Everyone’s rushing to be an iBuyer — except for Realtor.com
“Industry observers said the fact that Zillow views iBuying as a do-or-die phenomenon makes Realtor’s indifference that much harder to understand.
“How do you have a situation where it’s an existential threat to one portal, but the other is twiddling their thumbs at the back of the classroom?” asked Mike DelPrete, a scholar in residence on real-estate technology at the University of Colorado who studies iBuyers. “I don’t think [Realtor] needs to be buying and selling houses directly,” he added. “That’s not what this is about, and that’s probably a bad idea for them.”
I’ve been curious about this for a long time. I still surprised how many people still don’t understand the value proposition that iBuyers give consumers. The narrative on Wall Street still seems to be centered around iBuying as “flipping” houses. ????♂️
