This tactical move is by no means a sign that iBuyers will fail. Opendoor’s deep pockets allow it to weather the current storm and remain intact (albeit smaller)
Approximately 600 employees being laid off will reportedly get 16 weeks of benefits coverage and eight weeks of severance pay, 3 sources said
The president of a 200-agent boutique brokerage in Atlanta developed a solution for helping agents educate clients on the rise of iBuyers
Following in the footsteps of Redfin, Zillow and Opendoor, Offerpad has temporarily stopped making offers on homes due to safety concerns, effectively putting an end to the purchasing side of nearly all iBuyers nationwide for the foreseeable future
A spokesperson for the iBuyer said the company's priority is 'the safety and well-being of our customers, employees and the general public'
Today’s market environment will finally shine a light on how the iBuyer business model will react as consumer demand wanes, and there are certain recognizable advantages