The Federal Trade Commission (FTC) has initiated a refund process, distributing nearly $62 million to 54,689 former Opendoor customers, primarily California sellers, who were misled by the online real estate company's marketing strategies. These strategies falsely promised more profitable sales and reduced expenses. The action follows a settlement involving Opendoor Labs, a prominent player in the real estate industry, accused of deceiving sellers. Each affected homeowner is set to receive a median refund of $1,024.
FTC announced today it is “sending payments totaling nearly $62 million to 54,689 homeowners who sold their home to Opendoor Labs.” Median refund from Opendoor: $1,024 https://t.co/wIr5TTtiAy https://t.co/wNdvkT7UfH
Today, the @FTC announced it is “sending payments totaling nearly $62 million to 54,689 homeowners who sold their home to Opendoor Labs.” Median refund: $1,024 You can track it here: https://t.co/wIr5TTtiAy https://t.co/J2BIyFA4CF
Nearly 55,000 home sellers to receive $62 million in refunds from Opendoor https://t.co/7YsvGMsZ9F
The FTC is issuing $62 million to 55,000 Opendoor customers it says were deceived by the iBuyer’s marketing, which promised sellers they would make more and spend less https://t.co/ug1ovW1GYs
Sold your home to Opendoor? California sellers getting piece of $62 million settlement https://t.co/StbTij7zbl
FTC sends nearly $62 million in refunds to sellers deceived by online real estate listing service Opendoor Labs: https://t.co/ubnCmsiWX3
The seller is a California real estate investment firm. https://t.co/FnbqjazVnG