9 Jan- Mar 2022faster for consumers. And yes, it needs to work in concert with the real life customer needs that are requiring the move in the first place. Digitization shouldnt distract from the overall home buying and selling experience; it should allow a customer to feel like theyre able to enjoy it more, or do so with more ease. And humans should always be readily accessible to the customer should they need it or feel like they want that added touch.2. Home repairsHome repairs are an inescapable part of the home transaction. When it comes down to it, you cant digitally hammer a nail or paint a wall. That said, there is a lot of opportunity to develop technology and software applications to streamline the process. When we work with vendors on home repairs, theres a lot of project management that can be handled digitally. Weve built software to streamline their management and workstreams, but ultimately, we need to physically oversee the work before returning the home to the market for resale. In this same vein, weve reduced the time it takes to assess homes were purchasing by more than half using proprietary software we developed in-house. This software, combined with deep analytics, speeds up our decision-making and increases the accuracy of our assessments, in turn reducing costs and allowing us to centralize more operations.3. LocationLocation, location, location"that all-important homebuying trope"alsocant be fully evaluated virtually. Weve seen considerable changes in preferences about home location over the past year, as remote work has altered our thoughts about commuting and proximity to a workplace. What really is challenging to evaluate virtually is the local community and those personal factors that vary for every individual looking to buy a home. One family may be concerned about their ability to see family for joint meals, celebrations, or childcare help, while another may be interested in the friendliness of their neighbors. Street noise, available sunlight and an infinite number of other factors that impact a persons satisfaction and happiness in their home, can be challenging to assess without experiencing them in person. As we look to the future and the continued transformation of the real estate industry, theres so much potential to continue using technology to improve peoples lives. Digital tools can help people at their most important moments"from selling their first home to moving into their forever home. But ultimately there are always going to be aspects that cant be automated and that will benefit from human guidance, interactions, and emotion. Megan Meyer Toolson is Chief Customer Officer at Opendoor. She is responsible for go-to-market efforts including marketing, sales and support, in-market operations, and market expansion. Since 2015, Megan has served in multiple operational and leadership roles at Opendoor. Most recently, she was the Head of Operations, overseeing the day-to-day centralized and local activities required to efficiently buy and sell thousands of homes per month. She previously held positions at McKinsey & Company, Bain Capital, Hulu and Vessel. She is an alumna of Stanfords Graduate School of Business and the University of Texas at Austin. As we look to the future and the continued transformation of the real estate industry, there's so much potential to continue using technology to improve people's lives
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