ibuyer – bzNewsWire

Offerpad losses mount as iBuyer acquires and sells fewer homes

At $17.3 milllion, Q4 2024 net loss is up 28 percent from the previous quarter, as homes acquired dipped 9 percent to 384, homes sold fell 18 percent to 503, and profits on each sale fell by 24 percent..

Portals and disruptors are eyeing the future of mortgage markets

The companies that can afford to, including Zillow, are aggressively growing MLO headcount in order to capture future market share, Mike DelPrete writes.

Opendoor lays off 300 workers after posting $78M Q3 loss

The San Francisco-based iBuyer bought and sold more homes during Q3 than it did a year ago and trimmed its net loss by 14 percent from Q2 and 26 percent from a year ago.

Offerpad takes cash offer program to Realtor.com

Offerpad is the latest company to join Realtor.com’s Seller’s Marketplace. Both companies said the partnership reflects their dedication to furthering consumer choice.

Opendoor’s partnership with eXp officially goes live

The companies’ integrated technology will streamline the process to make Opendoor cash offers available to eXp’s tens of thousands of agents.

Offerpad narrows Q4 loss, expects to be back in black later this year

The iBuyer expects to sell between 750 and 850 homes during Q1 2024, generate $245 million to $285 million in revenue and achieve positive adjusted earnings later this year.

Opendoor founder Eric Wu leaving company to focus on startups

Wu founded Opendoor in 2014 and served as the company’s chief executive officer until last year. He said in a statement that he’s leaving to focus on building new things.

Opendoor to double the number of homes it buys each month: CEO

CEO Carrie Wheeler told Intel that Opendoor wants to purchase 2,000-plus homes per month and that the company is leaning into partnerships like the ones it has with Zillow and eXp.

Offerpad scoops up more homes in Q2 as path to profitability emerges

Having unloaded almost all of its older inventory, the iBuyer ramped up home acquisitions by 131 percent, to 840 homes, in the second quarter of 2023 and expects positive adjusted earnings by year’s end.