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Opendoor Launches To Make Selling A Home Possible In Just A Few ClicksOpendoor, the online service that streamlines the otherwise painful and lengthy process of selling a home, launched today in Phoenix, Ariz. It will also be available in the next several months to homeowners in Portland, Ore. and Dallas, Texas with additional markets coming soon. 
Simple, efficient way to sell your home with just a few clicks. (Photo: Opendoor) Homeowners simply enter their address and submit some basic information, and Opendoor will provide a real offer to buy their home within minutes. Pricing is determined based on a combination of factors including local market conditions, homeowner information and other historical data. The offer includes a market pricing report and gives homeowners the ability to choose their move-out date and close on a schedule that works for them. "We're changing the way people sell their home by removing the uncertainty and stress involved in a typical real estate transaction," explained Keith Rabois, Opendoor co-founder and partner at Khosla Ventues. "If you are considering selling your home, we instantly provide an offer at a fair price and give homeowners the freedom to move on their timeline." The residential real estate market in the U.S. is valued at over $25 trillion and often represents the largest single asset held by an individual, yet it is also the least liquid. According to Realtor.com, the average home sits on the market for 92 days and a significant number of transactions fall through before closing. In the Phoenix area alone, nearly 25-percent of real estate listings are cancelled or expire after remaining on the market past 90 days. Homeowners face real financial hardship when their home does not sell and they need to relocate for work or other time sensitive reasons. Most cannot afford the down payment or monthly payments on a new home while navigating the lengthy process of selling their old home. Already, homeowners have experienced firsthand the benefits of selling their home using Opendoor. "We had eight months of constant headaches and frustrations before working with Opendoor," said David Biederbeck. He and his wife, Jenna, were among the first homeowners to use Opendoor before its official launch, "Their process enabled me, my wife and three kids to move into the house that we've been waiting for." Although there have been some improvements in how homes are listed, there have been no significant or lasting changes in how homes are bought and sold. By eliminating the many pain points in the typical selling process, from making repairs to scheduling showings, Opendoor transforms the otherwise dreaded process of selling a home into one that sellers can look forward to. "Homeowners can trust and rely on Opendoor during one of the most stressful times in their lives," said co-founder and CEO, Eric Wu. "We've all been through the difficulty of moving, and our team has used those personal experiences to design and develop Opendoor to be as simple and transparent as possible." About Opendoor Opendoor transforms the otherwise stressful event of selling a home into one of the easiest with just a few clicks. By streamlining the process and eliminating the risk that a purchase offer will fall through, Opendoor removes uncertainty and gives homeowners more control and greater flexibility. Opendoor is headquartered in San Francisco, Calif. and received an initial investment led by Khosla Ventures. For more information, please visit www.opendoor.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20141208006357/en/ |
