Bob HilleryCR PropertiesIn previous articles, we discussed what are iBuyers or investment buyers, and that Open Door is the largest iBuyer with the deepest pockets. It was identified that Zillow had previously been in the business of direct purchasing of residential properties, but they ceased that operation arguably because there are no agents involved in direct purchases, so sellers wouldn’t know to provide required disclosures and that there could be resulting lawsuits.Zillow cited difficulty in assessing future pricing as the reason they ceased iBuying. Lastly the FTC and Open Door came to an agreement in the form of $63 million in fines to Open Door for deceptive marketing and quoting inaccurate proceeds to the seller when consumers used Open Door’s services, which res
