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A comment on Zillow lost money because they weren't willing to lose money. Parent comment

Re:Zillow lost money because they weren't willing to lose money by damanamathos on Sunday November 28, 2021 @10:51AM (#29369821)
Most people don't know what their home is worth, and if you get two appraisers or realtors to give you an estimate they'll likely be quite different.

Similarly, if you think a house is worth $500k but you list it for $600k, you don't know if someone will decide they love that house and they're willing to pay that amount or not.

That's one reason Opendoor tends to list houses at a fair premium to what they paid, as sometimes someone decides it is worth it and they make 20%+ on homes like that.

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Re:Zillow lost money because they weren't willing to lose money by emodendroket on Sunday November 28, 2021 @11:20PM (#29376322)
Yeah, and by the same token, you don't know if the buyer offering the top amount is really going to pull through, giving an offer from OpenDoor a certain appeal.
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