Here is the data I pulled for California in Q3 of 2020 looking at the volume of all the ibuyers. Opendoor and Zillow are the only two going strong into 2021 with the likes of Kellar Williams and Realogy brands starting their own versions. An unknown brand like Opendoor entering a marketing is spending five, if not six figures to gain traction. What I like about the letter is you’re seeing how they are trying to get sticky. I’ve got to find a way to ask someone whether they are happy with the volume of buys they get and their ROI on marketing.
