Realtor.com wades into iBuying at last

Sellers can use Realtor.com to request an offer

National /
Jul.July 23, 2020 11:30 AM
From left: Eric Wu and David Masters (Credit: Opendoor via CNBC, LinkedIn, and iStock)

From left: Eric Wu and David Masters (Credit: Opendoor via CNBC, LinkedIn, and iStock)

Even as rivals rushed into iBuying, Realtor.com resisted the home-buying craze. Until now.

The listings portal said Thursday that it is launching a seller’s marketplace, where sellers can request offers from Opendoor, EasyKnock, HomeGo and WeBuyHouses.com instead of listing directly on the open market.

While Realtor.com, which is owned by Rupert Murdoch’s News Corp., won’t be buying and selling homes itself, it aims to be a “one-stop shop” for sellers, David Master, director of product management, said in a statement.

In a new deal with Opendoor, sellers who visit Realtor.com can accept offers and complete all-digital transactions, Inman reported. The partnership with Realtor.com is Opendoor’s second, following a deal with Redfin last year. Prospective sellers can use Redfin’s site to request offers from Opendoor or list with a Redfin agent.

Until now, Realtor.com has avoided home-buying, even as its chief rival, Zillow, has invested heavily in the sector.

In March, all of the major iBuyers – Zillow, Opendoor, Redfin, Realogy and Offerpad – suspended home-buying due to uncertainty around coronavirus. They have since resumed, and generally predict that sellers will appreciate the certainty around an instant, all-cash offer during the pandemic. [Inman]E.B. Solomont


Related Articles

arrow_forward_ios
Zillow CEO Rich Barton (Getty, iStock)
Zillow hits the brakes on iBuying
Zillow hits the brakes on iBuying
Opendoor amasses $9B in borrowing capacity
Opendoor amasses $9B in borrowing capacity
Opendoor amasses $9B in borrowing capacity
FTC Chair renewing probe into Zillow’s acquisition of ShowingTime
FTC Chair renewing probe into Zillow’s $500M acquisition
FTC Chair renewing probe into Zillow’s $500M acquisition
iBuyer bonds attracting Wall Street capital
iBuyer bonds attracting Wall Street capital
iBuyer bonds attracting Wall Street capital
It’s a house, not a home: Inside the commodification of residential real estate
It’s a house, not a home: Inside the commodification of residential real estate
It’s a house, not a home: Inside the commodification of residential real estate
Reali CEO Tyler Baldwin (Reali)
Home buying and selling platform Reali raises $250M in Series B round
Home buying and selling platform Reali raises $250M in Series B round
Sen. Mike Lee, Zillow CEO Richard Barton and Sen. Ken Buck (Getty, JD Lasica via Flickr)
FTC probing Zillow’s ShowingTime acquisition after lawmakers raise red flags
FTC probing Zillow’s ShowingTime acquisition after lawmakers raise red flags
Opendoor CEO Eric Wu (Resolute Ventures, iStock)
Opendoor stock spikes following strong Q2 earnings
Opendoor stock spikes following strong Q2 earnings
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...