Amne and ZHome, Opendoor competitors, emerge in Austin, Texas, and Las Vegas

  • Property-exchange platforms ZHome and Amne have come onto the real estate scene, illustrating that Opendoor has company in the segment of tech entrepreneurs vying to compete in the homeselling space by compressing the transaction.

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Inman Connect San Francisco, Jul 16-20, 2018

If imitation is the sincerest form of flattery, then Opendoor should be delighted by the business models of ZHome and Amne. On the heels of Knock and OfferPad, these two additional property-exchange platforms have sprung up in recent months, underscoring a groundswell of interest in a new alternative to traditional listing brokerage. Like Opendoor, Las Vegas-based ZHome and Austin, Texas-based Amne leverage technology to make quick offers on homes, buy and flip them. The two firms also plan to use new services that Opendoor is testing: helping consumers seamlessly upgrade to a newly built home and serving as a listing brokerage with a guaranteed sales price. It’s “pretty incredible what that company has been able to accomplish,” said Amne Founder Richard Chang about Opendoor. “I think we’re taking the best elements of what we can learn about Opendoor or OfferPad or Knock and seeing if we can build on that experience here in Austin.” (Offerpad and Knock are two o...