Acquisition
What is sell direct in one sentence?
We’ll make you a competitive cash offer so you get a stress-free sale without listing.
What does BwOD stand for?
Buy with Opendoor
In what ways can an Agent submit an offer on an Opendoor home?
Agent offer portal, homes@opendoor.com
(always value prop the agent offer portal)
What page in admin would you find the seller’s disclosures?
Listing Tab/Page
What is a XA?
Experience Advocate
How many days is a final offer good for before it expires?
9
What is the BwOD incentive for someone buying and selling with Opendoor?
1%
What is in a listing packet?
Opendoor Required Documents
ABAD, Opendoor Addendum, HOA Community Disclosure
(and sometimes the Seller’s Disclosure as well!)
Where in admin would you look to see if there is an active offer on a home?
Resale Offers Tab
What is the difference between a CEP and an AEP?
CEP = Non-Licensed
AEP = Licensed
What is a CEP?
Consumer (Customer) Experience Partner
What is a touring assistant?
A licensed agent who helps buyers tour homes in a BwOD market
What is the FHA flip rule?
A rule that states that a property being resold 90 days or fewer following the seller’s date of acquisition is not eligible for an FHA-insured mortgage.
*Quick reminder that FHA offers submitted prior to the FHA eligibility date will be rejected..
Why would a buyer show as VIP in BwOD Admin?
VIP buyers typically have their mortgage PQ uploaded or say they are pre-approved
BPS (as in BPS for Breakfast)
Basis Points
What is Opendoor’s service charge?
5%
Describe Opendoor Backed Offers
Opendoor will back the buyers offer with cash, and purchase the (non-Opendoor-owned) home should there be any issues with financing.
This reserves the home for the buyer and looks as strong as cash!
What is the knox system?
OD’s security system
Where can we schedule tours?
Admin (OD Owned Homes), BwOD Admin (OD and BwOD Homes)
What is an HPM?
Homes Project Manager
Does Opendoor purchase mobile or prefabricated homes?
No
How does a buyer submit an offer?
Through the Opendoor App / Opendoor website
Do you dispatch patrol when squatter activity is reported?
Yes - if they are still actively at the property, or if they left behind items that will affect future visits for safety and/or experience.
Where would you find the title and escrow name or attorney?
Closing Tab - and/or - Inventory tab
ORL, LAS, and DEN are all what?
*Bonus Question - What document can we reference?
Markets we service (also market abbreviations)
*Master Product Offerings & Incentives Doc!