Last year I published a special Red Dot on CoStar after its entry into residential real estate. I subtitled it, “The Rising Sun” for a few reasons. One of them was that CoStar was the most serious entrant into residential real estate in recent memory… perhaps ever. Even Sears or Merrill Lynch (who had entered … Read more
From RISMedia, we get some high-level concepts on what BPP 2.0 (Broker Public Portal) will look like. Or at least try to look like. According to the story, BPP 2.0 will be built on three pillars: National consumer platform created through technology reciprocity National dataset created through MLS reciprocity National display ruleset Read the whole … Read more
I was at Inman doing the #lobbycon thing when Opendoor and Zillow both released their 2Q/2022 earnings. So I saw the news about the multi-year exclusive partnership on the iPhone, then couldn’t really look into it until the weekend. While there are other interesting tidbits in both earnings reports and the discussions from the management … Read more
It appears that Opendoor has preemptively caved in to the Federal Trade Commission, agreeing to a consent order. As is usually the case, the Complaint was filed along with the Consent Order agreement earlier today. I initially thought, “Oh wow, this is bad for Opendoor.” Then I read the Complaint and the Consent Order, and … Read more
Tyler Okland, Stanford-educated surgeon and Opendoor bull, who I interviewed in a Notorious POD a few weeks ago, has published an eye-opening article on Datadoor.io, the company he founded to track Opendoor’s iBuying operations. You should read the whole thing, because it’s excellent and filled with real data. Since I too am a big Opendoor … Read more
I had originally planned on the Four Horsemen series to be five parts: the four Horsemen, plus a wrap-up laying out the consequences for the real estate industry. But as I mentioned in part 5, a couple of you have asked for a slightly medium-to-longer term post-apocalypse outlook on the industry. Once the dust settles, … Read more
At last, we come to the end of this dismal series. While it has been dismal, some of your emails and private messages have been very kind and encouraging. Dark these thoughts may be, but some of you share them and there is a comfort in knowing we’re not alone. (Update: but see below in … Read more
My last post on Opendoor resulted in more than a few emails and messages, and I’d like to thank those who emailed and messaged. I wish more of you would just comment on the posts, but seeing the domains from which your emails come from, I completely understand why you emailed me directly. One of … Read more
How to talk about Zillow’s 1Q2022 earnings call results and the commentary by Rich Barton and Allen Parker? Let me put it this way: the first draft of this was over 7,500 words. After reading what I thought, I decided to summarize for everyone, including myself. As a preliminary matter, I’ve been writing about Zillow … Read more