Is real estate the last sector to be disrupted by the internet?

So says Open Door, the biggest player in the latest innovation in home buying and selling.

It's called I buying or instant buying.

Open Door claims to let you sell your home in just 30 seconds.

From C. M. C. I'm Dearderboza and this is Tech Check Weekly.

I sat down with Open Door CEO, Carrie Wheeler, in her first broadcast interview since assuming the role.

But first, how does it even work?

Open Door was founded nearly a decade ago, and it promised to disrupt the housing market with

a technology that could accurately price a home in just a few clicks.

The startup betting that sellers would pay a premium to get the cash fast and to forego the uncertainty of

showings, agents, and repair costs. It then collects fees from that seller,

fixes up the home, and sells it for a profit. It's an alluring idea. The United States has more

than 45 trillion dollars of housing and though just 1% of it changed hands this

year that is still a 450 billion billion market.

So even industry giants like Zillow and Redfin,

they had to try their hands,

launching their own eye-buying algorithms,

but they would soon learn just how tough of a business

that is to run.

For one, the model is extremely capital intensive,

requiring a ton of debt to carry the inventory of homes.

It also works on razor-thin margins.

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