Real Estate

Opendoor Is In $62M Worth Of Legal Trouble: The Real Word

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Byron Lazine and Nicole White are two agents in Connecticut who give us their thoughts on the week’s news every Friday in “The Real Word,” a weekly video column on Inman.

Byron Lazine is solo in this week’s episode discussing the Federal Trade Commission’s $62 million fine imposed on Opendoor involving allegations wherein sellers made thousands of dollars less with Opendoor than they would have made selling their homes through traditional methods while Opendoor misrepresented the benefits of their services. Opendoor has answered prior lowball offer allegations, saying they’re “just not true” while Lazine says that Opendoor has gone out of its way to “crap on” real estate agents.

Next, Lazine looked at a new report from Canadian company looking at the top 10 markets where homes are taking the longest to sell. Lazine said that the study was flawed because it pulled from Zillow statistics over the last four years, making it essentially meaningless. This type of story is the kind of thing that gives consumers bad information and good agents should be shredding these “studies”.

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