iBuyer Beware: FTC Settles With Corporate Real Estate Firm Over 'Deceptive' Practices
Today the U.S. Federal Trade Commission (FTC) released a statement regarding a settlement with iBuyer firm, Opendoor, over what the FTC claims were 'deceptive' business practices by the company. Several iBuyer companies have come on to the real estate scene in the last several years as they moved to capitalize on rising home prices. These firms provide potential home sellers with 'instant offers' and often claim to use technology to simplify the home selling process. Opendo