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Redesigning Real Estate: How Opendoor is designing a better way to buy and sell homes(medium.com)

almost 5 years ago from Annie Tang, Product Designer

  • Ryan Hicks, almost 5 years ago

    As someone doing something similar in the same market (everyone is racing right now to do the same thing for real estate) this is not an easy task with all the regulations in place. While my specific company isn't targeting sellers as much as OD is we are also in the same game for buyers and innovating there as well. The real estate market from both ends of consumers will be different in 5-10 years when it comes to buying and selling if not sooner.

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    • joe andersonjoe anderson, almost 5 years ago

      What is your companies name? Would love to see the different approaches to this problem. I don't doubt that it will be very different. The fact that OD is willing to essentially buy the home themselves and use data science to know how much they could sell it for is huge w/ reducing seller friction.

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      • Ryan Hicks, almost 5 years ago

        We don't have the same business model as OD. We are a traditional nationally licensed mortgage banker with a sister company that is a local real estate company in CO. We are turning the entire process digital (which is what I mean by everyone is racing to do right now in real estate); it's not an original idea by any means but very few if any have been able to conquer that space in real estate.

        https://www.americanfinancing.net/

        From the process of applying to get a pre-approval and pre-qualification to submitting paperwork, closing, and communicating with your CSR and MC, etc etc. There are a lot of legal hurdles with doing this stuff digitally and it's a tough thing to design around and to build requirements around. We have both internal and external applications built to help streamline this process as well as things in the pipeline to further advance them.

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