We saw an example yesterday of a seller who didn't have a problem finding a cash buyer who was willing to pay 10% below their original list price. For the homeowners who are fascinated by the idea of selling quick and easy and might take a discount for such a...
If you're interested, I can deliver a cash offer to you today! Here's research on the costs: But what, exactly, do iBuyers bring to the table for home sellers? And, can this business model survive the housing market downturn so many are predicting? That’s...
The big money and heavy competition is causing ibuyers to juice their offerings. Opendoor will buy your house for cash, they will buy your next house, they have rebates, and now they will even buy your house back within 90 days if you don't like it. Our belief is that...
The path forward is becoming more clear. Zillow is rapidly expanding their ibuying enterprise, and because they are so well-known, they have a shot at a major disruption. In the video below, Mike describes how homeowners who used to rely on their zestimate for a home...
We were talking with some friends last night about how much financial support is going towards kids, and how it will affect real estate in the future. On one hand, it's the Bank of Mom and Dad, and helping to keep the market afloat when funding home purchases at these...
There was a good summary of the ibuyer business published yesterday: https://www.curbed.com/2019/3/21/18252048/real-estate-house-flipping-zillow-ibuyer-opendoor An excerpt: But as more players jump into the space and markets are saturated with various competing...
Doesn't it feel like we're in another bubble? Home prices have been on a tear for ten years straight, and are at their highest levels ever. Is this bubble going to pop too? Let's look at the statistics first. I took the most recent 45 days to get the latest scoop,...
Will the ibuyers succeed? Sure, they offer convenience, but the reason it works is because it's so vague - sellers will never know the money difference between selling to an ibuyer or an open-market sale. The trendy-hip, sell-with-a-click factor could lure sellers...
While the old tradition of broker cooperation via the MLS is slowly eroding, there is an opening for others to intrude. Two quotes seen this week in different articles: Founder and CEO Rich Barton said in a radio interview on April 1st that he sees Zillow Offers as...
Mike has been the leading resource on the ibuyer industry, and he sees it the same way I do - Zillow wants (and needs) to commit fully to their ibuyer program because advertising income from agents is starting to lag, which could be a major shift in the...
