Opendoor resumes operations in five markets

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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