Opendoor uses a proprietary algorithm and public records to value homes and make quick cash offers with the backing of large amounts of venture capital. Once they’ve made minor repairs, Opendoor resells these homes on the open market.
Opendoor is the country’s largest iBuyer. Although new competitors have entered the market, it still completes nearly twice as many purchases as all other companies in the space combined.
However, just because Opendoor is the leading iBuyer, that doesn’t mean it will always be your best choice.
Want to sell your home without an agent? A basic MLS flat-fee listing service will run you $299-$399, on average. Compare that to the standard 2.5-3% commission listing agents charge to sell your home and it means you could save thousands on your next sale! These savings can come at a cost, though.