Mimi Foster, Voted Colorado Springs Best Realtor (Falcon Property Company)

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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

the problem is the "settlement" doesn't make them admit to any wrong doing.  

Aug 01, 2022 08:18 PM
Ambassador
3,145,821
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I do not see Opendoor in my market.

It amazes me how much BULL people believe and will make decisions without doing their homework. 

Aug 01, 2022 04:37 PM
Ambassador
2,759,799
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Opendoor is not present in my market, Mimi...looks like they were shown the back door though. Woah!

Aug 01, 2022 06:45 PM
Rainmaker
938,505
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

WOW
and their stocks have tanked
Nowhere near my hood!
I guess we're not all that replaceable after all, LOL

Aug 01, 2022 04:32 PM
Rainmaker
2,053,918
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I had not seen this Mimi Foster but I am unaware of them being active in North Dakota. I am glad that they got nailed for their misdeeds.  

Aug 01, 2022 06:52 PM
Ambassador
3,386,748
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Yes they were very aggressive for awhile but after losing a ton of money from over paying for properties and stock going way down....well you know the rest.

Aug 01, 2022 04:47 PM
Rainmaker
3,671,343
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Mimi Foster Opendoor not much active in my area. 

Aug 01, 2022 04:27 PM
Ambassador
3,938,805
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I saw it, read the headline, and was very happy to see they were being punished for false claims.  More people/companies need to be held accountable for their actions.  The world should not be filled with scams and it shouldn't be so difficult to know what is true or untrue.

Aug 02, 2022 05:06 AM
Ambassador
4,722,045
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Yes, I did see this. Opendoor is in our market but not particularly active IMO.

Aug 01, 2022 09:31 PM
Rainmaker
518,744
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

They have been pretty active in the Sacramento area.  The last few years with the market so hot, I really do not know why anyone would sell off market.  It just did not make sense.

Aug 02, 2022 05:59 AM
Ambassador
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Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

I haven't seen OpenDoor in my area but I know they are active elsewhere. They're going to have to change their marketing, "We'll give you less money but you can get out of town quicker!"  haha

Aug 02, 2022 04:48 AM
Rainmaker
4,434,224
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

It's about time! Open Door is reasonably active here... sadly, too many people figure out they had a problem selling to Open Door after it was too late.

Aug 02, 2022 04:33 AM
Rainmaker
6,967,478
Roy Kelley
Retired - Gaithersburg, MD

I have not seen any of their activity in our area of Maryland.

Aug 02, 2022 04:29 AM
Rainmaker
4,510,721
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Not that I am aware. When it sounds too good to be true, it usually is! Nuff said! See the comment by Kathleen Daniels, Probate & Trust Specialist

Aug 02, 2022 04:09 AM
Rainmaker
523,981
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

I have heard of them , but they are not active in our area

Aug 02, 2022 03:25 AM
Rainmaker
418,639
Shayne Stone
HomeSmart - Fulshear, TX
"Your Rock Solid Choice Realtor"

I have seen them and dealt with losing Sellers to them. But I was really happy later, when I learned from knowing what they paid for the houses and what they ended up losing being time on Market (DOM) as well as PROFIT they made... LOL

 

Aug 02, 2022 06:41 AM
Rainmaker
914,708
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I have used OPEN DOOR to benefit sellers.
They DID overpay for the property.
Seller made out well and I got paid.
When OPENDOOR resold the property, they took a great loss.
These tools CAN be used to benefit sellers if agents do their homework.
However, when the consumer places a high value on convenience (Amscot) they reject professional representation (auction) they have a great vulnerability to get taken advantage of.
I prefer having LOTS of tools.
THE citizen seems PREDISPOSED to overpaying for CONVENINCE.

Aug 02, 2022 05:33 AM
Rainmaker
687,723
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

We have them in our community and it was interesting for a short time.  Then it became intrusive so I unsubscribed.

Aug 01, 2022 09:05 PM
Rainmaker
5,266,041
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Opendoor was very active in Denver, and then tried to sell the homes WAY over fair market value.   Glad to see this happen.

Aug 02, 2022 06:33 AM
Rainmaker
2,684,052
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Those in charge rolled the dice! No sevens for them! 

Aug 02, 2022 05:46 AM
Rainmaker
963,126
Peter Mohylsky. BRIX REALTY
Brix Realty - Destin - Miramar Beach, FL
BRIX REALTY -DESTIN

I see them advertisements but no real experience.

Aug 02, 2022 03:52 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Looks like this may be the end for them.

Aug 01, 2022 11:50 PM
Rainer
249,473
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse specialist

No, Opendoor doesn't have a presence in Manhattan. Even if they decide to dip their toe in the waters here- it's unlikely it will ever grow a sizable presence here. Most of our housing stock (about 70%) are co-op's and in order to purchase a co-op, it's a lengthy process where the buyer can be rejected. Most co-op's won't approve any investors, buyers where the new owner isn't going to use the apartment for a primary residence or co-operate with i-Buyer programs. Of the much smaller inventory that might be open for iBuyer programs- I don't know Opendoor's thresholds but I know Zillow's iBuyer program had a price threshold that was too low for most Manhattan condos. It wouldn't surprise me if Opendoor had similiarly low thresholds while ensuring a balanced portfolio.

Aug 02, 2022 08:23 AM
Rainmaker
1,048,897
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hadn't seen that. What's with people?

Aug 02, 2022 07:43 AM
Rainmaker
808,597
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Wow! I had not seen this. Yes, they've been very active in our market. They had some issues with the RE commission here had their license suspended for 18 months then had it stayed which seemed to make no sense. 

Edited to add the link from the FTC.

Aug 02, 2022 06:22 AM
Ambassador
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Alan May
Jameson Sotheby's International Realty - Evanston, IL
A moving experience!

I don't know if they're in our area... I know the name, but haven't seen any of their "listings".

Aug 02, 2022 06:08 AM
Rainmaker
1,001,643
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

The iBuyer concept, as proven by Zillow, is a flawed concept. It is nice the see the disruption of a disruptor.

Aug 02, 2022 05:16 PM
Rainmaker
1,549,405
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Yes, they are in Los Angeles, San Diego, Riverside in CA, and their headquarter in San Francisco CA, so we have the privilege of having the company attention. 

Aug 02, 2022 12:35 PM
Rainer
302,037
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

Funny how it worked out that people were scammed and cheated and the government gets the money. (things that make you go hmmmmmmmm)

Aug 02, 2022 10:10 AM
Rainmaker
4,279,593
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I saw that this morning, interesting.  (I gave your name and number to a agent that has a friend looking to buy around Broadmoor)  Hope they call you

 

Aug 02, 2022 08:48 AM
Rainmaker
1,425,100
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

The claims mentioned were along the lines of what I've heard from others.  Open door does market in my area and I've seen one or two listings in the last year or so.

Aug 02, 2022 10:34 AM
Rainmaker
1,347,227
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

NICE!

There's no APP for what we do. No short cuts typically either. 😉

Aug 02, 2022 07:02 PM
Ambassador
4,512,311
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I saw that, Mimi!

Open Door is a brokerage here so, I can't legally/ethically say anything against them but, they are prominent in our market.

I will say that we have been competing against Wall Street companies for several years. In fact, we know how to compete against AND work with them as well.  

 

I'm anxious to see if they slow down in our market after this news...

Aug 02, 2022 06:53 PM
Rainmaker
590,222
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Read it in the New York Times this morning.  They aren't active in my area, too high end and sellers are probably more informed here. 

Aug 02, 2022 10:59 AM
Rainmaker
1,661,651
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Looks good on them.  I hope the money will reach those who were affected.

Aug 02, 2022 07:58 PM
Rainmaker
2,051,605
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

They did very well this year with Buying Low and Selling for more . There must have been quite a few of complaints to bring about this action 

Aug 03, 2022 06:52 AM