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

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

Looking for new estate agents or interns to join your estate agency? Here is an effective solution

Easily link Base with external CRM systems