iBuyer Warning. Read before selling your home to Opendoor, Zillow, etc.
May 29, 2023
Over the past few years, the iBuyer model surged and faded, with companies like Opendoor and Zillow leading the way. iBuyers acted as intermediaries, providing quick purchases for sellers and reselling to buyers or amassing their real estate portfolio and turning those homes into rentals. However, this seemingly ideal solution has faced some recent challenges. The model thrived when housing prices were rising, allowing for profitable transactions. But when the market started shifting,, iBuyers like Opendoor and Zillow ran into some difficulties. They were accused of driving up prices during the boom and faced a backlash during the new market. While some expected praise for making housing more affordable, that was not the case at all. As a matter of...