It wasn’t that long ago, I mentioned discount brokerage Redfin and real estate search engine Zillow’s stock was plummeting. NOT ANYMORE. Both companies are entering the direct home buying business and apparently, Wall Street loves it. Both stocks are up as of today’s date.
Redfin is making some Boston downtown real estate moves
Discount real-estate brokerage Redfin will partner with Opendoor, one of the leading home-buying services, allowing homeowners to get an instant offer when they want to sell with Redfin RDFN, +0.56% , the firms announced Thursday.
The fuzzy lines between traditional ways of transacting residential real estate and the increasing popularity of new tech-enabled disruptors. Companies like Opendoor, known as “iBuyers,” buy homes from consumers directly, allowing them to skip the hassle of open houses, repairs and renovations, and uncertain closing schedules.
At a moment when consumers increasingly expect more bespoke and favorable experiences for less cost, the two companies say their initiative “gives homeowners more options for selling their home in a simple and convenient way.”
RedfinNow and the Boston downtown real estate market
More to the point, RedfinNow isn’t yet available in all markets, including Boston downtown real estate.
Zillow Stock on the rise
Zillow Z, +2.06% , which has always generated most of its revenue from shopping customer leads to seller’s agents, has continued to maximize those sales as it ramps up its iBuying, which it calls Zillow Offers. That’s even as the company acknowledges the potential for customers to feel a sense of bait-and-switch.
View these Boston condos for sale before they go Under Agreement
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Beds 2 | 1
Baths 1,667
SqFt #73213632 | Condo 2
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Baths 2,275
SqFt #73212037 | Condo 2
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Baths 1,675
SqFt #73213633 | Condo 2
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Baths 1,636
SqFt #73212093 | Condo 2
Beds 2
Baths 1,296
SqFt #73211622 | Condo 2
Beds 2
Baths 1,570
SqFt Open House: Mar 24, 2024 12:30 PM - 1:30 PM #73211963 | Condo © 2024 MLS Property Information Network, Inc. (MLSPIN). All rights reserved.
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third-party sources, including sellers, lessors, landlords, and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, noncommercial use of consumers having a good faith interest in purchasing, leasing, or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein. MLS PIN data last updated at March 18, 2024 9:27 PM ET
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The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third-party sources, including sellers, lessors, landlords, and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, noncommercial use of consumers having a good faith interest in purchasing, leasing, or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
Boston Downtown real estate for sale under $2,000,000
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Beds 2 | 1
Baths 1,356
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Baths 900
SqFt #73191698 | Condo 2
Beds 2 | 1
Baths 1,351
SqFt #73190323 | Condo © 2024 MLS Property Information Network, Inc. (MLSPIN). All rights reserved.
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third-party sources, including sellers, lessors, landlords, and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, noncommercial use of consumers having a good faith interest in purchasing, leasing, or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein. MLS PIN data last updated at March 18, 2024 8:25 PM ET
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The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third-party sources, including sellers, lessors, landlords, and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, noncommercial use of consumers having a good faith interest in purchasing, leasing, or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
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The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third-party sources, including sellers, lessors, landlords, and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, noncommercial use of consumers having a good faith interest in purchasing, leasing, or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
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