iBuyer OpenDoor Being Investigated By The FTC

Posted by TCT Real Estate on Thursday, October 8th, 2020 at 10:14am

Very interesting video by the National Real Estate Post highlighting the fact that OpenDoor is being investigated by the FTC for false and or misleading advertising practices, both directly to the consumer and through local home builders, preying on people's need to close on a certain date based on the completion of their new home.  Most times, the offer, and net proceeds to the seller, are less than market, not only bringing down the price of homes in a neighborhood, but also leaving the seller with my less equity that if they used a local real estate professional with proper marketing and MLS access.  If you are looking to sell your home using OpenDoor, be sure to check out our home seller marketing platform HERE.  We can work with you, and if you are purchasing new construction, to ensure your home sells in time for you to be able to close on your new home.  The market is very brisk right now and there is really no need to give away your hard earned equity t0 these iBuyer programs.  Be sure to check out the video and leave you comments below.

 

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