Opendoor bought and resold homes without using traditional agents, whereas Zillow worked with outside, third-party agents. Zillow was also understood to be largely focused on using its iBuyer to generate seller leads for partner agents; Opendoor, on the other hand, seemed to be dedicated to buying homes whenever possible.
Opendoor is increasingly relying on third-party agents. Like Zillow, it’s tapping them for referral fees and for help with reselling some of its homes.
This insight emerged during a discussion between Opendoor CEO Eric Wu and Inman Publisher Brad Inman Wednesday at Inman Connect Las Vegas 2019.
Watch the full conversation above on Inman Select for more insight into the changing iBuyer models.