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Opendoor vs. Redfin

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OpendoorRedfin
as of 05/21/2018
as of 05/21/2018
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Comparing different models Opendoor buys your home directly from you while Redfin offers a discount online service to sell your home.

What is Opendoor

Opendoor purchases your home directly from you. You can sell your home without listing it on the market and close on your own timeline. It is free to request a no-obligation offer from Opendoor. Offers are based on unique details and features of your home, recent comparable home sales around you, and market conditions and trends. If you are looking to buy, you can browse Opendoor's inventory and easily make an offer through their app or by getting in touch.

How Opendoor works

  • Request an offer from Opendoor, and receive an offer based on market data and unique information about your home.
  • Opendoor arranges a free home assessment. If there are needed repairs, you can take care of them or Opendoor will do the work and deduct the costs.
  • Set a closing timeline, and a title and escrow agent will set a time for you to sign the necessary documents. Opendoor will visit the home in a final walkthrough to make sure the home is still in the same condition.
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What is Redfin

Redfin is a low cost full service real estate brokerage that represents home buyers and sellers with their local agents. You will get the full service of a traditional agent while paying a much lower commission. Redfin agents get paid bonuses based on the review their clients give them, so they are highly motivated to provide the best possible service when helping you sell your home. Since launching in 2006, Redfin has sold over 120,000 homes and saved customers over $400 million.

How Redfin works

  • Redfin will recommend local professionals to get your home cleaned, painted, landscaped, or fixed. They will then pay for professional photography and a 3D scan for potential buyers to tour your home remotely.
  • After a consultation and walk through of your home, your Redfin agent performs a Comparative Market Analysis (CMA) for pricing guidance. Your home is then listed on the MLS and other syndicated sites.
  • Redfin will install a for sale sign in your yard, directional signs around your neighborhood, create custom flyers and brochures, run targeted email campaigns, hold open houses, and develop a marketing plan to sell your home.
  • Redfin will manage, negotiate, and oversee offers you receive. Once you have an offer you like, your agent will send a ‘Last Call’ email that can potentially lead to more offers and a higher sale price.
  • Your Redfin agent oversees and guides you through escrow, from the inspection to closing.
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Service offerings by Opendoor compared to Redfin
Service
Opendoor
Redfin
Home Purchase
Photography
Virtual Scan
Comparative Market Analysis
MLS Listing
Listing Syndication