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
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
M. Ryan Gorman said the current downturn is an opportunity for his company, while noting that some competitors “may not have a plan for good times let alone a plan for bad times.” Continue reading
In an earnings call Tuesday, the real estate giant pointed to its Apartments.com business as a particularly successful standout in an otherwise challenging market this summer. Continue reading
The real estate industry is in the midst of a massive financial reckoning. Amidst this turmoil, the industry is bifurcating into predators and prey — companies that have the resources to expand through acquisition and those burning cash that are vulner… Continue reading
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
Heads will roll and company valuations will sink so low that new outsiders will opportunistically make big acquisitions, Brad Inman writes. Real estate’s Masters of the Universe are on notice. Continue reading
Shares in Opendoor, Offerpad and Redfin all hit all-time low prices Friday. The milestones come after months of declines for companies across the real estate space. Continue reading
A year after announcing it would abandon its iBuyer program, Zillow has offloaded the last of the homes it bought with Zillow Offers, marking the end of a major chapter in real estate history. Continue reading
Once only available in California, the expansion will see the Opendoor Finance App available in Texas, Arizona and Georgia, promising consumers preapproval letters in 60 seconds or less. Continue reading