The iBuyer declined to confirm how many employees have been let go. Recent SEC filings show widespread cuts compared to a year earlier.
Dubbed Powered by Offerpad, the platform enables the iBuyers's PRO and MAX agent partners to manage listings, get real-time transaction updates and directly communicate with Offerpad support staff.
Shares in Offerpad hit a new all-time low in after-hours trading Monday after the iBuyer reported that it continues to trim its losses but expects further declines in revenue and homes sold in the third quarter.
A University of Washington study revealed iBuyers give Black homeowners better offers than they receive on the open market. However, those offers potentially come with some longterm tradeoffs.
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.
Peter Knag joins the company in the middle of a rough real estate market, and when iBuying specifically appears to have lost some of its buzz.
Real estate’s Q4 earnings calls have finally wrapped. From RE/MAX’s CEO exit to Airbnb’s $10 billion year, we’ve rounded up the top stories all in one place. Here’s what you might have missed.
The companies' integrated technology will streamline the process to make Opendoor cash offers available to eXp's tens of thousands of agents.
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.
The company announced the formation of two new tiers of agent collaboration, Offerpad PRO and Offerpad MAX, the latter being an invite-only network for high performers aiming to become long-term referral partners.
Arizona-based iBuyer Offerpad reported its Q3 earnings on Thursday, with revenues declining 71 percent year over year to $234.2 million. Despite diminished transaction activity, the company dramatically slimmed losses and is on track to reach Adjusted EBITDA profitability by 2024.
Sellers located outside of Offerpad markets who contact the iBuyer for services will be connected with eligible agents in the Anywhere Leads Network.