Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Opendoor founders subtweet Zillow’s new home buying service

04/14/2018

Download PDF

When Zillow announced yesterday that it will now become an iBuyer — directly purchasing and reselling homes from consumers — the original iBuyers put on a good face.

“Welcome, Zillow. Seriously,” Opendoor said in an official statement. “We are genuinely excited, having invented this new category in 2014, and it’s invigorating to see a host of others in the industry recognize the importance of removing hassle and time from the transaction.”

 

But outside this polite acknowledgement of the new entrant, Opendoor executives are taking a different tack, aggressively subtweeting (posting subliminally negative things on Twitter without directly mentioning your target) about Zillow’s new home-flipping service.

 

Eric Wu, Opendoor’s typically poised and polished CEO, must’ve had some advance notice of Zillow’s move, because he tweeted on April 11 (a day prior to Zillow’s announcement): “Imitation is the sincerest form of flattery…”

The best and most effective script ever Tom Ferry’s answer to the No. 1 question you hear READ MORE

 

Imitation is the sincerest form of flattery…

— Eric Wu (@ericwu01) April 12, 2018

“Oldest tactic in a incumbent playbook: Announce vapor ware in a press release when a better startup approach is finishing a financing round,” Opendoor Executive Chairman Keith Rabois tweeted Thursday.

Oldest tactic in a incumbent playbook: Announce vapor ware in a press release when a better startup approach is finishing a financing round.

— Keith Rabois (@rabois) April 12, 2018

Opendoor cofounder Jd Ross tweeted a photo of Apple’s famed 1981 newspaper ad welcoming IBM to the personal computer market: “Welcome, IBM. Seriously.” Sounds similar to Opendoor’s statement — and Ross’s tweet makes it clear where Opendoor sees itself in the Apple/IBM analogy.

pic.twitter.com/texKtjaDJj

— Jd Ross (@justindross) April 12, 2018

Rabois also responded on Twitter to some readers questioning the health of Opendoor’s funding (the company is reportedly in the midst of raising another $200 million on a $2 billion valuation) and agreeing with the idea that it’s hard for a company known as an information marketplace — like Zillow — to pivot and succeed in transactions.

“The Zillow of China tried this and proceeded to lose 75% of its market cap :),” he wrote, with a smiley face for emphasis.

The Zillow of China tried this and proceeded to lose 75% of its market cap 🙂

— Keith Rabois (@rabois) April 13, 2018

Zillow didn’t respond to request for comment about Opendoor’s commentary on Twitter.

Executives at Zillow’s other iBuyer competitors — Knock and OfferPad — haven’t taken the same back-channel criticism approach. OfferPad is partnered with Zillow on its Instant Offers pilot program and until Zillow announced its own plans to finance offers, the company was one of just two institutional investor buyers for Instant Offer customers that Zillow had publicly named.

Email Emma Hinchliffe

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • 10 reasons for a brokerage to acquire another company

    EXIT Realty’s white paper shows that it’s prime time for mergers — and consolidating i...

  • Higher lumber costs have boosted new home prices by $9,000

    While rising mortgage rates and historically low inventory levels are often to blame for rising sing...

  • 6 ways to prepare yourself for selling luxury real estate

    If you are interested in learning how to make the jump into the luxury market when that beautiful li...

  • How to boost your value proposition internationally

    Agents who are immersed in the luxury space work hard to build a database of international agents. U...

  • 16 inspirational quotes to get you through the day

    Fortunately, many words of wisdom imparted by our Founding Fathers and today’s most inspiring ...

  • Miami realtor found guilty of extorting high profile rivals

    Jill Eber and Jill Hertzberg. (Photo courtesy Coldwell Banker) A jury found South Beach realtor Kevi...

  • White House wants to privatize Fannie Mae and Freddie Mac

    The Trump administration is proposing a sweeping reform of how the federal government supports housi...

  • The sale of a Martha’s Vineyard mansion may have ruined the Obama family’s summer vacation

    The Obamas may have to look elsewhere if they want to go on vacation this summer — the Martha̵...

  • Connect the ICSF Sessions: Jason Pantana solves your marketing problems

    How can agents, tech companies and brokerages all move Faster, Better, Together? Learn how this July...

  • Hacker Connect at ICSF18

    We’ll be focusing on how agents and brokerages can all move Faster, Better, Together this July at ...

June 2018
Mon Tue Wed Thu Fri Sat Sun
« May    
 123
45678910
11121314151617
18192021222324
252627282930  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...