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- Zillow, the real estate website known for estimating house values, said on Tuesday that it would exit the business of rapidly buying and selling houses amid heavy losses and that it planned to let go about nearly 25 percent of its employees.Learn more:Zillow, the real estate website known for estimating house values, said on Tuesday that it would exit the business of rapidly buying and selling houses amid heavy losses and that it planned to let go about nearly 25 percent of its employees.www.nytimes.com/live/2021/11/02/business/news-b…Zillow Group Inc. is pulling the plug on its tech-powered home-flipping operation after deciding that its pricing algorithms weren’t accurate enough to build a stable business.www.latimes.com/business/story/2021-11-02/zillow …Zillow is getting out of the iBuying business and will shut down its Zillow Offers division, resulting in a 25% reduction in its staff. In its quarterly earnings report on Tuesday, the company said it will see a total write-down of more than $540 million as a result of its exit from the business, which buys homes and resells them.www.cnn.com/2021/11/02/homes/zillow-exit-ibuyin…There were signs that the program was in trouble — a report on Monday said that Zillow was looking to offload over 7,000 homes it had bought, not to individual buyers but investors. In October, the company announced that it was going to stop buying houses, citing labor shortages as the reason for its excess inventory.www.theverge.com/2021/11/2/22760080/zillow-offe…
Zillow shuts home-flipping business after racking up …
Nov 2, 2021 · Zillow is closing its tech-powered home-flipping operation, saying its pricing algorithms weren’t accurate enough to build a stable business.
The Demise of Zillow's IBuying Division: Why Zillow Stopped …
Nov 2, 2021 · Zillow is backing out of the home-flipping business and will be winding down Zillow Offers. The company has listed hundreds of homes in key markets for less than it paid, our …
Zillow to exit its home buying business, cut 25% of staff - CNN
Nov 2, 2021 · Zillow is getting out of the iBuying business and will shut down its Zillow Offers division, resulting in a 25% reduction in its staff.
Zillow, facing big losses, quits flipping houses and will lay off a ...
Nov. 2, 2021. Zillow, the real estate website known for estimating house values, said on Tuesday that it would exit the business of rapidly buying and selling houses amid heavy losses and that …
Zillow Exits iBuying — Five Key Takeaways
Nov 3, 2021 · Yesterday, Zillow announced that it is exiting its iBuyer business, Zillow Offers. After racking up over $1 billion in losses over 3.5 years, Zillow is closing the business down, a move that has significant implications for the real …
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Zillow to lay off 25% of its workforce and shutter house-flipping ...
Nov 2, 2021 · Zillow said Tuesday it is laying off a quarter of the real estate firm's 6,400 employees as it shuts down the company's house-flipping operation, a painful setback for a …
Zillow is moving out of the home-selling business - The Verge
Nov 2, 2021, 2:29 PM PDT. Zillow has announced that it’s winding down the Zillows Offers program, a day after reports surfaced that it’s selling over 7,000 of the houses it purchased …
Zillow, facing big losses, quits flipping houses and will …
Nov 2, 2021 · Zillow, the real estate website known for estimating house values, said on Tuesday that it would exit the business of rapidly buying and selling houses amid heavy losses and that it planned to...
Facing Major Financial Losses, Zillow Terminates …
Nov 4, 2021 · According to a quarterly earnings report released on Tuesday, the homes segment of Zillow Offers was responsible for $421 million in losses for the three-month period ending on September 30,...
Zillow slams the brakes on home buying as it …
Oct 18, 2021 · Zillow will still market and sell the homes it has acquired through Zillow Offers, which has been on a purchasing tear this year. It bought 3,805 homes in the second quarter – a record high for...
Zillow will stop buying and renovating homes and cut 25% of its …
Nov 3, 2021 · The iBuying, or instant buying, service called Zillow Offers had recently been bogged down by a backlog of renovations and closings caused by labor and supply shortages …
Why did Zillow Offers fail? iBuyer basics 2021 | wusa9.com
Nov 16, 2021 · The market forced real estate web company Zillow to cut 25% of its workforce and close down its home buying company: Zillow Offers.
What Went Wrong With Zillow? A Real-Estate Algorithm Derailed …
Nov 17, 2021 · A Real-Estate Algorithm Derailed Its Big Bet. The company had staked its future growth on its digital home-flipping business, but getting the algorithm right proved difficult. …
Here’s Why Zillow Stock Plunged 20%—And Why It Won’t
Nov 3, 2021 · Shares of digital real estate marketplace Zillow tumbled nearly 20% on Wednesday morning, a day after the company announced in its earnings results that it would shutter its …
Inside the 2 Weeks That Ended Zillow's Home-Flipping Division ...
Nov 5, 2021 · Zillow is shutting down its homebuying division and laying off a quarter of its staff. The company had — until last month — staked its growth on home flipping.
Why Zillow Couldn’t Make Algorithmic House Pricing Work
Nov 11, 2021 · Zillow's Zestimate of home values has become a go-to reference for US homeowners. But when Zillow tried to use its algorithm to buy and sell homes, it badly misread …
Everyone is worried about Zillow. Should you freak out, too?
Nov 2, 2021 · Zillow stopped buying homes, sending shockwaves through the real-estate market. Here's what's going on — and why you should care.
5 Homes Help to Explain Why People Are so Worried About …
Oct 22, 2021 · Zillow has paused homebuying for the rest of 2021, leading some to speculate about its algorithm. We examined fewer than 100 listings and found 30 homes Zillow was …
Zillow After Zillow Offers: Here’s What Happens Next - Inman
Nov 4, 2021 · Zillow’s announcement on Tuesday that it was ending its Zillow Offers program sent shockwaves through the real estate world. The moment cast a shadow on what had been the …
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