Opendoor | Proptech Talk Thursday #8

Welcome to my new PropTech Talk Thursday series to take a look and provide my candid thoughts on new Proptech businesses. These could range from products to companies leveraging technology to improve all facets of real estate. The Real Estate industry is one of the slowest to adopt technology but there are many opportunities along with money chasing these opportunities. Did you know that there is the option to sell your home online in some cities across the US without working with an agent? Let’s talk about the iBuyer movement and the largest of them all, Opendoor.


Based in San Francisco, CA, Opendoor has raised more than $1.5B in funding to date. Just a week ago, Opendoor made a deal with Chamath Palihapitiya to go public via a $4.8B SPAC deal. They are a newer breed of real estate company whereas Zillow and Redfin transformed how consumers searched for properties, Opendoor actually buys properties directly. They are an iBuyer that buys homes in cash based on their own algorithm. They deal with single-family homes built after 1960, priced between $125,000 and $500,000. But don’t try to sell them complete fixers as they disregard distressed properties, which require too much work, or more expensive properties, which are harder to value. Sorry Bay Area! ;)


So, how does it work? Property owners enter in information about their homes along with a bid on the online platform. When a bid is accepted, Opendoor purchases the property as-is, charging a fee slightly above the commissions real estate agents collect in return for the convenience of closing a sale quickly. They take a service fee of 6%, which is similar to the standard real estate commission, plus an additional fee that varies with its assessment of the riskiness of the transaction and brings the total charge to an average of 8%. They then improve and repair the property before relisting it. They are holding literally thousands of homes at a given time since when they acquire the home, they are the owners. Think of them like a flipper, but on steroids with a ton of capital.


Now this seems great, right? No Realtor, no showings, just some rich company buying your home. While the costs are a little higher than working with a Realtor, your net is likely significantly lower. Remember, that you are not selling what the market will pay for the home but what one company is willing to value. These companies want/need margin for each home so are you actually netting the most amount? Unlikely. The concept of buying direct has been going on for decades. I can buy your home in all cash if you allow me to. It doesn’t mean I or any investors would be willing to pay market but if you wanted the convenience, that can be done today. However, the margins they ask for is much lower than investors given their massive volume and huge capital war chest.


Summary: If you want a quick and convenient way to sell your home, Opendoor and Ibuyers are great options for that. If you want to sell for top dollar, go with a top Realtor in your market in place. Tell me what you think and if you would sell directly to one of these companies.

--

If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!


📧Spencer@spencerhsu.com

📞 (408) 547-4590

⏰ Set up a time to chat: https://calendly.com/spencerhsure

🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/

🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate

📸Follow me on Instagram: https://www.instagram.com/spencerhsure

🧑‍💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu

🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7

🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW

--

My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!

Spencer Hsu, MBA, Realtor

Spencer@SpencerHsu.com

408-547-4590

EXP Realty DRE #02077253

https://www.homesbyspencerhsu.com/

#BayAreaRealEstate

Avsnitt(362)

January 2025 Bay Area Real Estate Market Update | Get Ready for the Bull Run

January 2025 Bay Area Real Estate Market Update | Get Ready for the Bull Run

Schedule a Zoom call with me! https://calendly.com/spencerhsureCurious about the Bay Area real estate market as 2024 wraps up? In this video, we dive into the latest trends, from inventory levels to median home prices across key counties like Santa Clara, San Mateo, Alameda, and more.🏠 Key Highlights:Inventory trends: Where is supply heading?Median prices: Are they rising, stabilizing, or dropping?Days on market & sales volume insights.County-by-county breakdown of top performing areas.If you're planning to buy, sell, or invest, now is the time to strategize for 2024. As a top-producing agent helping over 60 families this year, I’m here to guide you every step of the way.🗨️ Share your thoughts in the comments—do you prefer this new format or live updates?Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590DRE 02077253Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ LinkedIn: https://www.linkedin.com/in/spencerhsu/_________________________________#BayAreaRealEstate #LivingintheBayArea #siliconvalley

1 Jan 14min

Moving From Texas to the Bay Area (Interview with a Software Engineer in his 20s)

Moving From Texas to the Bay Area (Interview with a Software Engineer in his 20s)

Making the move from Texas to the Bay Area is a big leap, but for my client, it was a life-changing opportunity he couldn’t pass up. From doubling his salary as a software engineer in Big Tech to finding his first home in San Jose, my client shares his inspiring journey.In this video, you’ll discover:The financial and career benefits of relocating to Silicon Valley.The challenges of renting versus buying in one of the most competitive markets.How my client strategically chose a condo to build equity while balancing affordability and lifestyle.Key tips for new homebuyers, from expanding your search area to maximizing commute flexibility.Whether you’re considering a similar move or curious about what it takes to buy your first home in the Bay Area, this story is packed with practical advice and real-world insights.🏡 Ready to start your own journey to homeownership in the Bay Area? Contact me today for expert guidance and support.#BayAreaRealEstate #MovingToTheBayArea #HomeBuyingJourney #SiliconValleyHomes #TexasToCaliforniaSpencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590DRE 02077253Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ LinkedIn: https://www.linkedin.com/in/spencerhsu/

24 Dec 202416min

DC to the Bay: How They Found Their Dream Home in Just 6 Months! (Interview with Client)

DC to the Bay: How They Found Their Dream Home in Just 6 Months! (Interview with Client)

Moving from Washington, DC to the Bay Area and buying a home in just six months? It’s no small feat, but this family made it happen! 🏡✨In this video, we’ll walk you through their inspiring relocation journey—from planning the move, navigating the competitive Bay Area housing market, and overcoming challenges, to finally finding their dream home.Whether you’re moving for work, family, or just a fresh start, their story is packed with tips, insights, and lessons that can help anyone considering a big move.Thinking of relocating to the Bay Area? Let’s make your dream a reality. DM me today to start your journey! 📩#BayAreaRealEstate #RelocationJourney #MovingFromDC #BayAreaHomeBuying #DreamHomeJourneySpencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590DRE 02077253Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ LinkedIn: https://www.linkedin.com/in/spencerhsu/_________________________________#BayAreaRealEstate #LivingintheBayArea #siliconvalley

14 Dec 202415min

Where Bay Area Housing Market is Headed in 2025

Where Bay Area Housing Market is Headed in 2025

What’s ahead for the Bay Area real estate market in 2025? 🏡 From rising home prices to shifting inventory trends, this video breaks down everything you need to know. Whether you're thinking about moving to the Bay Area or searching for homes for sale, these predictions could shape your plans. Are interest rates cooling off? Will it finally be easier to find your dream home? Let’s dive into what’s next for Bay Area housing!

13 Dec 202412min

NEW Bay Area Homes in 2025: What’s Coming & Where to Look!

NEW Bay Area Homes in 2025: What’s Coming & Where to Look!

🌟 Looking to Buy a New Construction Home in the Bay Area in 2025? 🏡 From stylish condos to elegant townhomes and luxurious single-family homes, I’ve got the ultimate guide to finding your perfect new home! 🚪✨ In 2024, I helped over 60 families make their real estate dreams a reality. Now, I’m here to help YOU navigate the top new construction communities across the Bay Area, including Morgan Hill, Saratoga, Cupertino, Gilroy, Walnut Creek, and more. Here’s what you’ll discover in this video: ✅ The best Bay Area communities for new construction. ✅ Pricing insights for condos, townhomes, and single-family homes. ✅ Insider builder tips to save you time and money. ✅ Why working with an experienced Realtor can make all the difference—at no extra cost to you! ✨ Whether you're looking for affordable options or luxurious builds, let’s create a personalized plan to help you buy, sell, or invest in 2025. 📩 Message me today to start your journey to your dream home!

9 Dec 202415min

San Mateo County 2024: What You Need to Know Before Moving

San Mateo County 2024: What You Need to Know Before Moving

Thinking about making San Mateo County your new home? 🌉 This video breaks down everything you need to know about this vibrant and diverse region in the Bay Area. From its bustling cities like Redwood City and San Mateo to quieter gems like Hillsborough and Burlingame, we’ll guide you through the best places to live, work, and thrive. Learn about housing markets, schools, amenities, and which neighborhoods fit your lifestyle. Whether you're relocating, upgrading, or simply curious, this comprehensive guide will give you the insider scoop on life in San Mateo County! 🏡 Ready to find your dream home in San Mateo County? Let’s make it happen—DM me to start your journey today! #SanMateoCounty #BayAreaRealEstate #RelocationGuide #DreamHomeJourney #SanMateoLiving Whether you're relocating to the Bay Area or looking for a new home in Northern California, don't miss out on these incredible homes.

6 Dec 202422min

Bay Area Home Ownership WITHOUT a Tech Salary? (This Midwest Family Proves It’s Possible!)

Bay Area Home Ownership WITHOUT a Tech Salary? (This Midwest Family Proves It’s Possible!)

🏡 From Midwest to Bay Area Success! 🌉Sticker shock? Check. Creative strategy? Double-check. 💡This Midwest family didn’t let high Bay Area prices stop them! In just 18 months, they went from renting to owning their dream single-family home—all without tech salaries. 🔑✨💼 How did they do it?✔️ Smart financial planning✔️ Leveraging condo equity✔️ Understanding the Bay Area market📈 The result? Doubling their initial investment in under 15 months and securing their forever home.👉 Curious how you can make your Bay Area real estate dreams a reality? DM me to chat strategies tailored to your goals!#BayAreaRealEstate #SuccessStory #DreamHomeJourney #CreativeHomeBuying #RealEstateGoals

25 Nov 202446min

🌟 Discover the Enclave in Walnut Creek 🌟

🌟 Discover the Enclave in Walnut Creek 🌟

We recently toured some breathtaking new construction homes in Walnut Creek’s exclusive Enclave, crafted by Haven Development. This is luxury living redefined, right here in Northern California! From expansive layouts to modern, thoughtful designs, each home is built to exceed expectations. Join us for a virtual tour showcasing elegant interiors, high-end amenities, and the beautiful surroundings of this prime location. Whether you’re relocating to the Bay Area or searching for a new home, don’t miss out on these exceptional homes! 🏡✨ #LuxuryLiving #NewConstruction #BayAreaRealEstate #WalnutCreek

13 Nov 202410min

Populärt inom Business & ekonomi

badfluence
framgangspodden
varvet
rss-borsens-finest
uppgang-och-fall
svd-ledarredaktionen
rss-svart-marknad
avanzapodden
rss-dagen-med-di
lastbilspodden
borsmorgon
rss-inga-dumma-fragor-om-pengar
affarsvarlden
24fragor
fill-or-kill
rss-kort-lang-analyspodden-fran-di
rss-badfluence
bathina-en-podcast
rss-den-nya-ekonomin
rikatillsammans-om-privatekonomi-rikedom-i-livet