Realogy’s iBuying program expands after pausing in spring

Five-market expansion restores RealSure’s market coverage pre-Covid

National /
Dec.December 21, 2020 03:00 PM
Realogy CEO Ryan Schneider (iStock)

Realogy CEO Ryan Schneider (iStock)

RealSure, an iBuying venture by Realogy, has expanded its coverage to five markets, restoring the reach it had before the pandemic.

The expansion follows the brief suspension of the program at the onset of the pandemic. It later relaunched in July, Inman reported.

The platform is now available in Orlando, Sarasota and Fort Meyers, Florida; Sacramento, California; and Chicago. Home sellers with a qualifying property must be working with brokers affiliated with Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, ERA or Sotheby’s International Realty.

“This relaunch phase will now place RealSure back in all original markets, and well-positioned for growth in 2021,” said Coldwell Banker CEO M. Ryan Gorman by email. The brokerage is owned by Realogy.

Realogy launched the iBuying program in 2018. A year later, it partnered with Home Partners of America, which is backed by BlackRock and KKR. In March, the brokerage holding company announced its decision to suspend the program because of the brief market turmoil caused by the pandemic.

“With the volatility of the current market, we do not believe that RealSure can now provide the value the program was designed to deliver,” the company said at the time.

But as the housing market began to heat up, the company relaunched the iBuying venture and said it would formalize it via a joint venture with Home Partners of America. As TRD previously reported, through RealSure, Realogy agents can offer sellers an instant offer from Home Partners of America that is good for 45 days. During that time, however, the agent lists the home on the open market to try to beat that price.

[Inman] — Akiko Matsuda


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