Opendoor $OPEN is Disrupting The Real Estate Market | 2 Minute Pump

2 Minute Pump

What is Opendoor?

Opendoor is an online company for transacting residential real estate. Headquartered in San Francisco, it makes instant cash offers on homes through an online process, makes repairs on the properties it purchases and relists them for sale. It also provides mobile application-based home buying services along with financing. As of March 2021, the company operates in 27 markets in the US. They went public in 2020 via SPAC merger with Chamath Palahapitiya.

Business Model:

Property owners bid to sell their properties on the online platform. When a bid is accepted, Opendoor purchases the property as-is, charging a fee comparable to the commissions real estate agents collect in return for the convenience of closing a sale quickly without home showings.

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⛔️Disclaimer: I'm not a licensed professional. This video is not financial advice. Dana Donovick & Disrupting aren't liable for any actions taken as a result of watching this video. The opinions shared by Dana Donovick are solely his own and are intended to entertain.