What is it like working at Opendoor?
I’m interviewing at Opendoor and wanted to know what people’s thoughts are about the place? Culture? Brand perception? Business model?
I enjoy it. This year will be very important, probably more stressful than years future. We’re scaling aggressively, expecting to add 20-30 markets over the next two years. Couple that with an expected downturn in housing and this year might be a little more stressful. Culture is a challenge for some teams. I don’t personally have any issues, but our blind channel has some unhappy people. Aggressive scaling and focus on our business means some people/teams feel extra pressure to work instead of having some fun every once in a while. I may not be jaded enough yet but it seems like leadership is making an effort to improve this issue. Brand perception is another interesting challenge - we’ll always be fighting the webuyuglyhouses.com perception, but we operate a different kind of business than they do. From an eng perspective for brand perception, I definitely have been getting targeted by more recruiters since starting at OD if that’s what you’re concerned with. Grossly oversimplified, the business model is flipping houses. There's a ton of nuance there, and a lot of money to be made in adjacent services as well that we're focusing on. We buy at market price, charge sellers for repairs that we do, and charge a fee to cover overhead and “make money”. The fee is currently comparable to selling with a normal agent, but we could do it cheaper, or when we expect houses to depreciate we could raise the fee since we're offering liquidity as the value prop.
In any case, overall I really like the work and the company. Culture is YMMV as with anywhere but where I am I think it’s healthy, and I think leadership is trustworthy and is working to improve the culture and has a good idea of where the business needs to go to make it. So basically I think things are good and would recommend it.
Thank you! I know others will be looking to learn more about Opendoor, so this was amazingly insightful for both I and them. The company has a strong business model and is scaling amazingly fast. Given how big real estate is, I'm glad to hear the urgency in capturing the market while they're ahead. I'm looking forward to continuing the interview process. Thanks again!
Opendoor is shit product they offered 100k less than the comps around the area. One can understand 20 to 30k but 100k is just too much. Zillow offered 50k more than opendoor, which is still a shit offer but better than opendoor.
As the term implies, employees are encouraged to stop by whenever they feel the need to meet and ask questions, discuss suggestions, and address problems or concerns with management. An open door policy is typically intended to foster an environment of collaboration, high performance, and mutual respect between upper management and employees.
I thought OP was asking about Opendoor, the company
*whoosh*