Published
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Written by
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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
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 offer significantly less than competitors and charge higher fees.
We share the top iBuyer companies to help you choose from the best options.
Expert tip: Compare iBuyer offers to find the best deal
iBuyer offers can vary by tens of thousands of dollars and differ in other key areas, like fees and closing windows. To quickly compare iBuyer options, try Clever Offers. This service gathers offers from Opendoor, Offerpad, and other top cash buyers near you. You only need to enter a few basic details about your home to get started.
The best iBuyer companies in 2023
| Company | Our Rating | Service Fee | Time to Close | |
|---|---|---|---|---|
|
6%
|
8–60 days
|
Learn more | |
|
5%
|
14–60 days
|
Learn more |
Our team combed through thousands of customer reviews, interviewed company representatives, and spent months studying trends in the iBuying space. Our in-depth iBuyer reviews provide a fair and balanced view of the major companies in the industry.
In general, we discovered that iBuyer companies focus on buying relatively new homes that are close to market-ready. These companies aren’t available in every real estate market — so be sure to check which iBuyer companies are near you.
There are two major iBuyer companies in our list that currently account for the majority of sales: Offerpad and Opendoor. A number of iBuyers, such as Zillow Offers and RedfinNow, are no longer in business.
Of the two largest iBuyers, Offerpad is the best overall in our rankings. Offerpad’s relatively low iBuyer service fees, positive customer reviews, and flexible closing date make it one of the best options for home sellers.
Service Fee
Time to Close
Overview
Locations
Customer reviews
Editor’s take
For home sellers who need to sell quickly, working with an iBuyer like Offerpad is a good way to keep more of your home’s equity. Unlike most cash buyers, Offerpad makes competitive cash 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. You can choose a closing date anywhere from eight to 60 days in advance, which lets you move out of your house when it’s most convenient for you.
Its 6% service fee is also about in line with what other iBuyers charge.
Offerpad is available in 25 metro areas across AL, AZ, CA, CO, FL, GA, IN, KS, MO, NV, NC, OH, SC, TN, TX.
Customer reviews of Offerpad are mostly positive, with an average rate of 3.9 across 524 reviews.
Pros
- You can close in just eight days (15 in FL and GA).
- There’s no need to repair or prep the home.
- Sellers can stay for free after closing for up to three days.
Cons
- Some customers report high repair costs that reduced their final offer.
- Free local moves are available only within a 50-mile radius.
Offerpad is our highest-ranked iBuyer, thanks to its reasonable fees and flexible closing and move-out dates. However, we lowered Offerpad’s score due to its restrictions on repairs and free local moves.
While Offerpad is our top-ranked iBuyer, we recommend using Clever Offers to compare cash offers from multiple iBuyers. You’ll quickly see which iBuyer is offering the best deal.
Pros
- You can close in just eight days (15 in FL and GA).
- There’s no need to repair or prep the home.
- Sellers can stay for free after closing for up to three days.
Cons
- Some customers report high repair costs that reduced their final offer.
- Free local moves are available only within a 50-mile radius.
Service Fee
Time to Close
Editor’s take
Overview
Locations
Customer reviews
Opendoor has some good things going for it, including availability in over 50 markets and flexibility with closing.
Its service fee is lower than Offerpad’s, but Opendoor gives you less control over repair costs and charges extra for staying beyond your closing date. As a result, you could spend a lot more with Opendoor than you anticipated.
Plus, Opendoor is stricter than Offerpad about which properties it’ll buy, so there’s a higher chance your home won’t qualify.
Pros
- You get a free, no-obligation offer.
- You can choose when you close.
- Opendoor is available in 50+ markets.
Cons
- You have no control over repair costs.
- There’s strict criteria for purchasing homes (e.g., no structural damage, no homes pre-1930).
- Late checkout will incur a daily fee.
Opendoor is another good option for homeowners who need to sell their home quickly. The company generally pays less than what you’d receive on the open market, but like other iBuyers, it pays more than most cash buyers.
Opendoor doesn’t offer as much flexibility around closing times as Offerpad, with a closing window between 14 to 60 days. But it’s available in more locations, with operations in over 50 cities across the U.S.
Opendoor is currently available in 47 major markets in AL, AZ, CA, CO, FL, GA, ID, IN, MN, MO, NV, NJ, NY, NC, OH, OK, OR, SC, TN, TX, UT, VA, DC.
Customer reviews of Opendoor are mostly positive, with an average rating of 4.3 across 3,322 reviews.
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
- High repair costs can reduce your final offer.
- You have to pay extra for staying beyond your closing date.
How to find iBuyers near me
One of the major limitations of selling to an iBuyer is coverage. Most iBuyers focus only on 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 fees | |
|---|---|---|
| Offerpad | 6% | Alabama, Arizona, Colorado, Florida, Georgia, Indiana, Nevada, North Carolina, South Carolina, Tennessee, Texas |
| Opendoor | 5% | Alabama, Arizona, Colorado, Florida, Georgia, Idaho, Indiana, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Mexico, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Utah |
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 sell to 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?
| ✅ Pros | ❌ Cons |
|---|---|
| iBuyers make near-instant cash offers and have fast, flexible closing dates. | iBuyers have high fees compared to listing with a real estate agent. |
| There's no need to repair, prep, or show your home to prospective buyers. | You'll receive fair market value at most (and less in many cases). |
| You'll have greater certainty the deal won't fall through due to financing or other issues. | There's little or no room to negotiate over the sale price or repair costs. |
Most iBuyer companies share the same basic process. If you decide to sell your home to an iBuyer, you will:
- 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
Though there is some variation among iBuyers’ purchasing criteria, we found that most follow the same general guidelines.
| 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 you might be able to get selling your house on the open market. However, if houses in your area are selling quickly — in a matter of days rather than weeks — offers from iBuyers might be closer to fair market value than they would be in a slow or average market.
To arrive at a price, iBuyers consider a range of factors including:
- Comparable recent sales in your area
- Analysis from in-house 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 with iBuyers — 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.
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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