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Rob and Greg dive into the shakeup at Opendoor after CEO Carrie Wheeler’s resignation. They break down the role activist investors and meme stock energy played, and debate whether iBuying still has a future. The conversation turns into advice for Opendoor’s new leadership, touching on strategy, agent relations, and branding.
Key Takeaways-
Carrie Wheeler resigns as Opendoor CEO amid activist investor pressure and retail investor hype.
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Debate over whether iBuying is viable long-term, given seller expectations and buyer demands for turnkey homes.
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Criticism that Opendoor and Zillow acted like house flippers instead of true market makers.
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Suggested strategies for Opendoor:
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Sell homes “as is” rather than renovating.
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Continue offering full buyer agent compensation.
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Build out an exclusive “coming soon” marketplace for discounted listings.
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Rebrand messaging closer to “we buy ugly houses” but focused on hassle-free transactions.
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Explore seller financing to simplify closings and create new revenue streams.
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Links
Revisiting Opendoor: So many words
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