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Home Buying, US Real Estate

iBuying transactions fall by half as traditional home sales accelerate

By Mike Wheatley | November 24, 2020
Home sales might be up during the COVID-19 pandemic, but iBuying companies are still suffering from a lack of activity. Indeed, it’s looking likely that the market share of iBuying activity will be around 50% less than what it was in 2019, according to one analyst. iBuyer companies such as Opendoor operate a business model […]
US Real Estate

The FTC is investigating Opendoor over its advertising practices

By Mike Wheatley | October 12, 2020
iBuying company Opendoor is under investigation by the Federal Trade Commission over its advertising practices and the way it presents its real estate offerings to consumers. HousingWire reported last week that the FTC’s investigation was revealed by Opendoor’s S-4 statement, which revealed how the firm intends to go public via a merger with a special […]
US Real Estate

Opendoor announces it's going public via a merger

By Mike Wheatley | September 18, 2020
iBuying company Opendoor is going public. It’s planning to merge with Social Capital Hedosophia Holdings Corp. II in a deal that will see it become a public company, with a value of $4.8 billion. Opendoor is going public via a special purpose acquisition company, according to Bloomberg. SPACs provide startups with a faster route to […]
Featured News, US Real Estate

iBuyers bounce back as COVID-19 continues

By Mike Wheatley | September 16, 2020
The so-called iBuying industry is facing its biggest challenge yet in the face of the COVID-19 pandemic, and it has responded by purchasing fewer homes than it has done in the last three years, according to research by Redfin. iBuying giants including Opendoor and Zillow Offers largely stopped making instant cash offers on homes when […]
Home Buying, US Real Estate

Keller Williams to expand its iBuying business

By Mike Wheatley | June 28, 2020
Keller Williams iBuying business Keller Offers says it no longer has an exclusive agreement with Offerpad, and will start adding funding partners to its instant offers program for home sellers. The company said it wants to give homeowners more options, providing them with multiple cash offers on their properties so they can choose the best […]
Home Buying, US Real Estate

More iBuyers resume operations

By Mike Wheatley | May 11, 2020
Just days after Opendoor said it was resuming buying activity in some U.S. markets, several of its competitors have announced they too are making a comeback. The re-emergence of iBuyers comes just weeks after analysts said the model was likely to be one of the first major casualties of the COVID-19 pandemic within the real […]
Home Buying, US Real Estate

Opendoor resumes iBuying after pause due to COVID-19

By Mike Wheatley | May 1, 2020
iBuying giant Opendoor says it plans to resume making instant cash offers in select markets, after pausing acquisitions in late March due to the COVID-19 pandemic and consequent economic slowdown. Opendoor also laid off around a third of its staff in March, but has now resumed operations in Phoenix, starting this week. The company will […]
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