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/

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