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pendoor, the leading iBuyer in real estate, has reported a 25% increase in annual revenue despite facing headwinds in the housing market. The company's CEO, Carrie Wheeler, emphasized that Opendoor aims to provide sellers with more choices beyond its standard cash offer. This includes listing products such as List with Opendoor and Opendoor Exclusives, which allow sellers to list their homes on the MLS or opt for a backup cash offer.

    Wheeler highlighted the potential of these products to "unlock new revenue opportunities" by catering to high-intent sellers who may not be satisfied with a standard cash offer. The company plans to continue expanding its listing products in 2025, including Opendoor Exclusives, which is currently available in select markets.

    Opendoor's focus on seller choice has been a key aspect of the debate over Clear Cooperation, a policy aimed at providing consumers with full access and transparency in real estate transactions. Wheeler acknowledged that while CCP is essential, there is room for evolution, particularly when it comes to exposing homes on the MLS.

    Key statistics from Opendoor's earnings report include:

    * Revenue: $1.1 billion in Q4 2024, up 25% year-over-year

    * Cash and cash equivalents: $671 million, down from $999 million at the end of 2023

    * Net loss: $113 million in Q4 2024 versus $91 million during the same period the previous year

    * Units acquired/sold: 14,684 homes purchased in 2024, up 30.6% from 11,246 in 2023

    In contrast, Offerpad, another major iBuyer, reported a net loss of $62.2 million in 2024, which improved by 47% compared to the previous year. Offerpad's CEO, Brian Bair, highlighted the company's product improvements and its Renovate program, which delivered over $18 million in revenue in 2024, a 49% increase.