Eight Best Marketing Practices to Fund New Loans Faster

Join our expert panelists to learn which best marketing practices will help you get to your customer quickly with your best offer – and win their business for another loan term.

engage.marketing event: All eyes on purchase

To help power your business forward, we’re bringing together the smartest minds in purchase mortgage marketing to share the insights, tactics and strategies that set leaders apart.

Behind the executive exodus at Fannie Mae

What's behind the wave of executive departures at Fannie Mae? It's not just money, according to former employees of the GSE.

2021 Agent Rankings now live

Today RealTrends + Tom Ferry announce the 16th annual The Thousand of America's top 1,000 real estate sales and professionals and teams.

BrokerageReal Estate

Opendoor, Atlanta, and the future of iBuying

A dive into the Peachtree city market reveals real estate agents frustrated with the new iBuyer on the block

HW-atlanta-homes

After a review of Atlanta area property records, it would appear Kim Klir is the most successful real estate agent in world history. Between April 2020 and the end of March this year, Opendoor, an iBuyer but also a residential brokerage, sold 1,613 homes listed on First Multiple Listings Service, the greater Atlanta region’s National Association of Realtors’ endorsed spot for home listings.

Of those sales, Klir was the listing agent for 1,213 of the 1,613 deals, according to FMLS data. Klir sold more than three homes per day, every day of the year.

But Klir was mostly invisible to buyers’ agents. In fact, agents didn’t know who at Opendoor they would get routed toward, a process they compared to dealing with an unevenly run DMV. 

Opendoor is a “pain in the neck,” said Cheryl Butler, an agent at Coldwell Banker Realty in Atlanta. For Sarah Shurden, also of Coldwell Banker, “It was a pain in the butt.”

Formed in San Francisco in 2014, Opendoor stands at the vanguard of businesses that cast their lot with the instant purchase, and then resale of homes. Led by CEO Eric Wu, Opendoor is arguably normalizing iBuyers in real estate.

HousingWire looked at Opendoor’s metropolitan Atlanta operations, because the company has bought homes in the market since 2017. Plus, Atlanta is an Opendoor engineering and sales hub, and the region is replete with the modest abodes that dot the brokerage’s housing stock.

This content is exclusively for HW+ members.

Start an HW+ Membership now for less than $1 a day.

Your HW+ Membership includes:

  • Unlimited access to HW+ articles and analysis
  • Exclusive access to the HW+ Slack community and virtual events
  • HousingWire Magazine delivered to your home or office
  • Become a member today

    Already a member? log in

    Most Popular Articles

    Fannie Mae gives go-ahead for digital verification

    Fannie Mae has given mortgage servicers the green light to use third-party digital vendors to verify income and asset information. Mortgage tech firms are thrilled.

    Jun 10, 2021 By

    Latest Articles

    Mortgage forbearance drops as expiration date nears

    Mortgages in forbearance fell for the 15th consecutive week last week to 4.04% of servicers’ portfolio volume ― a 12 basis point decline, according to a survey from the Mortgage Bankers Association.

    Jun 14, 2021 By
    3d rendering of a row of luxury townhouses along a street

    Log In

    Forgot Password?

    Don't have an account? Please