The company has slashed its workforce by 11 percent since last June, according to U.S. Securities and Exchange Commission filings. The moves come following months…
Posts published in “ibuying”
Real estate in 2022: When the #@!$ finally hit the fan
By The Citizen on December 19, 2022
Soaring mortgage rates, slagging sales, thousands and thousands of layoffs: The past 12 months have offered a jarring reminder that what goes up must come…
Is iBuying facing an existential crisis? The Real Word
By The Citizen on December 9, 2022
This week, Byron Lazine and Nicole White discuss Opendoor’s existential crisis, MV Realty’s alleged deceptive practices, and Left, Middle, Right. Source: Inman News
Windermere debuts zavvie-powered comparison tool for sellers
By The Citizen on December 5, 2022
Windermere Offers will allow people working with the brokerage’s agents to compare various options for selling their homes. Source: Inman News
Opendoor faces ‘existential’ crisis as iBuying fights for survival
By The Citizen on December 5, 2022
The company recently reported a nearly billion-dollar loss and has now dramatically rearranged its executive lineup as the cash-buying sector contends with a slowing market. …
NYSE threatens to boot Offerpad over plummeting share price
By The Citizen on November 21, 2022
Offerpad’s stock slipped below $1 per share in late October, positioning the iBuyer to be delisted from the New York Stock Exchange, which would make…
Here’s what you need to know about Opendoor Exclusives
By The Citizen on November 18, 2022
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…
Billions in losses, a brutal market and more from Q3 earnings season
By The Citizen on November 14, 2022
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…
Redfin sees losses soar in Q3 as it winds down iBuying program
By The Citizen on November 9, 2022
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…
Redfin shuts down iBuyer Redfin Now while slashing 13% of workforce
By The Citizen on November 9, 2022
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…