GREENSBORO, N.C. — Throughout the pandemic, we've seen companies struggle while others found success. One that has continued to build in business has been real estate and not always in the typical way we're used to buying and selling homes.
The housing market has been hot.
"It's crazy, right? It's hotter than its ever been because there's such a lack of supply," Jon Enberg, Opendoor general manager of the Carolinas, said.
The market was something Greensboro resident, Keshia Hutchinson, wanted to take advantage of. She had a goal to eliminate all of her debt before her 50th birthday in July.
She said she knew she could sell her house in this seller's market and save a lot of money.
"I wanted my last chapter to just be traveling and fun and not bogged down by the bad decisions that I made in the last couple of decades," Hutchinson said.
She wanted to sell her home, but soon the stress of selling sunk in. She was working two jobs while trying to schedule showings and fix repairs. She said it became too much.
"It became overwhelming to me and so I got online just to see what was out there," Hutchinson said.
A quick Google search led her to Opendoor. It's a company that buys and sells homes online.
Enberg said Opendoor is customer-driven. A buyer or seller initiates everything. Opendoor then takes over and does all the repairs and puts the house on the market.
"We take on the risks and pressure of selling a home as opposed to wholesalers and flippers who are buying homes at a tremendous discount," Enberg said.
Hutchinson said she did everything from her phone including a virtual tour. In just three days she said she had a finalized offer and a signed contract. In two weeks, she closed. She said it was too good to be true.
"I'm telling you, I got so nervous and panicked afterward because there's no way," Hutchinson said.
Enberg said he thinks this nontraditional buying and selling is the way of the future. However, even in the digital age, he said that less than 1% of real estate sales are conducted online in the Triad. He said most people do everything in person with a realtor.
"The vast majority of transactions are still in a traditional process. We're talking about a very small percentage of the market," Enberg said.
It is an experience that allowed Hutchinson to regain her life and plan a trip to Paris without ever leaving the couch.
A common misconception with Opendoor, according to Enberg, is that they're buying homes and then putting them up for rent. Enberg said they don't rent homes.
Another common misconception, according to Opendoor.com, is how they price homes. Enberg said they look at available data, public and private, to make an offer.