Former real estate rivals Opendoor and Zillow now partners

Zillow and Opendoor once fought each other to provide sellers with instant cash offers. Now they are partnering to exchange customer leads in Colorado.

“The reality is that once Zillow had left our space, there was a really nice symbiosis between us. We share the vision that consumers deserve to have an e-commerce-like buying and selling experience,” said Brian Tolkin, vice president of product at San Francisco-based Opendoor.

Opendoor is the nation’s largest iBuyer, a model that provides sellers with instant cash offers, handles repairs for them and allows more control over the timing of a sale than waiting around for a buyer to show up. The company has purchased and resold about 4,000 homes locally since its arrival in Denver in October 2018, Tolkin said.

Its chief competitor in Denver and elsewhere had been a Zillow subsidiary called Zillow Offers, which entered the Denver market in 2018 but closed shop in November 2021 after its property valuation models caused it to overpay for homes and take a loss on their resale.

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