Zillow’s House-Flipping Rivals Defend Tech-Powered Homebuying
- CEOs of Opendoor and Offerpad weigh in on rival’s stumble
- Redfin’s Kelman cautions about ‘potentially toxic assets’
The Zillow app on a mobile phone.
Photographer: Tiffany Hagler-Geard/BloombergThis article is for subscribers only.
Zillow Group Inc.’s pullback from its home-flipping operation is reverberating across the real estate industry, leaving its competitors to defend using technology-powered algorithms to buy houses.
The issue is not with the business model, they say, but the execution.