OpenDoor Raises $210 Million
Wow.
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?
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Sam DeBord
Posted at 10:17h, 01 DecemberIn 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.