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Real Estate Technology, US Real Estate

Opendoor says it will help buyers make cash offers

By Mike Wheatley | March 8, 2021
iBuying company Opendoor is responding to a slump in its business by helping customers who need to secure financing to buy a home make cash-backed offers that can improve the chances of their bid on a home being accepted. The company said that in order to take advantage of the offer, buyers will first need […]
Real Estate Technology, US Real Estate

iBuyer revenues slump amid high market demand

By Mike Wheatley | January 15, 2021
iBuying companies are experiencing a slump in sales during a time when many thought the opposite might happen, as they provide a contactless way to sell a home. Opendoor, the biggest iBuying company, has seen its revenue fall by almost half in the past year, and said it doesn’t expect its business to recover properly […]
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 […]
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 […]
Brokerage, US Real Estate

Report: iBuyers shut up shop as coronavirus fight continues

By Mike Wheatley | March 24, 2020
Some of America’s biggest iBuyers – or companies that make instant cash offers on people’s homes – are said to be suspending their services due to the coronavirus outbreak. The companies include Opendoor, the largest iBuyer in the U.S., as well as the iBuying businesses of brokerages such as Redfin and Realogy. Realogy said it […]
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