Opendoor: Is a Monopoly Forming?
Real estate is one of society's largest, oldest industries and has managed to resist significant disruption for many decades. In recent years, companies like Opendoor Technologies (NASDAQ: OPEN) have been attempting to improve the homebuying process with iBuying, where companies buy homes and resell them on the market.
Opendoor's largest competitor, Zillow (NASDAQ: ZG) (NASDAQ: Z), recently quit iBuying, causing investors to question whether the business model can work. Here is why Opendoor's path could lead to dominance in real estate.
Buying and selling a home isn't known to be an enjoyable process; it's the most significant purchase that most folks will make in their lives. The transaction process has many steps and can take more than two months to complete.
Source Fool.com
