Company News
Introducing Opendoor Complete: sell, buy and close seamlessly
Reading Time — 4 minutes
November 4, 2021
By Tom Willerer
Reading Time — 4 minutes
November 4, 2021
Nearly 8 years ago, we set out to make selling, buying and closing on a home simple, certain, and fast. Our vision is to make the entire experience as easy as a tap of a button.
First, we built a pricing algorithm that ingested millions of data points to provide sellers with a competitive offer on their largest asset – their home. We built technology to automate the selling process. We acquired OS National, a leading title & escrow provider, and integrated them into the selling experience. We purchased Open Listings and launched Buy with Opendoor. We centralized operations so that customers could have one point of contact to help them across all of our services. We launched Opendoor Home Loans and Opendoor Backed Offers to help buyers win the home of their dreams. All of these innovations were leveraging our best-in-class technology and operational platform that can transact homes faster and more seamlessly than the traditional process.
Today, we are excited to bring all of this together into a single, streamlined experience that takes us one step closer to enabling our customers to sell, buy, and close at the tap of a button.
Say hello to Opendoor Complete!
With Opendoor Complete, we combine selling, buying, and closing into one simple transaction so customers can move seamlessly. We’ve created a new technology platform, including a consumer dashboard for tracking and managing your move, consolidated your Opendoor interactions to give you a single primary point of contact, and automated multiple steps in the process.
The benefits of Opendoor Complete include:
Sell with certainty
Get an instant offer so you know how much you could put towards your next home. No showings. No repairs.
Make your strongest offer
Buy your next home with an offer that stands out because it is backed by our cash and competitive terms.
Move seamlessly and with complete control
Use our new dashboard to see exactly where you are in the process and line up your close dates so you don’t get stuck paying two mortgages or moving twice.
The challenges of moving the old-fashioned way for the majority of homeowners that need to sell and buy at the same time have been the same for decades. Our customers, like Tyler Botma in Arizona, inspire us to deliver an experience far better than the old-fashioned way. Tyler Botma is a father and husband, and wanted to move to Litchfield Park to be in a better school district for his son. Yet when he and his wife found themselves in a position to buy their dream home in the area, instead of feeling excited they felt apprehensive because they didn’t know if their current home would sell, when it would sell or at what price. They also feared having to live in a hotel temporarily if the closings did not line up. They felt locked in their current home, not sure how to approach the daunting task of selling and buying simultaneously.
Everyday we talk to homeowners like Tyler who have experienced the current process blocking them from moving. They can’t buy the home of their dreams until they know for certain the value of their current home. Or, they are unable to line up the transactions and have to find another temporary place to live. That’s a huge amount of stress for homeowners, added to the anxiety of managing open houses, coordinating dates, not to mention the heartbreak of losing out on bids.
These conversations with homeowners have inspired our team to build what we believe will be the best end-to-end experience. By reimagining, rebuilding and owning every single component of both transactions, we can consistently deliver confidence and peace of mind to our customers. And today we’re excited to finally reveal to the world Opendoor Complete, our promise to homeowners across the country that they no longer need to interrupt their lives with the uncertainty and complexity of selling and buying traditionally to move on to their next chapter.
Tom Willerer is Chief Product Officer of Opendoor.
