| | DECEMBER 20218CIOReviewIN MY OPINIONTHE APPLICABILITY OF EMERGING CONSTRUCTION TECHNOLOGYBy Brad Bonney, VP of Operations at OpendoorResidential real estate has gone undisrupted for decades. It's been outdated and offline in a predominantly online world, and in many ways, construction has historically been the same way. However, recent innovations are transforming traditional processes, where digital and virtual technologies in construction and home renovation are leading the way to make processes more streamlined for everyone.Over the years, Opendoor has taken steps to make its in-field operators and trade partners more efficient. Typically, construction lead times give teams ample amount of time to prepare scopes of work, job assignments, and more. But, this can also result in long project timelines and uncertainty that harms both trade professionals and end consumers. In contrast, Opendoor focuses on starting jobs as quickly as possible. This way, we can ensure trade professionals aren't living with the uncertainty of waiting for their next job and operators are getting homes renovated and ready to sell on the market. Queuing up homes accurately and efficiently is important to Opendoor's success. To do this, we're constantly evolving our processes and using digital and virtual technology to deliver the most seamless experience. Here are a few ways we've innovated home renovation and construction over the past year. Virtualizing the assessment process While major parts of the business were virtual and self-serve before the pandemic, our core renovation operations still required real-world interaction at multiple points throughout the project lifecycle, like home assessments and repairs, for example. Brad Bonney
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