{"id":1969,"date":"2018-05-31T22:11:00","date_gmt":"2018-05-31T22:11:00","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2018\/05\/31\/opendoor-ibuyer-market\/"},"modified":"2025-03-13T02:35:10","modified_gmt":"2025-03-13T02:35:10","slug":"opendoor-ibuyer-market","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2018\/05\/31\/opendoor-ibuyer-market\/","title":{"rendered":"Can Opendoor Continue to Dominate the IBuyer Market With Impeding Competition?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Can upgrading your home be as simple as upgrading your phone? San-Francisco-based iBuyer company Opendoor thinks so. The company has been taking steps to make transactions as simple as possible since they entered the real estate industry in 2014. <\/span><\/p>\n<p><!--more--><\/p>\n<p><span style=\"font-weight: 400;\">Opendoor Labs Inc. has had little issue raising funds in the past ( $320 million since their start) and is attempting to raise an additional $200 million, increasing the value of Opendoor to $2 billion. One reason this hot, forward-thinking start-up is attracting some serious attention is due to its home trade-in program partnership with Lennar that began in 2017. The program was created to entice home buyers and sellers with the concept of selling their current home to Opendoor and buying a Lennar new-construction build \u201cin one simple transaction.\u201d This concept has gained enough speed for Opendoor to announce it will begin working with consumers and homebuilders all across the country. <\/span><span style=\"font-weight: 400;\">Opendoor hasn\u2019t shared any details on how successful the partnership with Lennar has been, but one would assume it\u2019s gone well as Lennar is now an investor in the startup.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The concept also gained the attention of real estate giant <\/span><a href=\"https:\/\/www.inman.com\/2018\/04\/12\/exclusive-interview-why-zillow-is-becoming-an-ibuyer\/\"><span style=\"font-weight: 400;\">Zillow<\/span><\/a><span style=\"font-weight: 400;\"> who announced in April their plans to become an iBuyer. Although imitation is the best form of flattery, this move by Zillow shouldn\u2019t be taken lightly by Opendoor. Eric Wu, CEO of Opendoor shared his original reaction prior to the news breaking with a tweet.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-46644 size-large\" src=\"https:\/\/www.realtrends.com\/blog\/wp-content\/uploads\/sites\/9\/2021\/01\/Screen-Shot-2018-05-31-at-3_47_10-PM-1024x335-1.png\" alt=\"Opendoor\" width=\"1024\" height=\"335\"><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s onward and upward for Opendoor. The startup has since ramped up its hiring strategy in the Bay Area and across the country, looking to fill at least 50 new positions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So what\u2019s next for Opendoor? In March, Wu <\/span><span style=\"font-weight: 400;\">told the <\/span><i><span style=\"font-weight: 400;\">San Francisco Business Times<\/span><\/i><span style=\"font-weight: 400;\">, \u201cWe\u2019re going to be launching and scaling in several markets to eventually operate nationwide. We\u2019re looking to more than double the number of cities this year.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Read more on the entire iBuyer process with Opendoor <\/span><a href=\"https:\/\/www.bizjournals.com\/sanjose\/news\/2018\/05\/24\/opendoor-house-trade-ins-partners-lennar.html?ana=RSS&amp;s=article_search&amp;utm_campaign=Feed%3A%2Bindustry_21%2B%28Industry%2BResidential%2BReal%2BEstate%29&amp;utm_medium=feed&amp;utm_source=feedburner\"><span style=\"font-weight: 400;\">here<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Can upgrading your home be as simple as upgrading your phone? San-Francisco-based iBuyer company Opendoor thinks so. The company has been taking steps to make transactions as simple as possible since they entered the real estate industry in 2014.<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[],"class_list":["post-1969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Can Opendoor Continue to Dominate the IBuyer Market With Impeding Competition?<\/title>\n<meta name=\"description\" content=\"Can upgrading your home be as simple as upgrading your phone? San-Francisco-based iBuyer company Opendoor thinks so. 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