What does the demise of Zillow Offers mean for investment and innovation in real estate? This is just one of many questions that will be discussed at Connect Now today. Watch a free preview now, then register to tune in live — plus, get all the replays… Continue reading
How will Opendoor and Offerpad respond to Zillow bowing out of iBuying? How is Compass faring as a fledgling public company? And is Keller Williams nearing an IPO? Continue reading
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
Zillow announced Tuesday that it is exiting its iBuyer business, Zillow Offers. After racking up over $1 billion in losses over 3.5 years, Zillow is closing the business down, a move that has significant implications for the real estate industry. Continue reading
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
Within the context of long-term industry disruption, Zillow’s loss may simply be an embarrassing detour on its inexorable march to transform real estate. Continue reading
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 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
The company’s shares ended Monday trading at $10.74, down significantly compared to when they debuted about six months ago. The drop reduced Compass’ valuation to $4.2 billion. Continue reading
Compass’ growth over the past three years has been remarkable. It is one of the fastest growing real estate brokerages of all time — yet its stock price continues to decline. Continue reading