fromwww.housingwire.com
2 hours agoOpendoor Co-Founder Rabois: iBuying wasn't the problem, major cuts needed
iBuying was never out of vogue, Rabois said, addressing comments about Redfin's and Zillow's exits from the space. It was out of vogue because Redfin and Zillow didn't know how to do it. We were always successful. We minted free cash flow every year I was involved in the company. However, it's very complicated and very difficult to do iBuying well, but the value proposition of certainty, transactional speed is incredibly compelling to Americans.
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