I spend a lot of my time advising people on how to search for property and how to negotiate on price. The look on people's faces is heart-breaking when they see how complex and frustrating it will be to find a home.
But what if you didn't need to be an 'expert' and deal with negotiations? What if you got a refurbished property, for a fair price? Even better, what if you could just walk in and view the property without needing to book an appointment?
"Honey, that house looks good. Shall we take a look?"
"I'm not free tomorrow."
"How about now?"
"It's midnight, who is going to open the door and show us around? Your Dad?"
"Actually, it's an OpenDoor Home, we can walk straight in."
And that is the genius behind OpenDoor: they just removed all the headache from the process.
The service is even branded well. It's not OpenDoor Sales. It's OpenDoor Homes. They want to set a standard, so that you know what you're getting. There's a margin in providing people with a lack of headache.
I've been thinking for a while of approaching banks in the UK and offering to sell their repossessed stock AFTER refurbishing them quickly. It's absurd that such properties are sold off in a desperate fashion.
OpenDoor 'get' what the property mad public want, and for buyers and sellers they deliver a service without headache.
I used to think selling your home to OpenDoor wouldn't be for everyone. Now I think the brand they are building could be the only way you want to sell or buy a home outside of metropolitan areas (the model works best where there isn't a ferocious market).
Now if only I can persuade OpenDoor's management to allow me to launch the brand in the UK.... :)