AgentNews Brief

Opendoor targets Atlanta and Raleigh, North Carolina

Job openings increase list of startup's new expansion markets to four
  • Opendoor's business model and war chest have shaken up the industry, representing a high-tech alternative to traditional listing brokerages that has quickly gained traction.

Opendoor, a leading "iBuyer" that uses technology to allow homeowners to sell their properties in days, has set its sights on Atlanta and Raleigh, North Carolina. It's the latest sign that the startup, valued at more than $1 billion, has launched a new expansion push, coming shortly after the company signaled intent to expand to Tampa and Orlando, Florida. Opendoor, which has raised more than $300 million in funding, allows homeowners to request quick offers online, and if they choose to accept the bids, close fast and on their schedule. Unlike traditional investors, it purports to pay market value for homes and charges an average service fee of 7.5 percent. Opendoor's business model and war chest have shaken up the industry, representing a high-tech alternative to traditional listing brokerage that has quickly gained traction. It played a role in inspiring the launch of Zillow Instant Offers, which allows homeowners to get bids from multiple investors, including Opendoor com...