Opendoor is the nation's largest iBuyer. It operates in major cities across the U.S. and buys more homes than competitors like Offerpad by a wide margin. 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,[1] and hits you with a bill for any repairs or improvements it thinks your home requires (landscaping, new flooring, etc.). Even if your initial offer from Opendoor seems reasonable, you could end up with significantly less once you account for fees and 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 fit for your situation.
Want a faster way to weigh your options? Compare the highest cash offers for your home and sell when you're ready — it's fast, free, and you're never locked in.
Opendoor competitors
1. Clever Offers
Service Fee
Time to Close
Availability
Pros and cons
Why We chose it
Specifics
Pros
- Multiple competing cash offers
- Vetted investors with proven success/funding
- Explore alternate offer types that may fetch a higher price
Cons
- Some deal types have longer timelines
- Cash offers may still be below market value
2. Offerpad
Service Fee
Time to Close
Availability
Pros and cons
Why we chose it
Specifics
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
- 8% service fee is higher than competitors
- Strict purchase criteria
- Repair costs can greatly reduce offers
3. Knock
Service Fee
Time to Close
Availability
Pros and cons
Why we chose it
Specifics
Pros
- Equity advance to buy a new house before you sell
- Includes funding for home improvements before you list
- 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
4. Homeward
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Why we chose it
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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.
5. Orchard
Service Fee
Time to Close
Availability
Pros and cons
Why we chose it
Specifics
Pros
- Access your home equity for a new home purchase before selling
- List on the open market with a backup cash offer
- Interest-free funding for home improvements
- Explore a variety of selling options in one place
Cons
- Service fees start at 4.9% of the final sale price
- Backup offers are likely well below market value
- Must use Orchard-assigned agent to sell your house
- Additional fees apply if you choose to extend your listing beyond 120 days
6. HomeLight Simple Sale
Service Fee
Time to Close
Availability
Pros and cons
Why we chose it
Specifics
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
7. Flyhomes
Service Fee
Time to Close
Availability
Why we chose it
Pros and cons
Specifics
Flyhomes enables you to make an attractive cash offer on a new home, while their buyer guarantees take some of the stress out of buying before you sell.
Flyhomes offers a bridge loan (a short-term loan) that allows you to make a cash offer on a new house before selling your old one. Fees are lower than those charged by other buy-before-you-sell programs, although interest rates vary and may be high.
Flyhomes has a couple attractive buyer guarantees, including a 120-day backup cash offer on your old home. In some cases, if you change your mind about the new property you want to buy after your offer has already been accepted, Flyhomes can even buy the house instead (subject to conditions).
What to know about companies like Opendoor
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.
- An iBuyer's 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 they think 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.
More Opendoor alternatives
Opendoor vs. buy-before-you-sell services
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.
But like iBuyers, buy-before-you-sell programs charge service fees — either as a percentage of your home sale price or as short-term interest on your equity advance (often at a much higher APR than a conventional loan). These fees are 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.
Opendoor vs. '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.
Opendoor vs. a realtor
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: What's the best Opendoor alternative?
The best alternative to Opendoor depends on your priorities: speed and convenience vs. higher net proceeds.
Companies like Offerpad and Homeward offer similar iBuying services and work in different markets, but they have mixed reviews and charge higher fees than Opendoor.
Buy-before-you-sell platforms like Knock and Orchard give you the freedom to move on your timeline while still selling for full market value. Fees for these programs tend to be slightly less than Opendoor's, but you'll also be on the hook for realtor commissions, so working with a lower commission brokerage to offset some of the costs is recommended.
Something to keep in mind is that working with an iBuyer doesn't have to be an either/or scenario. You can get offers from the iBuyers in your area and list your house for a set period (e.g., 30–60 days), letting your realtor know your terms — such as a flexible closing date or no repairs. If you don't get the deal you want, you'll still have an iBuyer's offer to fall back on.
Comparing a few Opendoor alternatives or using a free platform like Clever Offers to do the 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.[2]
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.[3] 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.
