![\"Ya](\"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg\")
\u201cI’m not saying people are nuts, but you’ll never catch a dog adopting a\u00a0dog…\u201d<\/p><\/div>Real estate is kids and dogs, but real estate sales<\/em> is entrepreneurs.<\/p>\n I was interviewed yesterday on the future prospects of the big-name iBuyers, whose numbers are everyday augmented by many, many no-name iBuyers. I’m a bear, of course. When the market turns, the slow-selling pontificating poindexters will discover why less-pedigreed brokers do not own the inventory they represent. Plus which, when the world catches on to The Full Uruguay,<\/a> American residential real estate could be in decline enduringly.<\/p>\n Worse than all that, worse than everything else is simply this: Employees are not entrepreneurs. Before there’s a fire in the hearth in someone’s new home, there was a fire in a real estate agent’s belly \u2013 and if not, the process took too long and cost too much.<\/p>\n The proud-mouthed iBuyers are interesting to me, right now, to see how poorly they sell in an impossibly-easy market for listing brokers. They stand out in any screen of listings, since they are the only listers who can get to double-digit Days-on-Market. The listing histories are always interesting, as are the financial details of the closed sales: By selling poorly and by mismanaging their offers, iBuyers end up with weaker buyers \u2013 with financed offers in an all-cash world \u2013 frequently paying closing costs.<\/p>\n The question: How do iBuyers matter in my world?<\/p>\n The answer: They don’t.<\/p>\n They’re pawnbrokers, and only a fool would pawn a house in this market. They invariably list too high, so they make my listings look like a bargain to buyers. And because they sell so slowly and so weakly, they make me look like a genius to my sellers. Beyond that, the big-budget iBuyers are just more tricky niche pitches in a world awash in them.<\/p>\n In other news:<\/em><\/strong><\/p>\n Housing Wire:<\/strong> The appraisal gap is complicating deals across the country.<\/a><\/p>\n Mike DelPrete:<\/strong> America’s Next Top Real Estate Model: Tracking the Growth of eXp, Redfin, and Compass.<\/a><\/p>\n Housing Wire:<\/strong> Rising rates push mortgage applications down for fifth week.<\/a><\/p>\n CNBC:<\/strong> Mall vacancies jump at fastest pace on record, hitting new high, as retailers cull <\/a>Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" \u201cI’m not saying people are nuts, but you’ll never catch a dog adopting a\u00a0dog…\u201dReal estate is kids and dogs, but real estate sales is entrepreneurs. I was interviewed yesterday on the future prospects of the big-name iBuyers, whose numbers are everyday augmented by many, many no-name iBuyers. I’m a bear, of course. When the market […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,26,6,5],"tags":[],"class_list":{"0":"post-18028","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-lending","8":"category-marketing","9":"category-real-estate","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":17336,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17336\/the-ibuyers-are-super-good-at-mulcting-buyers-agents-with-science-thats-why-they-cant-price\/","url_meta":{"origin":18028,"position":0},"title":"The #iBuyers are super good at mulcting buyer\u2019s agents with science. That\u2019s why they\u00a0can\u2019t\u00a0price.","author":"Greg Swann","date":"October 20, 2020","format":false,"excerpt":"Mike DelPrete is worth reading, so long as you understand that, like The Inglorious Knob, he is one with The Borg. Just lately I mentioned that the iBuyers in Phoenix are nicking buyer's agents for commission \u2013 which is just the kind of dick move you expect from financially-inept sociopaths.\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/10\/aidan-bartos-v9rZ3Yz6fSg-unsplash-1-480x320.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17955,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17955\/overnight-news-big-budget-ibuyers-manage-to-suck-even-worse-even-in-the-easiest-real-estate-market-ever\/","url_meta":{"origin":18028,"position":1},"title":"Overnight News: Big-budget iBuyers manage to suck even worse \u2013 even in the easiest real estate market\u00a0ever.","author":"Greg Swann","date":"March 11, 2021","format":false,"excerpt":"There's iBuyer news today \u2013 half truth, half lies \u2013 but, as usual, the big news is missing: The big-budget iBuyers are by-now swarmed by many, many mini-iBuyers. Hardly anyone knows how to build a magnetic website, but lots and lots of people know how to flip houses. Here's more\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":16839,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16839\/the-money-making-secret-to-real-estate-socialize-the-risks-to-the-seller-the-ibuyers-are-just-now-catching-that-clue-ineptly-as-always\/","url_meta":{"origin":18028,"position":2},"title":"The money-making secret to real estate? Socialize the risks to the seller. The #iBuyers are just now catching that clue \u2013 ineptly, as\u00a0always.","author":"Greg Swann","date":"August 31, 2020","format":false,"excerpt":"This has been a slow-rolling epiphany on the part of the iBuyers. I've snarked about it here and there, but that's all, so far. I wrote a ton about iBuying last Summer, but by now it all seems quite a bit less urgent. There are a lot more of them\u2026","rel":"","context":"In "iBuyers"","block_context":{"text":"iBuyers","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ibuyers\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/tierra-mallorca-rgJ1J8SDEAY-unsplash-480x360.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17511,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17511\/overnight-news-is-the-incumbent-is-now-the-real-estate-broker-elect-market-swing-threatens-overdue-shellacking-for-doe-eyed-ibuyers\/","url_meta":{"origin":18028,"position":3},"title":"Overnight News: Is \u201cThe Incumbent\u201d now the Real Estate Broker-Elect? Market swing threatens overdue shellacking for doe-eyed\u00a0iBuyers.","author":"Greg Swann","date":"November 22, 2020","format":false,"excerpt":"Seen any commercial TV lately? Have you spotted ads from local real estate vendors offering to make cash offers for homes \u2013 right now, on the spot, in any condition? \"That's not really iBuying!\" the iBuyers will shout \u2013 and it's true. It's flipping Homevestors.com-style \u2013 Ug's uglier offspring. What\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":18457,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18457\/overnight-news-if-the-ibuyer-idea-is-any-good-whats-the-rush-to-go-public\/","url_meta":{"origin":18028,"position":4},"title":"Overnight News: If the iBuyer idea is any good, what\u2019s the rush to go\u00a0public?","author":"Greg Swann","date":"September 7, 2021","format":false,"excerpt":"As a matter of news, OfferPad went public last week \u2013 meaning none of the iBuyers are now backed by wide-awake entrepreneurs, just pie-eyed punters. The \"offering\" was done by Wall Street chicanery to avoid even the casual due diligence white-shoe investors normally do. But, of course, no due diligence\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":18500,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18500\/overnight-news-if-you-got-beat-by-an-ibuyer-you-deserved-it\/","url_meta":{"origin":18028,"position":5},"title":"Overnight News: If you got beat by an iBuyer, you deserved\u00a0it.","author":"Greg Swann","date":"September 25, 2021","format":false,"excerpt":"Linked below, there is apparently a TikTok video of a real estate agent accusing iBuyers of nefarious market brilliance. He's in Nevada, where Florida goes to blow its reputation for probity, so that alone may explain his conclusions. Mine are the opposite: The iBuyers are terrible marketers. They buy low\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=18028"}],"version-history":[{"count":3,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18028\/revisions"}],"predecessor-version":[{"id":18031,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18028\/revisions\/18031"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=18028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=18028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=18028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}