Airbnb is what some would call a trend setter. Even in the real estate brokerage sector, the influence is there, but instead of renting a home out, it's selling. Opendoor gives homeowners an offer up front, quickening the process, though will a little assumed risk. It's a new type of service that's gaining popularity, and if the predicted dip in housing happens, the service will only gain momentum as homeowners look to sell their houses more easily.
Investors seem to agree, too: Opendoor has already raised $645 million in equity and $1.5 billion in debt.
Not to be left out, real estate listing giant Zillow has gotten in on the action with Zillow Offers. And according to hiring data for the service, Zillow has no plans to slow down when it comes to undermining the role that traditional agents play.
Job titles containing "Zillow Offers" have been on the rise since last summer, moving from just 9 positions in July 2018 to 40 in November, settling in at 35 as of this week.
Zillow Offers was first launched in Phoenix, Arizona. A look at hiring data in that locale reveals that Zillow is doubling down on its charter market, which is a sign that expansion is soon to come in other markets.
One of the more common job listings for Zillow in that area is very telling; it's for a "Closer," or someone who handles the hand-over of property, shuffles contracts, and, in short, moves real estate from one owner to the next.
Read more here
Join us in Bangkok the 19th to the 21st of March for the Property Portal Watch Conference.