Opendoor Market Leadership and Valuation
Pricing advantage: data, accuracy and automation
Feature level home data
Meaningful improvements in accuracy
145
Unique features per
inspection
175K
On-site inspections
25M
Home level data inputs
1B
Home level adjustments
Countertops
+$5.1K for granite
Bedrooms
+$15.0K from 2 to 3
Roofing
+$9.0K if < 5 yrs
Appliances
+$3.9K for stainless steel
Hardwood floors
+$1.5 / sq ft
HVAC system
+$8.5K if <3 yrs
Garage
+$4.5K / space
Predicted vs. actual resale price
(absolute delta)
2Q18 acquisition cohort.
2Q19 acquisition cohort.
Least mature
More mature
Most mature
Market
maturity
With step-function increases in automation
41%
63%
1Q16
1Q18
1Q20
Note:
On-site inspections and home-level adjustment metrics reflect to-date company data as of August 2020; feature price adjustments indicative
Accuracy data based on expected resale price at time of underwriting vs. realized sale price. Automation rate based on percentage of offers sent without human intervention
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