Is This Instant Home Sale Program Too Good to Be True?

I joined WRAL recently to talk about a new real estate company called Opendoor. Here are some of my thoughts that didn’t make it to air.

 

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I recently did a TV interview with WRAL where we discussed a new company in town called Opendoor. This company allows you to sell your home via an online-generated valuation. The interview lasted about 10 minutes, but they only ended up airing about 10 seconds’ worth of it. There was a lot that was left out, so I wanted to go through a few specific numbers with you right now.

 

In the interview, they used the example of a woman who sold her home to Opendoor for $167,000. After they bought the property, Opendoor did some minor repairs, then sold the house again for $182,000. Although the home did sell for $167,000 originally, the homeowner also paid a 6.5% commission, which equates to nearly $14,000. In reality, she only netted about $156,000 on the sale. If she would have made the repairs herself, she would have made that extra $14,000 back, plus more. That’s a hefty price to pay for convenience.

 

That’s a hefty price to pay for convenience.

 

Opendoor charged two different commissions and created an almost 20% swing in profit. We’ve been waiting for a seller’s market like this for a long time, so I don’t want you leaving 20% on the table like this homeowner did. If you’re really stressed out about the process or about any repairs you have to make, let us help. We can help make sure you aren’t taken advantage of, and that your hard-earned equity goes into your pocket at the end of the deal.

 

If you have any questions about this topic or if you’re considering selling your Triangle home any time in the near future, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

 

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