In the wake of the National Association of Realtors’ 3-month-old rule change, executives are reassessing agent pay amid pressure on commissions, an analysis of Q3 earnings data shows. Continue reading
DropOffer has released a fully refreshed browser version of its off-market home sales platform. Continue reading
The San Francisco-based iBuyer bought and sold more homes during Q3 than it did a year ago and trimmed its net loss by 14 percent from Q2 and 26 percent from a year ago. Continue reading
The company has hired Selim Freiha to serve as its chief financial officer and Shrisha Radhakrishna to serve as its chief technology and product officer. Continue reading
CEO Brian Bair told National Mortgage News in a recent interview that agents no longer view Offerpad as a threat, noting they can make 4 percent if a client takes the company’s cash offer and the home is updated and resold. Continue reading
The iBuyer declined to confirm how many employees have been let go. Recent SEC filings show widespread cuts compared to a year earlier. Continue reading
The iBuyer’s revenue declined 24 percent year over year to $1.5 billion as losses hit $92 million, down from positive income of $23 million the previous year. Continue reading
A University of Washington study revealed iBuyers give Black homeowners better offers than they receive on the open market. However, those offers potentially come with some longterm tradeoffs. Continue reading
“The Offer Mobile” is driving around neighborhoods in Nashville, Tennessee, to literally bring Opendoor’s instant offers to consumers’ front doors. Continue reading
Peter Knag joins the company in the middle of a rough real estate market, and when iBuying specifically appears to have lost some of its buzz. Continue reading