Customer reviews | Opendoor vs. competitors | Opendoor vs. a realtor | How Opendoor works | Opendoor fees | Opendoor for buyers | Is Opendoor legitimate? | Is Opendoor right for you?
Opendoor is the nation’s largest iBuyer, a company that makes near-instant cash offers on homes. Opendoor is a decent option for homeowners who need to sell quickly. But it generally pays less than market value and charges heavily for inspection-related repairs on top of its 5% service fee.
Working with a traditional real estate agent usually nets you more profit, especially if you opt for a realtor offering more competitive commission rates. But if you’re looking to avoid a traditional listing, consider comparing Opendoor’s offer to other reputable cash buyers, which may offer better terms.
Our recommendation: Start with a free service like Clever Offers, which helps you source competing offers from its nationwide network of iBuyers and investors — with no added fees or obligation.
Opendoor reviews
| Company | Average rating (out of 5) |
|---|---|
| BBB | 1.15 (226 reviews) |
| 1.4 (45 reviews) | |
| reviews.io | 4.5 (3,276 reviews) |
| Trustpilot | 3.6 (158 reviews) |
| Zillow | 4.6 (74 reviews) |
| Weighted average | 4.2 (3,800+ reviews) |
Opendoor reviews from sellers
Pros
- Fast offers with flexible closing dates
- Responsive customer service
- Easy process to navigate
Cons
- Final offers much lower than initial estimates
- High fees and repair costs
- Lack of transparency around repairs
Selling with Opendoor comes with a lot of positives. You might sacrifice some of your profits, but you get out of doing repairs and scheduling open houses.
However, online Opendoor reviews don’t always have nice things to say about the company. Overall, commenters noted a lack of transparency from Opendoor, which has a tendency to lower its initial offers significantly after the mandatory home inspection without itemizing repairs.
Others complain about high fees and repair costs taking a huge bite out of their profits.
| “Great experience” Alicia, ⭐⭐⭐⭐⭐ Michelle our experience partner was wonderful. Everyone involved was helpful and nice from beginning to end, but most importantly we received a fast and fair offer/closing that allowed us to jump on an amazing opportunity for our new home. Best of all no hassle with showing our home, offers falling through, having to do repairs, etc. Source: Trustpilot |
| “Huge waste of time” Bronson B., ⭐ I waited two weeks for the walkthrough assessment only to get an offer $50k lower than the original on a house that has had a top to bottom remodel in the last 12 months. After fees, closing, and “Claimed” repairs, it was $110k under the initial offer. This is a fraudulent tactic to try and manipulate people with no other option into making poor financial decisions. This is a very predatory way of doing business. Source: BBB |
| “Know your value” Tim B., ⭐⭐⭐ Their offer was better than I expected. And they even added another $5k on top. However, with everything they take to close the deal, it came out to around 8% commission (roughly $39k) in total closing. They wanted $13k for “repairs” but wouldn’t itemized what they deemed needing repaired. And $600 HVAC even though it’s all less than 5 years old. Felt like nickle and diming. Source: Trustpilot |
Opendoor reviews from buyers
Pros
- Can bring your own agent
- Fast close (14–45 days)
- Large selection of homes
Cons
- Trouble using the app’s self-guided tour feature
- High-priced listings
- Poor or incomplete repairs
Many Opendoor reviewers say they had trouble accessing self-guided home tours using the Opendoor app.
But, mostly, buyers complain about paying top dollar for homes that have undisclosed issues or poor-quality repairs. In some cases, customers complain that Opendoor knowingly makes cosmetic updates to hide problems that affect the home’s safety and livability.
| “Trouble using the app” Marlin F., ⭐ Scheduled on your app. Drove 45 minutes out of my way with my entire family. Arrived and the door wouldn’t open. It said call support. I called and the guy wouldn’t open the door because I told them I had a realtor. The app should have never told me that I could do a “self guided” tour. What a waste of my time! Source: Google |
| “Avoid them when buying” Joshua M., ⭐ The work they did on the house was awful. They used the cheapest contractor they could find. My new furnace and ac werent even hooked all the way up, paint was terrible, new roof leaked. Avoid them when buying a house. Source: BBB |
| “Purchased a house from Opendoor” Traci T., ⭐ After refusing to negotiate on price and not disclosing any issues on the house, we paid near the top of the appraised value for a house from the 70’s and so far it’s ended up having extensive severe termite damage, live termites, leaky pipes, and poorly installed new flooring that isn’t level and is breaking apart. We’re going to go bankrupt on it just to make it livable. We’re on a fixed income, this has ruined our lives. Source: Trustpilot |
Opendoor vs. competitors
Opendoor is the nation’s first and largest iBuyer, but there are plenty of companies willing to buy your house for cash. Here’s how Opendoor compares other top cash home buyers.
| Company | Fees | Avg. Rating | Locations | Best for |
|---|---|---|---|---|
| Clever Offers | None | 5.0/5 | Nationwide | Multiple competing offers, legitimate investors |
| Offerpad | 5% | 4.0/5 | AZ, CO, FL, GA, IL, IN, KS, MO, NV, NC, OH, SC, TN, TX | Bundle rewards for selling, buying, financing |
| WeBuyHouses | None | 4.6/5 | Nationwide (except AK) | Homes in poor condition |
| Opendoor | 5% | 4.2/5 | AL, AZ, CA, CO, FL, GA, ID, IN, MA, MI, MN, MO, NM, NV, NJ, NY, NC, OH, OK, OR, SC, TN, TX, UT, WA, VA, DC | Hassle-free home sales |
Opendoor vs. a realtor
iBuyers like Opendoor make a profit by purchasing homes for slightly below their market value and reselling them for a higher price — collecting a service fee and charging for repairs along the way.
Given that Opendoor’s fees cost about the same as what you’d pay to a realtor, putting your home on the market can increase both your sale price and negotiating power — even if you need to sell quickly.
Your potential profit increases even more if you choose to list with an agent from a reputable discount brokerage like the well-known or Redfin or Clever Real Estate , which prenegotiate lower commission rates with top local realtors across the country.
The tradeoff, of course, is that you’ll generally have to prep your home showings and vacate the premises at some point to allow buyers to walk through. You may also need to make some repairs to bring your home in line with buyers’ expectations — unless you plan to sell your house as is.
And while it can be hard to predict when your home will actually sell with a traditional listing, Opendoor offers a closing date of your choosing.
If you’re on the fence about selling for cash vs. listing a realtor, we recommend collecting proposals from both through a free service like Clever Offers. Clever lets you compare offers from leading cash buyers in their network (including iBuyers like Opendoor and Offerpad) against an agent’s opinion of your home value — with no obligation to move forward. That way you can know for sure how much money you might be leaving on the table.
Get fair offers from cash home buyers now
What is Opendoor?
Opendoor is an iBuyer company. It buys houses for cash, usually offering less than fair market value. Homeowners can also use the company to list their homes on the market.
To get an offer, homeowners enter their home’s information on Opendoor’s website. The offer usually arrives in a few minutes, and Opendoor promises a sale within days for qualifying homes.
Unlike some iBuyers or “we buy houses for cash” companies that buy fixer-uppers, Opendoor focuses on buying move-in ready homes in good condition.
How does Opendoor work?
Opendoor has options for buyers and sellers. You’ll pay a flat 5% fee if you’re selling your property. The fee is slightly lower than a traditional agent commission of 6% but significantly more than the 1% you’ll pay when working with a discount real estate broker.
Homeowners are drawn to Opendoor if they need to sell their homes and get cash in hand quickly. The entire process can take just a few weeks. Usually, sellers receive an Opendoor offer within 48 hours and can close in as few as 14 days. Opendoor says it offers flexible timelines for sellers, and closing can extend to 60 days.
Opendoor also works with buyers. If you’re looking for a house, search the website for available properties and submit an offer directly online or through your real estate agent. Typically, homebuyers using Opendoor close within 14–45 days, making it fast and straightforward to buy a home.
When buying through Opendoor, you won’t pay a fee for their service. However, you’re responsible for the buyer’s closing costs — usually around 2% to 5% of the sale price — no matter how you choose to buy the home.
How Opendoor works for sellers
Homeowners submit a questionnaire and photos of their property to Opendoor to begin the offer process. The site doesn’t require photos, but photos can help you get a higher offer.
Opendoor also asks you to record a video walkthrough of your home. It reasons that more information results in a more accurate price.
Only certain homes are eligible for an Opendoor cash offer. Homes must meet these criteria:
- Single-family homes or townhomes, with duplexes and condos eligible in certain markets
- Valued between $100,000–$600,000, with exceptions up to $1.4 million in certain markets
- Maximum lot size of 2 acres
- Typically must have been built after 1930
- Can’t be in a flood zone
- Owner must have a free and clear title of the home
- Located in a market where Opendoor operates
The company considers several elements to determine your home’s value:
- Unique features of your home
- Upgrades to your home
- Your home’s location
- Recent sales of similar homes (also known as comps)
- Current local real estate market trends
How to get an offer from Opendoor
After submitting the online form, you’ll get an initial cash offer for your house within 48 hours if your home qualifies.
Here’s a step-by-step guide to getting an offer from Opendoor:
- Complete Opendoor’s instant offer form on its website. You’ll need your property address, size, condition, features, and photos.
- Check your email inbox for an offer. Opendoor sends you a preliminary offer and may request more information to give you an updated offer.
- Record a video walkthrough of your house. A walkthrough gives Opendoor more information about your house so it can give you the best price.
- Review the offer. The final offer expires in seven days. However, you can extend it to 14 days if you schedule a virtual walkthrough.
- Accept the offer. If you’re satisfied with the offer, sign the purchase agreement and set a closing date.
- Close on the sale. You can choose a closing date based on your timeline. Opendoor will transfer the funds within a few days after closing.
An Opendoor agent will do a free virtual assessment from your video walkthrough. If Opendoor requests repairs, the costs come out of your net proceeds. You can cancel the contract without penalty before closing if you disagree with the requested repairs or think you can get more on the open market.
Generally, you should expect Opendoor’s purchase offer for your home to be below the listing price, but that’s a sacrifice some home sellers are willing to make for a cash offer.
Opendoor fees
Opendoor’s fees vary slightly depending on which route you take toward selling.
If you sell to Opendoor directly, you’ll be charged a service fee equal to 5% of the home’s sale price, plus variable repair deductions (ranging from a few thousand dollars to several tens-of-thousands) and traditional closing costs of about 1% to cover the title transfer, attorney fees, etc.
If you list your home with an Opendoor partner agent and use the cash offer as a backup, you’ll pay a traditional brokerage commission of about 6%. You’ll also pay the usual closings and any concessions agreed to with the buyer.
| Expense | Selling to Opendoor | Listing with Opendoor |
|---|---|---|
| Service fee | 5% | ~6% |
| Estimated closing cost | 1% | 1% |
| Repairs/seller concessions | Varies (based on Opendoor assessment) | Varies (based on buyer inspection) |
How Opendoor works for buyers
Opendoor’s website lists hundreds of homes for sale, including homes they own and listings from the MLS (multiple listing service). If you see a property you like, you can tour it at your convenience between 6 a.m. and 9 p.m. daily.
Buying a house with Opendoor is similar to the traditional buying process. You can submit an offer directly or through your agent. You’ll typically get a response within a day or two. If a seller accepts your offer, you’ll sign a purchase agreement and proceed with the home-buying process.
You can close on your home within 2–5 weeks. Buyers pay around 2%–5% of the sale price in closing costs.
Can you negotiate with Opendoor?
Opendoor rarely negotiates with customers. You may have more leverage working with a real estate agent.
Opendoor says it will work with you to find a fair price for both parties, so there may be some wiggle room to negotiate — but don’t expect any major changes.
Is Opendoor legit?
Yes, Opendoor’s offers are legitimate. The company launched in 2014 in San Francisco and has helped thousands of customers.
Opendoor makes its money by charging service fees when buying property from sellers. It can also make money by selling a home for more than it paid.
Opendoor has a decent reputation for making fair home offers compared to traditional investors, but some sellers complain that offers are lowered significantly following the mandatory home inspection. Unpredictable repair costs and service fees can also chip away at your offer price.
Is Opendoor right for you?
Opendoor is an option for homeowners who don’t want the hassle of selling their house traditionally. However, with Opendoor, you won’t get top dollar for your home.
If you want free advice, try Clever Real Estate. With Clever’s cash buyer program, you can compare proposals from leading investors, iBuyers, and realtors in their nationwide network — all without any additional fees or commitment. (And you won’t get spammed — all offers will be legitimate and they’ll take care of letting the buyer know if you decide to decline an offer.)
If you choose to sell with a Clever agent, you’ll only pay 1.5% ($3,000 minimum). Or, you may need to sell fast, and a cash buyer offer may be the best route. Either way, you’ll make an informed decision.