Can Zillow and Redfin Make Money Buying and Selling Houses?
Tech-focused real estate companies, including Redfin (NASDAQ: RDFN) and Zillow (NASDAQ: ZG)(NASDAQ: Z) have been rapidly expanding their iBuying businesses. In other words, they aim to buy houses directly from homeowners, make some cosmetic repairs, and then resell the house at a profit. And they want to do it thousands of times each quarter.
The problem is that nobody has figured out how to do this profitably at any sort of scale yet. In this Dec. 1 Fool Live video clip, two experts from our Millionacres real estate brand, Matt Frankel, CFP, and Deidre Woollard discuss why both of these real estate giants are laser-focused on figuring this business out.
Source Fool.com
