In this video, we’re talking about the recent $62 million FTC fine handed down to OpenDoor for deceptive advertising practices. We’re going to give our own take on the news, why the agents celebrating it are missing the point, and what this actually means for iBuyers and the real estate industry as a whole.

Before you think “serves them right”, remember that OpenDoor and any other platform like them aren’t the devil, and they aren’t going away anytime soon. What are the real lessons we need to extract from this news instead of thinking an “enemy” has been vanquished?

https://www.ftc.gov/news-events/news/press-releases/2022/08/ftc-takes-action-stop-online-home-buying-firm-opendoor-labs-inc-cheating-potential-sellers

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OpenDoor Fined $62 Million by the FTC: What Does It Mean for Real Estate?