Opendoor is now the primary cash offer solution behind eXp’s ExpressOffers platform. Agents will soon be able to request a cash offer on qualified properties directly through an eXp dashboard.
No one can predict the future of real estate, but you can prepare. Find out what to prepare for and pick up the tools you’ll need at Virtual Inman Connect on Nov. 1-2, 2023. And don’t miss Inman Connect New York on Jan. 23-25, 2024, where AI, capital and more will be center stage. Bet big on the future and join us at Connect.
EXp Realty and iBuyer Opendoor have teamed up in a new partnership to provide eXp’s agents with cash offer solutions for their clients, the companies announced Tuesday.
Through the partnership, Opendoor will become the primary cash offer solution behind eXp’s ExpressOffers platform through an integrated API tool. By simply going to their eXp dashboard, agents will be able to request a cash offer on those properties that qualify for one and present that offer as an option to their clients, in addition to the option of putting their home on the open market.
When eXp first launched its ExpressOffers program in the fall of 2019, it pulled offers from multiple iBuyers to present to a consumer at once. With the recent fallout of iBuyers, however, Opendoor and Offerpad are the two primary iBuyers that have remained viable in the market today.
“Empowering the nearly 90,000 trusted eXp Realty agents at America’s largest independent brokerage with on-demand integrated access to an Opendoor cash offer will empower their millions of clients,” Nick Boniakowski, head of Agents Partnerships at Opendoor, said in a statement. “This partnership gives sellers a simple and certain option, supported by their eXp Realty agent and backed by an Opendoor cash offer. It’s also the first step of a broader relationship that gives us a trusted partner for future opportunities to better serve our customers.”
The partnership will give eXp Realty agents one more viable option for how to navigate a home sale with a seller. If a client opts for an Opendoor cash offer, an agent can also receive perks from Opendoor, including a 1 percent referral fee on top of any already negotiated client commission, as well as be eligible for Agent Access loyalty points that can accrue to yield rewards.
“This is a huge win for our agents and their clients,” Leo Pareja, eXp Realty chief strategy officer, said in a statement. “Our focus is always squarely on our agents and making it easier for them to drive their business forward. The ability to offer their clients this seamless solution quickly and easily is a significant differentiator.”
Added eXp agent and team leader Kendall Bonner, “As a tenured eXp agent who has worked with Opendoor for years, I’m confident this partnership is going to be a game-changer for my fellow eXp agents and all of our clients. Being able to work within eXp’s existing platform to bring that cash offer solution to all homesellers at the outset puts us in a new category entirely.”
The product will launch to customers in the next few months across the U.S.
Opendoor also announced in August 2022 a similar partnership with Zillow to provide cash offers to consumers, which officially launched in February 2023 in Atlanta and Raleigh. The companies announced in June that the program would expand into 11 new markets.
Email Lillian Dickerson