Monthly Archives: July 2019

Can an iBuyer ever get lucky and make a profit? Maybe – but only by coming up with triple-sevens.

DOOP is death, we’ve established that. I’ve known for months that the iBuyers either don’t know or don’t care that money costs money, but it does, regardless. And as soon as you account for the cost of money in iBuyer transactions, all of the imagined profits go up in imaginary smoke. Every other flipper knows […]

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Good news for Realtors: iBuyers suck at real estate – and now they know it, too.

What’s every bad Realtor’s best friend? Starvation. When you suck at real estate, your stomach will find a way to convey that fact to you, even if you deny every other evidence. Zillow should be so lucky. When you have unlimited funding, as the iBuyers do – for now – you lack the motivation to […]

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It’s not just #Zillow. The costs and risks of ownership mean every #iBuyer “investment” must lose money.

What’s the secret to old school, shoe leather real estate? I think about things until they break. I’ve been working at this iBuyer knot for a year now, and the underlying pricing problem for coming on twenty. But it was only lately that I realized the secret to ‘testing the market.’ What is it? Not […]

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I proved that all 3 Phoenix iBuyers are inept at marketing real estate and all I got was a back-handed confirmation…

Last Friday, I proved that OpenDoor is inept at real estate marketing. No corporate P.R. response, but plenty of traffic, my guess would be from recently-sideswiped staffers. Monday, I proved that OfferPad is inept at real estate marketing. No corporate P.R. response. Tuesday, I proved that Zillow is well beyond inept at real estate marketing. […]

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When Zillow can barely manage to lose $50,000 a house, how can you say iBuying is a half-baked idea?

First, I think it is important to understand that I am not opposed to the iBuyer idea. To. The. Contrary. I’ve been watching and preparing for – and creating – real estate marketing automation software for almost twenty years. Adapting the CarMax idea to real estate is an innovation – the seed of iBuying as […]

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