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
A recent viral video suggested iBuyers could jack up the prices of homes. But one expert called the theory “fairly conspiratorial,” and iBuyers themselves said they still have a tiny share of the market. Continue reading
Real estate tech disruptors are investing billions to build integrated brokerage and mortgage experiences. Some have more resources than others, but all have the same scaling bottlenecks. And in the end, the biggest disruptors — and who is most at risk… Continue reading
IBuyers are closer than ever to profitability. But the overwhelming majority of profits are coming from record home price appreciation, which is temporary and appears to be falling.
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Historically, Zillow has maintained a consistent 2.5x agent revenue lead over realtor.com, but in the past quarter that lead has slipped, as realtor.com grew its agent revenues much more than Zillow. Continue reading
The hot real estate market has fueled strong growth across the industry. Compass’ growth is noteworthy, and it demonstrates that though the industry moves slowly, some players move faster than others. Continue reading
The iBuyer also experienced a loss of $144 million between April and June, and sold a total of 3,481 homes. Continue reading
Home prices are rising across the U.S., and iBuyers, led by Opendoor, Zillow and Offerpad, are paying record-high, above market values for the homes they’re buying, but they’re also reselling them for more money than ever before. Continue reading
For anyone concerned that the iBuyer model wouldn’t be popular in a seller’s market, the evidence shows that it is resonating with consumers more than ever, and market conditions are in fact fueling its growth. Continue reading
Amid a highly competitive market in the first half of 2021, iBuyers began making more competitive offers and expanding the range of homes they were willing to purchase. Continue reading