Rolfe Winkler wrote about a startup that could change how people sell houses:

• OpenDoor Labs pays cash for homes that people quickly want to sell, and then goes onto sell the same home a few weeks later for a fat profit of about $15,000 a house.
• After users enter their address they’re presented with an estimate. Then an inspector comes over to look at the condition of the house and provide an updated offer.
• The startup aims to make selling homes easier by helping homeowners use the internet, and avoid the headache of a broker.
• OpenDoor prides itself on the strength of its algorithms to accurately price homes.
• The startup then offers 24-hour open houses by having doors that unlock via text and security cameras to monitor visitors.
• Since OpenDoor actually owns the homes it’s possible the startup will fail the next time a housing crash rolls around.

Read more here.

Source: The Wall Street Journal

Via: Marginal Revolution