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Simple as that. > According to the FTC, Opendoor said it would pay market value for people’s homes while saving them money on costs. That way, people selling t
by avg_dev 4y ago
Simple as that.
> According to the FTC, Opendoor said it would pay market value for people’s homes while saving them money on costs. That way, people selling their homes would make thousands of dollars more than they would on the open market. But, the FTC says, it wasn’t true.
- teraflop 4y agoAnd most importantly (according to the complaint), Opendoor knew it wasn't true. They were deliberately adjusting offer prices downward from their own estimated market value, and they had lots of internal data showing that the result was that customers made less money by selling to Opendoor, but they continued to say the opposite in their marketing materials.