Feb. 7, 2021
Introduction
It is the important tool for me to overcome stubborn. I spent over 10 minutes to read about opendoor since some one shared her decision to purchase open stock, this is the first time I read about OPEN stock through wiki article.
Wiki - Opendoor
Opendoor is an online real estate company based in San Francisco. It makes as-is cash offers to property sellers through an online process, improves and repairs the properties it purchases, and relists them for sale.[1][2]
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.[3]
Opendoor then makes necessary repairs before relisting the property. By following this process, the company is known as an "iBuyer” in the real estate industry.[4] Through this process, Opendoor carries an inventory of homes. In 2019, the company reported that the average time a property is held by the company is 90 days.[5] The company has considered renting properties to make use of excess inventory.[6]
No comments:
Post a Comment