The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

BrokerageReal Estate

Opendoor, Atlanta, and the future of iBuying

A dive into the Peachtree city market reveals real estate agents frustrated with the new iBuyer on the block

HW-atlanta-homes

After a review of Atlanta area property records, it would appear Kim Klir is the most successful real estate agent in world history. Between April 2020 and the end of March this year, Opendoor, an iBuyer but also a residential brokerage, sold 1,613 homes listed on First Multiple Listings Service, the greater Atlanta region’s National Association of Realtors’ endorsed spot for home listings.

Of those sales, Klir was the listing agent for 1,213 of the 1,613 deals, according to FMLS data. Klir sold more than three homes per day, every day of the year.

But Klir was mostly invisible to buyers’ agents. In fact, agents didn’t know who at Opendoor they would get routed toward, a process they compared to dealing with an unevenly run DMV. 

Opendoor is a “pain in the neck,” said Cheryl Butler, an agent at Coldwell Banker Realty in Atlanta. For Sarah Shurden, also of Coldwell Banker, “It was a pain in the butt.”

Formed in San Francisco in 2014, Opendoor stands at the vanguard of businesses that cast their lot with the instant purchase, and then resale of homes. Led by CEO Eric Wu, Opendoor is arguably normalizing iBuyers in real estate.

HousingWire looked at Opendoor’s metropolitan Atlanta operations, because the company has bought homes in the market since 2017. Plus, Atlanta is an Opendoor engineering and sales hub, and the region is replete with the modest abodes that dot the brokerage’s housing stock.

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