Knock Knock. Who's There? Opendoor.

Sellers enter their address, answer some questions, and receive an offer instantly.

Opendoor uses an Automated Valuation Model (AVM) to algorithmically price homes.

75 million millennials entering the housing market who expect to transact online

Medium-term, Opendoor will add services beyond the home sale transaction. It has announced plans for moving, but I wouldn’t be surprised if it started offering ongoing home repairs and maintenance, painting, lawn care, cleaning, and anything else related to the home

People grasp its downside much better than they grasp its upside. But grasping the upside is what we’re all about here at Not Boring, so here it is:

Customers are uncertain in a downturn. When customers are uncertain, they should be more willing to pay a premium for certainty.

Opendoor is executing impressively and intelligently on its original plan.

Opendoor was built from the ground up to do what it does. It has a culture that’s fixated on driving down costs and passing them on to customers. It’s hard to imagine that a company used to software margins can transform its culture without a tremendous amount of pain.

No one has taken the vertically integrated approach and long view that Opendoor has. Opendoor built the world’s most accurate home pricing model, operates a distributed network of thousands of inspectors and contractors, regularly accesses both the debt and equity capital markets, takes inventory risk, and coordinates among the many parties involve... See more