OpenDoor

OpenDoor is an operator of an online real estate marketplace intended to simplify home buying and selling. The company's marketplace helps sellers to receive an offer without listing or showing their home and buyers to browse for homes on sale and instantly unlock them using the company's application, enabling customers to buy and sell properties in a hassle free way.

OpenDoor allows home sellers to request an offer from OpenDoor by sending them their address and give them details on their home. OpenDoor returns with an offer based on the home's features and market trends which the home seller is given twenty-four hours to review. If the home sellers accept the offer, OpenDoor completes a home assessment and rather than ask the sellers to repair anything which appears in the assessment, they deduct the costs from the sale proceeds of the home. As part of this process, the home sellers get to choose their close date and receive their proceeds from the sale of their home in a matter of days.

Home buyers can browse listings on the OpenDoor app, and in certain markets schedule a tour with a tour-assistant. OpenDoor helps sellers finance the purchase of their home and offers state-specific discounts through their OpenDoor Home Loans. They also offer discounts when buying with an OpenDoor Home Advisor or partner agent. And OpenDoor offers buyers a 90 day guarantee where they will buy back the house.