Tech Company launches one-click home shopping

Buying a home is often one of the most stressful and financially important decisions in a person’s life. And now many people can make this purchase as easily as they buy socks on Amazon.

On Tuesday, Opendoor announced it was introducing “one-click home buying,” a new way to buy a home that creates what the version contorts not to call an Amazon-like experience for customers. by creating a “one-tap”, “all-digital” payment flow that makes “buying a home as easy as any other e-commerce transaction”.

Opendoor, a leader in the high-tech home-flipping market, said it plans to list select homes for two weeks on its website for less than on the public market. The company said the new service, “Opendoor Exclusives,” will sell off-market homes on a “first-come, first-served” basis, allowing buyers to avoid bidding wars and “instantly close a deal.” .

“To explore and purchase our Opendoor-owned homes, you can visit the Opendoor Exclusives site, visit any home displaying the ‘Instant Self-Visit’ button, and complete a short verification process. If you want to proceed with the purchase, it’s as easy as clicking the “buy” button.

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Worried that making a potentially catastrophic financial decision as simple as buying chewing gum will end in societal disaster? Opendoor says don’t worry. People who have deposited a deposit can withdraw without penalty and receive a full refund at any time before closing, according to the company.

“I felt like I was buying a house on Amazon,” a satisfied first customer said in a press release provided by the company to Motherboard. “It was great!”

For starters, services will only be available in three cities in Texas: Austin, Houston, and Dallas-Fort Worth. But the company should soon expand elsewhere. Opendoor has been aggressively buying homes across the country for years and now has a foothold in over 50 markets. In the first quarter of the year alone, the company purchased 9,000 homes and held a balance of over 13,000.

Like other so-called iBuyers, Opendoor says it hopes to make the stressful process of buying a home more seamless for customers. But the growth of middlemen in the crowded real estate space has been a source of frustration for some would-be first-time home buyers as they grapple with record prices, housing shortages, rising interest rates and a growing number of competition from institutional investors, who now make a fifth of home purchases.