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the question i have is whether "be openhanded and freely lend" is the same as "sell everything you have and give to the poor"
"Sell everything you have and give to the poor" is simply a practical expression of "be openhanded and freely lend". One that is fitting for this particular individual, not necessarily for every one.
The point is, he has not been keeping the lawful command to be generous despite his claim to have kept the law. Remember, he asked what he must do to enter eternal life. Jesus told him. And he pointed out in a not so obvious way that he must also keep the command to be generous to enter eternal life. Not because keeping them earns eternal life, but because keeping them would show he has the faith of Abraham, the faith that justifies apart from what it does.