Weeks after it reported losing nearly $1 billion in the third quarter, the leading iBuying company shook up its top executives. Founder Eric Wu was replaced as CEO by CFO Carrie Wheeler, and President Andrew Low Ah Kee has resigned. Continue reading
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
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
As Redfin winds down its operations, Opendoor and Offerpad are the last ones left for the most part — and they’re both struggling. Was iBuying a flash in the pan or is everyone simply looking in the wrong direction? Continue reading
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
The layoffs are the second round of job cuts from the end-to-end platform pioneer this year. They also add to thousands of other real estate layoffs this year. Continue reading
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
Real estate platforms were a hot topic a few years ago, but for even some of the biggest companies, sprawling enterprise has been the quickest way to failure, Inman founder Brad Inman writes. Continue reading
Exactly one year ago, Zillow Offers was in a similar position to the one that Opendoor now finds itself in and shut down its operations. Mike DelPrete offers insight into the path forward for Opendoor and why it might be different this time around. Continue reading
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