Laura Kusisto
speaker
689 appearances
14 recordings
1 series
first heard Jul 2017
last heard Nov 2023
Laura Kusisto’s voice in public audio — every appearance, attributed to the second.
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Appearances
Of course, I don't know what the full universe of people is, but I talked to some people who said that real estate agents warn them, well, they'll give you a really good offering price, but then they'll nickel and dime you on the inspection, and before you know it, you won't be getting nearly as much as you thought you would.
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But then when they went through the process, they said they actually got more money than if they tried to put it on the market, or at least than they were going to list it for, and they didn't have to go through all the hassle of selling a house.
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Yeah.
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Opendoor has an in-house brokerage team, but they don't use external brokers.
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There is a point where you think, do I really need an agent to sell my home if someone will come by, give me an offer within 24 hours, take it off my hands?
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All that work that the agent does in terms of fixing your home up, getting it ready to sell, pricing the home, it becomes somewhat irrelevant, especially if someone's buying a new home and people don't generally use agents to buy new homes either.
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Yeah.
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The idea is that Opendoor can benefit in two ways.
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First of all, they take a fee that's similar to the commission that you would have paid to a real estate agent.
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Second of all, in this market at least, chances are they're going to take part in some upside if they turn around and resell it.
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Because we're in a rising market, they'll put a little bit of money into it.
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The idea is that they can benefit from some appreciation.
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What I say in the story that I'm a little bit skeptical about, I would certainly be wary about if I were an investor, is
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Especially with new homes where people often don't move in for three to six months, where is the housing market going to be three to six months from now?
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especially we're in an era of rising mortgage rates.
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Mortgage rates are now at the highest level in seven years.
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They're expected to continue going up.
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That just inevitably at some point puts downward pressure on house prices and on demand.
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And so they're definitely exposing themselves to some risk there.
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Yeah, thanks so much.
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