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OpenDoor (same busines model and space) laid off 35% in April 2020, I believe with better foresight that this is a very difficult space to be successful in. Th
by somenewaccount1 5y ago
OpenDoor (same busines model and space) laid off 35% in April 2020, I believe with better foresight that this is a very difficult space to be successful in.
The convenience offered isn't worth much except in the most ridiculous of markets, and that ridiculous market condition isn't sustainable. Ergo, these models aren't really sustainable at the scale they are trying to achieve.
- throwaway7653 5y agoVery, very different business model. Better is a mortgage lender, historically a refi shop. We are more recently also a real estate agency. We sit on the buyer's side of the transaction. OpenDoor is an iBuyer. They give sellers cash offers for houses and then flip them, helping to break the chain of sellers needing to sell one home to buy the next one. Basically they're a market maker for houses.
- Ancalagon 5y agoNot sure why the comment below was downvoted to oblivion, it is correct Better and Opendoor have different business models