FTC slaps Opendoor with $62M fine for “misleading” sellers – Robert Khodadadian

A prominent iBuyer’s marketing tactics opened the door to a big penalty from the Federal Trade Commission. The FTC fined Opendoor $62 million, saying the iBuyer misled customers by saying they could make more money selling homes to the company than via the traditional route, Insider reported. The fine is part of a settlement with the agency. According to the FTC, Opendoor’s marketing materials appeared to promise consumers would make more selling to the company

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Home Page, Residential Real Estate, federal trade commission, home sales, iBuying, opendoor, Technology The Real Deal New York Read More