Real-time property offers are at the centre of what has been described as a “significant” update to the existing partnership between Opendoor and Realtor.com.
Opendoor is the leading iBuyer in the United States and had previously partnered with #2 portal Realtor.com back in July 2020 as part of the portal's 'Seller's Marketplace' initiative which gave users information about different options for selling their house including iBuying and the so-called 'power buyers'.
Now the partnership has been taken one step further with the introduction of real-time offers from Opendoor for Realtor.com users in the My Home area of the portal. The experience is clearly aimed to mirror Zillow which started offering users real-time offers based on its patented Zestimate AVM back in February.
Tom Willerer, Chief Product Officer at Opendoor, said: “We’ve been working hard on ways to create an even more seamless and integrated experience for Realtor.com’s customers – the more than 100 million consumers, agents and brokers who visit the site, on average, every month.”
He added that as part of their Seller’s Marketplace, homeowners in the markets where Opendoor operates can view a real-time preliminary offer on their home from Opendoor while browsing Realtor.com.
Marissa Mierow, Vice President of Product at Realtor.com, added: “Consumers want more visibility into the value of their home, and more choice when deciding how to move forward with their home sale.”
“Opendoor has already helped us create an incredibly strong consumer experience within our Seller’s Marketplace. We’re excited to bring these offers to even more consumers through our My Home dashboard and offers on off-market properties.”
Willerer added: "At any given moment, our technology is able to deliver these services not only for the thousands of transactions on our platform, but also for the real estate partners in our network."
Opendoor’s preliminary offer is integrated with Realtor.com’s consumer-facing “My Home” dashboard in the 44 markets where it operates.
Earlier this month Zillow, one of Opendoor’s main competitors, announced it was pausing its own house-buying initiative.
Realtor.com is operated by News Corp subsidiary Move, Inc. under a perpetual license from the National Association of Realtors.
Headquartered in San Francisco, Opendoor describes itself as being a team of problem solvers, innovators and operators building the largest, most trusted platform for residential real estate.