Opendoor is the nation's largest iBuyer. It operates in major cities across the U.S. and buys more homes than any other iBuyer by a wide margin — especially now that top competitors like Zillow Offers[1] and RedfinNow[2] have shut down. It also has a decent reputation among customers, averaging 4.26 out of 5 stars.
However, Opendoor typically pays less than the market, charges a 5% service fee, and hits you with a bill for any repairs or improvements it thinks your home requires (landscaping, new flooring, paint touchups, etc.). Even if your initial offer from Opendoor seems reasonable, you could end up with significantly less once you account for fees and non-negotiable repair costs.
Fortunately, you have legitimate alternatives if you’re considering selling to Opendoor. Some companies provide a straight cash offer while others offer a hybrid model providing cash upfront to fund your move, plus the opportunity to list your home for additional upside. You might find that one of these alternatives offers a better solution for your situation.
Want a faster way to weigh your options? Compare cash offers from leading iBuyers, investors, and the market — no added fees or obligation to move forward.
Top Opendoor competitors
1. Clever Offers
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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.
2. Offerpad
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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 an 8% service fee, plus variable repair costs — which customers report can substantially reduce your final offer. See our full Offerpad review.
3. Knock
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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
4. Homeward
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Homeward is a solid choice if you want the benefits of a fast cash offer without sacrificing your home equity — or need to unlock the equity in your current house to buy a new one.
While most cash buyers aim to buy low in order to sell high, Homeward gives you up to 89% of your home value upfront and lets you keep the additional upside on your property by listing it on the market after you accept its cash offer.
In exchange for this convenience, Homeward charges service fees of up to 7% and deducts the costs of both its original offer and any expenses associated with maintaining your home while it's being sold.
The company maintains an above-average customer rating. However, its complicated service and fee structure have led to some customer complaints. See our full Homeward review.
Did you use Homeward? Leave a review for the chance to win a $250 Amazon gift card.
5. Orchard
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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-contingent 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.
6. HomeLight Simple Sale
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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.
7. Flyhomes
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- Tap your home equity to secure a new house before you sell your old one
- Guaranteed backup offer if your home doesn't sell in 180 days
- Boost your buying power by removing the home sale contingency and excluding remaining mortgage debt from your DTI
- Choose your own listing agent
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- You’ll accrue costs for two properties until your existing home sells
- You'll pay origination fees and short-term interest (est. 9.990% APR) on the bridge loan
- Guaranteed Backup Offer costs a separate $2,500
What to know about Opendoor and its competitors
If you’re considering selling to Opendoor or one of its competitors, here are a few key points to consider:
- While iBuyers tend to pay about 8—14% less than market value, their offers are still considerably higher than the typical payout from an investor — who might only offer about 70% of your home's after-repair value.
- iBuyers' purchase criteria is usually stricter than traditional investors' — homes in rural areas or in need of major repairs or updating may not qualify.
- iBuyers like Opendoor and Offerpad charge service fees of 5–8%, compared to the 2.5–3% you'd typically pay a listing agent.
- iBuyers also make deductions for the full cost of any repairs or improvements it thinks your home requires. Fees vary based on the results of the company's home inspection, and can significantly lower your final payout.
- If your home meets an iBuyer's initial purchase criteria, you'll get an offer within 24–48 hours. You'll get a final, adjusted offer after the company conducts its home inspection. If 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.
Other Opendoor alternatives
Buy-before-you-sell 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 buy-before-you-sell option is that they charge service fees — either as a percentage of your home sale price or as short-term interest on your equity advance — on top of realtor commissions and closing costs. So while convenient, it could make your buying/selling experience a lot more expensive.
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.
'We buy houses' companies
Companies that buy houses for cash give fast cash offers on less-than-perfect homes — including homes with structural problems, liens, or difficult tenants. 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.
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.
Top listing agent
Even if you intend to sell your home as is, 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.
Bottom line
It’s best to weigh the pros and cons of working with Opendoor against your priorities list to make sure the iBuyer meets your selling requirements. Shopping around to compare Opendoor competitors or using a free platform like Clever Offers to do a lot of that leg work for you can give you the assurance that you're making the right choice for selling your home.
FAQ about Opendoor competitors
Does Zillow still buy homes?
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.
What happened to RedfinNow?
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 on sites like Trustpilot.
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 some sellers 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 our analysis of Opendoor listings shows that its offers have continually declined since 2022. 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. However, Opendoor has lower service fee of 5% (compared to Offerpad's 8%), generally charges less for repairs, and is available in more markets. 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.
