The Return to iBuying: US Portals are Answering Consumer Demand

May 9, 2020
Share this Post: 

A number of US property portals are bringing back their iBuyer schemes even amidst the pandemic. At the beginning of COVID-19’s reign, the iBuyer business model suffered major blows as companies cut iBuying first in order to save resources. 

Redfin, as well as Zillow, are promising to start up iBuying operations again while Opendoor and Offerpad have already returned to iBuying within the last week. 

This return to buying houses for sale to flip them comes with new measures to further protect the scheme. Offerpad’s iBuying initiative comes with new safety certifications and Opendoor launched a contact-free selling platform in Phoenix

Rich Barton, Zillow’s CEO, told shareholders that Zillow will return to iBuying in a couple of weeks:

“There are a number of factors we are considering that will influence the timing of our restart, including one, the health and safety of our employees, customers and partners; two, local orders and public health concerns; three, local housing market factors, and four, confidence in our ability to consistently price and transact.”

Redfin revealed that its iBuying scheme, now called Redfin Now, will restart in Austin, Texas, Denver, Colorado, and Inland Empire in California

Glenn Kelman, President and CEO of Redfin, explained that his company had performed much better than expected considering how chaotic the market is due to the coronavirus pandemic. 

Barton also revealed that consumer demand is on the rise and Zillow Offers is ready to meet those demands.

May 9, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Zumper Movoto Deal
US Portal Operators OJO Labs and Zumper Sign Listings Deal

The US real estate portal operator OJO Labs has announced that it has signed a listings partnership deal with rental...

Read More
Women In Tech Rea And Zoopla
REA Group and Zoopla Backing Women in Tech Initiatives

Both leading Australian portal operator REA Group and British property portal Zoopla have today announced measures to back women in...

Read More
Alma Media House Symmetry
Alma Media Q3 Figures Show a Healthy Company as Stock Trades at Record High

Alma Media, the operator of Finland's two largest real estate marketplaces, has released figures from its Q3 that show record...

Read More
Ke Holdings Layoffs
KE Holdings Lays Off Staff As Chinese Market Cools

KE Holdings, the operator of China's largest real estate marketplace and brokerage Beike, has laid off workers in Shanghai according...

Read More

Popular News