXp
by Jim Dalrymple II Nov 8
Opendoor can't hang on to profitability as Q3 revenue craters
The iBuyer saw revenue fall 71% year over year in the 3rd quarter of 2023. The company also lost $106M — a reversal from Q2's net profit
by Jim Dalrymple II Nov 2
Offerpad to partner with Anywhere agents outside of market area
Sellers located outside of Offerpad markets who contact the iBuyer for services will be connected with eligible agents in the Anywhere Leads Network
by Lillian Dickerson Oct 26