Buying then flipping homes is a business model for OpenDoor Labs

Going through a real-estate broker can be timely, but OpenDoor Labs Inc. is an internet startup where homeowners can sell their homes fast, but with a cost.

Wall Street Journal staffer Rolfe Winkler writes that Opendoor has data scientists and software that assert they'll find the best prices for homes and cars. Opendoor is a bit more unique than other companies, because it actually owns all the homes it lists for sale.

“We’re introducing liquidity to a marketplace that doesn’t have any,” said the company’s co-founder, Keith Rabois, a venture capitalist who was an early executive at payments firms Square Inc. and PayPal Holdings Inc.

OpenDoor appeals to people who need to move quickly. After a seller fills out an online form, it performs a quick market analysis and makes an offer.

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