Company News
Opendoor and Redfin partner to provide more options to home sellers
Reading Time — 3 minutes
July 11, 2019
By Opendoor Team
Reading Time — 3 minutes
July 11, 2019
The program gives home sellers the ability to request an Opendoor offer through Redfin
Opendoor and Redfin, two of the nation’s largest technology-powered real estate companies, today announced home sellers in Phoenix and Atlanta can now request an Opendoor offer through Redfin’s site and mobile apps. By coming together, Opendoor and Redfin are giving homeowners more options for selling their home in a simple and convenient way. Redfin will also continue to expand RedfinNow, its own instant offer service.
With this partnership, home sellers will have the opportunity to compare listing their home on the open market with a full-service Redfin agent to receiving an instant offer from Opendoor and skipping the process of listing altogether. By presenting a complete set of selling options, Opendoor and Redfin are empowering homeowners to make the best decision based on their needs and situation. The partnership is currently live in the Phoenix and Atlanta markets, and the companies will evaluate expanding to additional markets.
“Every homeowner should have a choice between putting a home on the market via a Redfin agent, or taking an instant cash offer,” said Redfin CEO Glenn Kelman. “No matter how fast RedfinNow expands, there will always be homes we can’t buy, because it’s so hard to match our capabilities and capital with the market’s ups and downs. Just as traditional agents are our partner for brokered sales our own agents can’t handle, Opendoor is our partner for giving customers reliable, competitive offers on homes we ourselves can’t buy.”
“Redfin and Opendoor are bringing together the reach of the most visited online brokerage with the scale of the largest iBuyer service to deliver a comprehensive service for more customers,” said Eric Wu, founder and CEO of Opendoor. “Both companies are focused on making the experience of buying and selling a home simple and hassle-free. By working together, we can amplify our efforts and give customers more choice when making one of the biggest financial decisions of their lives.”
Providing Redfin customers with an Opendoor offer
Phoenix and Atlanta homeowners who visit Redfin’s website or mobile apps will be able to request an instant offer from Opendoor as part of their homesale inquiry. When the Redfin agent meets with the homeowner, the agent will advise her on the home selling process, what her home is likely worth on the open market, and will present her with Opendoor’s offer.
The homeowner can choose to sell to Opendoor to maximize convenience and control, or work with a full-service Redfin agent to list the home on the open market for a 1.5 percent listing fee. If the homeowner does not want to meet with a Redfin agent, she can choose to receive only the Opendoor offer. Redfin will receive a referral fee for each customer who decides to sell to Opendoor.
Expanding access to Opendoor’s home listings
Redfin will also market Opendoor’s home listings on Redfin.com and Redfin’s mobile apps and promote Opendoor’s all-day Open House, where buyers can unlock the home on-demand from their phone and self-tour.
