Tag Archives: ibuying

Here’s what you need to know about Opendoor Exclusives

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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 →

Billions in losses, a brutal market and more from Q3 earnings season

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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 →

Redfin sees losses soar in Q3 as it winds down iBuying program

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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 →

Redfin shuts down iBuyer Redfin Now while slashing 13% of workforce

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As many as 264 employees impacted by the cuts were from Redfin Now, the company’s iBuying division, while an additional 218 jobs from other departments are also being eliminated. Continue reading →

Redfin called ‘fundamentally flawed’ by analyst amid stock market havoc

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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 →

Opendoor lost nearly $1B in Q3 in ‘once-in-40-years market transition’

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In total, Opendoor suffered a net loss of $928 million between July and September, according to an earnings report Thursday. That’s up from a loss of just $57 million during the third quarter of 2021. Continue reading →

Zillow sees Q3 revenue dip, but manages to significantly trim losses

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The company brought in $483 million in revenue and suffered a loss of $53 million — an improvement over the Q3 2021 losses of $329 million, according to quarterly earnings results Wednesday. Continue reading →

Opendoor lays off 18% of workforce ahead of Q3 earnings call this week

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The cuts affect approximately 550 people, Opendoor CEO Eric Wu said in a blog post Wednesday, and come amid a worsening housing market that has forced layoffs across the real estate industry. Continue reading →

Real estate companies are about to tell us just how bad the downturn is

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Many of the industry’s big companies are about to report their third-quarter earnings. The reports will offer the first in-depth look at how firms coped with a rapidly cooling market. Continue reading →

Gary Keller: Tech firms’ ancillary service strategy a ‘big lie’

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During Inman Connect on Tuesday, Gary Keller discussed an array of topics with Inman founder Brad Inman. Keller said companies have to focus on “dollars in, expenses out” as they reach for profitability. Continue reading →