12th August 2019

New Redfin-Opendoor ‘iBuying’ partnership: another transformation in how you sell your house

Discount real-estate brokerage Redfin will partner with Opendoor, one of the leading home-buying services, allowing homeowners to get an instant offer when they want to sell with Redfin RDFN, -2.17%  , the firms announced Thursday.

The tie-up is the latest sign of the increasingly fuzzy lines between traditional ways of transacting residential real estate and the increasing popularity of new tech-enabled disruptors. Companies like Opendoor, known as “iBuyers,” buy homes from consumers directly, allowing them to skip the hassle of open houses, repairs and renovations, and uncertain closing schedules.

At a moment when consumers increasingly expect more bespoke and favorable experiences for less cost, the two companies say their initiative “gives homeowners more options for selling their home in a simple and convenient way.”

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