Acquisition
What is Opendoor's Service Charge?
5%
What is a touring assistant?
A licensed agent who helps buyers tour homes in a BwOD market
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 is a XA?
Experience Advocate
Is 4316 N 3rd Ave, Phoenix AZ 85013 an Opendoor home or a non-Opendoor home?
Non-Opendoor home
How many days is a final offer good for before it expires?
5
What resource can be used to determine where BwOD is available?
Opendoor app & Product and Incentives guide
What is in a listing packet?
Opendoor Required Documents
ABAD, Opendoor Addendum, HOA Community Disclosure
(and sometimes the Seller’s Disclosure as well!)
What is the difference between an Acq EP and a Resale EP?
CEP = Non-Licensed
AEP = Licensed
Where does a buyer submit an offer on an Exclusive Listing Property?
What is the available timeframe for a seller to select for their COE date?
*14-90 Days
*Some markets have a longer minimum timeframe - check out CEP Nuance Doc to confirm!
How does a buyer submit an offer?
Through the Opendoor App / Opendoor website
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..
What does BwOD stand for?
Buy with Opendoor
Austin, Houston and Dallas-Fort worth
What is sell direct in one sentence?
We’ll make you a competitive cash offer so you get a stress-free sale without listing.
True or False - Buyer's offers go straight to the Listing Agent once they enter the details into the app?
False.
Once they submit in the app, they will be paired with a partner BA to review & formally submit.
What is Exclusive Listings?
Opendoor-Owned Exclusives are homes owned by Opendoor that are offered exclusively to our customers for 14 days before we list them to the public.
What is an HPM?
Homes Project Manager
What is the difference between Exclusive Listings and Buy Direct?
Exclusive listings is only live in three markets and buyers can choose to work with or without an agent. Buy direct is available in 42 markets and is for buyers not working with an agent.
Does Opendoor purchase mobile or prefabricated homes?
No
ORL, LAS, and DEN are all what?
*Bonus Question - What document can we reference?
Markets we service and have BwOD available in (also market abbreviations)
*XA Product Offerings & Incentives Doc!
How many markets is Buy Direct available in?
42
BPS (as in BPS for Breakfast)
Basis Points
What is Exclusive Offers?
A customer-owned Exclusive Listing