Opendoor Competitors: The Best Companies for Competing Offers

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By Katy Byrom Updated March 15, 2024

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Opendoor is an industry-leading iBuyer. It buys more homes than any other iBuyer by a wide margin — especially now that top competitors like Zillow Offers and RedfinNow have shut down. It also has a decent customer rating, averaging a 4.3/5 stars across 3,500+ customer reviews.

However, the company typically pays less than the market value and charges a 5% service fee (comparable to a standard real estate commission), plus repair and closing costs that can considerably lower your final offer amount.

Fortunately, you have legitimate alternatives if you’re considering selling to Opendoor — including other iBuyers, buy-before-you-sell services, and traditional cash buyers.

Top Opendoor competitors

Company
Clever Rating
Type
Best for
Offer Rating
Best overall
5.0
3,162 reviews
National cash offer network
Multiple offers, vetted investors
Most competitive
Compare Offers
On listwithclever.com
Flexible options with perks
4.0
2,767 reviews
iBuyer
Flexible options with perks
Most competitive
Learn More
On listwithclever.com
Tap your equity to move, then sell
4.8
833 reviews
Home trade-in
Tap your equity to move, then sell
More competitive
Learn More
On listwithclever.com
Equity advance to up or downsize
4.4
632 reviews
Home trade-in
Equity advance to up or downsize
More competitive
Learn More
On listwithclever.com
Fast sales, professional service
4.6
307 reviews
Franchise cash buyer
Fast sales, professional service
Average
Learn More
On listwithclever.com
Compare cash offers vs. listing
4.6
1,213 reviews
National cash offer network
Compare cash offers vs. listing
More competitive
Learn More
On listwithclever.com

Top Opendoor competitors, reviewed

Best overall

Clever Offers

Compare Offers
On listwithclever.com
5.0
3,162 reviews

Customer Rating

5/5

Service Fee

None

Time to Close

Varies

Why We chose it

Pros and cons

Specifics

Clever Offers helps you find and compare offers from leading cash buyers in your area — all with a proven track record of ethical dealings with home sellers. 

Because Clever's network includes local/national investors, iBuyers, and agents with experience listing homes as is, you get a range of offers to choose from — including alternative deal types that deliver a higher payout over time. 

The 5-star rated company gets top marks for helping you make an informed decision without pressuring you to move forward. See our full Clever Offers review.

Pros

  • Multiple competing cash offers
  • Vetted investors with proven success/funding
  • Explore alternate offer types that may fetch a higher price

Cons

  • Legal review of contracts still advised
  • Some deal types have longer timelines
  • Cash offers may still be below market value

Offer Process: After a brief discussion about your property, Clever walks you through your options and reaches out to buyers who can offer a solution. Buyers contact you directly with offers, which you can accept or reject without obligation. Clever provides full support through closing to resolve any concerns or questions. Learn how Clever Offers works.

Closing Timeline: Most cash buyers can close in 1–3 weeks, but will work with you if you need longer. Some deal types may have longer closing timelines.

Fees and Costs: Clever's service is free for sellers - investors pay Clever a small percentage of the final sale price if a deal closes. If you opt to list your house instead, you can save on realtor commissions through Clever's top-rated agent network.

Purchase Criteria: Almost any property is eligible, since Clever works with multiple types of cash buyers.

Locations: Clever Offers is available nationwide, but offer selection may be limited in more rural areas.

Flexible options with perks

Offerpad

Learn More
On listwithclever.com
4.0
2,767 reviews

Customer Rating

4/5

Service Fee

5%

Time to Close

8–90 days

Why we chose it

Pros and cons

Specifics

As an iBuyer, Offerpad stands out for its perks, including free local moves and a 3-day grace period to wrap up your move after closing.

You can choose between listing with an agent and getting a cash advance for home prep/repairs or taking a competitive cash offer with flexible closing dates, ranging from 8–90 days.

If you accept a cash offer, be prepared for relatively high repair costs — which customers report can substantially reduce your final offer. See our full Offerpad review.

Pros

  • Free local moves/3-day grace period after closing
  • Flexible options (cash offer, listing w/ free home prep)
  • Very flexible closing timeline (8–90 days)

Cons

  • 5% service fee + 1% cancellation fee
  • Strict purchase criteria
  • Repair costs can greatly reduce offers

Offer Process: To get an Offerpad cash offer, you submit information about your home online, including details like square footage, age, layout, and desired closing date. Within 24 hours, you'll receive an initial cash offer, contingent on a home inspection. You have 4 days to accept. See how Offerpad works.

Closing Timeline: If you accept Offerpad's initial offer, they schedule an inspection within 15 days. After the inspection, you get a revised offer factoring in repair costs. You can pick a closing date within an 8–90 day window.

Fees and Costs: Offerpad charges a 5% service fee on the offer price. You'll also pay standard 1-3% closing costs. If canceling after 4 days post-inspection, there is a 1% cancellation fee.

Purchase Criteria: Offerpad buys relatively well-maintained single-family homes, townhomes, and condos built after 1950, valued under $1 million, and on lots up to 1 acre. They don't buy homes with significant issues.

Locations: Offerpad operates in 24 metro areas across AZ, CO, FL, GA, IL, IN, KS, MO, NV, NC, OH, SC, TN, and TX.

Did you use Offerpad? Leave a review for the chance to win a $250 Amazon gift card.
Tap your equity to move, then sell

Knock

Learn More
On listwithclever.com
4.8
833 reviews

Customer Rating

4.8/5

Service Fee

2.25% + $1,850 loan fee

Time to Close

Varies

Why we chose it

Pros and cons

Specifics

Knock's Bridge Loan lets you borrow against the equity in your current house to buy a new home before you sell.

The loan covers your down payment, moving expenses, home prep costs (like minor repairs and staging), and ongoing mortgage payments while your house is being listed. You can also borrow up to $35,000 for home improvements before listing.

If your current home doesn’t sell within six months, you have a guaranteed cash offer to fall back on, worth about ~80% of your home's market value. See our full Knock review

Pros

  • Equity advance to buy a new house before your sell
  • Up to $35,000 advance for home improvements before you sell
  • Use your own agent and mortgage lender

Cons

  • Need significant home equity to qualify
  • Program fee is 2.25% of your home sale price
  • Ongoing mortgage costs add up if your home doesn't sell quickly

Process: Apply online to get pre-approved for Knocks Bridge Loan, based on your credit and home equity. You'll buy your new home, move in, and prepare your old home for listing with funds from Knock. Choose your own agent and mortgage lender. If your home doesn’t sell in six months, you can accept Knock’s backup offer instead. Learn Knock how works.

Fees and other costs: Knock's fees include a 2.25% service fee, plus about $1,850 in loan costs. This is on top of traditional realtor commissions and closing costs, such as title and transfer fees.

Timeline: The initial loan application takes around four days, and you'll have 6 months to purchase your new house and sell your old one.

Purchase criteria: Knock works for single-family homes, townhomes, and some condos. Homes must be in good condition, without unpermitted additions, and have a maximum list price of $1.2 million ($2 million in high-priced markets). Manufactured/mobile homes, multi-family or age-restricted properties are ineligible.

Locations: Knock is available in AZ, CA, CO, DC, FL, GA, IL, MD, MI, MN, NC, NJ, OH, OR, PA, SC, TN, WA, and WI.

Did you use Knock? Leave a review for the chance to win a $250 Amazon gift card.
Equity advance to up or downsize

Orchard

Learn More
On listwithclever.com
4.4
632 reviews

Customer Rating

4.4/5

Service Fee

1.9% + 6% brokerage fee

Time to Close

14–120 days

Why we chose it

Pros and cons

Specifics

Orchard is a solid option if you want to try selling on the open market, but you like the certainty of having a backup cash offer. 

Its trade-in service lets you borrow the equity in your current home to make a non-contigent offer on a new one, meaning you don't have to wait for your house to sell to free up funds for a down payment and closing costs.

The downside? Orchard's fees start at 8% of the sale price. And if your house doesn’t sell on the open market, Orchard’s backup offer will be less than your house is worth. See our full Orchard review

Pros

  • Access your home equity for a new home purchase before selling
  • List on the open market with a backup cash offer
  • nterest-free funding for home improvements

Cons

  • Total service fees around 8.4% of final sale price
  • Orchard's backup offer is significantly below market value
  • Must use Orchard-assigned agent to sell your house

Offer Process: Get an initial estimate to qualify for a home loan with Orchard, then use it to make a non-contingent offer on a new home. After moving, Orchard lists your old home. If it doesn't sell within 120 days, you can accept Orchard's cash offer. Learn how Orchard works

Timeline: You'll have flexibility in your closing timeline, but Orchard only advances 4 months of mortgage payments. You have 120 days to sell on the open market before accepting Orchard's backup offer.

Fees & Costs: Total fees are high at 9-16%, including closing costs, repairs, and service fees. Loan fees and rent could increase costs further.

Eligibility: Most single-family homes built after 1920, worth $200k-$1M ($1.5M in Austin/Denver). Condos worth $200k-$750k are also eligible.

Locations: Orchard buys homes in the following metros: Atlanta, Austin, Dallas–Fort Worth, Denver, Houston, San Antonio.

Did you use Orchard? Leave a review for the chance to win a $250 Amazon gift card.
Fast sales, professional service

We Buy Houses

Learn More
On listwithclever.com
4.6
307 reviews

Customer Rating

4.6

Service Fee

None

Time to Close

7–14 days+

Pros and cons

Why we chose it

Specifics

Pros

  • Fast offers (24–48 hours) and closings (7-14 days)
  • No commissions, fees, or closing costs
  • Vetted, reputable investors

Cons

  • Pay below market value
  • Offer is typically take it or leave it
  • Customer experience may vary location

We Buy Houses is a solid choice if you need to sell fast or have a home that’s difficult to sell. You don’t need to worry about repairs and can close extremely quickly, sometimes in just a week.

The company has been around since 1997, carefully vets its investors' reputations, and is available in most of the U.S. 

Franchise owners have a high degree of independence when it comes to the types of offers they can make. While the customer experience may vary between locations, most offices maintain above-average ratings. See our full We Buy Houses review.

Offer process: Submit information about your property and a company rep will come to your house. You’ll receive a no-obligation cash offer within 24-48 hours following the inspection, which you're free to accept or reject. Learn how We Buy Houses works.

Closing timeline: You can close in as little as seven days and you can choose your own closing date. Money will be deposited in your account in as little as ten days from signing the purchase agreement.

Fees & other costs: Typically there are no fees, closing costs, or realtor commissions. However, if you already have a realtor, you’ll likely need to pay their commission (typically 2.5–3%).

Purchase criteria: Franchise licensees can make offers on nearly any property, regardless of the condition, but most will not purchase mobile homes.

Locations: We Buy Houses has 200 offices across 30 U.S. states and Washington, DC.

Did you use We Buy Houses? Leave a review for the chance to win a $250 Amazon gift card.
Compare cash offers vs. listing

HomeLight Simple Sale

Learn More
On listwithclever.com
4.6
1,213 reviews

Customer Rating

4.6/5

Service Fee

None

Time to Close

10–30 days+

Why we chose it

Pros and cons

Specifics

If you're unsure where to start, HomeLight Simple Sale helps you explore two options: Selling directly to a cash buyer or listing with an agent.

The company can get you multiple cash offers to choose from and help you close in as little as 10–30 days. However, reviews indicate that many sellers end up listing with a partner agent after finding that no investors are available in their area.

HomeLight agents have great reviews, but if you need to sell quickly — or want to avoid fielding calls from agents trying to earn your business — other alternatives may be a better fit. See our full HomeLight Simple Sale review.

Pros

  • Convenient option comparison (agent listing or cash offer)
  • Generally positive reviews (fewer for cash offer program)
  • Offers within a week, closing possible in 10 days

Cons

  • Online estimate may exceed actual investor offers
  • Complaints of excessive agent calls after requesting cash offers
  • Most reviews focus on agent matching, not cash offer program

Process: Submit your property information online and talk to a Home Consultant. HomeLight fields offers from multiple cash buyers, allowing you to compare. If you accept, you choose your own closing date. Learn how HomeLight Simple Sale works.

Closing timeline: You’ll receive your offer within a week and you can close in as little as 10 days. You’re free to choose your own closing date.

Fees & other costs: HomeLight Simple Sale is free to use and there are no commissions or closing costs associated with a cash offer. If you sell with a realtor, expect to pay a traditional listing fee of 2.5–3%.

Purchase criteria: Any property is eligible. If no investors are available to make offers, you have the option of listing as is with a HomeLight partner agent.

Locations: HomeLight Simple Sale is available nationwide. However, offers may be limited in some areas.

Did you use HomeLight? Leave a review for the chance to win a $250 Amazon gift card.

How does Opendoor compare to competitors?

Fair offers, hassle-free sales

Opendoor

Learn More
On listwithclever.com
4.3
3,801 reviews

Customer Rating

4.2/5

Service Fee

5%

Time to Close

14–60 days

Why we chose it

Pros and cons

Specifics

Opendoor is for home sellers who want to skip the hassles of a traditional home sale — without sacrificing too much on price.

You can get an initial offer within 24–48 hours, choose your closing date, and skip repairs and showings. The company also pays much closer to market value than traditional house flippers.

Opendoor does charge a 5% service fee, and some customers complain that final offers are lower than initial estimates. See our full Opendoor review.

Pros

  • Pays closer to market value than flippers
  • Convenient selling process and quick inspections
  • Flexible closing windows

Cons

  • Repair costs can significantly reduce offers
  • 5% service fee, on par with realtor commissions
  • Strict purchase criteria

Offer process: Submit your property info online and get an initial offer within 48 hours. Following a brief virtual/exterior inspection, you’ll get a final offer, which may be lower. You can accept your cash offer, choose to list it with an Opendoor agent, or walk away. Learn how Opendoor works.

Closing timeline: You can choose a closing date 14–60 days after receiving your final offer. On your move-out day, you’ll need to provide photos of the property.

Fees & other costs: Opendoor charges a 5% service and closing costs of ~1%. Repair estimates will be deducted from your offer and can vary a lot, from less than 1% to over 5%.

Locations: Opendoor is currently available in 53 major markets in AL, AZ, CA, CO, FL, GA, ID, IN, KS, MA, MI, MN, MO, NV, NJ, NM, NY, NC, OH, OK, OR, SC, TN, TX, UT, VA, and Washington, DC.

Purchase criteria: Only single-family homes, townhomes, certain condos built after 1930, valued between $100,000 and $600,000 (up to $1.4 in some markets), and on a maximum lot of 1 acre (2 in some markets). Must be owner-occupied without any serious issues.

Did you use Opendoor? Leave a review for the chance to win a $250 Amazon gift card.

Opendoor is an iBuyer, a company that uses data to make automated cash offers on homes. In exchange for a service fee, Opendoor allows home sellers to avoid many of the hassles of selling a home — including repairs, showings, and negotiations.

If you’re considering selling to an iBuyer, Opendoor is a good option:

  • Opendoor's 5% service fee is on par with what other iBuyers charge.
  • It generally pays a reasonable price for homes.
  • It has mostly positive online reviews.
  • It's available in more areas than competitors like Offerpad.

Opendoor falls a little short of Offerpad when it comes to closing scheduling options. But this is only a factor if you need to close in less than two weeks or extend your stay beyond two months.

⚡️ Quick tips

  • iBuyers aren't an option for most people. They’re only available in a handful of US cities and are very picky about the types of homes they’ll buy.
  • Selling with an agent will likely net you more money. And you can save even more by working with a full-service discount brokerage.
  • If you don’t qualify for an iBuyer sale but want to avoid the uncertainty or hassle of selling on the open market, consider a trade-in service like Knock or Orchard
  • If speed is your number one priority and you don’t qualify for an iBuyer purchase, consider a "we buy houses for cash" company. You’ll take a sizable hit on price but can typically close in one to two weeks.
  • You'll get the best outcome by getting multiple competing offers on your home. You can seek offers on your own, through a listing agent, or through a free service like Clever Offers.

Which home-selling approach is right for you?

Sell to an iBuyer

For sellers with eligible homes, iBuyers like Opendoor and Offerpad can be a simple, no-hassle alternative to a traditional home sale. However, selling on the open market will usually (but not always) earn you more money from your sale.

If your home meets an iBuyer’s purchase criteria, you'll get an offer within 24–48 hours. Once you accept the offer, you can schedule your closing date within a window of a few weeks to a couple of months, depending on your needs.

Before you close, the company will order a home inspection, often reducing their initial offer price by several thousand dollars based on their repair assessment. iBuyers also charge services fees of about 5% — comparable to a traditional real estate agent commission.

iBuyers pay closer to fair market value than 'we buy houses' companies or private investors, but they also remove the competitive element of selling on the open market — which can result in multiple offers that bid your asking price much higher. For some people, the certainty and convenience that iBuyers provide is worth leaving some money on the table.

» MORE: See how the leading iBuyer companies compare

Use a trade-in service

Trade-in services like Orchard and Knock front you the cash to buy your next home before you sell your current one. That way, you can avoid paying two mortgages at once and skip the stress of trying to line up the closing dates.

The downside of using a home trade-in service is that they charge service fees (usually ~2% on top of realtor commissions and closing costs) that could make your buying/selling experience a lot more expensive. However, the cost may be worth it for people who have found their dream home but aren’t able to make an offer until their own home sells.

Get offers from 'we buy houses' companies

If your home doesn’t qualify for an iBuyer or trade-in service because of age, serious structural issues, or financial issues, selling to a 'we buy houses' company or local investor could be the right alternative.

Companies that buy houses for cash give fast cash offers on less-than-perfect homes — including homes with structural problems, liens, or difficult tenants.

Like iBuyers, cash home-buying companies let you avoid repairs and showings. You won’t pay service fees, agent commissions, or closing costs either. They can usually make offers within 24–48 hours and close in as little as 1–3 weeks.

On the downside, cash buyers typically pay only about 70% of the home’s potential value (after factoring in repairs). However, some investors pay more under certain conditions, so you'll want to compare multiple offers before signing anything.

If your home has selling potential, it might also be worth talking to a local real estate agent about selling your house as-is before going to a cash buyer.

Compare fair cash offers to the sale price you'd get with an agent.

Clever Offers is a free service for home sellers. You can compare offers from trusted investors and iBuyers in our network — no hassles, fees, or commitment. You can also consult a local realtor to see what your home could sell for as is, with no obligation to move forward with a listing. Simply tell us about your property, and we'll do everything we can to get you the best possible price for your home.

Get Cash Offers

List with an agent

Even if your home is in poor condition, hiring a realtor to list your home on the MLS — the main database for home listings and residential property information — gives you the best chance to earn the maximum amount for your home.

However, selling your home with an agent usually takes longer than selling to an iBuyer and costs more in realtor fees and closing costs than selling to an investor. You may also need to put in some work to prep your home for photos and showings. And there's no guarantee your home will sell for more.

Still, working with a real estate agent gives you access to their knowledge of the local market and a world of local market data available through the agent-only MLS — including what other homes like yours are selling for, and how quickly. If you're interested in going this route, we recommend working with a brokerage offering competitive commission rates.

💰 SAVE: Sell with a top local agent, save thousands on realtor fees

Opendoor competitor RedfinNow has shut down

Redfin shut down its iBuying program, RedfinNow, in November, 2022. At its height, RedfinNow operated in 31 markets across the US. If a home met RedfinNow’s purchase criteria, the seller could receive an offer within a few days without hiring an agent or showing their home.

However, the company's 5–13% service fees were higher than fees of better-known competitors like Offerpad and Opendoor. The service also had poor reviews from customers, with the Better Business Bureau rating it a C–.

Zillow Offers has also closed operations

On November 2, 2021, Zillow announced that it would permanently shut down its iBuying service, Zillow Offers. From July 2021 through September 2021, Zillow Offers lost more than $420 million, which is approximately how much the company earned overall in the 12 months before July.

On an earnings call with investors, Zillow admitted that its home-buying model was flawed and that it bought too many homes at too high a price. Today, Zillow partners with Opendoor in several markets so home sellers can see Opendoor's estimated cash offer alongside Zillow's Zestimate.

FAQ about Opendoor competitors

Is Opendoor too good to be true?

Opendoor streamlines the traditional home-selling experience, eliminating the need for home showings, negotiations with buyers, and the uncertainty of whether your home will sell. It does this for a 5% fee (on top of closing costs and repair credits), which many people think is worth it. However, you’ll almost always make more money by selling your home with a realtor on the open market. Find out more about how Opendoor works.

Does Opendoor pay a fair price?

Opendoor pays less than what you'd get on the open market with a real estate agent. The company used to make competitive offers on homes, but its offers have declined since 2022, according to analyst Mike DelPrete. Plus, Opendoor often significantly lowers its initial cash offer after it inspects a home and determines repair costs. See if Opendoor's offer is worth it.

Which is better, Opendoor vs. Offerpad?

Opendoor and Offerpad offer similar iBuying services. Both companies give sellers a fast cash offer on their home and the ability to close on a flexible timeline. They also both charge a 5% service fee. However, Opendoor generally charges less for repairs and is available in more markets, while Offerpad provides perks like free local moves and a three-day grace period if you need to stay in your house after closing. See how Opendoor and Offerpad compare.

Authors & Editorial History

Our experts continually research, evaluate, and monitor real estate companies and industry trends. We update our articles when new information becomes available.

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