Opendoor, Knock and OfferPad: Growth in new markets

An analysis of three property-exchange competitors and where they stand
  • Dallas, Opendoor’s second market, is doing remarkably well, while its Las Vegas market is off to a slow start.
  • Knock, Opendoor’s Atlanta-based competitor, has yet to ramp up in any significant fashion.

Last December we conducted a wide-ranging analysis of Opendoor, the real estate startup that purchases homes directly from sellers. At the time there were a number of unanswered questions we wanted to dig into: How much money does Opendoor make per transaction; how big could the model really get in the U.S.; and does Opendoor have a sustainable competitive advantage against competitors?