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Edited by Andrew Whytock
Written by Bailey Peterson
Edited by Andrew Whytock
The best iBuyer companies, graded | Find iBuyer companies near me | How it works | How much do iBuyers pay? | How iBuyers make money | Other ways to sell
iBuyer companies make all-cash offers on homes and can close quickly. They focus on buying relatively new homes that are close to market-ready. These companies aren’t available in every real estate market, so check which iBuyer companies are near you.
Choosing the right iBuyer is a crucial decision. The best iBuyer companies don’t require any prep or repairs for the sale, so you don’t have to invest much time or cash upfront. Other iBuyers pay significantly less than market value and charge higher service fees.
To find the best iBuyers, our team analyzed thousands of customer reviews, interviewed company representatives, and spent months studying trends in the iBuying space. Our in-depth reviews provide a fair view of the top iBuyer companies in the industry.
Only two true iBuyer companies are on our list: Offerpad and Opendoor. Several iBuyers, such as Zillow Offers and RedfinNow, are no longer in business.
However, other companies can also help you sell your home quickly. Clever Offers lets you compare cash offers from multiple investors (including the brands on this list), and companies like Orchard and Knock offer home trade-in services.
The best iBuyer companies in 2023
| Company | Our Rating | Type | Service Fee | Time to Close | |
|---|---|---|---|---|---|
|
Best overall
|
Free cash offer comparison
|
None
|
Varies
|
Learn More | |
|
iBuyer, power buyer, trade-in service
|
5%
|
14–60 days
|
Learn More | |
|
iBuyer
|
6%
|
8–60 days
|
Learn More | |
|
Power buyer, trade-in service
|
6%
|
Varies
|
Learn More | |
|
Power buyer, trade-in service
|
2%
|
Varies
|
Learn More |
Service Fee
Time to Close
Our take
Overview
Locations
Clever Offers gets top marks for helping you make the most informed decision about your home sale — and for increasing your chances of making the most money on your transaction. Instead of buying your home directly from you, Clever gathers offers from multiple cash buying companies on your behalf. You can compare and choose the best one.
You’ll also get to work with a real estate agent. They’ll help you understand the benefits of each cash offer, and they’ll show you what your home could get on the open market if you choose to list instead.
Pros
- You can sell your home for maximum value.
- You can compare cash offers to your home’s market value.
- You get support from a Clever Concierge and a realtor.
Cons
- You may have to pay a service fee depending on the buyer.
- Clever doesn’t buy your house directly from you.
Clever Offers sets you up with a real estate agent, who then gets you offers from multiple iBuyers and cash buyers. Your agent walks you through the details of each offer, which allows you to better understand which one is the best value.
Clever Offers is unique because it allows you to compare these cash offers with what your home would get on the open market. You’ll know all your options so you can make the best decision for your wallet and timeline.
With Clever Offers, you can also list with your agent if you decide not to take any cash offers. And unlike the competition, if you do list with an agent, you’ll pay a reduced listing fee of 1.5% — about half the typical rate.
Clever Offers is available nationwide.
Service Fee
Time to Close
Our take
Overview
Locations
Opendoor is a decent option if you need to sell fast. The initial cash offer is good for up to 60 days, so you have more flexibility on when to close. And the company is available in a lot more markets than other iBuyers.
However, Opendoor might not be a great deal for some people. For example, its 5% service fee sounds great, but if you want to stay in your house after closing, you have to pay a daily fee that can quickly add up.
Pros
- You have 60 days to accept your cash offer.
- There’s no need to repair or prep the home.
- Opendoor is available in over 50 markets.
Cons
- Many customers report that their final offer from Opendoor is significantly lower than the initial offer.
- You’ll have to pay extra for staying beyond your closing date.
Opendoor was founded in San Francisco in 2014. It’s the largest iBuyer in the country, serving over 50 markets. The company can make cash offers in just 24 hours and close in 14–60 days.
How it works: To sell to Opendoor, you fill out a form on its website with information about your property, including the address, photos, a description, and recent renovations. Then Opendoor extends an initial offer, which it may change depending on the home inspection and repair costs.
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.
Service Fee
Time to Close
Our take
Overview
Locations
Offerpad could work for you if you need to sell quickly but want to keep more of your home’s equity. Unlike most cash buyers, Offerpad makes competitive offers that are much closer to your home’s market value.
We think Offerpad is a decent option because it offers more flexibility on closing dates and repairs than most of its competitors — including Opendoor.
However, Offerpad falls short on repair costs — which can be high — and on its restrictions around free local moves. It’s also available in fewer markets than other iBuyers.
Pros
- You can close in just eight days (15 in FL and GA).
- There’s no need to repair or prep the home.
- Home sellers have an extended stay option.
Cons
- Some customers report high repair costs that reduced their final offer.
- Free local moves are available only within a 50-mile radius.
Founded in 2015, Offerpad is an iBuyer based in Phoenix, Arizona. It generally makes all-cash offers for homes in 24 hours.
How it works: To sell your home to Offerpad, you fill out an offer request form on the company’s website, including information like the address, your contact details, and photos of your home.
Offerpad is available in 22 major metros across AZ, CO, FL, GA, IL, IN, KS, MO, NV, NC, OH, SC, TN, and TX.
Service Fee
Time to Close
Our take
Overview
Locations
Orchard is a decent 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 also ensures you don’t pay for two mortgages at once and enables you to make competitive cash offers when buying.
However, you may want to avoid Orchard if you’re worried about fees. Depending on the services you need, your total fee could be more than 16% of your sale proceeds. And if your house doesn’t sell on the open market, Orchard’s cash offer will likely be much less than what your house is actually worth.
Pros
- You can list on the open market while having a cash offer to fall back on.
- You avoid paying for two mortgages at once.
- You can make a more competitive cash offer when buying.
Cons
- Total fees can exceed 9–16% of the final sale price.
- Orchard’s cash offer will likely be much less than market value.
Orchard is primarily a home trade-in service that allows you to buy a new home before you sell your current one. You use the equity in your current home to take out a loan with Orchard, which you then use to make a cash offer on a new home.
Once you buy your new home, you list your old home on the open market. If it doesn’t sell after 120 days, you can take a cash offer from Orchard.
You can also simply list your home with Orchard without buying with the company. Again, you can take a cash offer from Orchard if your house doesn’t sell on the open market within 120 days.
Orchard operates in the following areas:
For sellers: Atlanta, Austin, Dallas–Fort Worth, Denver, Houston, San Antonio
For buyers: AZ, CA, CO, FL, GA, KS, NC, OK, OR, PA, SC, TN, TX, WA
Service Fee
Time to Close
Our take
Overview
Locations
If you want to move quickly and try to get the best sale price for your home, Knock’s trade-in service may be a good option. It also allows you to make cash offers on homes, which can give you an advantage in competitive markets.
However, Knock’s convenience comes with high fees up to 16.25%. And Knock’s guaranteed cash offer will be less than your home’s fair market value.
If you’re a buyer, you should shop around to see if other lenders near you offer better financing.
Pros
- Your cash offer will be more enticing to buyers because it’s less likely to fall through.
- You can move into your new home before listing your old one.
- You can try to get the best price for your home by listing it while still having a backup cash offer.
Cons
- Knock’s total fees are high at 9.5–16.25% of the final sale price.
- Its backup cash offer will be less than your home’s market value.
- You have to use Knock as your lender even though other lenders may offer better terms.
Knock is a home trade-in service. Its Home Swap program lets you tap into the equity of your current home to make an offer on a new one. This setup allows you to move into your new home before you sell your old one.
After you buy your new home, you then list your old home on the open market with Knock. If it doesn’t sell after six months, you can take Knock’s guaranteed cash offer instead.
The company also offers Knock GO for buyers, which is a loan based on your home’s current equity. You can use the loan to make a cash offer on your new home. Many sellers tend to favor cash offers since they’re less likely to fall through.
Knock is available in AZ, CA, CO, DC, FL, GA, IL, MD, MI, MN, NC, NJ, OH, OR, PA, SC, TN, TX, and WA.
How to find iBuyers near me
One of the major limitations of selling to an iBuyer is coverage. Most iBuyers make cash offers only in specific real estate markets or metro areas. To find iBuyers near you, select your state in the table below. Then select the company name to learn more.
| Company | Service fee | |
|---|---|---|
| Clever Offers | Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming | Varies |
| Opendoor | Alabama, Arizona, Colorado, Florida, Georgia, Idaho, Indiana, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Mexico, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Utah | 5% |
| Offerpad | Alabama, Arizona, Colorado, Florida, Georgia, Indiana, Nevada, North Carolina, South Carolina, Tennessee, Texas | 6% |
| Orchard | Colorado, Georgia, Maryland, North Carolina, Oregon, Texas, Virginia | 6% |
| Knock | Arizona, California, Colorado, Florida, Georgia, Illinois, Maryland, Michigan, Minnesota, North Carolina, Oregon, South Carolina, Tennessee, Texas, Washington | 2% |
Other ways to sell your home
If you’re on the fence about iBuying, or just exploring your options, we recommend speaking with a top real estate agent in your area.
With Clever, you can explore all of your options — whether you want to get a cash offer from an iBuyer or list on the open market.
A local Clever real estate agent can present you with offers from iBuyers and other cash buyers near you, and help you determine a fair listing price for your home. If you want to accept an offer from Opendoor or another iBuyer, your real estate agent can negotiate on your behalf to make sure you get a fair deal.
If you decide you’d rather list your home on the open market, you’ll save thousands in realtor fees — the average Clever customer saves $7,500!
How do iBuyer companies work?
iBuyer companies are relatively new to the real estate industry, but most share the same basic process. If you decide to sell your home to an iBuyer, you’ll:
- Submit information about your home online
- Receive an initial cash offer
- Complete a home inspection
- Review an adjusted offer that accounts for repairs
- Close the deal
Most iBuyers also have the same general guidelines for which homes they’ll make an all-cash offer on.
| iBuyer purchase criteria |
|---|
| 🏠 A single family residential home, condo, or townhome |
| 🌻 On a 0.5 to 1.5 acre lot |
| 🆕 Built after 1930 |
| 📌 Within an eligible service area |
| 💰 Valued at $100,000 to $600,000 |
If your home isn’t eligible to sell to an iBuyer, you can always work with a local real estate agent who can help you find a buyer on your timeline. And, even if your property is eligible, it’s always a good idea to get an estimate from a local realtor to find out how much your home could sell for on the open market.
We’ve partnered with Clever, a free service that can introduce you to top real estate agents in your area. Best of all, Clever pre-negotiates low listing fees of just 1.5%. Learn more now!
How much will iBuyers offer for my home?
The best way to find out how much an iBuyer will pay for your home is to request a cash offer. All of the iBuyers provide free, no-obligation offers, so you can even compare your options if you live in a city with multiple iBuyer companies.
In general, iBuyers pay less than fair market value. However, if houses in your area are selling quickly — in a matter of days rather than weeks — offers from iBuyers might be closer to market value than they would be in a slow or average market.
To determine the price of a cash offer, iBuyers consider a range of factors, including:
- Comparable recent sales in your area
- Analysis from in-house real estate experts
- Proprietary algorithms using data sets from your market
- Your home’s overall condition, including unique features or finishes
Unfortunately, there’s usually little room to negotiate when selling to an iBuyer — so you’ll have to decide if you want to take the cash offer or walk away.
How do iBuyers make money?
iBuyers make money in three different ways:
- Fees: Most charge you a percentage of the value of your home when they purchase your property.
- Home appreciation: iBuyers are essentially real estate investors who aim to resell your home for a profit. They do this by concentrating purchasing efforts in real estate markets where properties go up in value quickly.
- Selling leads: Some iBuyers will sell your contact details when you request an offer from them.
Pros and cons of selling to an iBuyer
Pros
- You can sell your home in as little as 8 days.
- There’s no need to repair or prep your home or host showings.
- There’s less risk of the deal falling through due to financing or other issues.
Cons
- Some iBuyers have high fees compared to listing with a real estate agent.
- Final offers tend to be lower than initial offers and less than fair market value.
- There’s little or no room to negotiate over the sale price or repair costs.
FAQ
What is the best iBuyer company?
With its flexible closing times and move-out dates, Offerpad stood out as the best iBuyer company in our rankings, followed by Opendoor. Read Offerpad reviews from actual customers now!
How much does it cost to sell to an iBuyer?
In general, iBuyer fees range from 5–6%. In most cases, you'll also have to pay for closing costs (1–3%) and repairs (1–2%). If you want to sell for top dollar and earn more from your home sale, we recommend working with a low commission real estate company. Learn which companies have the lowest fees!
Methodology
We rated each iBuyer based on costs, closing timeline, and other factors.
For costs, we focused on each iBuyer’s service fee. We also considered charges like repair fees and surprise fees. Our grades reflect how flexible iBuyers are with individual costs.
Closing timeline was also a significant factor when rating top iBuyer companies. We considered how quickly each iBuyer can close, how flexible each is with the closing date, and whether sellers can stay in their home beyond the closing date.
We weighed other factors less heavily but still took them into account. These factors include availability across the U.S. and criteria for accepting houses.
Related reading
If you’re interested in more information about the best iBuyers or selling your home quickly, check out the following resources.
What Companies Offer the Lowest Real Estate Commission Fees? Emerging real estate models promise to make the standard 6% realtor commission a relic of the past. We compared leading low commission companies to help you find the best option!
“We Buy Houses for Cash” Companies: Incredible Deal or Predatory Scam? Cash buyer companies promise to make near-instant cash offers on homes. While this convenience can help some sellers, low offer prices can leave others feeling nickel and dimed. Learn more.
What Customers Have to Say about Opendoor: Opendoor is our choice for the best iBuyer company with its transparent pricing and wide coverage. Find more Opendoor reviews from customers, as well as an in-depth guide to how this service works.
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