While still relatively small, the iBuyer sector could have an outsized impact on the industry, which is currently grappling with a shortage of available homes. Some builders have seen iBuyers as a way to ensure the quick sales of homes. Opendoor has partnered with Lennar, and Offerpad has partnered with Taylor Morrison. If that proves effective, it could help spur more construction.
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Quick cash, easy sales: iBuyers are grabbing more of the real estate market
“Put simply, our observed error rate has been far more volatile than we ever expected possible and makes us look far more like leveraged housing traders than the market makers we set out to be,” he said.
