The company has slashed its workforce by 11 percent since last June, according to U.S. Securities and Exchange Commission filings. The moves come following months of housing market declines. Continue reading
Windermere Offers will allow people working with the brokerage’s agents to compare various options for selling their homes. Continue reading
The company recently reported a nearly billion-dollar loss and has now dramatically rearranged its executive lineup as the cash-buying sector contends with a slowing market. Continue reading
Weeks after it reported losing nearly $1 billion in the third quarter, the leading iBuying company shook up its top executives. Founder Eric Wu was replaced as CEO by CFO Carrie Wheeler, and President Andrew Low Ah Kee has resigned. Continue reading
Offerpad’s stock slipped below $1 per share in late October, positioning the iBuyer to be delisted from the New York Stock Exchange, which would make it more difficult to buy and sell shares while scaring off investors. Continue reading
The iBuyer has launched a new marketplace to connect homebuyers and sellers. The move comes as the housing market continues to slow and as iBuyers face gathering headwinds. Continue reading
A slowing market is taking a toll on big real estate companies, though not every firm is suffering equally. A look back on the past three dramatic weeks of third-quarter wins, losses and draws. Continue reading
As Redfin winds down its operations, Opendoor and Offerpad are the last ones left for the most part — and they’re both struggling. Was iBuying a flash in the pan or is everyone simply looking in the wrong direction? Continue reading
The company earned $600.5 million in revenue during the third quarter, but also lost $90.2 million — up from a loss of just $18.9 million in the third quarter of 2021 — amid a worsening housing market. Continue reading
Real estate companies including Compass, Offerpad and Opendoor saw share prices hit all-time lows Monday. The rout suggests investors may have deep concerns about the real estate industry. Continue reading