A Builder and Tech Platform Partnership that Works for Everyone

Jeff spoke with Opendoor’s GM of Homebuilder Partnerships, Derek Schairer, about how they’re working with new construction builders across the country to help grow their businesses, while making the moving process easier and more certain for their customers. 

What is Opendoor and how does the Homebuilder Partnership Program work? 

Opendoor is an e-commerce platform for residential real estate that allows people to buy, sell and move with simplicity and certainty. Opendoor customers come to us with different life situations, but their reason for using Opendoor is always the same: they want a simpler and more certain way to sell or buy a home. 

Opendoor pioneered the homebuilder partner program in 2016 and we’ve seen tremendous success from our builders and shared customers ever since. The partnership allows homeowners to sell (trade in) their existing home to Opendoor and buy a new construction home from one of our builder partners in one seamless process. For example, if a customer wants to purchase a new construction home from one of Opendoor’s builder partners, but also has a home to sell, they can go to Opendoor.com/builder and see a preliminary, competitive offer on their current home within minutes. 

A customer then completes a simple video walkthrough (helping to avoid showings, listings and making repairs), finishes the steps online to receive their final offer, and chooses their flexible move date anywhere from 14 days to 9 months following their closing. This seamless transaction provides customers with significant flexibility, so they can quickly and easily transition into their new home. 

Of all the options out there, why do builders decide to partner with Opendoor?

More than two-thirds of home sellers are also buying a home, yet we hear from customers every day that buying and selling at the same time is nearly impossible. Trying to time the closing dates can cause a huge strain, often resulting in the hassle of moving twice, the financial burden of a double mortgage, or even losing out on a dream home due to unavoidable building timelines. 

Opendoor’s homebuilder partner program exists to alleviate those stressors by eliminating contingencies and fall-throughs. Moreover, this transaction can all be done online, creating a seamless process for customers, sales associates, and homebuilders alike. We partner with builders across the country and work with over 2,000 sales offices. Our program has helped generate more than $4 billion in new home sales by closing volume for our builder partners, which includes 8 of the top 10 builders in the U.S. in addition to hundreds of independent builders. 

We work with builders of all sizes and hear from builders every day that they see the value and experience the growth in their business when partnering with Opendoor. We also have a dedicated team at Opendoor that works hand-in-hand with our builder partners nationwide to walk customers through every step of the process. We know that moving is one of life’s most important transactions, but it has also always been an incredibly stressful one— we’re here to change that.