How Zillow’s Home-Buying Blew Up—and Where iBuyers Go From Here

 How Zillow’s Home-Buying Blew Up—and Where iBuyers Go From Here

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A home that Zillow bought for resale in Phoenix.


CAITLIN O’HARA/The New York Times/Redux

Timing the housing market is notoriously difficult—just ask Zillow Group. The Seattle-based real estate technology company shuttered its Zillow Offers platform this past week after paying too much for homes it intends to sell. The blunder was Zillow’s; the so-called iBuying business isn’t going away.

When Zillow (ticker: Z) started buying homes, it followed a model similar to that of other iBuyers. Homeowners solicit an offer by providing information about their house online. The property is assessed by a proprietary algorithm,…


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