Opendoor

“With us, we even have something called a thirty-day satisfaction guarantee. So you can actually return the home to us if you don't like it.”

“And this is not the traditional big data problem. In the traditional big data problem, You have basically a lot of data, right, so a lot of n. Really in this problem we have very wide data.”

“Now, the offer that a seller gets has two numbers in them. One is the fair market value. So this is what we think your home would sell for on the market. And the other one is a fee. And that fee actually flexes depending on the risk of the home.”

“And so practically speaking, what we do is a combination of deep learning, so we have a couple boxes, and Amazon has running CARES and is kind of turning all these photos into structured data, and also a lot of crowdsourcing.”

“People like to close in round numbers. So you see these striations, and it's because people like to close for 200 K or 201 K, when in fact, you know, that's just totally just human emotions at play.”

“We'll actually make an offer for your house and buy it from you so that you don't have to endure three months of stress and headache.”