Opendoor Bull

100% $open since 2022, opendoor bull/long term investor since 2021, not financial advice - my own beliefs, no affiliations with Opendoor, 3.52 dca

[Opendoor Bull @OpendoorBull]

$open 👀 💎 🙌🏼

https://t.co/ea5ogejKky

[Opendoor Bull @OpendoorBull]

💪 $open

[Kaz Nejatian @nejatian]

Opendoor team upgrade. Welcome @lucmatheson to Opendoor. As our President, he will lead financial planning and our tokenization efforts.

Also super happy to share that Christy will continue as our CFO. I spoke to a couple of dozen CFO candidates, including many from larger public companies. Christy is the right choice and the best CFO for Opendoor 2.0.

https://t.co/JWumqYSr2O

[Opendoor Bull @OpendoorBull]

$open

[Kaz Nejatian @nejatian]

This morning we filed an 8K to say that my and @Opendoor’s X accounts would be used to talk with our investors.

We’ve also parted ways with our former external PR agencies.

When we want to talk, you will hear from us. Not paid professionals who don’t share our mission.

[Opendoor Bull @OpendoorBull]

$open

[Kaz Nejatian @nejatian]

After 6 years at Shopify, I’m joining @Opendoor as CEO. Here is why:

It is incredibly important that we use all of our energy and every modern tool at our disposal to build products that make home ownership easier. We must make the process of buying and selling a home less frictionful so more people do it.

Home ownership isn’t just about a house. It’s about families and communities.

The West has been built on the idea that ordinary people can stake a claim in their society, put down roots, and build a future. Renters move. Owners stay. That matters.
Studies show homeowners vote more, volunteer more, and are more likely to invest in their communities. It’s not sentiment—it’s data. Homeowners report higher life satisfaction and health outcomes. They have higher trust in our institutions and stronger families.

Ownership builds generational stability. Societies with broad-based property ownership are stronger. Alexis de Tocqueville saw it in America 200 years ago. Nothing has changed. Communities full of home owners are better communities. When people own, they maintain. Crime rates fall when ownership rises. Why? Because people guard what’s theirs. They police and take care of their neighborhoods, not out of fear, but pride. Ownership ties individuals to the fate of the community.

Home ownership is about putting down roots. And these roots tie us together and make our world better.

That is why the work to be done at Opendoor is so incredibly important. And that is why I believe we can build not just a successful company, but a generational company—one that empowers the promise of the West to be unlocked in the ways it was always intended. Today, Opendoor is the largest digital platform for residential real estate transactions, making it possible to buy, sell, and move at the tap of a button. We are 1% done along this journey!

My experience at Shopify showed me what happens when you build a platform that unleashes innovation at scale. Shopify gave millions of entrepreneurs the tools to change their lives, their families, and their communities. That platform mindset is what I hope to bring to Opendoor—to build a platform for homeownership, one that unlocks opportunity for millions of families and strengthens the fabric of society.

And that is why I am so incredibly proud that I get to support this team in our mission to use every tool at our disposal to make selling, buying, and owning a home easier.

AI gives us the chance to accelerate this work in ways never before thought possible. From simplifying the process of buying and selling, to unlocking personalized pathways to ownership, AI can help millions of families access homes more efficiently, more affordably, and more transparently than ever before. This is a once-in-a-lifetime opportunity to redefine what’s possible in real estate.

[Opendoor Bull @OpendoorBull]

$open 💪

[Opendoor Bull @OpendoorBull]

$open 👀

[Tyler Okland, MD @Tyler_Okland_MD]

Three takeaways on the impact of the recent NAR ruling for Opendoor...

Think it's worth remembering that this decision is not ratified yet, but if it were, it impacts seller commission directly.

So if Opendoor already owns the home, they already got their fee, so there's no risk for owning too much inventory and having to sell it for lower commissions. The opposite is actually true...

The more homes Opendoor owns on the balance sheet when and if the landscape changes, the more profit they will make on the resale, because they don't have to pay as much in commissions.

This is just a one time benefit (goes away when those homes are sold) but worth thinking about.

Opendoor charges a fee (5%) to sellers to cover the commission cost of selling the home. Were these commissions to drop, Opendoor could either keep fees the same (albeit at likely lower conversion rates as home shoppers get savvy), or drop fees to competitive commission levels. In the latter case this is net neutral to Opendoor (the cost is simply a pass through).

As a final thought, Opendoor continues to work with agents as much as possible, offering a 1% commission for agents who bring sellers to the $OPEN platform, and this program in growing rapidly.

1% is lower commission than standard for agents, but meaningfully less work, and a great tool for agents to have in their pocket -- at least one cash offer for their clients no matter what.

If commissions drop further, I believe agents will find this product increasingly attractive. Why set up a dozen open houses for weeks and weeks for 1.5-2% commission when you can have your client sell immediately to Opendoor for 1% cash, no contingencies?

This may be the bridge between the old system of residential real estate and the future system of home shopping.

$OPEN

[Datadoor.io @DatadoorIO]

$OPEN listed more homes today than they did on any day since March 2023 👀

[Opendoor @Opendoor]

Ten years in, and we feel like we are just getting started! https://t.co/twlwtlLLLI

[Riyado Sofian @riyadosofian]

$OPEN shorts getting squeezed.
https://t.co/okXmFD15q6

[Datadoor.io @DatadoorIO]

Carrie Wheeler closing the year with a fantastic appearance at the UBS Conference today. $OPEN

* Impact of NARs lawsuit and buyer commission changes
* Partnership channels
* Market share and expansion
* Cohort trends
* Banking relationships and capacity
* 2024 Outlook 🚀

[Opendoor @Opendoor]

We’re thrilled to announce Dana Hamilton of Pretium Partners as the newest member of our board. Her three decades of real estate experience will help propel our vision and the future of home buying and selling. https://t.co/yD9EVhlWfo

[Tyler Okland, MD @Tyler_Okland_MD]

An $OPEN story in 4 parts...

This is the value of Datadoor.

[NuntioBot @NuntioBot]

$OPEN 16:10 on Nov. 02 2023

Dana Hamilton joins Opendoor Board of Directors

[JD Ross @justindross]

I'm confused why Opendoor is down 10% because of a ruling on buyer agent commissions crushing brokerage stocks

Buyer agent commissions are fees that Opendoor generally *pays* but rarely *receives,* so no buyer commissions would save the company a lot of money

[Opendoor @Opendoor]

We’re partnering with @eXpRealty to provide more certainty to millions of homeowners who move every year. eXp Realty agents will be able to request an Opendoor cash offer for their seller clients directly through eXp’s ExpressOffers platform https://t.co/mc3zVdslEX

[Opendoor @Opendoor]

🚨Home sellers in AL, CA, NY-NJ, DC & VA: our selling solution w/ @Zillow is now available to you! Easily compare selling options up front: a cash offer from Opendoor or selling w/ a Zillow Premier Agent partner on the open market. https://t.co/6jj2QKh8wi

[Tyler Okland, MD @Tyler_Okland_MD]

For all Opendoor's markets where they have 10 listings or more (all but six), the company has a double digit embedded margin.

[Opendoor Bull @OpendoorBull]

$open

https://t.co/H3YoXhTfJm

[Datadoor.io @DatadoorIO]

Recording of Opendoor CEO Carrie Wheeler's appearance at today's Goldman Sachs Communacopia & Technology Conference $OPEN

Carrie: I actually was sitting in this meeting with one of the major brokerages in the country and they said something that was amazing, which is as fiduciaries, our job is to avail our customer of all of our choices, right? You're not doing your job if you don't show up at that meeting with an Opendoor offer, which might be their backstop.

(Also available on our YouTube channel with chapter marks)