{"id":2337,"date":"2021-11-04T09:19:32","date_gmt":"2021-11-04T13:19:32","guid":{"rendered":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/?p=2337"},"modified":"2021-11-04T09:19:39","modified_gmt":"2021-11-04T13:19:39","slug":"on-zillow-ibuying","status":"publish","type":"post","link":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/2021\/11\/04\/on-zillow-ibuying\/","title":{"rendered":"On Zillow &#038; iBuying"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2019\/01\/FLhomejan15s-1024x683.jpg\" alt=\"Example Home for Sale\" class=\"wp-image-827\" srcset=\"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2019\/01\/FLhomejan15s-1024x683.jpg 1024w, https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2019\/01\/FLhomejan15s-300x200.jpg 300w, https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2019\/01\/FLhomejan15s-768x512.jpg 768w, https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-content\/uploads\/2019\/01\/FLhomejan15s.jpg 1500w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>While I was happy to see Zillow officially announce that is getting out of the home buying business, it is unfortunate that it will result in a reduction in their employees. The reason I felt good about another iBuyer dropping out of the market is that it should continue to contribute to a rebalancing of supply and demand.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>We have been in an unprecedented seller\u2019s market that has pushed many potential buyers to the sidelines. Although iBuyers are a small fraction of the market, I do believe they have made a difference in supply and demand (at least in some areas).<\/p>\n\n\n\n<p>Also, it shouldn\u2019t surprise us that Zillow didn\u2019t see a long-term path to profitability with iBuying. Home buying and selling is intensely local, with each property having its unique benefits and costs. Just having a solid price algorithm and good balance sheet didn\u2019t provide the competitive advantage they needed to make better decisions than savvy local buyers and operators.<\/p>\n\n\n\n<p>I believe Zillow\u2019s decision will have ripple effects on the iBuying industry. That doesn\u2019t mean that it will go away. However, it hopefully means that iBuying won\u2019t be on this rapid, continuous path to becoming a larger percentage of overall real estate transactions. Here\u2019s to you getting into your next home when you are ready to do so.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While I was happy to see Zillow officially announce that is getting out of the home buying business, it is unfortunate that it will result in a reduction in their employees. The reason I felt good about another iBuyer dropping out of the market is that it should continue to contribute to a rebalancing of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,31,26,1],"tags":[12,13,9,16,15,20,19,6,17],"class_list":["post-2337","post","type-post","status-publish","format-standard","hentry","category-home-buying","category-home-prices","category-home-selling","category-real-estate","tag-home-buying","tag-home-selling","tag-lakewood-ranch","tag-manatee-county","tag-real-estate","tag-real-estate-agent","tag-realtor","tag-sarasota","tag-sarasota-county"],"_links":{"self":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/2337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/comments?post=2337"}],"version-history":[{"count":1,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/2337\/revisions"}],"predecessor-version":[{"id":2338,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/posts\/2337\/revisions\/2338"}],"wp:attachment":[{"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/media?parent=2337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/categories?post=2337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bridgettbyzewski.com\/real-estate-blog\/wp-json\/wp\/v2\/tags?post=2337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}