The companies' integrated technology will streamline the process to make Opendoor cash offers available to eXp's tens of thousands of agents
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
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
The iBuyer reported Q3 earnings Thursday, with revenues declining 71% YOY to $234.2M. Offerpad dramatically slimmed losses and is on track to reach Adjusted EBITDA profitability by 2024
Sellers located outside of Offerpad markets who contact the iBuyer for services will be connected with eligible agents in the Anywhere Leads Network
The biggest publicly traded brokerages and tech companies significantly slashed losses in the second quarter, restoring investor confidence, according to an Intel analysis of Q2 earnings data
Having unloaded almost all of its older inventory, the iBuyer ramped up home acquisitions by 131%, to 840 homes, in the second quarter of 2023 and expects positive adjusted earnings by year's end