The Federal Trade Commission Makes Opendoor Pay $62 million | |||||||||||||||||||
FTC has started sending checks to 54,689 people. Each individual will end up with $1,024 in their pocket. | |||||||||||||||||||
Opendoor has been asked to refund a total of $62 million to 54,689 home sellers as a part of its settement with the FTC. The settlement was announced on April 3rd and the FTC said it would start sending out checks on the same day. Every recipient should get around $1,024, according to Inman. | |||||||||||||||||||
Allegations Against OpendoorOpendoor has been facing heat over its marketing. The primary allegations mentioned in the FTC press release are:
Samuel Levine, Director of the Bureau of Consumer Protection at FTC, said, “Opendoor promised to revolutionize the real estate market but built its business using old-fashioned deception about how much consumers could earn from selling their homes on the platform.” Actions RequiredOpendoor agreed to the settlement terms. The FTC asked the iBuyer to:
Opendoor has accepted the settlement but still strongly disagrees with the allegations. Opendoor also clarified that the case was with regards to the company's activities between 2017 and 2019. Opendoor has modified its marketing messages since then. Want more real estate news? Visit our YouTube website and subscribe! | |||||||||||||||||||
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Sad News. Tim Harrington of Austin, Texas passed away in mid-February 2024 from a heart attack. His Memorial Service is 2/29/2024 2 pm, @ Austin Ridge Bible Church in Westlake.
The Above Photo was taken by Jim Innes during his Podium Eulogy talk for Tim Harrington. To Say the Westlake Austin Ridge Bible Church memorial service was PACKED, would be an understatement. Tim Harrington was a good man, and friend of many. He was relatable, authentic, funny, caring and social. George Vance..... Just making sure you know that Tim Harrington passed away last weekend. Heart attack. Tim’s Memorial Service will be: 2/29/24 at 2 PM at Austin Ridge Bible Church at 9300 Bee Cave Rd, Austin, TX 78733 in Westlake. At the Worship Center building. Please spread the word. GVM speaking here, "Tim showed up on my 40th birthday at Pitch N Putt for an afternoon of golf and bullshit. Tim was in good spirits that afternoon after boasting of his mega million dollar commercial fresh sale in SoCo. St. Elmo @ the ol' Hills Cafe. Tim was a former SOUTHWESTERN door to door salesman and alumnus like me. A fellow bookman. Tim showed up @ my BookPeople booksignin...
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