THE OFF-MARKET HOUSING MARKET
A Closer Look at Opendoor Opendoor is important for several reasons: First, it has been able to assemble $320 million in equity and more than $500 million in debt financing. Such numbers instantly make Opendoor a notable player in the local real estate markets where it is active. Moreover, if it finds success, it will be able to go back to
An Opendoor entity (OD TEXAS D LLC) was the second biggest purchaser of existing single family homes in Dallas County so far in 2017 with 117 purchases — behind an entity affiliated with longtime direct buyer NetWorth Realty (DALLAS METRO HOLDINGS LLC), which had 130 purchases. The combined purchases of all Opendoor-affiliated entities was 132 so far in 2017, up from 97 in all of 2016 and none in 2015.
the equity and credit markets for additional funding.
Second, Opendoor is an MLS-member brokerage as well as a direct buyer and seller. This model is well-established in the real estate field: think of inter- generational family firms that buy and sell properties as well as brokers who buy and sell for their own accounts. “The Opendoor difference is simplicity, convenience and certainty,” said Evan Moore, Opendoor’s head of agent experience. “For sellers, Opendoor makes it easy for homeowners to receive a fair market value offer in a few clicks, eliminating the hassle of home showings and months of uncertainty and giving them the power to close on their timeline. For buyers, Opendoor also provides the ultimate in convenience by providing on-demand access to
“For sellers, Opendoor makes it easy for homeowners to receive a fair market value offer in a few clicks, eliminating the hassle of home showings and months of uncertainty and giving them the power to close on their timeline.”
EVAN MOORE HEAD OF AGENT EXPERIENCE, OPEN DOOR
MLS SHARE OF SINGLE FAMI LY HOME SALES IN DALLAS COUNTY
DALLAS COUNTY iBUYERS
PUBLICLY RECORDED DEED SALES
SOURCE: TEXAS A&M REAL ESTATE CENTER, ATTOM DATA SOLUTIONS
OCTOBER 2017 | ATTOM DATA SOLUTIONS
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