“Understanding #iBuying: As an investment analogy, the #iBuyers’ quest for success would be like an ordinary millionaire buying an apartment community as a loss-leader in order to gain access to the precious on-site vending-machine concessions.” I wrote that a couple of days ago, but I’m not all the way in love with it. It’s plenty […]
Tag Archives: OfferPad
Today’s news: #iBuyers have gulled some sellers. Tomorrow’s headlines: Sellers pit #iBuying #iDiots against each other.
The big iBuyer news is the Collateral Analytics paper on the high cost of selling a home to a (fake) bot: “In all, the typical cost to a seller appears to be in the range of 13% to 15% depending on the iBuyer vendor.” That seems like a bold claim, and I think these folks […]
Demography is destiny, and nobody knows that like the hopeful seller of a six-bedroom home. Is that seller an iBuyer? Danged if it ain’t! But no one hopes like a note-holder – and yet there is no reason to project moral hazard in any direction except catastrophic, and iBuying promises to make that all worse: […]
It’s not really hard to choose, it’s just pointless – for now. The average American is slightly above average, and OfferPad was slightly less awful, in its second-quarter 2019 metro-Phoenix closings, compared to OpenDoor and Zillow. I told you they were a comer. Meanwhile, I’m still not in love with my monthly numbers, so I […]
When I proposed The Phoenix iBuyer Averages, Brian Brady said, “That is detailed data.” I said, “Very easy.” Turns out we were both right. A chart like that is easy for me to scare up in Google Sheets, but I want for iBuyer Averages to propagate nationwide, in every city iBuyers operate in, now and […]