“Opendoor promised to revolutionize the real estate market but built its business using old-fashioned deception about how much consumers could earn from selling their homes on the platform,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection. “There is nothing innovative about cheating consumers.”
Traditional real estate (personal service with a real person) may not be the glamour of other more “instant gratification” services like iBuyers, but there’s a reason it hails number 1.
Part of our job as REALTORs® is to serve as fiduciaries for our clients and ensure the highest level of commitment and service. We MUST put the interest of our client first – even above our own. That includes making sure everyone is aware of complaints such as the one pictured here.
Always remember it may look like you’re saving money (penny wise and pound foolish), but traditional agents are more motivated to help you win the deal at the best terms. Meaning you’re more likely to make more money or spend less with us.
Before you decide to go with company A or B, give your professional REALTOR® a chance to win your business.
Read the entire complaint on the FTC: https://www.ftc.gov/news-events/news/press-releases/2022/08/ftc-takes-action-stop-online-home-buying-firm-opendoor-labs-inc-cheating-potential-sellers
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