PHOENIX (KSAZ) - It's an out of the box concept, one that is bound to change to ways of real estate. A company called Opendoor is making it possible for you to try it, even after you buy it. A way to purchase a new home, move in and see if you truly like it. If you want to move out, there are no strings attached.
This new policy is not only 20 days longer than the standard contract policy in Arizona, but it also protects against unforeseen issues like problems with pools, roofs, A/C units, and even bad neighbors.
"I sort of embrace new technology and new ways of doing things, and this really to me is sort of the Uber to the taxi industry. It's going to change things a lot," said Ernie Wagner.
Ernie Wagner just bought a home through Opendoor.
"It was a great experience, it was very easy, very streamline, very simple process, we were able to come and go as we wanted," said Wagner.
Opendoor essentially cuts out the middle man and lets customers have controlled-access to homes 24 hours a day and it's all for free. But now they're changing the game, even more with a 30-day satisfaction guarantee policy.
"When it comes right down to it, you think about it, we have 30 days to decide if we like it or not. We could technically decide this isn't our home, this isn't gonna work for us, and we can walk away," said Wagner.
Realtors are still getting used to the idea. But they admit the 30-day guarantee is unprecedented and the way of the future.
"I think anytime something like this is adopted into industry, and it's accepted by consumers and sellers alike, that it's going to be a wave that is just going to have to overtake just about everybody that's trying to sell their house," said J.D. Ross.
Co-founder J.D. Ross says the policy was created to put the control back in the customers hands.
"Real estate has always been an industry that's had a lot of people who weren't necessarily on your side, and we thought there was a huge opportunity to create a service for people who are looking to buy or sell a home to be treated fairly," said Ross.
Opendoor is in Phoenix; it's launching in Dallas, and they hope to be all over the United States in a few years.