Opendoor’s money-back offer cures homebuyer’s remorse

Deep-pocketed real estate startup rolls out another one-of-a-kind product
  • Homebuyers who purchase properties from Opendoor can now return their homes for their money back for any reason.
  • The real estate tech startup will try to persuade agents to refund the commission they collect on a buyer client's purchase of an Opendoor home if the buyer returns the home to Opendoor, or offer to represent the buyer in another purchase free of charge.
  • Opendoor is reportedly paying real estate agents for broker price opinions on properties.

Mike Nonhof wound up buying a home from the real estate tech startup Opendoor largely because he and his wife could visit the listing whenever they liked and because Opendoor agreed to buy the couple’s previous home on the same day they would purchase Opendoor’s home.