[quote=carlsbadworker]Sean Gotcher, a Las Vegas real estate agent, offered a conspiracy theory that iBuyer companies are manipulating the market by intentionally overpaying for some homes in order to sell others that they’ve already bought in nearby areas for a higher price.[/quote]
As always, I would stay away from conspiracy theories. Zillow is losing money on the houses they’ve bought and are now trying to sell. Simple foolishness on the part of a large company is all there is to see here.
Personally, I’m glad to see them exit the market and I hope other big companies learn from their mistakes. Buying and selling homes at a profit isn’t as easy as it sounds on those reality shows.
