The all-in-one real estate platform at openlistings.com represents the next step in the home buying experience. Designed for the tech-savvy consumer, Open Listings lets members complete the home buying process without the aid of a traditional real estate agent. The results? A 50% refund of the standard agent's commision and a total customer savings of over $8 million dollars. And with the company recently surpassing $1 billion dollars in total sales, member savings average out to approximately $9,000 per user.
The Open Listings story is both fascinating and instructive. It also provides a glimpse into the possible future of the entire real estate market.
Significantly, Open Listings has achieved its impressive numbers in the space of just over three years. Launched in February 2015, Open Listings' high-tech approach to home buying attracted forward-thinking investors like Reddit co-founder Alexis Ohanian. His substantial investment proved to a harbinger of things to come. Soon, millennials and other tech-savvy customers flocked to the site in droves. This allowed the California-based company to quickly expand into Seattle, Austin, Chicago, and Dallas.
So what is it about this ambitious company that has persuaded so many home buyers to abandon the services of a conventional real estate agent? For starters, the reduced commission has proven to be quite the incentive. Open Listings' website has also managed to streamline the daunting, complicated process of buying a home. Combine these factors with the digital vector the global economy now travels and you get a company that might soon dominate the entire real estate market.
Not surprisingly, innovation has fueled Open Listings meteoric rise. This innovative vision was evident from the beginning-- the very concept of an all-in-one home buying platform marks a radical departure from the industry's standard procedures. Yes, the internet was already glutted with online real estate services and easy-to-use apps when Open Listings got started. But as useful as they once were, these services now seem like glorified classified sections.
A quick rundown of how the site works will further demonstrate the role innovation has played in Open Listings' rapid ascent. Members can use the site's next-wave software to navigate the entire home buying process. They can browse homes for sale in their area, schedule on-demand showings, and submit an offer. But the real estate agent hasn't been completely eliminated from the equation. Open Listings has affiliated agents that can help members with everything from the initial showing to the closing details.
Prior to actually choosing a home, users can utilize Open Listings' personalized feed. Driven by advanced market analytics, this feed allows members to view homes that match their search criteria effortlessly. These features are available on both the Open Listing website and their IOS or Android app. Most importantly, these services are free of charge. Open Listings only collects its fee after members have closed on their home.
All in all, the Open Listings platform gives members a slick and streamlined home buying experience. Along with the 50% reduction in commission, this is a chief reason that Open Listings might very well completely transform the real estate business.