Best iBuyer companies | Pros & cons of selling to an iBuyer | Purchase criteria | iBuyers near me | How to choose | Buy before you sell services | FAQs
The 6 best iBuyer companies in 2022
The top two iBuyer companies are Offerpad and Opendoor. Offerpad is the most flexible, has the best customer service, and also offers free local moves. Opendoor has the largest purchase volume, generally pays the most, and is available in the most locations.
Other companies like RedfinNow, FlashHouse, Keller Offers, and RealSure also make instant offers, but they don't buy nearly as many houses and are mostly focused on getting you to list your home with one of their real estate agents.
Offerpad
Full reviewService fee
6%
Closing date window
8–60 days
Average rating
3.9 (524 reviews)
Offerpad promises the certainty of a cash offer and a fast closing on a date you choose. Of all the iBuyers, Offerpad has the most flexibility when it comes to closing (8–60 days) and is liked by customers for its personalized customer service and perks like a free local move.
Pros
- There's a longer closing window compared to competitors.
- The late checkout option gives sellers up to three days to move out after closing.
- You can access additional services, such as free local moves within 50 miles.
Cons
- There's a 1% cancellation fee if you back out of the sale.
- It's not as widely available as competitors like Opendoor.
Offerpad is currently purchasing homes in 25 locations, including:
- AL: Birmingham
- AZ: Phoenix, Tucson
- CA: Riverside, Sacramento, San Bernardino
- CO: Colorado Springs, Denver, Fort Collins
- FL: Jacksonville, Orlando, Tampa
- GA: Atlanta
- IN: Fort Wayne, Indianapolis
- KS: Kansas City
- MO: Kansas City, St. Louis
- NV: Las Vegas
- NC: Charlotte (+ neighboring parts of SC), Raleigh
- OH: Columbus
- SC: Columbia
- TN: Nashville
- TX: Austin, Dallas-Fort Worth, Houston, San Antonio
As of 8/17/2022, Offerpad's average customer rating is 3.9 based on 524 reviews.
- Review.io: 2.2 (19 reviews)
- Better Business Bureau: A+ | 4.23 (258 reviews)
- Website: offerpad.com
- Phone: (844) 388-4539
- Email (sellers): info@offerpad.com
- Email (buyers): buyers@offerpad.com
Opendoor
Full reviewService fee
5%
Closing date window
14–60 days
Average rating
4.3 (3,322 reviews)
Opendoor is a good option for home sellers who need a fast, predictable sale with minimal hassle. While the price that Opendoor pays might be slightly below the value of comparable homes on the open market, the difference might be worth it for people who value convenience and speed.
Pros
- The 5% service fee is lower than some competitors.
- Many customer reviews rate the company highly.
Cons
- Offer prices may vary by market.
- You have a limited ability to negotiate.
- Buyers may find Opendoor's repairs insufficient.
Opendoor is currently purchasing homes in 47 locations, including:
- AZ: Phoenix, Tucson
- CA: Los Angeles, Riverside, Sacramento, San Diego
- CO: Denver
- FL: Jacksonville, Orlando, Tampa
- GA: Atlanta
- MN: Minneapolis–St. Paul
- NV: Las Vegas
- NC: Asheville, Charlotte, Raleigh-Durham
- OR: Portland
- TN: Nashville
- TX: Austin, Dallas–Fort Worth, Houston, San Antonio
- UT: Salt Lake City
As of 8/17/2022, Opendoor's weighted average is 4.3 based on 3,322 reviews.
- Reviews.io: 4.4 (2965 reviews)
- Better Business Bureau: 3.21 (274 reviews)
- Website: opendoor.com
- Phone: (888) 352-7075
- Email: contact@opendoor.com
RedfinNow (No longer available)
Full ReviewService Fee
5–13%
Closing Date Window
10–30 days
Average Rating
Not available
In November, 2022, Redfin announced that its home-buying service, RedfinNow, would be shut down. If you're still looking for an iBuyer, check out our list of top iBuyers.
Pros
- Expanded presence in cities across California, including several not served by other iBuyers
- Large and trusted corporate brand
- Older homes (built after 1930) are eligible in select cities
Cons
- Relatively expensive services fees (up to 13% of the offer price)
- Relatively limited flexibility on closing window, compared to competitors
RedfinNow is currently purchasing homes in 31 locations, including
- AZ: Phoenix
- CA: Inland Empire, Los Angeles, Orange County, Palm Springs, Sacramento, San Diego, San Francisco
- CO: Denver
- TX: Austin, Dallas, Houston, San Antonio
- WA: Seattle
As of 10/21/2022, RedfinNow's weighted average is 2.5 based on 7 reviews.
- Trustpilot: 2.5 | {ibuyers.redfinnow.trustpilot_count} reviews
- Website: www.redfin.com/
- Phone: (951) 229-0511
- Email: redfinnow@redfin.com
FlashHouse
Full ReviewService Fee
No service fee
Closing Date Window
14–60 days
Average Rating
5 | 171 reviews
If you don't mind leaving some money on the table from your home sale for the sake of convenience, FlashHouse could be a good option for you. There's no service fee, but FlashHouse says you should expect to get about 2% less than you would on the open market.
Pros
- No service fee, which is a great value compared to some services that charge as much as 5%
- 5-star average rating with reviews mentioning great customer service
- Leaseback option lets you stay in your old home while you wait to close on the new one
Cons
- No additional services like free local moving or cash-backed offers to help you buy a new home
- Only available in select markets in Ohio
FlashHouse is currently purchasing homes in 3 locations.
- OH: Akron, Cleveland, Columbus
As of April 7, 2022, FlashHouse's average customer service rating is 5/5 based on 171 reviews.
- Google: 5/5 (66 reviews)
- Reviews.io: 4.6/5 (20 reviews)
- Facebook: {ibuyers.flashhouse.facebook_rating}/5 ({ibuyers.flashhouse.facebook_count} reviews)
- Website: www.flashhouse.com
- Phone: 866-793-0051
- Email: info@flashhouse.com
RealSure (No longer available)
Full ReviewService Fee
8–17%
Closing Date Window
20–45 days
Average Rating
Not available
Note: As of January 10, 2023, RealSure is no longer in operation.
Pros
- No upfront enrollment fee or obligation to accept the cash offer
- FlexStay option allows you to stay in your home after selling for up to 30 days
Cons
- 8–17% service fee is up to 3 times as high as other services
- You'll still need to market and stage your home, which isn't necessary for most iBuyers
- Home eligibility requirements are stricter than other programs (no homes without central AC or heated with propane/oil)
RealSure purchases homes in 25 markets across 12 states.
- AZ: Phoenix
- CA: Los Angeles, Sacramento, San Diego
- CO: Colorado Springs, Denver
- FL: Deltona, Ft. Myers, Lakeland, Orlando, Sarasota, Tampa
- GA: Atlanta
- IL: Chicago
- NC: Charlotte
- OH: Columbus
- SC: Charleston, Columbia
- TX: Austin, Dallas, Ft. Worth, Houston, San Antonio
- UT: Salt Lake City
- WI: Milwaukee
As of April 7, 2022, there are not many verified reviews for RealSure available, likely because you access the program through a participating brokerage.
- Website: realsure.com
- Phone: 844-520-0390
- Email: info@realsure.com
Keller Offers
Full ReviewService Fee
8–13%
Closing Date Window
15–90 days
Average Rating
Not available
Keller Offers' primary focus is to find leads for Keller Williams agents, not to buy homes like other iBuyers. We recommend using an iBuyer like Offerpad or Opendoor over Keller Offers because of its lack of transparency about its potentially high service fees.
Pros
- 12-month, 0% interest loans let you fix up the home you're selling or just moved into
- Ability to compare the cash offer to what you'd potentially earn on the open market before accepting
Cons
- Must work with a Keller Williams agent to access the cash offer
- Lack of transparency about service fees, which at 8–13%, can be much higher than other iBuyers
The Keller Offers Cash Offers program is available in 22 major markets across 13 states.
- AL: Birmingham
- AZ: Phoenix, Tucson
- CO: Denver, Ft. Collins
- FL: Jacksonville, Orlando, Tampa
- GA: Atlanta
- IN: Indianapolis
- MO: Kansas City, St. Louis
- NV: Las Vegas
- NC: Charlotte, Raleigh-Durham
- OK: Oklahoma City
- SC: Columbia
- TN: Nashville
- TX: Austin, Dallas-Ft. Worth, Houston, San Antonio
As of April 7, 2022, we were unable to find many verified reviews on third-party sites like Google, Reviews.io, or Trustpilot.
Website: kelleroffers.com
Our iBuyer ranking methodology
To rank the best iBuyer companies, the Clever Real Estate editorial team spent hundreds of hours researching each business. Next, we assigned each company a total score based on three categories: value, flexibility, and accessibility.
Each category is broken down into subcategories. For instance, when we talk about value, we look at factors like offer prices and service fees.
We also give more points to large national iBuyer companies with high purchase volume, and fewer points to companies that do iBuying as a side business.
For example, Offerpad earned points for its customer service and scored highly in the flexibility category because it allows for a closing time of up to 90 days.
iBuyer companies generally pay less than you could expect to get selling your house on the open market — the tradeoff for a convenient, predictable home sale.
In addition to paying less than market value for a home, the best iBuyers also charge a service fee that amounts to 5% or more of the final sale price. Additional closing costs (1–3%) and repair expenses (1–2%) are also deducted from the iBuyers' initial offer.
If you want to get offers from the best iBuyers, sign up for Clever. You'll get matched with a top local agent who can gather cash offers from companies like Opendoor and Offerpad, present them to you, and help you choose the best fit for your situation. They'll also give you free home valuation so you know what your home is really worth on the open market. 👇
Is selling to an iBuyer worth it?
If your home is eligible, selling to an iBuyer can be a simple, hassle-free alternative to selling your home on the open market.
For example, if you need to move quickly or if you have inherited a house, an iBuyer can be a way to get cash for the property fast while avoiding home showings and listings. But you may be sacrificing some cash for the convenience of going with an iBuyer, as selling on the open market will usually earn you more money.
Before you close with an iBuyer, the company will order a home inspection, often asking for a reduction in price based on repairs it deems necessary. The final offer on your home, therefore, will likely be less than you'd get on the open market, where
you may have multiple offers from interested buyers instead of one take-it-or-leave-it offer from the iBuyer.
Pros and cons of selling to an iBuyer
👍 Pros
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👎 Cons
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How to choose an iBuyer
Each iBuyer company has unique perks that might or might not matter to you when you're getting ready to sell. Some factors to consider include:
- Closing times: What's the minimum/maximum number of days the iBuyer can allow for closing on your home?
- Service fees: How much does the company charge (percent of the sale price)? Are there any additional fees?
- Backup options: Can you stay in your home for a couple of extra weeks if your plans change? Will the company be accommodating if you need to cancel the sale?
A local real estate agent can help you weigh these and other important considerations if you're serious about selling to an iBuyer.
With Clever, a local agent can tell you what you're home is actually worth, and help you compare offers from companies like Opendoor and Offerpad. Your agent can even negotiate with iBuyers on your behalf, and help you list your home if you aren't satisfied with any of your instant offers.
Which homes qualify for most iBuyers?
iBuyer companies try to earn a profit by reselling homes — so they’re picky about what homes qualify. In a nutshell, they want to acquire homes they believe they can sell quickly and for a good price.
We reviewed the terms of service for the biggest iBuyer companies and found that most share similar criteria:
🏠 Type of home | Single family residential homes, condos, and townhomes |
🌲 Lot size | 0.5 to 1.5 acres |
💰 Valuation | $100,000 - $600,000 |
Most iBuyer companies also look for homes that are owner-occupied and in good condition.
For example, an iBuyer might be happy to repaint your home or complete minor repairs — but major water damage, a cracked foundation, or unpermitted additions might cause them to back out.
If you’re not sure whether your home will qualify, it never hurts to submit your information. In most cases, you’ll receive your cash offer (or rejection) within 24–48 hours.
Finally, keep in mind that these are general criteria and exceptions do exist. Practically every iBuyer company offers a disclaimer that their practices vary according to the specific market you’re in.
Which iBuyer companies are available near me?
iBuyer | States |
|---|---|
Offerpad | AL, AZ, CA, CO, FL, GA, IN, KS, MO, NV, NC, OH, SC, TN, TX |
Opendoor | AL, AZ, CA, CO, FL, GA, ID, IN, MN, MO, NV, NJ, NY, NC, OH, OK, OR, SC, TN, TX, UT, VA, DC |
RedfinNow | AZ, CA, CO, GA, IL, MD, MA, MN, NV, NC, OR, TN, TX, VA, WA |
FlashHouse | OH |
RealSure | CA, CO, FL, GA, IL, NC, OH, SC, TX, UT, WI |
Keller Offers | AL, AZ, CO, FL, GA, IN, MO, NV, NC, OK, SC, TN, TX |
So far, iBuyers are primarily available on the west coast and in the south — but they all have plans for expansion. For example, Opendoor has publicly announced that it plans to operate in 100 markets in the coming years.[1]
Zillow used to have an iBuying division called Zillow Offers, but the company shut down their iBuying service in late 2021. Other companies, like Rocket Homes, have plans to start their own iBuying programs, but they have yet to launch.[2]
Overall, iBuyers are continuing to buy more houses. In 2021, iBuyers bought over 71,000 homes — about 1.3% of the market share. That's five times as many as 2020.[3]
Also consider: buy before you sell services
If you need to sell quickly and are looking to buy a new home, buy before you sell services like Knock and Orchard can help. These companies ensure that you have the money you need to make an upfront cash offer on a new home before you even sell your old one.
Unlike iBuyers, buy before you sell companies don't aim to buy your home — they simply help customers sell their homes on the open market after they move out. While this could take longer than selling to an iBuyer, you'll probably get more money for your house in the end. And, you'll be able to move into your new home first, leaving the old home vacant and ready for home showings.
Aside from its core iBuying business, Opendoor also has a home trade-in service for people who want to buy and sell, or for buyers who want to make competitive all-cash offers.
However, Knock and Orchard are our two top picks for buy before you sell services.
Knock
Full reviewService fee
2%
Closing date window
Varies
Average rating
4.8/5 (710 reviews)
Knock allows customers to purchase a new home before selling their old one. You'll sell on the open market with a traditional real estate agent. Knock will cover your old mortgage until your home sells — but you'll still eventually have to settle up, and costs can add up fast if your home sits on the market.
Pros
- You'll sell on the open market, potentially receiving offers above fair market value.
- You get a $35,000 advance for home repairs before selling.
- Compared to competitors, Knock accepts older homes (built after 1930).
Cons
- Fees can add up quickly if your home sits on the market.
- You'll have multiple points of contact rather than one dedicated agent.
- Buyers will need to be proactive and independent in their home search.
Knock is currently operating in select cities in these states: AZ, CA, CO, FL, GA, IL, MD, MI, MN, NC, OR, SC, TN, WA.
Knock's weighted average is 4.8/5 based on 810 reviews.
- Better Business Bureau: 4.35/5 (17 reviews)
- Zillow: 4.8/5 (750 reviews)
- Website: knock.com
- Phone: (866) 996-1695
- Email: hello@knock.com
Orchard
Full ReviewService fee
Typically 6%
Closing date window
14–60 days
Average rating
4.6/5 (97 reviews)
Orchard is a home trade-in service that allows you to purchase a new home by getting access to your current home's equity. You can then list your old home on the market with an Orchard listing agent.
If you need to move quickly but still want top dollar for your home, Orchard is worth considering. However, Orchard only accepts newer homes.
Pros
- You can use Orchard's Offer Boost program to make a cash offer on a new home.
- If your home doesn't sell in 120 days, you can accept Orchard's guaranteed cash offer.
Cons
- Homes must be relatively new compared to what competitors accept (built after 1972 vs. 1930–1960).
- Orchard's cash offers will likely be much lower than what you could sell for on the open market.
Orchard is currently operating in these locations:
- CO: Denver
- GA: Atlanta
- TX: Austin, Dallas–Fort Worth, Houston, San Antonio
As of 10/21/2022, Orchard's average customer rating is 4.8/5 based on 1,184 reviews.
- Trustpilot: {ibuyers.orchard.trustpilot_rating}/5 ({ibuyers.orchard.trustpilot_count} reviews)
- Better Business Bureau: {ibuyers.orchard.bbb_rating}/5 (14 reviews)
- Website: orchard.com
- Phone: (844) 515-9880
- Email: hello@orchard.com
» MORE: Home Trade-in Programs: How to Buy a House Before You Sell Yours.
Summary
Offerpad and Opendoor are our picks for best iBuyers.
Opendoor's 5% service fee is lower than the competition and has good customer reviews, but some customers have found its repairs to be lacking.
Offerpad has the most flexible terms and a customer-centric approach to business. It also offers to pay for your local move, potentially saving you thousands of dollars.
RedfinNow is well established in California and is available in a few markets where other services are not. It also purchases older homes (built after 1930) in certain cities. But customers should be wary of its high service fees (up to 13% of the offer price).
FlashHouse's 0% service fee is a huge plus, but it's only available in Akron, Cleveland, and Columbus, OH.
RealSure and Keller Offers are at the bottom of our list. These companies have service fees much higher than the competitors and mostly act as lead generators for their traditional brokerage services.
FAQs about iBuyer companies
What is the best iBuyer company?
Offerpad and Opendoor are our picks as best iBuyers. Offerpad offers great customer service and unique perks like free moving and a 21-day late checkout option. Opendoor covers the most cities, has the lowest fees, and uses the best technology. It generally makes the most competitive offers. Learn more about these and other iBuyers.
Are iBuyer companies legitimate?
Yes, iBuyers are legitimate real estate companies that make cash offers on homes in select locations.
iBuyers price houses using a combination of proprietary algorithms and teams of real estate pricing experts.
Most iBuyers can provide sellers with an offer in less than 24 hours, and close in as little as 2 weeks. Learn more about the top iBuyer companies.
Which iBuyer offers the most?
Opendoor has a low service fee of 5% and generally pays the most for homes. However, Offerpad also has low service fees and offers to pay for local moves for free, which could save you money. We recommend getting several offers before moving forward with one company. Learn more about how iBuyers work.
Are iBuyers worth it?
An iBuyer can be a fast and convenient way to sell your home if you're willing to sacrifice profit for speed. iBuyers can close in as little as 10 days, giving you fast cash for your home. But if you're willing to wait, selling your home on the open market gives you the best chance to make the most money. Find out more about the best iBuyers.
Do iBuyers make good offers?
iBuyers' offers vary with the market conditions and from company to company, but they generally pay close to market value. Although, you may get more than market value if you sell your home on the open market. Learn more about what iBuyers pay.
Opendoor. "Opendoor Investor Presentation." Updated September, 2020.
Inman. "Rocket Homes Hiring In-House Agents, Launching iBuyer Program." Updated August 10, 2021.
Zavvie. "Q4 2021 Seller Preferences report." Updated February 1, 2022.