Zillow announced Tuesday that it is exiting its iBuyer business, Zillow Offers. After racking up over $1 billion in losses over 3.5 years, Zillow is closing the business down, a move that has significant implications for the real estate industry. Continue reading
Thirty minutes into trading on Wednesday, Zillow Group’s stock was down about 16.6 percent to around $70.55 per share. Continue reading
Access to too much capital often blurs good real estate investor judgment. Over-leveraged investors can easily lose everything. Continue reading
The popular portal raked in $1.7 billion during the third quarter of 2021, though it also lost $328 million — much of it from iBuying. Continue reading
The new team members will be based in Toronto and will work on financial platforms and technology infrastructure. Continue reading
Glenn Kelman said Wednesday at Inman Connect that many agents expect iBuyers to grow. He isn’t so convinced, but does see disintermediation as a real issue. Continue reading
Entrepreneur Katie Finnegan is tasked with “simplifying the consumer experience without removing the personal relationship with an agent.” Continue reading
Within the context of long-term industry disruption, Zillow’s loss may simply be an embarrassing detour on its inexorable march to transform real estate. Continue reading
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. Continue reading
The publicly traded iBuyer has launched its services in the Columbus metro area, bringing its number of markets to 22. Continue reading