Meet Openhouse: A Zero-Commission Property Platform with Guaranteed 90-day Sales

A new player is upending the Indian real estate market, which usually entails months of uncertainty, numerous showings, and high commissions when selling residential property.

With its revolutionary service, Openhouse promised homeowners unmatched things like immediate offers, 90-day sales guarantees, and no commission costs.

The business tackles long-standing issues in the fragmented Indian real estate market, where homeowners have traditionally had to deal with lowball offers and drawn-out sales procedures that frequently lead to distressed sales.

Rahool Sureka, a Co-Founder of Openhouse and an IIT Delhi graduate who started Fitso (later bought by Zomato), stated that homeowners should not have to decide between accepting below-market bids or waiting indefinitely. "Without the typical hassles, our data-driven method guarantees sellers receive fair market value."

Openhouse provides homeowners with a fixed price up front, eliminating the uncertainty and stress associated with the process, in contrast to traditional brokers who frequently engage in opaque business methods and make untrue claims. The business only makes money if it can sell the house for more money by making improvements to it, such as little repairs, expert staging, and improved presentation. With this strategy, everyone benefits: Openhouse connects its success with providing genuine value, and homeowners receive predictability and fair compensation.

Openhouse provides a smooth experience for sellers by handling every step of the transaction process, from setting up property tours and buyer verification to completing the necessary paperwork. In their first year of business, they hope to sell 1,000 homes, and they have already maintained a 100% success rate on all properties for which they provided a selling guarantee.

Openhouse, which was co-founded by Sureka and Ankit Khemka, a chartered accountant who was previously CFO at AppyHigh and Fitso, offers expert management knowledge to a sector that is sometimes accused for lacking structure and transparency. With its "no delays, no distress pricing, no stress" pledge, Openhouse seems to be giving sellers more control in a market where homeowners typically feel disadvantaged.