BMW-driving, blazer-wearing real-estate agents should have gone the way of VHS tapes and paper maps by now—rendered an anachronism. Yet, while the internet has transformed the way we hunt for homes and snoop how much our neighbors paid for theirs, the labor and paper-intensive process of the actual home transaction persists.
Automated home flipping, or “iBuying,” was finally supposed to change that. Companies invested billions of dollars in algorithms that were built to snap up real estate bargains and put cash offers on...
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