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OPENDOOR TECHNOLOGIES INC.

(OPEN)
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Opendoor launches real-time offers on Realtor.com

10/27/2021 | 08:48am EST

A little more than a year ago, we partnered with Realtor.com to provide the millions of homeowners who visit their website each year with a simple, certain, fast and trusted way to sell their home. Since then, we've seen tremendous consumer response. Given the uncertainty and stress that can come with a traditional sale, consumers are demanding more choice and ease when it comes to moving than ever before. And for that, they're choosing Opendoor.

But as we always do at Opendoor, we strive to be 1% better everyday. So we've been working hard on ways to create an even more seamless and integrated experience for Realtor.com's customers - the over 100 million consumers, agents and brokers who visit the site, on average, every month. Today, we're announcing a significant update to the Opendoor experience on Realtor.com. As part of their Seller's Marketplace, homeowners in the 44 U.S. markets where Opendoor operates can now view their Opendoor real-time offer, a real-time preliminary offer on their home from Opendoor, while browsing Realtor.com!It's then just a couple clicks away to get started with Opendoor.

As consumers continue to face one of the most challenging housing markets in history, advancements in technology are allowing buyers and sellers to navigate with more ease than ever before. Homeowners using Realtor.com now have real-time transparency into their home value with our preliminary offer, giving them the confidence to shop for their next home or move on to whatever their next chapter may be. For the over 60% of sellers who are also buying, the ability to control the timeline of your home move can be the difference between making one seamless move and having to move into a temporary housing or paying double mortgages. That's the empowerment we're continuously striving for at Opendoor.

"Consumers want more visibility into the value of their home, and more choice when deciding how to move forward with their home sale. Opendoor has already helped us create an incredibly strong consumer experience within our Seller's Marketplace. We're excited to bring these offers to even more consumers through our My Home dashboard and offers on off-market properties." - Marissa Mierow, vice president of product at Realtor.com

What we've been able to accomplish with our trusted partners at Realtor.com is a new benefit to consumers. But it's also another example of how Opendoor is modernizing the broader real estate ecosystem. Our purpose-built platform technology is highly adaptable to the needs of our partners and is helping us deliver innovative product experiences. At any given moment, our technology is able to deliver these services not only for the thousands of transactions on our platform, but also for the over 100 real estate partners in our network, spanning homebuilders, traditional brokerages, software platforms, online real estate portals, title & escrow and more. And this is just the beginning.

We're thrilled to deepen our partnership with Realtor.com to provide homeowners with more transparency into the value of their homes and to empower them with ease, certainty and choice at every step.

Tom Willerer is the Chief Product Officer at Opendoor.

Disclaimer

Opendoor Technologies Inc. published this content on 27 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2021 12:47:06 UTC.


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Financials (USD)
Sales 2021 7 353 M - -
Net income 2021 -603 M - -
Net Debt 2021 4 407 M - -
P/E ratio 2021 -8,32x
Yield 2021 -
Capitalization 5 207 M 5 207 M -
EV / Sales 2021 1,31x
EV / Sales 2022 0,77x
Nbr of Employees 1 048
Free-Float 83,9%
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 8,50 $
Average target price 23,00 $
Spread / Average Target 171%
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Managers and Directors
Eric Wu Chairman & Chief Executive Officer
Andrew Low Ah Kee President
Carrie Ann Wheeler Chief Financial Officer
Ian Wong Chief Technology Officer
Daniel Morillo Chief Investment Officer