After pausing its iBuying platform in late March and resuming operations in two cities in early May, Opendoor is reopening five more markets.
The company, which laid off almost a third of its staff in March due to COVID-19, announced on Wednesday that it restarted operations in Dallas-Fort Worth; Atlanta; Charlotte, N.C.; Nashville, Tenn.; and Tucson, Ariz. Opendoor previously offered its iBuying product in these cities prior to the coronavirus.
In early May, Opendoor resumed operations in Phoenix and Raleigh-Durham. At that time, the company said it would reopen more than 20 additional markets in the coming months. It also had launched three digital, contact-free products to help customers buy and sell homes amid physical distancing guidelines.
- The first, Sell Direct, is Opendoor’s contact-free way for homeowners to sell their property directly to the company. Compared to the iBuying program Opendoor previously offered, Sell Direct now includes a virtual interior home assessment, eliminating in-person contact.
- With Home Reserve, homebuyers can list their current home and buy their next one without a double mortgage. Opendoor buys the customer’s new home, all-cash, on their behalf, allows them to move into that new home and lists their current, empty home.
- The third product is a self-touring system via the Opendoor app.
These three products will now be available in the five reopened markets, a company spokesperson said Wednesday.
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