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.
Opendoor reviews | Opendoor fees | Competitors | What is Opendoor? | How does Opendoor work? | Locations | Is Opendoor legit? | FAQs iBuyers are a great option if you’re looking for a fast, convenient home sale — and we think Opendoor is currently the best iBuyer out there. […]
iBuyers offer cash payment on a lightning-fast timeline and, unlike the mildly unsavory cash buyers who put up “We Buy Houses for Cash!” signs next to highway off-ramps, present a modern, hi-tech image straight out of Silicon Valley.
However, you’ll likely pay a premium for the convenience that iBuyers offer. In addition to the service fee, you should also be aware that the offers they provide will likely be less than what you can get on the open market.
Zillow Offers is an iBuyer that’s operated by the popular real estate search website. iBuyers purchase homes for cash, typically for slightly below market value. However, sellers who work with iBuyers don’t have to worry about trying to find a buyer and can complete their sale on their own schedule.
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.