Tag Archives: ibuyer

Opendoor can’t hang on to profitability as Q3 revenue craters

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The iBuyer saw revenue fall 71 percent year over year in the third quarter of 2023. The company also lost $106 million — a reversal from Q2’s net profit. Continue reading →

For some sellers, cash offers can actually be a tool for listing agents

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Offerpad’s agent partnership program gives agents another tool when making listing presentations, and pays them a 3 percent referral fee when their client accepts an offer from the iBuyer. Continue reading →

Offerpad to partner with Anywhere agents outside of market area

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Sellers located outside of Offerpad markets who contact the iBuyer for services will be connected with eligible agents in the Anywhere Leads Network. Continue reading →

Zillow’s Samuelson: AI to create ‘once in a 200 years’ revolution

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Zillow’s Errol Samuelson compared the rise of AI to the invention of the steam engine and encouraged real estate professionals to stay vigilant when it comes to technology. Continue reading →

Opendoor rebounds with profitable Q2 despite steep revenue decline

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The iBuying giant sold fewer homes and brought in less cash in Q2 2023 than it did during the same time in 2022, but it still managed to end up in the black to the tune of $23 million. Continue reading →

Offerpad scoops up more homes in Q2 as path to profitability emerges

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Having unloaded almost all of its older inventory, the iBuyer ramped up home acquisitions by 131 percent, to 840 homes, in the second quarter of 2023 and expects positive adjusted earnings by year’s end. Continue reading →

Team of rivals: Zillow, Redfin unite to share new construction listings

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New construction listings on Zillow will now automatically be syndicated to Redfin. The companies believe the partnership will extend the reach of the homebuilders’ listings while aiding consumers. Continue reading →

An ‘entire neighborhood’ for sale? Let’s unpack that viral TikTok video

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A 35-home listing on Zillow has prompted debate over displacement and institutional investment — and pushback over a TikToker’s claim that an ‘entire neighborhood’ was about to hit the market. Continue reading →

Will the second quarter of 2023 match real estate’s Q1 meltdown?

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Major real estate companies began reporting Q2 earnings this week against a backdrop of high rates, low inventory and a sluggish economy. Analysts shared what they’re watching with Intel. Continue reading →

Here’s how CoStar can beat Zillow and win the real estate portal wars

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CoStar is already borrowing a page from other big insurgent companies including Nike, Apple and Pepsi. But whether it can surpass Zillow may depend on how much it spends, analysts told Intel. Continue reading →