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 played a quarterly game instead. This is all spreadsheet, no software, and if you can issue the first eight fields in the detail spreadsheets in good order from your MLS, you can import that data into Google Sheets, supplant my cells and pin down your own local iBuyers, just like that.
The spreadsheet uses a different way to impute DOOP and the implied Carrying Costs, permitting a concise overview of the averages.
The headline? They all suck at selling real estate. But we already knew that.
But credit where it’s due: In the second quarter, all three Phoenix iBuyers closed an enormous number of deals – very slowly and very unprofitably.
But DOOP is death, and so far nobody seems willing to admit that fact. That will change…