Tag Archives: ibuyer

Zillow and Opendoor expand partnership to 11 new markets

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The former rivals are now jointly providing cash offers to consumers in a total of 16 markets, most of them spread out across the Sunbelt. Continue reading →

Zillow appoints new CFO amid push to build ‘housing super app’

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Jeremy Hofmann has played a key role in the super app push so far and also oversaw Zillow’s acquisition of ShowingTime, the company said. Continue reading →

Real estate stocks are suddenly and finally on fire

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Redfin, Opendoor and Compass have all seen their share prices rally in recent days — suggesting that after years of the cold shoulder investors are warming to the sector. Continue reading →

Mike DelPrete breaks down iBuyer Opendoor’s effort to right the ship

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The dominant iBuyer has taken extraordinary steps to survive this period of upheaval, writes real estate analyst Mike DelPrete, who dug deeper into last week’s Q1 earnings exclusively for Intel. Continue reading →

Opendoor steers clear of epic 2022 losses in Q1, but revenue remains down

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The iBuying giant saw revenue dip 39 percent year over year at the beginning of 2023, according to a Q1 earnings call Thursday. It also sold and bought fewer homes compared to the beginning of 2022. Continue reading →

Zillow begins ‘critical’ year with mounting losses, falling Q1 revenue

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Zillow brought in $469 million in revenue, according to an earnings call Wednesday, falling 13 percent from the $536 million it brought in a year earlier during a period that preceded the rate hikes and sluggish sales. Continue reading →

Eyes on inventory as Q1 earnings ramp up following a chilling 2022

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Jay McCanless, a senior vice president of equity research at Wedbush Securities, reveals what he’ll be watching as publicly traded real estate companies post Q1 earnings this week and next. Continue reading →

Opendoor lays off 22% of its workforce in latest round of cuts

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In total, the company cut 560 positions, according to a statement Opendoor provided to Inman. The cuts, which were announced internally Tuesday morning, primarily focused on operations roles. Continue reading →

As iBuyers struggle, agents rethink relationships with cash-offer kings

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IBuyers like Opendoor and Offerpad once appeared poised to be an essential player in the nation’s biggest housing markets. Now, real estate agents say their role has diminished dramatically. Continue reading →

Mike DelPrete on the perils of hurting for cash in a down market

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Big brokerages and emerging disruptors alike dipped into savings as revenues declined late last year. Industry analyst Mike DelPrete spoke exclusively to Intel about the options at their disposal. Continue reading →