Tag Archives: ibuyers

Offerpad CEO: Zillow’s folly was in ‘chase’ to be the ‘fastest’

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In a new interview on Thursday, Offerpad CEO Brian Bair explained where Zillow went wrong and his enduring faith in the iBuying business model. Continue reading →

Zillow after Zillow Offers: Here’s what happens next

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Experts envision the company pivoting to the comparatively easier business of working with buyers after the failed experiment of scooping up homes from sellers. Continue reading →

These venture capitalists predicted Zillow Offers’ demise

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Opendoor co-founder Keith Rabois and “The Big Short” investor Steve Eisman predicted the end of Zillow Offers as soon as it began. What did they see that others didn’t? Continue reading →

What should Zillow do with its homes after its iBuyer closes?

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On Tuesday, Zillow announced that it would shutter Zillow Offers, its embattled iBuyer program. With plans to unload 7,000 homes at an estimated $2.8 billion, Inman wants to know if there’s another way out. Continue reading →

Zillow shooting for 7,000 home sales at $2.8B after iBuying pause: Report

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The news comes just weeks after the company announced a pause in its iBuying, and follows reports that it was underpricing homes in a number of cities. Continue reading →

Opendoor to make iBuyer offers on listings in real-time at realtor.com

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Users of realtor.com will now be able to see a preliminary offer from Opendoor in real-time via the search portal’s My Home dashboard, it was announced Wednesday. Continue reading →

Keller Offers exec: iBuying is a golden opportunity for agents

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RJ Jones, head of Keller Offers, told Inman Connect Las Vegas that the increase in iBuyers and alternative transaction models are driving professionalism and give the industry a lot to look forward to. Continue reading →

Missed signs? Zillow’s pause on buying underscores scaling challenges: Mike DelPrete

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The current problem seems to be unique to Zillow. Other iBuyers saw the signals and made adjustments while Zillow kept on buying; either it missed the signs or proceeded anyway. Regardless, it’s a timely reminder that growing an iBuyer business is chal… Continue reading →

Zillow hits brakes on buying new homes for remainder of 2021

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Zillow said labor and supply issues in the market have created an “operational backlog for renovations and closings.” The pause will enable the company to catch up on its existing contracts. Continue reading →

Opendoor boosts homebuying power with $9B borrowing limit

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In a Securities and Exchange Commission filing on Oct. 4, Opendoor revealed it has entered into an amended mezzanine debt facility with a $3 billion limit. The amended mezzanine debt facility will bridge the gap between Opendoor’s debt and equity finan… Continue reading →