Over the last decade, agents have been squeezed by the proliferation of online listings portals and automated valuation models. Now, with well-funded “iBuyers” poised to tighten the screws and reduce the agents’ role in the homebuying process, some brokers are fighting back against automation.
Speaking at a Silicon Valley conference called Startup Grind, Opendoor CEO Eric Wu revealed that the iBuying company had removed the “Buy It Now” button from its website and app, following complaints from realtors outside the firm, Inman reported.