Buying and selling a home is a major financial decision and life disruption that has traditionally come with little choice and a lot of uncertainty. At Opendoor, we’ve always believed that consumers deserve a simpler experience with more choice and more certainty, and it’s why our customers have the option to work with an agent when selling or buying a home through Opendoor. Agents can provide local knowledge and expertise for people who want the added support.
Equally important is empowering agents with tools and knowledge to present more options to their clients, including those who may not know that a cash offer from Opendoor could help them sell their home more quickly and with more certainty. In 2019, we paid $133 million in commissions and referral fees to other brokerages, up from $50 million in 2018. Contributing to this growth have been our investments in new tools and programs to help agents advise their clients and grow their businesses. And we’re hearing positive feedback from many agents who have incorporated Opendoor into their strategies.
“Including an Opendoor cash offer in my listing presentations not only brings additional value to my presentations, but also shows the prospective sellers they have alternative options if a traditional sale doesn’t suit their needs. I am confident in soliciting offers for clients as I know the team at Opendoor puts the customer experience first, as well as offers a referral fee to agents. It’s a win for everyone involved!”
— Amanda Dockum, REALTOR® with Coldwell Banker Realty
Because of our work with agents like Amanda and our ongoing commitment to creating more choice for consumers, today we’re announcing a new partnership with MoxiWorks that will help even more agents empower home sellers with choice and certainty when making one of the biggest financial transactions of their lives.
MoxiWorks is a platform for residential real estate brokerages that serves over 260 brokerages and 340,000 agents nationwide. Agents leverage the platform to create dynamic and data-driven listing presentations. And now, for sellers with homes that fit Opendoor’s buying criteria, Opendoor can deliver an estimated cash offer range, along with the option for agents to present a competitive cash offer in their listing presentation. Agents can use the offer to walk their clients through the best options to fit their needs—whether it’s listing the home on the market or selling it to Opendoor. Our partnership is launching with participating brokerages in Sacramento, Austin and Raleigh-Durham, with plans to expand to additional markets over time.
“MoxiPresent has already helped agents win over 10% of the listings in the U.S. last year, and adding Opendoor’s innovative technology will make it even better. MoxiWorks is about helping agents be great, and that means serving as a trusted advisor to clients as they contemplate the sale of their home. Opendoor allows the agent to offer choice, and help the consumer choose the path that gets them the best outcome for their situation.”
— York Baur, CEO, MoxiWorks
As technology transforms how people buy and sell homes, we believe it is also carving out an even stronger opportunity for agents to serve as true advisors to their clients. In the years to come, we see more agents incorporating ibuying into their business strategies, and empowering their clients with more certainty and choice.
Tyler Hixson is the Director of Real Estate Partnerships & Strategy at Opendoor.