Opendoor Reviews: What REAL Customers Think

Andrew Whytock


Andrew Whytock

December 15th, 2021
Updated December 15th, 2021


Opendoor fees | Opendoor reviews | How it works | Locations | Opendoor vs. realtor | Opendoor competitors | FAQs | Contact

Opendoor logo

Editor's take: Opendoor is our best overall iBuyer pick for several reasons:

  • Flexibility: Opendoor’s late checkout program allows you to stay in your home up to 21 days after closing.
  • Wide availability: Operates in 45 cities.
  • Competitive offers: Opendoor generally makes higher offers than other iBuyers.
See how Opendoor compares to other iBuyer companies.

Opendoor is an iBuyer — a company that buys houses for cash and then resells them on the open market.

Opendoor buys more houses than any other iBuyer and is active in 45 cities across the country. Customer reviews show that people who sell to Opendoor are generally satisfied with how quick and easy the process is and how competitive their offers are. In fact, data from iBuyer expert Mike DelPrete suggests that Opendoor usually makes higher offers than other iBuyers.[1]

However, selling on the open market with a real estate agent will likely net you more money than selling to Opendoor. Opendoor charges a 5% service fee, plus deductions for repairs and closing costs. Real estate agents typically charge a 6% commission, but you'll usually receive higher offers and have more control over repair costs.

You can save even more money by selling with Clever Real Estate. Clever's full-service partner agents list for just 1% or a flat fee of $3,000. For the average home, that adds up to total savings of $5,000 or more!

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Opendoor, at a glance
5% of sale price
⭐⭐⭐⭐ (2346 reviews)
14–45 days for buyers, 14–60 days for sellers (depending on the customer’s desired closing date)

What is Opendoor?

Opendoor is the largest iBuyer by volume in the United States and is currently active in 45 markets, with plans to reach 100 markets.[2]

iBuyers buy houses that require minimal repairs and renovations, so they can resell them on the open market for a small profit.

Opendoor is able to offer such a competitive fee because they operate at a much larger scale than their competitors and therefore work on a high volume, low margin business model.

Opendoor charges sellers a 5% service fee, which is slightly less than the typical realtor commission of 6%. However, Opendoor also doesn't make offers that are in line with what home sellers can expect to get on the open market, so it's likely that a realtor will still help you to net more money in the end.[3]

Opendoor provides an end-to-end experience for customers, so they can buy, sell, and trade-in their home online with minimal hassle.

The company also has other services like repairs, financing, and title insurance to streamline the process while generating more revenue.

How much does Opendoor cost?

Opendoor’s service fee for home sellers is 5% of the final sale price, but the total cost ranges from 7–10% when closing costs and repair deductions are included.

Closing costs are approximately 1–3% while deductions that Opendoor makes for repairs can range from 1–2%.

Service fee
Closing costs
Repair costs

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🏠 What kinds of homes does Opendoor buy?

Opendoor generally buys the following types of homes:

  • Single family
  • Townhouse
  • Duplexes (select markets)
  • Condos (select markets)
In addition, Opendoor’s criteria for purchasing a home includes:

  • Valuation between $100,00 and $600,000 (but can be as high as $1.4 million in some markets)
  • Maximum lot size of 1–2 acres, depending upon market
  • Built after 1930
  • Owner-occupied
While these are the general criteria, there may be exceptions or additional requirements in certain markets.

Pros and cons of selling to Opendoor

  • Ease and speed. You'll receive an offer within 24 hours and you can close within weeks. Without the need for an agent and with many services bundled in, working with Opendoor can be a seamless experience.
  • No need to prep your home. Opendoor will take care of repairs and other home prep tasks that you’d normally have to worry about on your own if you were getting ready to show your house to potential buyers.
  • Choose your own closing date. No need for extensive negotiation between agents, you can choose the perfect date for closing, whether you've already bought a new home or not.
❌ Cons
  • Lower sale price. Opendoor will pay fair market value, at most, for your home. On the open market, motivated private buyers are likely to pay more.
  • Limited market availability. Opendoor is currently only available in 45 cities in the United States, so if you don't live in one of these locations, you can't sell your home to them.
  • Only certain homes qualify. Opendoor generally only buys single-family homes, townhomes, duplexes, and condos between $100,000–600,000, although there are exceptions in some markets. If your home doesn't meet these criteria, Opendoor likely won't purchase it.

Pros and cons of buying from Opendoor

  • Self-guided tours. You can tour any Opendoor listing on your own time by using the Opendoor app to unlock the house. This means that you don’t have to wait to schedule a showing with an agent and you see the home at a time that’s the most convenient for you.
  • Flexible closing. Opendoor isn’t living in or moving out of the house like a private seller would be, so the closing date is up to the buyer!
  • The buyer’s agent still gets paid. If you’re working with a real estate agent, Opendoor will still cover the cost of their commission.
❌ Cons
  • Possibly more difficult to negotiate with. When you work with an agent or a private seller, they’re personally invested in the success of the sale. When you buy from Opendoor, you’re communicating with a customer service team at a large company, often by email.
  • Repairs may not be adequate. Because homes that are purchased from Opendoor aren’t owner-occupied before they’re sold, the seller (Opendoor) might not be as tuned into all of the repairs that are actually needed as someone who is living in the home might be.

How Opendoor works

Whether you’re buying an Opendoor home or selling your home to Opendoor, most customers start their experience online.

  • Sellers can get an offer from Opendoor within days of submitting the online form and close in 14–60 days, depending on their desired timeline.
  • Buyers can submit an offer online or through their agent and close in 14–45 days, depending on their desired timeline.

Since Opendoor isn’t living in the property that their customers are buying or selling, they have much more flexibility when it comes to the closing date.

How Opendoor works for sellers

Sellers start the process by completing an online estimate form to request an offer from Opendoor.

The form asks for things like:

  • Your location
  • A picture of your house
  • A description of your house
  • Details about any upgrades/renovations that you are aware of

Opendoor will use this information to provide you with their initial estimate before sending an inspector to the property.

The process goes like this:

  1. Complete the online estimate form to request an offer.
  2. Receive an offer from Opendoor.
  3. Schedule a virtual walkthrough of your home.
  4. After the inspection, get a final offer from Opendoor that includes repair deductions.
  5. Accept the offer, sign the purchase agreement, and pick a closing date.
  6. Get paid within a few days of closing.

⚡ Quick tip: There’s no penalty for deciding to cancel any time before closing if you aren’t satisfied with Opendoor’s offer, so it’s worth requesting a quote. Other leading iBuyers, like Offerpad, may charge a cancelation fee if you want to back out of the deal too late in the process.

How Opendoor works for buyers

Opendoor lists the houses that they own on their website where potential buyers can browse and request information.

  1. Find a home online or through the Opendoor app.
  2. Take a private tour using the app.
  3. Submit an offer through your agent or by yourself.
  4. Opendoor will respond in 24–48 hours.
  5. If your offer is accepted, your agent can draft a purchase agreement.
  6. Sign and go to escrow.
  7. Make your earnest money deposit.
  8. Schedule inspection and negotiate repairs/closing costs.
  9. Close in 14–45 days.

Opendoor locations

Opendoor is currently active in 45 major markets across the country, including:

  • Phoenix
  • Atlanta
  • Houston
  • Los Angeles

As Opendoor expands and iBuying becomes a more popular alternative to a traditional real estate sale with an agent, Opendoor plans to become active in 100 markets from coast to coast.

Opendoor reviews from real customers

The majority of Opendoor reviews from customers are positive, with an average rating of 4.3 across 2346 reviews.

Total reviews
Weighted avg.

Positive Opendoor reviews focused on:

  • A fast, seamless transaction.
  • A done-for-you selling experience that matched the customer's desired timeline.

Negative Opendoor reviews focused on:

  • Inflated repair costs.
  • An inability to negotiate Opendoor's offer price.

Although we did our best to source accurate, honest reviews, it’s important to remember that this is a limited sample of Opendoor customers from markets across the U.S.

Because there are so many variables when it comes to buying and selling a house, your experience with Opendoor may differ.

To decide whether selling to Opendoor is worth it, your best bet is to compare your offer to what your house could sell for on the open market.

We recommend asking a local realtor for a comparative market analysis (CMA) that shows you what your home is really worth.

Get a free comparative market analysis from an agent!

If you’re interested in selling, a real estate agent can provide you with a comparative market analysis (CMA) to help you determine what your home is worth. A free, no-obligation CMA is a great way to compare your Opendoor offer with what your house might be worth on the open market.

Connect with an agent and get a free CMA today!

What customers liked about Opendoor

Trey noted that the offer he received was competitive, and he was very pleased with his experience selling to Opendoor.

Trey. A relative told me about Opendoor. I didn’t think too much about it but decided to see what it was about. I reached out to Opendoor during the night and the next day the process started. We were offered a competitive price for the house and after some family discussions, we accepted. Closing timeframe was up to us. No hassle, no showings. I will use Opendoor again in the future if I ever have to move again. Source:

Ellen appreciated not having to show her house to multiple buyers and said that working with Opendoor was easy.

Ellen. We had a very seamless experience selling our house to Opendoor. Who would have ever thought you could sell your house without having people coming thru or doing any showings! Not to mention I was able to move at my own pace and definitely received a fair price! I would highly recommend Opendoor! Source:

JL said he wasn’t convinced that Opendoor had his best interests in mind, so he paid close attention to the details when he sold his home, but he was satisfied overall.

JL. Although it was a fairly easy process to sell my home and to buy one from OD there were some confusing parts. I will say that they will negotiate but you have to be on your P’s and Q’s throughout the process. I had to keep track of everything myself because I didn’t always feel like they had my best interest at heart. Have to review the closing numbers carefully to make sure you’re getting what was promised… Overall I do recommend OD but they just need to button up some things with their process. Source:

What customers didn’t like about Opendoor

An anonymous reviewer from Texas said that Opendoor did not negotiate fairly.

Anonymous. I am not impressed with OpenDoor in TX at all as a buyer. They are not transparent. It’s difficult to negotiate with them re: fixes or price. They do not bring down the price much even if the home is old and needs renovation badly and are not reasonable regarding fixing homes. They own the home we are buying and they do not care about the quality of the home very much. They do not even agree to pay for the first year home warranties that most sellers would pay for. Their agents that we worked with kept changing so there’s no continuity and you feel like you are working with a robot. Not impressed! They also won’t let us show the home or list it on MLS till closing. Not sure if this is a standard process. Source:

R Pearis says that the experience didn’t meet his expectations, but he really likes the idea behind Opendoor’s service.

R Pearis. Love the concept, the execution with myself purchasing a home from them though leaves a lot to be desired when it comes to inspection repairs, closing costs, etc. I understand they are in it for the profit but my experience is ridiculous. I am missing the personal touch of dealing with a person who understands that list price is negotiable and is based upon there being nothing at fault with the house. Source:

Mac was frustrated with Opendoor because they wouldn't make him an offer on his home.

Mac Opendoor would not even give us an offer citing lack of comparable properties in our area. There are houses selling left and right around us so I don’t think they looked too hard in the entire hour it took them to answer us. Very disappointing. Source:

Selling to Opendoor vs. listing with a realtor

Selling to Opendoor is more predictable and sometimes faster than selling with a realtor. That’s because Opendoor can make an offer quickly and close when you want while realtors can’t guarantee that the right buyer will come along quickly.

However, a realtor will be able to net you more money by getting your house in front of multiple buyers ensuring that you get the best possible price.

⚡ Quick tip: We recommend listing your home on the open market with the help of an agent before you try selling to Opendoor. This way, you can test the open market and get the highest possible offer for your home.

If you've done this and the home hasn't sold in your desired timeframe, your agent can request an offer from Opendoor on your behalf. You might still have to pay your agent's listing commission if you've signed a listing agreement, but Opendoor will only charge a reduced service fee in this case.

Opendoor charges a 5% service fee that’s slightly lower than the 6% commission that realtors are typically paid. Closing costs and repair fees are still a factor in either case.

Agents have an incentive to get the most possible money for your home because the more you make, the more they make in the form of commission. Opendoor, by contrast, has an incentive to pay less than a private buyer for your home.

In cases where the difference between selling to Opendoor and selling with an agent is negligible, some sellers might choose Opendoor because of the speed and certainty they’re able to offer.

5% service fee
6% realtor commission
Pays fair market value at most
Sells for whatever the highest bidder is willing to pay
Flexible closing
Closing negotiated with buyer
No showings or prep work required
Must prep and show home
Fast, predictable selling time
Unknown selling time

» LEARN: Does Opendoor negotiate?

Opendoor competitors

Opendoor isn’t the only iBuyer on the market, even though they’re currently the largest. The alternatives include leading competitors like Offerpad and RedfinNow.

Opendoor stands out because:

  • Their service fees are low.
  • There’s no penalty for walking away from a deal.

Here’s a quick comparison of how Opendoor stacks up against the alternatives:

Average Rating
Service fee
Trade-in incentive

Markets served
Repair costs
Deducted from offer
Deducted from offer
Deducted from offer
Partner agents
In-house agents + partner agents
In-house agents
In-house agents
Flexible closing date

Cancellation penalty
1% if outside the 4-day post inspection report window
None if the repair addendum is not signed.
Listing options

Late checkout option


Other Opendoor services

Beyond buying and selling, Opendoor offers a variety of invcentives and services, such as home buyer rebates, that help customers to save money while benefiting from a streamlined transaction.

These incentives allow sellers and/or buyers who are work with Opendoor to do things like:

  • Trade in their home
  • Trade up for a newly built home
  • Get a cash rebate at closing time

Opendoor Complete

Opendoor's home trade-in service is called Opendoor Complete.

With Opendoor Complete, you can purchase your next home using Opendoor's cash, and then list your old home once you've moved.

Using Opendoor's cash allows you to make a non-contingent cash offer on your next home, which could be a huge advantage in a competitive market because it'll make your offer a lot more attractive.

The program also helps you avoid paying two mortgages at once, but you'll still have to repay the mortgage on your old home once it sells.

The fees for the program is "as low as 5%," which leads us to believe that it could be higher in some markets.

Opendoor builder trade up

Opendoor provides complimentary services to help customers transition into their newly built home, such as moving, same-day closing, and even a late checkout.

To accomplish this, Opendoor has a partnership with national home builder Lennar homes. As a result, customers who are building a new home with Lennar can trade their old home into Opendoor.

Direct buyer incentive

If you purchase a home directly from Opendoor without the help of a real estate agent, Opendoor offers a 1% credit back at closing (in select markets).

One of Opendoor’s greatest costs when they sell a home is having to pay the buyer’s agent commission, which is around 3%. This incentive rewards sellers for helping Opendoor reduce their costs.

Buyer refund

If you buy an Opendoor home with one of their partner agents, you are eligible for 1% cash back at the time of closing.

Opendoor has a network of partner agents that they can refer buyers to when necessary. These agents don’t work for Opendoor, but they do pay Opendoor a referral fee for the customers that Opendoor sends them.

Other Opendoor entities

As Opendoor has grown, the company has moved into other parts of the home buying and selling process in order to offer more services to customers while getting a bigger piece of the overall transaction.

Opendoor now has entities that offer mortgage solutions, realtor services, and title insurance.

Opendoor Home Loans

Opendoor Home Loans is Opendoor’s mortgage lending solution. As an Opendoor customer, you have the option (but not the obligation) to finance the purchase of your new home using Opendoor Home Loans.

The lender offers mortgages with competitive interest rates and does not charge any lender fees. Opendoor home loans also offer a $1,000 credit at closing, subject to eligibility.

Opendoor Brokerage

Opendoor’s brokerage can provide you with an Opendoor real estate agent who will represent you if you want to list your house for sale through Opendoor. This is similar to working with a real estate agent at a major brokerage as you would in a traditional sale.

However, Opendoor real estate agents cannot represent buyers who want to buy an Opendoor home as this would constitute a conflict of interest.

Opendoor Title

In 2019, Opendoor acquired OS National, a national title insurance company.[4]

As a result, Opendoor can now offer title insurance and escrow services to customers internally through Opendoor Title.

How does Opendoor make money?

Like other iBuyers, Opendoor’s business model is based on a thin profit margin from each home sale, plus the service fees they charge.

Opendoor’s service charge is capped at 5%. The company bases this charge on how long they expect it will take to sell the home. Part of the fees go to cover costs of holding the home, like taxes, utilities, and maintenance.

Opendoor lays out their calculations for your home value and service charge for each offer in a report. The report details the price of comparable homes that have sold recently in your neighborhood. It also accounts for unique aspects of your home that could affect value, such as a finished basement, proximity to quality schools, and walkability to shopping or public transit.

The home assessment also includes repairs needed before Opendoor sells the house, and how the costs of these repairs will affect your offer.


Does Opendoor pay fair market value?

Not quite. According to industry experts and prevailing data, Opendoor pays close to (but a little less than) what sellers could get on the open market.

Like other iBuyers, Opendoor has a narrow margin on each transaction, but the company is buying and selling at an incredibly high volume. Their business model depends upon sellers willing to pay for the convenience of a quick sale. Sellers who sell on the open market have a better chance of getting a higher price.

Does Opendoor negotiate with buyers?

If you're buying a home from Opendoor, you or your buyer's agent can try to negotiate the price point, but according to customer reviews, the company likes to sell close to listing price and doesn't budge much on concessions. If you're considering buying from Opendoor, the experience will likely differ from negotiating with an individual seller.

To put yourself in the strongest possible negotiating position, you should find a real estate agent who can represent you when you buy a home from Opendoor.

Does Opendoor pay closing costs?

Opendoor does not cover closing costs — whether you're buying, selling, or trading in. This stands in contrast with a normal real estate transaction where who pays what closing costs is typically up for negotiation.

That said, one of the benefits of selling to Opendoor is there are no hidden fees. Everything, including how much you'll have to pay in closing costs, will be presented to you before you accept the final offer.

»LEARN: How Much Are Closing Costs for Sellers

What is Opendoor's business model?

Opendoor's business model is buying and selling homes at scale through its digital platform. Relying on a combination of algorithmic valuations and advice from local experts, it can offer close to market value for homes and then sell them for an appreciated value soon after.

In exchange for speed and convenience, Opendoor charges a service fee of 5%.

Between appreciation, service fees, and other ancillary revenue — such as partnerships with contractors, lenders, and other businesses — Opendoor is able to turn a small profit on each sale. Buying and reselling at a high volume is ultimately what allows it to increase its bottom line.

Contact Opendoor

Request an offer


Mike DelPrete. "Do iBuyers Like Opendoor and Zillow Make Fair Market Offers?." Updated November 12, 2019.


Opendoor. "Opendoor Investor Presentation." Page(s) 21–23. Accessed February 8, 2021. Updated September, 2020.


Mike DelPrete. "Do iBuyers Like Opendoor and Zillow Make Fair Market Offers?." Updated November 12, 2019.


Opendoor. "Welcoming OS National to Opendoor." Accessed February 8, 2021. Updated September 5, 2019.

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