Opendoor

Opendoor created iBuying where homeowners uploaded photos, answered basic questions, and got a precise price in just thirty seconds. Traditional home sales took six months, required agents, staging, open houses. Opendoor compressed months into minutes. The business required absorbing inventory risk. Opendoor bought homes at slightly below market value, held them briefly, and sold them. The spread was typically two to three percent. Speed created value because sellers accepted lower prices in exchange for certainty and time saved. A homeowner needing to relocate did not want to wait six months. They accepted two percent less price to get cash immediately.