The iBuyer market has seen an unpredictable partnership between Opendoor and Redfin as the two companies have come together to begin purchasing homes in Phoenix and Atlanta.
"With this partnership, home sellers will have the opportunity to compare listing their home on the open market with a full-service Redfin agent to receiving an instant offer from Opendoor and skipping the process of listing altogether," the companies said in the announcement, according to HousingWire.
"By presenting a complete set of selling options, Opendoor and Redfin are empowering homeowners to make the best decision based on their needs and situation."
The partnership will work with homeowners having the ability to request an instant offer from Opendoor. After the request, a Redfin agent and the seller will meet for a consultation on how the selling process works, their home's value on the open market as well as what the offer would be from Opendoor.
"At that point, they can either choose to sell directly to Opendoor, or they can list their home with Redfin for a 1.5% listing fee," according to the report.
"The homeowner can also choose not to meet with a Redfin agent and take their Opendoor offer directly through the site. But either way, Redfin will receive a referral fee for each customer who decides to sell to Opendoor."
To learn more about the partnership between Opendoor and Redfin, click on the image above.