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
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
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
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
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
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
Toronto iBuyer raises $44M with help from Spencer Rascoff, Eric Wu
Properly is a tech-based real estate brokerage in Canada with a model similar to US iBuyers like Opendoor and Zillow Offers
by Libertina Brandt Jul 21
Opendoor is just 1 market away from reaching 2021 expansion goal
Opendoor launched new operations in Birmingham and Indianapolis, according to an announcement Tuesday. The iBuyer said it would be in 42 markets before the end of 2021
by Marian McPherson Jul 21
Opendoor's mortgage attach rate jumps, but at what cost? Mike DelPrete
For any company attempting to generate profits from adjacent services, and there are a lot, mortgage remains hard. It is no panacea for profitability
by Mike DelPrete Jul 22
Huge number of homeowners willing to consider an iBuyer: Poll
82% of homeowners in 1000watt survey said they either were more likely to trust information from Zillow than from a real estate agent or to trust them about the same
by Andrea V. Brambila Jul 28
IBuyers are paying above market — and reselling for more: Mike DelPrete
Home prices are record high, and iBuyers are paying above market values for the houses they buy, but they're also reselling them for more than ever before
by Mike DelPrete Aug 11
Opendoor reports $1.2B in revenue, beats expectations in Q2
The iBuyer also experienced a loss of $144M between April and June and sold a total of 3,481 homes
by Jim Dalrymple II Aug 11
Opendoor looking to raise up to $862.5M in new debt
The debt offering — in the form of senior convertible notes that mature in 2026 — will include a $750M private offering to qualified institutional investors
by Matt Carter Aug 17
Opendoor launches self-guided virtual walk-throughs for sellers
Homesellers using Opendoor can now complete their interior home inspection through uploaded videos and photos, according to a company announcement on Tuesday
by Marian McPherson Aug 26
Opendoor acquires 2 home renovation startups
The iBuying giant will keep the teams and technology from Skylight and Pro.com, but it will discontinue the brands themselves
by Jim Dalrymple II Sep 7
Falling home price appreciation threatens iBuyer profits: DelPrete
IBuyers are closer than ever to profitability. But the overwhelming majority of profits are coming from record home price appreciation, which won't last and is on the decline
by Mike DelPrete Sep 8
Offerpad stock surges on second day of trading as iBuyers see gains
The iBuyer's stock spiked 27% on Tuesday before settling back down to $10 per share as investors continued to show interest in companies that make direct cash offers for homes
by Daniel Houston Sep 8
Opendoor surpasses 42-market expansion goal 4 months early
With the rollout of services in Washington, D.C., Cleveland and Columbus, Opendoor has officially accomplished its expansion goal set in March
by Marian McPherson Sep 14
Meet the Opendoor executive shaping the iBuyer narrative
As Opendoor's Chief Customer Officer, Megan Meyer Toolson is putting the company's customer at the forefront of everything and sharing the iBuyer's story with agents and brokers
by Lillian Dickerson Sep 20
Opendoor launches partnership with new-home platform BDX
Thanks to a partnership with Builders Digital Experience, homeowners can request an Opendoor cash offer through new home search platform NewHomeSource.com
by Marian McPherson Sep 23
Opendoor and FTC still at odds over iBuyer's advertising
Regulator threatened 'enforcement action' related to allegedly 'inaccurate' or 'inadequately substantiated' advertising claims if settlement talks fail
by Andrea V. Brambila Sep 27
Opendoor boosts homebuying power with $9B borrowing limit
Opendoor is on the hunt for more funds, according to a Bloomberg report. The iBuyer's new debt facility agreement will boost its borrowing power to $9B
by Marian McPherson Oct 7
As Zillow pumps brakes on buying, other stunned iBuyers forge ahead
Zillow says it's facing supply and labor constraints. But other iBuyers, who expressed surprise over Zillow's abrupt pause, say they aren't suffering from the same issues
by Jim Dalrymple II Oct 18
Opendoor to make iBuyer offers on listings in real time at realtor.com
Users of realtor.com will now be able to see a preliminary offer from Opendoor in real time via the search portal's My Home dashboard, it was announced Wednesday
by Lillian Dickerson Oct 27
Opendoor plans to hire nearly 100 tech engineers in Canada
The new team members will be based in Toronto and will work on financial platforms and technology infrastructure
by Jim Dalrymple II Nov 2
Zillow stocks plunge as competing iBuyers hang steady amid chaos
Thirty minutes into trading on Wednesday, Zillow Group's stock was down about 16.6 percent to around $70.55 per share
Zillow exits iBuying: 5 things you should know
Opinion
This move that has significant implications for the real estate industry. Here's why
by Mike DelPrete Nov 3
These venture capitalists predicted Zillow Offers' demise
Opendoor co-founder Keith Rabois and 'The Big Short' investor Steve Eisman predicted the end of Zillow Offers as soon as it began. What did they see that others didn't?
by Marian McPherson Nov 4
Opendoor launches new end-to-end consumer platform
Opendoor Complete will let consumers track their transactions and coordinate both home sales and purchases from one location
by Jim Dalrymple II Nov 4
Opendoor co-founder slams Zillow, calls portal's tech 'horrible'
Keith Rabois also said on Twitter Wednesday that he expects Zillow to suffer 'even greater losses than they admit'
by Jim Dalrymple II Nov 4
No, BlackRock isn't buying up all of Zillow's homes
Zillow's ill-fated iBuying venture drew detractors online before the program collapsed. But as the company races to unload 18,000 homes, were they right about where it's headed?
by Daniel Houston Nov 5
Inman Top 5: The biggest stories of the week Oct. 29 - Nov. 5, 2021
Catch up quickly on the most significant stories of the week, as determined by Inman readers. Here's this week's Inman Top 5
by Inman Nov 5
Opendoor acquires digital mortgage company RedDoor
San Francisco-based RedDoor has developed a quick pre-approval process for consumers and will see its products integrated into the iBuyer's lending services
by Jim Dalrymple II Nov 5
What to expect as Compass, Opendoor, Offerpad and Keller Williams release earnings today
How will Opendoor and Offerpad respond to Zillow bowing out of iBuying? How is Compass faring as a fledgling public company? And is Keller Williams nearing an IPO?
by Lillian Dickerson Nov 10
Zillow raced to catch up with Opendoor in a secret initiative called ‘Project Ketchup’: Report
Zillow may have damaged relationships with repair contractors in its race to gain market share from rival iBuyers, Business Insider reports
by Daniel Houston Nov 9
Zillow or not, Opendoor revenue skyrockets 91% to $2.3B in Q3
IBuying giant Opendoor posts another strong quarter as CEO Eric Wu expresses confidence in the company's strategy and path.
by Marian McPherson Nov 10
Seasonality is back, iBuying is alive, and other big earnings takeaways
This week saw a flood of real estate company earnings reports. Overall, they indicate the market is well-positioned and maybe returning to some semblance of normalcy
by Jim Dalrymple II Nov 11
Zillow Offers is dead. But Zillow (and iBuying) is here to stay
At Connect Now on Tuesday, real estate analyst Mike DelPrete shared with Brad Inman where Zillow went wrong with Zillow Offers and what 'Zillow 3.0' could look like
by Marian McPherson Nov 16
Spencer Rascoff: The transaction facilitator category needs a rebrand
Rascoff: iBuying will survive without Zillow, but companies that 'take the friction out of transactions' need a new name for their services
by Matt Carter Nov 16
'IBuyers have never been bigger': Mike DelPrete
Opinion
Seasonality and the Zillow exit will certainly impact this, but for the time being, iBuyers are at an all-time high, with Opendoor leading the pack
by Mike DelPrete Nov 17
Power Buyers: What to know about real estate’s buzziest new buyer tools
The innovation wave has hit the buy-side, with Power Buyers emerging as this year's buzziest business model. Here's everything you need to know to power up your clients' purchasing prowess
by Marian McPherson Nov 29
2022 will be pivotal for Offerpad as it competes for the iBuyer crown
With the implosion of Zillow Offers in October, all eyes will be on Opendoor and Offerpad as they duke it out for marketshare in 2022. Here are the biggest challenges Offerpad faces next year
IBuyers net record-high sales in Q3 amid skyrocketing purchase volume
Phoenix homeowners unloaded a mind-blowing $1.47B worth of housing stock to an iBuyer in the third quarter, the first instance an individual housing market has exceeded $1B in iBuyer sales
by Marian McPherson Dec 7
Opendoor in 2022: As the king of the iBuyers grows, so does its risk
Opendoor faces an array of challenges from other companies and sectors as it aims to hold its position as the biggest and most successful iBuyer in the world
by Jim Dalrymple II Dec 9
California Regional MLS launches venture fund, invests in Perchwell
CRMLS CEO Art Carter says the fund will serve agents' and brokers' need for 'high-quality technology that enables them to do their jobs without worrying about how their data gets used'
The 6 tech trends that defined real estate in 2021
Finally, COVID-19 wasn't at the heart of the year's prevailing real estate technology trends. Instead, 2021 was marked by notable acquisitions and the fallout from the biggest of them all
by Craig C. Rowe Dec 10
Real estate in 2021 was weird, wild and always unpredictable
The year saw explosive rivalries, wild stock market performances and plenty of rage
by Jim Dalrymple II Dec 13
Opendoor vs. Zillow: Pricing is a 'competitive advantage for iBuyers'
Opinion
A comparison of Zillow Offers and Opendoor highlights the critical importance of pricing in iBuying. There's an understated elegance in the detail; it's not just buying low and selling high. But what makes for a successful pricing operation?
by Mike DelPrete Dec 20
News Quiz: Test your knowledge of real estate's biggest stories of 2021
Acquisitions, spats, implosions and brawls: As the year wraps up and real estate professionals wish for the best in 2022, test your knowledge of the biggest real estate stories of 2021
by Inman Dec 31
All the biggest challenges facing all the biggest companies in real estate
As Inman's '5 Challenges' series wraps up, take a look back at how Keller Williams, Compass, Zillow and 6 other major players will contend with low inventory, rapid growth and more in 2022
by Jim Dalrymple II Jan 2
Offerpad's market cap slips below $1B amid slide on Wall Street
Stocks slid for major iBuyers and tech companies on Wednesday, continuing a difficult start to the year on Wall Street for Offerpad
by Taylor Anderson Jan 19
Offerpad stock reaches lowest level ever on Wall Street before rebound
It’s not the only publicly traded real estate brand to face headwinds in the market in January, but it is leading the pack
by Taylor Anderson Jan 28
How to make sense of iBuying in 2022, post-Zillow
IBuying has existed for years, but it's growing faster than ever and now approaching the scale that could finally make it profitable
by Jim Dalrymple II Feb 2
How real estate agents can work with Offerpad
For agents looking to enter the iBuyer market or merely up their iBuyer game, Offerpad is but one choice for a partner. Here's what agents who want to work with the iBuyer should know
Opendoor launches in California's pricey Bay Area
The launch brings the world's biggest iBuyer to one of the world's most challenging real estate markets — and marks a new chapter for the iBuying concept
by Jim Dalrymple II Feb 8
News Quiz: Do you know the biggest stories for the week of Feb. 6?
Keller Williams, eXp Realty, Opendoor and Zillow all made headlines this week. Test your knowledge of the biggest stories to see if you're up to date on the industry in February
by Inman Feb 11
Use these 5 iBuyer marketing campaigns to skyrocket your lead generation
Power Buyers can turn buyers who need financing or a contingent sale into cash buyers. They can also turn renters into homeowners
by Bernice Ross Feb 10
How real estate agents can work with Opendoor
Some agents use the iBuying leader as a tool to help clients find the best path for their needs. Here’s how to get started
by Taylor Anderson Feb 14
How iBuyers, Power Buyers can be a Cinderella story for homebuyers
When agents truly care about their customers, they can't be afraid of trying new things, Jackie Soto, broker at eHomes, told Brad Inman during an Inman Connect Now panel on Thursday
by Lillian Dickerson Feb 17
How real estate agents can work with RedfinNow
Redfin's iBuyer, RedfinNow, forgoes incentives for agents but offers a dedicated customer service team and local title options. Here’s how to get started
by Daniel Houston Feb 22
Opendoor revenue rises more than 1,400% in Q4, but losses mount too
The iBuying giant earned $3.8B in revenue between October and December last year. The latest numbers highlight the uniqueness of Opendoor's growth strategy
by Jim Dalrymple II Feb 24
IBuyers purchased over 70K homes in 2021, doubling previous record
'IBuyers purchased 70,402 homes in 2021, more than double the previous annual high of 32,726 homes in 2019,' according to Zillow's Q4 iBuyer report
by Taylor Anderson Mar 2
Offerpad expands California reach with Sacramento entry
The iBuyer’s newest market comes just two weeks after its first launch in the Golden State, where it is avoiding costlier coastal cities
by Taylor Anderson Mar 3
Spencer Rascoff is bullish on iBuying. Here’s why
Ahead of Inman Connect New York, the former Zillow CEO and 'serial entrepreneur' spoke about how he leads teams, the value of Pacaso and why he's sticking with iBuyers
by Taylor Anderson Mar 8
Inman Connect Now Series
Tim Heyl shares his insights on what's ahead and how to prepare at Inman Connect Now
by Jodie Cordell Mar 16
Opendoor cashes in on record home price appreciation
Opinion
Home price appreciation is through the roof, and that's good news for Opendoor. Its current listings are averaging 17% increases over the purchase price
by Mike DelPrete Mar 23
It’s time to ditch mortgage lending’s outdated appraisal model
Opinion
It’s time for the mortgage lending industry to move to an AVM-based appraisal model. There is too much room for error, especially in today's super-fast-paced market
by Bernice Ross Mar 31
Opendoor brings iBuying services to New Jersey, New York state
The move will see Opendoor make cash offers in 17 counties in the two Northeastern states. New York City is not included in the expansion. It also brings Opendoor's market count to 46
by Jim Dalrymple II Apr 5
Opendoor disciplined in North Carolina for disclosure lapses
Regulators say the iBuyer misrepresented a home and didn't get the proper permits for another. Its license was suspended for 18 months, but the NCREC has stayed the suspension
by Jim Dalrymple II Apr 5
Power Buyer clients made 1 offer on average. Traditional buyers? 7
A new report from Power Buyer and iBuyer marketplace zavvie says that Power Buying 'could eventually become the norm,' citing its success in helping buyers quickly purchase a home
by Marian McPherson Apr 13
Opendoor launches in Detroit and Southwest Florida
The iBuyer is also deepening its market reach in the Portland, Oregon, area following an expansion last month into the Northeast
OfferPad for sale sign
The company's expansions come on the heels of its second straight profitable quarter.
by Ben Verde May 5
Opendoor reaches first profitable quarter in Q1 with $28M net income
After 8 years, California-based iBuyer Opendoor reached profitability while logging a new revenue high of $5.2B, according to an earnings report released Thursday
by Marian McPherson May 5
Brokerages push back on NAR ad campaign targeting 'competitors'
The trade group highlighted its own members — including Zillow, Compass, Redfin, Homie, Opendoor and Offerpad — among those whom it's competing with for consumer mindshare
by Andrea V. Brambila May 12