Millennials, baby boomers upbeat about current housing market

Most Americans are currently upbeat about selling a home in today’s market, according to a new survey, though only a minority of consumers think the market will actually remain strong for a year or more. The survey comes from iBuying behemoth Opendoor and was published in a report Wednesday. It shows that a total of … Read more

Opendoor launches in 6 new cities, achieves sales milestone

Seven years after its founding, Opendoor has finally reached a 100,000-transaction milestone, the company announced Tuesday. To celebrate, Opendoor announced its expansion into six new markets — the largest collection of markets the iBuying giant has launched at one time. Megan Meyer Toolson | Credit: LinkedIn “Seven years ago, Opendoor had a goal to simplify … Read more

WATCH: Opendoor’s Eric Wu and Brad Inman talk digital transformation — and Bill Murray

At Inman Connect, June 15-17, Brad Inman will interview Eric Wu, the co-founder and CEO of Opendoor. The session title: Will real estate transactions ever be a one-stop shop?  The conversation is packed with insights, and there are no holds barred. The talk between Wu and Inman includes the state of digital transformation in real estate and … Read more

Flyhomes lands $150M to bring end-to-end homebuying to more markets

Flyhomes says it’s helped close $2.6 billion in home sales to date, with sales prices ranging from $150,000 to $5 million. The company provides end-to-end homebuying services through brokerage, mortgage and closing subsidiaries. Flyhomes, a pioneer of the end-to-end homebuyer model, has landed $150 million in funding that it says will allow it to meet … Read more

Offerpad is a more profitable flavor of iBuying: Mike DelPrete

The Offerpad story presents the clearest signal yet that iBuying can become profitable. Its latest first quarter 2021 numbers show a business only losing $230 per home bought and sold — a breathtaking achievement compared to losses of tens of thousands of dollars per home at Opendoor and Zillow. All up, on a GAAP basis, … Read more

Knock CEO Sean Black sees a ‘transaction revolution’ on horizon

The Inman community will gather virtually for Connect, June 15-17. It’s a powerhouse lineup of speakers, and our focus is on the New Normal: what business looks like on the other side of the pandemic. Let this conversation with one of our June Connect speakers serve as an appetizer, and don’t forget to grab your … Read more

Offerpad sees dip in revenue as it preps for public debut

The iBuyer’s revenues were down year over year, but up compared to the end of 2020. The company is also nearing completion of a merger that will allow it to begin publicly selling shares. On the eve of its debut as a publicly traded company, iBuyer Offerpad reported earnings this month that show its revenue … Read more

Zillow’s uphill battle to attach mortgages: Mike DelPrete

In 2018, Zillow set itself lofty goals when it entered the mortgage business. Three years later, Zillow’s actual performance is far, far below its predictions, which highlights how difficult the mortgage space is, not just for Zillow, but also for every real estate tech company targeting mortgage as a lever for growth. This story was … Read more

The New Normal: What if the brokerage of the future isn’t a brokerage at all?

This is the first installment in “The New Normal,” a multistory Inman series exploring what’s returning to normal in the real estate industry after the pandemic fades and what will never be the same. Check back tomorrow for the second installment.  Early last month, The Lahey Group jumped from RE/MAX to eXp Realty. The Washington, … Read more

Doma adds Wells Fargo as a client as it prepares to go public

Doma offers “instant underwriting” of title insurance for mortgage refinancing, along with remote and digital closing and escrow services for all types of mortgages. Doma, a startup that’s digitizing the title and escrow business, has added another big lender to its roster of clients, Wells Fargo Home Lending, as it continues down the path to … Read more

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