The Stunning Rate that Real Estate Market is Changing

In this week’s podcast we’ll cover a new publicly traded company we all know and love, OpenDoor’s explosive growth and a new segment!

 

Offerpad went public this past week, they were expecting a $3 billion valuation, But ended up somewhere near $2.6 billion. Even-tough they took a shot at us we’re still happy for them. It’s just part of the real estate space continuing to innovate and bringing extreme opportunities. 

 

We have a new segment of the show starting this week, the “Offer Deep Dive!”

 

We get a ton of offer requests and acceptances all the time now, so we decided to do a deep dive into some of the more interesting of those.

 

We have an accepted offer with agent David Scott out in California for about $530,000. The seller is a bit of a hoarder. She and her family are now quickly going get the cash they need to move on the their next adventure and David found a solution for someone who really needed it. 

 

 OpenDoor Beat their expectation to be in 44 markets now, they are a few months early with this. They are opening up new markets all over the country. As open door moves into these markets they are paving the say for new things to be done, new ways of doing things. You have the opportunity to align yourself with that change, don’t be afraid of it, embrace it!

 

Look at the recent reporting from OpenDoor, quarter over quarter they went from about 3500 houses bought to about 8500 bought - Than is insane growth and they are still operating in the red with that growth. But the attachment of other services in a bundle like title, lender and other  closing and real estate service providers is offsetting some of that.

 

1000 Watt recently come out with a research report with information about what home sellers really thing. One question was would they be willing to give up some equity for a frictionless transaction. The answer was a resounding yes. In fact 77% of home owners would give up somewhere between 5% and 11% of their equity for a noon-traditional sale. One of our Zoodealio users dug around into the data for us and had some great insights.

 

Everything we are seeing boils down to agents have to start to align themselves with a platform that allows them to meet consumers in a different fashion than their current lead gen.