We started Opendoor with a simple idea – give every homeowner the freedom to move on their own terms and without any friction. Five years later, it’s incredible to see just how impactful this simple idea has been in the lives of each and every one of our customers. We’ve helped over 50,000 families, couples and individuals enter a new chapter in their lives, whether they are experiencing the excitement of buying a first home, the anticipation of moving to a new community, or the joy of getting a fresh start. But giving people the freedom and confidence to move means taking the friction out of every aspect of the process, which means we’re just getting started.
Moving into a new home should be one of the most delightful and memorable moments in life, yet the closing process gets in the way. Consumers are confused about the status of the close and timeline, overwhelmed by hundreds of documents to understand and sign, and frustrated by the delays due to multiple parties coordinating. These types of problems have become hallmarks of the traditional title and escrow process and is motivation for us to build a better experience.
From the moment OS National (OSN) became our title and escrow partner in 2016, two things became immediately apparent: like us, they cared deeply about the customer experience, and they were dedicated to fixing the problems they saw in the closing process. Fast forward three years, the OSN team continues to share our core values of putting the customer above everything else, and they are equally passionate about the potential of technology to provide a simpler, faster and more seamless experience for everyone.
Today, I couldn’t be more excited to share that OSN will be joining the Opendoor family as a wholly-owned subsidiary and helping us on our mission to empower millions of people with the freedom to move. Headquartered in Duluth, Georgia, just north of our engineering hub in Atlanta, we will be joined by OSN’s 500 dedicated team members in offices across the country. They are leaders in the title and escrow space with decades of in-house experience and have coordinated closings on hundreds of thousands of properties.
The acquisition of OSN allows us to deeply integrate title and escrow into the Opendoor experience and will enable us to build the most streamlined and easiest transaction customers have ever experienced. Additionally, OSN’s national footprint and operational excellence will help Opendoor reach even more customers faster as we expand.
Our goal with this acquisition is to make title and escrow feel less like a barrier in the home purchase process and more of a welcome mat at the front door of your dream home. We can’t wait for our customers to experience a fully digital, integrated and self-serve closing process when they find the home of their dreams or are selling to start their next chapter. This is another step forward in our vision to provide an end-to-end experience where you can buy, sell or trade-in a home in just a few clicks. We’re grateful to our customers for inspiring us to make this vision a reality.