We definitely experienced this starting Open Listings. We thought that to begin with we would only be serving the 2/3 of transactions made by experienced buyers, but it turns out that over half of the buyers we attract are first timers. In retrospect, this makes sense: our savings is appealing to young families, and first timers don't have attachments to the status quo of getting driven around by a realtor in a Cadillac. Rather than saying no, we embraced these clients and have retooled our product to be more educational and broadly accessible. It's working so far in terms of ramping up revenue, staying default alive, and we're stoked to make homebuying more affordable to people who really need it the most. Our finding is that first time buyers don't actually need more service but they do need slightly more education and reassurance, which we try to accomplish mostly through UI and documentation.
