Real Estate Disruption: Sell at the click of a mouse, buy with a money back guarantee

OpenDoor started its operation in late 2014 by a former PayPal executive. It is a real estate startup that promises a better home buying and selling process: Sell your home at the click of a mouse, and buy with a money back guarantee.
Essentially they buy homes at a slightly discounted price, flips them and then resells it through their website. This is how they are trying to disrupt the real estate industry:

Selling: Sell your house through the click of a mouse. Provide details on your home and they will send you a cash offer. Accept it and choose your closing date. Albeit at a slightly lower price as they have to make a profit. As simple as that. It significantly simplifies and shortens the selling process.

Buying: OpenDoor offers a 30-day money back guarantee on any homes purchased through OpenDoor. It further takes away most of the risk of buying home by providing an 180-point full inspection of every home it sells, and a 2-year warranty that covers up to 20 items.




OpenDoor currently operates in Phoenix and Dallas, USA.

Wall Street Journal estimates OpenDoor makes $10,000 to $15,000 profit on every home.

Is this a sustainable real estate business? Time will tell.

More reading on OpenDoor:
- https://www.opendoor.com/
- http://fortune.com/2016/06/07/opendoor-money-back-gurantee/
- http://techcrunch.com/2016/06/07/a-startup-that-pays-cash-to-buy-homes-now-offers-money-back-guarantee/

Popular posts from this blog

New Flex integrated tenant application module launched

Image
Tenant applications can take up a considerable amount of admin time. This includes getting the application, managing it somewhere centrally, and keeping it safe for further access. We had a look at how we could not only streamline and optimise this process but also develop an integrated tenant application module. The result of this is our newly launched optional tenant application for your Flex website (available in standard and premium packages). Integrated  Tenant Application wizard for Flex Once enabled, an integrated tenant application link will show on all your rental listings like this: You can see it in action on this sample rental property on our Flex Bold demo site. It takes you through a wizard where all application details including personal contact, bank, and supporting documents are captured. Since Flex is responsive, the application is seamlessly integrated and will work on any device. With 100% uptime and SSL security as standard, tenants can capture in confidence. Som
Read more

Easily link Base with external CRM systems

Image
What is the Base Zapier integration? The Entegral Base system was recently improved with a native Zapier app integration . This allows estate agents to exchange data and create automated workflows with over 2000+ popular apps, including all the leading CRM specific apps.  Why even link a CRM system? Although Base has contact management, contact categories, automatic lead import, and other great CRM features , users sometimes require very specific CRM functions that we don't (yet) cater to. With our Zapier integration , we allow agents to link any popular app with Base. Once linked with your app, you can for instance automatically synchronise your contacts from Base to the external app or vice versa.  The added benefit is that you can create automated workflows and link more apps (e.g. insert contact details into a Mailchimp drip email campaign  and ZOHO CRM at the same time). This makes the Zapier fee irreverent compared to the derived benefits.  Automated portal lead import from
Read more

Invest in a good camera and wide angle lens for your property photos

Image
We all know that a good photo can sell a house , or at least, get that all important new buyer or seller lead . Wide angle lenses provides a wider angle view of a room as can be seen in the following 2 photos, and it all makes for better first impression when buyers view your listing: A good place to start your camera search with wide angle lens is on www.sacamera.co.za They recommend the following 2 entry level digital SLR cameras which comes with wider angle lenses: Sony NEX-5N with 18-55mm and 16m f2.8 lens for R7631 http://www.sacamera.co.za/product/1027413// Nikon D5100 with 18-55mm VR lens kit for R8772 http://www.sacamera.co.za/product/1022443//   Photo stitching software Another way to achieve wider angle photos with a standard camera is through the use of photo stitching software ( log into the OMS and look under Help/Virtual Tours for a free copy or to start making your own free virtual tours). Have a look at the standard photo on the left and then
Read more