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OpenDoor Raises $210 Million

$210 million for OpenDoor.

Wow.

From Forbes:

Opendoor is betting that there are hundreds of thousands of Americans who value the certainty of a sale over getting the highest price.

I’ve long thought that to be true (see my comment), and it’s one reason I believe something really big is going to happen with pocket / pre-market listings.

What do you think they’re going to do with their newfound war chest of capital?

About Drew Meyers

Founder of Geek Estate Blog / Geek Estate Labs. Zillow Alum. Travel addict & co-founder of Horizon. Social entrepreneurship & microfinance advocate. Fan of Red Hot Chili Peppers and Kiva.

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  • In markets where the transfer taxes are low/nonexistent, this model does much better. In other markets, they’ll have to convince sellers to take significantly less than what their home is worth.

    It may work. It still makes me uneasy. How much do the sellers really know about their value? I’m guessing, most of the time, less than they should.

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