Zillow Stops Buying Houses: Why it didn’t Work and Will Other iBuyers Fail
Todd and Oana analyze the reasons why it is difficult for large organizations to flip homes en-masse and why other companies like Opendoor, Redfin and Offerpad could have problems in the future as well. Zillow has become a real estate brokerage over the last few years and shifted away from selling leads to real estate agents to also including home purchasing.
Since zillow has stopped home buying it will either lead to less choices for consumers since they likely only have opendoor in their market, or they will have to wait for zillow to come back and start purchasing homes again. Zillow’s focus was single family residential homes in median and below median price points.