Real Estate Startup Opendoor Seeks to Simplify Local House Sales

A new real estate startup is looking to simplify the home buying and selling process in Jacksonville.

Opendoor, founded in 2014, recently announced its expansion into the Jacksonville market. The launch has been led by Greg Hiltz, general manager for the company’s Jax office. Hiltz originates from Kentucky but spent time in Jax as part of his service in the U.S. Navy. So when Opendoor decided to expand into Jax, Hiltz jumped on the opportunity to get involved.

“It’s like a vacation,” Hiltz says of his work in the Bold City. He leads a team of 15 workers, which he expects to grow to 25 by the end of the year.

Jax was chosen for expansion because of its strong housing market and growth potential.

So how does Opendoor work?

SELLING YOUR HOUSE

To start the process of selling with Opendoor, just go to opendoor.com and enter your address. You’ll be prompted to answer some basic questions about your house. Within 24 hours of completing the survey, you’ll receive a competitive offer for your house.

The process of receiving an offer is completely free, but the company does charge an industry standard 5-7% fee on all completed sales.

An assessment is then performed by an Opendoor employee, accompanied by a third-party inspector, to determine if any renovations or repairs are needed. Sellers have the option of doing the renovation work themselves or paying Opendoor’s contractors to do it.

Perhaps the most convenient aspect of selling on Opendoor is the ability to choose your own closing date based on how quickly or slowly you’re looking to move.

It’s all very similar to the typical real estate process, just a whole lot simpler.

There are a few specifications as far as what kind of houses Opendoor will buy. They don’t buy anything that’s located in a flood zone or a gated community, was built before 1960, or is outside of the $100K-500K price range.

BUYING A HOUSE

The process of buying a house with Opendoor is equally geared toward convenience.

Opendoor’s phone app allows you to view all of their local listings; there are less than a dozen right now, but Hiltz expects that number to grow rapidly.

You can use the app to go to each available house and unlock the front door, allowing you to tour the house at your own pace and on your own schedule. The houses are “open” from 6:00 AM to 9:00 PM daily.

As Hiltz notes, this is particularly helpful for couples with conflicting work schedules who may otherwise struggle to coordinate a scheduled tour.

Buyers can bring their realtor with them to open houses; Opendoor works in partnership with many local real estate agencies.

To learn more about Opendoor and its services, visit opendoor.com.