3 ms·
Yes and no. It goes beyond lack of data and well into fraud (knowing deception). See, for example, point 34 of the report: >Opendoor has used an automated sy
by Jorge1o1 4y ago
Yes and no.
It goes beyond lack of data and well into fraud (knowing deception).
See, for example, point 34 of the report:
>Opendoor has used an automated system to generate expected market values for homes. In many instances, Opendoor’s employees have manually adjusted these values before presenting them to consumers as offers. Opendoor’s internal analyses showed that these manually adjusted offers were several percentage points below Opendoor’s assessment of market value. Beginning
later than 2019, Opendoor instituted a policy to reduce its manually adjusted offers to [REDACTED] below what Opendoor assessed as market value.
In other words, they’re promising above-market value while actually quoting below even their OWN estimation of market value (which is undoubtedly revised down)