Opendoor has rolled out what CEO Eric Wu calls “a 24/7 open house” service, which allows prospective buyers to gain physical entry to listings via smartphone. Currently offered in metro Phoenix, the service enables buyers to register to view a home by texting a contact number on the front door sign. They then receive a text response with an access code that can be used to open a lock pad on the door. The process takes less than a minute and allows them to tour properties any time of day without having to wait for a real estate agent. Many buyers already use their smartphones to search for homes and check list prices while driving through a neighborhood. The new buying service complements the company’s existing seller service, which allows sellers to enter their address and some basic information about the home online and within minutes receive an obligation-free offer from the company to buy the home. Opendoor then renovates the home and ensures it is move-in ready before listing it. Now, buyers can purchase these homes at their convenience. “You don’t have to wait for somebody to move out,” says Evan Moore, head of the buying service. | Read More

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