iBuyer programs have been up and coming over the past few years, but Zillow just announced that it is pulling the plug! In turn, Zillow’s iBuyer program causes the company to lose $500M!!! This leads to Zillow laying off 25% of it’s employees and a 30% drop in Zillow Stock price.
In this episode, we dive into what iBuyers do, how it affects the real estate market, what it can do to the market and home prices, what happened with Zillow, and what happens to the Real Estate Industry if iBuyers go away.