Opendoor launches new referral rewards program for agents
Two years after launching its Agent Partner Program, Opendoor has launched another option for agents to earn commissions and bonuses from seller transactions
by Marian McPherson Jul 19
Real estate disruption is happening all across the globe: Mike DelPrete
On Wednesday, DelPrete released 'The 2021 Emerging Models in Real Estate Report,' which details emerging trends shaping the industry and the players putting the trends into action
IBuyers are entering the previously untouched Northeast market: Mike DelPrete
Billion-dollar disruptors are coming to the Northeast market, featuring new models like instant offers, cash offers and buy-before-you-sell programs. Are agents and brokers ready?
by Mike DelPrete Jun 28
IBuyer transactions return to near pre-pandemic levels
IBuyer purchases by Redfin, Zillow Offers, Opendoor, Offerpad and Bungalo rose 20% in the first quarter of 2021, but remained down year over year, according to new data
by Daniel Houston Jun 25
Millennials, baby boomers upbeat about current housing market
A large majority of Americans think now is a good time to buy and sell, though only a minority think the market will stay strong for another year
by Jim Dalrymple II Jun 23
Opendoor launches in 6 new cities, achieves sales milestone
In celebration of reaching 100,000 transactions, Opendoor has launched its largest group of new markets yet across the South, Midwest and Southwest
by Marian McPherson Jun 16
Opendoor CEO Eric Wu: Most online buyers still rely on agents
At Inman Connect on Wednesday, Wu told Brad Inman that while users are increasingly comfortable selling their homes directly online, most buyers still lean on agents
by Daniel Houston Jun 11
Offerpad is a more profitable flavor of iBuying: Mike DelPrete
Offerpad's latest financials strongly suggest that a less venture-funded, less tech-enabled, more real estate-focused, and less breakneck version of iBuying can be (almost) profitable
by Mike DelPrete Jun 10
Zillow's uphill battle to attach mortgages: Mike DelPrete
Opinion
Zillow's experience shows that adding ancillary services is a long, slow road that requires big investment, patience, and a smart, consumer-first approach
by Mike DelPrete May 26
Opendoor expands to 3 new markets across West, Midwest
Opendoor has launched homeselling operations in Kansas City, Colorado Springs and Northern Colorado. The iBuyer is 9 markets away from its 2021 goal
by Marian McPherson May 18
Opendoor bounces back in first quarter after pandemic-driven downturn
The beginning of 2021 was better for the iBuyer than the end of 2020, though it still has a ways to go before reaching its pre-pandemic levels
by Jim Dalrymple II May 11
5 movers and shakers driving Opendoor's growth
These are the executives behind Opendoor's post-IPO growth, which hinges on the company's goal of reaching 42 markets by the end of 2021
by Marian McPherson Apr 22
IBuyer purchases recover to pre-pandemic levels: DelPrete
The business model is undoubtedly here to stay, but not without its recovery challenges
by Mike DelPrete Apr 21
Opendoor expands homebuying pool to meet booming demand
The iBuyer revised its purchase requirements to include pricier homes, older homes and homes in age-restricted and gated communities
by Marian McPherson Apr 13
Opendoor hires new vice president of sales and support
Former GoDaddy and Sirius XM executive Shannon Hodges will lead the company's acquisition and resale growth goals as they aim to improve revenue post IPO
by Marian McPherson Apr 7
How much are iBuyers paying for customer acquisition?
Opinion
Customer acquisition costs for major iBuyers is roughly similar at $3,000-$4,000, which is about 2-4X more than Redfin
by Mike DelPrete Mar 24
'We're never going back to normal': Pete Flint on our digital future
To kick off Connect Now on Tuesday, Brad Inman and Trulia co-founder Pete Flint discussed the challenges and opportunities tied to the digitization of real estate
by Marian McPherson Mar 16
IBuyers continue to see massive financial losses: DelPrete
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
by Mike DelPrete Mar 10
Opendoor reveals ambitious expansion plans
The company wants to double its total markets in 2021 but is eyeing a much bigger goal
by Patrick Kearns Mar 4
Full impact of COVID-19 revealed in Opendoor's first earnings report
In its first earnings report since going public, Opendoor posted a net loss of $286M in 2020 and $87M in the fourth quarter alone
by Patrick Kearns Mar 4
Sellers choose 'buy-before-you-sell' offers 5X more than iBuyer offers
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
by Andrea V. Brambila Feb 25
Opendoor launches in San Diego and Asheville
The company is expanding the footprint of its direct-to-consumer homebuying platform in California and North Carolina
by Patrick Kearns Feb 18
More than 7 in 10 sellers say they'd consider an iBuyer: Opendoor
A new report from Opendoor also found that 75% of buyers would consider purchasing a home through an app
by Andrea V. Brambila Feb 17
Opendoor was one of SoftBank's 'golden eggs.' Is Compass the next?
The SoftBank Vision Fund saw gains of more than $12B in the third quarter as a number of its investments went public, according to an investor presentation Monday
by Patrick Kearns Feb 9
Opendoor's revenue plunged nearly 50% in 2020, according to SEC filing
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
by Patrick Kearns Feb 3
4 ways to embrace real estate's pandemic-induced digitalization
Opendoor Chief Product Officer Tom Willerer shared what the customer should expect after a year spent almost entirely online at Inman Connect
'2021 is going to be an insane year': Mike DelPrete's 5 megatrends
Mike DelPrete's 5 megatrends of real estate tech include the ongoing growth of new business models, a battle for adjacent services and one that might surprise you
by Craig C. Rowe Jan 26
Opendoor announces its first chief customer officer
Megan Meyer Toolson, an employee of the real estate company since 2015, is being promoted to the new position
by Patrick Kearns Jan 26
Venture capital firm Fifth Wall Ventures latest to launch a SPAC
The firm is raising $250M through its public offering with the goal of acquiring and taking public a startup, the company confirmed in an SEC filing on Wednesday
by Patrick Kearns Jan 21
Opendoor taps ex-Marine to run data security
Noah Beddome, the latest addition to Opendoor's C-suite, will run the departments that protect consumer data
by Patrick Kearns Jan 20
Inman Handbook: Paying attention to getting paid
Most agents today make commissions, but there are many ways those commissions can actually work
by Jim Dalrymple II Jan 18
How to price a listing in a red-hot seller's market
Opinion
Basing your price on comparable sales is usually a solid strategy. But what happens when you try to sell your own house in a red-hot seller's market with a broad range of comps? Here's one real estate pro's experience
by Bernice Ross Jan 13
Brad Inman's 21 predictions for '21
Opinion
Keller Williams will amp up its recruitment program, Zillow will acquire Opendoor, and nursing homes will die. These and 18 other predictions for 2021 from Inman's founder
by Brad Inman Dec 30
Everything that happened in 2020, the wildest year of our lives
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
by Jim Dalrymple II Dec 21
Opendoor makes public debut today
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
by Patrick Kearns Dec 21
SoFi, another SoftBank-backed unicorn, considers going public
SoftBank scored big with an initial public offering for DoorDash this week and stands to turn a profit on its Opendoor investment
by Patrick Kearns Dec 10
Opendoor starts publicly trading on Dec. 21
The company will be listed on NASDAQ under the ticker symbol 'OPEN'
by Patrick Kearns Dec 7
Offerpad partners with nation's largest private new homeseller
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
by Patrick Kearns Dec 3
Offers from iBuyers are getting weaker: zavvie report
Total iBuyer purchases plummeted 82% year over year in Q3, according to the report
by Patrick Kearns Dec 1
Opendoor and Zillow are losing tens of thousands on each iBuyer home: DelPrete
Opinion
Disruption in real estate is being led by companies — and shareholders — willing to bet and lose billions of dollars
by Mike DelPrete Nov 3
Who does Zillow fear? Not who you think
Opinion
A 33-year-old commercial real estate data company is scratching at the door of online residential real estate and could be on the scene by next year
by Brad Inman Nov 2
Former Citadel executive named as Opendoor's chief investment officer
Daniel Morillo is joining the iBuyer in the company's newly created CIO role
by Patrick Kearns Oct 23
The quiet iBuyer war on real estate commissions: DelPrete
Does the success of the iBuyer model come at the expense of the traditional real estate structure?
by Mike DelPrete Oct 19
SoftBank's Vision Fund is seeking startups to take public: Report
Rajeev Misra, the head of the Vision Fund, hinted that SoftBank is launching a special-purpose acquisition company, or SPAC, in an interview with Bloomberg
by Patrick Kearns Oct 13
DelPrete: Zillow hiring agents is the megatrend you can't afford to ignore
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
by Mike DelPrete Oct 8
Opendoor filing reveals FTC investigation over advertising
The S-4 filing with the SEC also gives a deep insight into Opendoor's revenue and losses through the first six months of 2019
by Patrick Kearns Oct 5
DelPrete: Opendoor's long, difficult and uncertain road ahead
In a highly contested and crowded field, the evidence suggests a long, difficult and uncertain road ahead
by Mike DelPrete Oct 5
Why Opendoor going public is a rising tide that could lift Zillow
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
by Patrick Kearns Sep 18
Lennar predicts strong home sales 'for the foreseeable future'
The homebuilder also said its move-up program with Opendoor 'is becoming an industry standard'
by Andrea V. Brambila Sep 16
Opendoor is officially going public
In an announcement Tuesday, the company revealed that it generated $4.7B in revenue in 2019 while selling more than 18,000 homes
by Patrick Kearns Sep 15
Opendoor in talks to go public via SPAC merger
Opendoor is reportedly in talks to go public in coordination with Social Capital Hedosophia Holdings Corp. II, a blank-check company that acquires and takes other companies public
by Patrick Kearns Sep 11
IBuyer purchases dropped 88% in Q2 as pandemic raged
RedfinNow, Offerpad, Opendoor and Zillow only bought 880 homes in the second quarter of 2020, according to a new study by Redfin released Thursday
by Patrick Kearns Sep 11
Opendoor makes changes to C-suite
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
by Patrick Kearns Sep 3
Opendoor is seeking real estate agents for 'Opendoor Brokerage'
A spokesperson for Opendoor clarified that the role will support the 'Home Reserve' platform that the iBuyer announced in May
by Patrick Kearns Aug 28
What's the future of iBuyers in light of COVID-19?
Opinion
Although no one knows exactly what the future holds for real estate, things seem particularly uncertain for iBuyers. Here's a look at the advantages and disadvantages these companies are facing as they navigate the current housing market
by Luke Babich Aug 28
DelPrete: iBuyer market share plummets, slow recovery ahead
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
by Mike DelPrete Aug 18
Opendoor resumes iBuying in all pre-pandemic markets
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
by Jim Dalrymple II Aug 18
Opendoor CEO: Despite COVID-19, iBuyers are 'full steam ahead'
'When consumers demand experiences, that’s when innovation happens,' Opendoor CEO Eric Wu said Tuesday during Inman Connect Now
by Patrick Kearns Aug 4