Portfolio Manager

Location

This is an in-person role in the Phoenix, AZ office. Candidates must be based within a 50-mile commuting distance of the office and able to be physically present in the office 4 days a week. 

About the Team

Portfolio Managers (PMs) are responsible for our inventory from acquisition close of escrow to final resale.  The portfolio manager’s task impact is one of the largest drivers of the company’s Profit and Loss (P&L) that an individual contributor at Opendoor can make.  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 Will 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 Bring

• 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 that you operate.
• Proven ability to review large amounts of data to guide effective and impactful decision-making
• Experience with Excel and Amazon Quicksight for data analysis
• Coachability - Willingness to be trained in Opendoor Pricing products and tools
• Ability to prioritize work load activities and complete tasks within deadlines 
• Excellent verbal, written, and interpersonal communication skills
• Excellent collaboration skills with team members and portfolio stakeholders (ex. S&S) 

Compensation:

Our compensation reflects the cost of labor across several  U.S. geographic markets, and we pay differently based on those defined markets. The U.S. base pay range for this position in Phoenix, Arizona  is$75,000 - $94,000 annually. Pay within this range varies by work location and may also depend on job-related knowledge, skills, and experience. Your recruiter can share more about the specific salary range for the job location during the hiring process. We also offer a comprehensive package of benefits including paid time off,12 paid holidays per year, medical/dental/vision insurance, basic life insurance, and 401(k) to eligible employees.

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