On this episode, George Laughton, leader of a top US team with 200 agents and $900 million-plus in volume, unveils his Reverse Offer Playbook for saving canceled listings.
The cash offer platform hired former WarnerMedia executive Chris Carpenter as COO, but expects 'heightened seasonality' through the winter months in targeting a return to a near-term goal of 1,000 transactions per quarter.
Christy Schwartz, the iBuyer’s longtime chief accounting officer, was named interim CFO. She’ll replace Selim Freiha, who served as CFO for less than a year.
The old paradigm of iBuying is over, Revaluate's Chris Drayer writes. Whatever happens next may put real estate agents back at the center of the transaction.
Nejatian has a background as a lawyer, and most recently helped build teams and products at Shopify since 2019. His appointment follows Carrie Wheeler's resignation last month.
After a stock rally and CEO ouster, investors are turning their attention to what’s next for Opendoor. Some say the company must work with agents. Others disagree.
Investor Eric Jackson takes credit for leading retail investors to buy a stock that was worth 51 cents a month ago. Next, he wants to join the board of directors and oust CEO Carrie Wheeler.
Opendoor managed to increase its revenue and cut its losses in a reassuring sign for investors just a few months after the iBuyer was at risk of being delisted from the stock market. However, the company also said it expects lower acquisition and resale volume for the rest of the year, due to macro-economic factors.
Offerpad's revenue declined 36 percent year-over-year to $160.3 million in Q2. However, its net losses declined 21 percent to $10.9 million.
While shares in rival iBuyer Offerpad also went on a rollercoaster ride in July, the company's market capitalization remains below the New York Stock Exchange's $50 million minimum requirement.
Both of the money-losing iBuyers had been warned they could face delisting, but investors have taken a fancy to the companies — which have both posted triple-digit gains in July.
Opendoor, which posted a $392 million 2024 net loss and faced delisting from the Nasdaq Stock Market, is hoping to reach more sellers through partner real estate agents.