I’m interviewing at Opendoor and wanted to know what people’s thoughts are about the place? Culture? Brand perception? Business model?
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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.
So basically I think things are good and would recommend it.
I'm looking forward to continuing the interview process. Thanks again!