Q4/2021 and FY 2021: Opendoor Blows the Doors Open

Opendoor reported its Q4 and full year 2021 earnings last Thursday, and I needed to take some time to think through things.

Long story short, Opendoor blew the doors wide open with its performance. It has replaced Redfin as the most important company in residential real estate, and it’s on the heels of Zillow to be the new frontrunner for the Iron Throne. And while Eric Wu really talked down the whole competition angle with Zillow exiting iBuying thing, I can’t help but feel that Opendoor’s results showcase just how big a strategic misstep Zillow’s withdrawal was.

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-rsh

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Rob Hahn

Rob Hahn

Managing Partner of 7DS Associates, and the grand poobah of this here blog. Once called "a revolutionary in a really nice suit", people often wonder what I do for a living because I have the temerity to not talk about my clients and my work for clients. Suffice to say that I do strategy work for some of the largest organizations and companies in real estate, as well as some of the smallest startups and agent teams, but usually only on projects that interest me with big implications for reforming this wonderful, crazy, lovable yet frustrating real estate industry of ours.

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