Portfolio Manager

Segment (Twilio); Tempe (AZ); On-site; USD 120,000 - 190,000; Full time

Job summary

Opendoor is seeking a Portfolio Manager to own the pricing lifecycle for hundreds of properties, from acquisition close to resale. You will set initial prices, decide on price drops, and review markup while collaborating with Listing Partners and Homes Ops teams.

Qualifications include 3+ years in pricing decisions, data analysis skills, and proficiency with Excel and QuickSight. This in-person role is based in Phoenix, AZ, with four days weekly at the office.

Qualifications

• At least 3 years of pricing-related decision experience.
• Expertise in the markets you operate.
• Ability to review large amounts of data to guide effective decisions.
• Experience with Excel, Amazon QuickSight and AI tools for data analysis.
• Coachability and willingness to be trained in Opendoor Pricing products.
• Ability to prioritize workload and meet deadlines.
• Excellent verbal, written, and interpersonal communication skills.
• Excellent collaboration skills with portfolio stakeholders.

Responsibilities

• Setting Initial List Prices (ILP): Determine the value of Opendoor’s acquired properties based on market changes since acquisition and the home condition after renovations.
• Price Drops (PDs) and Weekly Triages: Make weekly price drop decisions for hundreds of homes using data and market signals.
• List Price Reviews (LPRs): Review property values every 30 days to adjust markup.
• Buyer Offer Escalations: Evaluate bids below calculated price and decide on acceptance or denial.
• Appraisals: Assess external appraisals and negotiate contributions or relist as needed.

Skills

Communication

Data analysis

Team collaboration

Prioritization

Coachability

Tools

Excel

Amazon QuickSight

AI tools

Job description

About the Role

Portfolio Managers (PMs) are responsible for our inventory from acquisition close of escrow to final resale. The Portfolio Manager role is one of the largest drivers of the company’s Profit and Loss (P&L) impact for an individual contributor. Portfolio Managers are responsible for up to 300 properties directly under their supervision, working closely with Listing Partners and Homes Ops teams, guiding resale decisions while Opendoor owns the properties.

What You'll Do

• Setting Initial List Prices (ILP): Determine the value of Opendoor’s acquired properties based on market changes since acquisition and the home condition after renovations. Calculate markup based on active and closed competition as well as submarket resale indicators.
• Price Drops (PDs) and Weekly Triages: Make highly-informed decisions on a weekly basis regarding any necessary price drops for hundreds of homes, by interpreting data and market-level demand signals received. Balance total cost of renovations against a price drop to determine if any homes that received buyer feedback require additional renovations by the Homes team.
• List Price Reviews (LPRs): Review property values every 30 days to adjust markup based on changes in the resale environment.
• Buyer Offer Escalations: Evaluate buyer bids below the calculated price based on resale demand data, previous offers, and local market signals, to determine if offer value is fair or should be denied.
• Appraisals: Assess external appraisals that differ from our valuation to confirm if appraisal value is fair/unfair. Make recommendations for negotiating contributions from the buyer or placing the property back on the market as appropriate.

What You'll Need

• At least 3 years of experience in making difficult pricing decisions as either a Pricing Analyst, Options Trader, Single Family Rental manager (REIT), Mortgage Credit Risk Manager, Pricing Strategist, or Real Estate Asset Manager.
• Expertise in the markets in which you operate.
• Proven ability to review large amounts of data to guide effective and impactful decision-making.
• Experience with Excel, Amazon Quicksight and AI tools (e.g., Co-work) for data analysis.
• Coachability - Willingness to be trained in Opendoor Pricing products and tools.
• Ability to prioritize workload and complete tasks within deadlines.
• Excellent verbal, written, and interpersonal communication skills.
• Excellent collaboration skills with team members and portfolio stakeholders (ex. S&S).

Location

This role is based in our Phoenix, AZ office, in-person four days per week (Monday, Tuesday, Thursday, Friday). Candidates must be based within commuting distance of the office.