For all the transacting iBuyer's did in 2021, only one was profitable: Offerpad, which posted $6.5 million in net income. Zillow notably lost so much money through its headfirst dive into iBuying – $881 million – that it shelved the program in November. Opendoor, however, managed to exceed Zillow's overall net loss in 2021, recording a $662 million loss of its own. Not analyzed in the report was Redfin, which CEO Glenn Kelman stressed was not just an iBuyer during the brokerage's third quarter earnings call with investors, reported a $110 million loss in 2021 due to ramping up its iBuying program.