About Opendoor

By Derek Lakin
HighYa Staff Updated on: Jan 4, 2018

With more than 11,000 satisfied customers, Opendoor helps you sell your home in a matter of days without ever putting it on the market. By purchasing your home from you, Opendoor aims to eliminate the uncertainty of a traditional home sale and provide you with complete control over your moving timeline. Their process takes three steps:

  1. Enter your home’s details to get an offer.
  2. Schedule a free home assessment.
  3. Close and get paid.

It certainly seems like Opendoor has dramatically simplified the home selling and buying process, as claimed on their website. But does that mean they’re the right option for you? We'll help you come to an informed conclusion, starting with how it works.

How Does the Opendoor Selling Process Work?

1. Requesting an Offer

To request an offer on your home, you’ll start by entering your address on Opendoor’s home page. Note: The company currently buys (and sells) homes in the Phoenix, AZ, Dallas-Fort Worth, TX, Las Vegas, NV, Atlanta, GA, Raleigh-Durham, NC, and Orlando, FL metropolitan areas, although they’re looking to expand into additional markets.

From there, you’ll input different details about your home (e.g., number of beds/baths, square footage, the condition of kitchen/baths/backyard, renovations, etc.), which shouldn’t take more than a few minutes.

Opendoor's team of real estate experts will then review comparable home sales in your area, market data, and the unique information you provided to send you a no-obligation offer.

Pro tip: The company isn’t a house-flipper, and they don't buy distressed homes. In fact, they’re fairly particular about what types of homes they buy. Here’s what we learned about their criteria from their website (note that criteria differ based on location):

  • Single-family homes
  • Townhomes
  • Duplexes (Phoenix, Las Vegas, and Atlanta)
  • Condos (Phoenix and Las Vegas)
  • Homes in gated communities (Phoenix, Las Vegas, and Dallas–Fort Worth)
  • Homes that are site-built (not pre-fabricated or mobile)
  • Homes located in our service areas
  • Homes in which the seller has clear ownership of the property (no double escrow)
  • Homes built after 1960
  • Homes that are not in age-restricted communities
  • Homes where our valuation is between $100K and $500K
  • Homes that sit on a maximum of a half an acre of land (Phoenix, Las Vegas, and Orlando) or an acre of land (Dallas-Fort Worth, Atlanta and Raleigh-Durham)
  • Homes that are not in or near flood zones
  • Homes that are owner-occupied or vacant, not leased, at the time of closing
  • Homes that are non-distressed or Real Estate Owned
  • Homes that don’t have any un-permitted additions or significant foundation issues
  • Homes that don’t have a solar lease (even one that has been pre-paid)
  • Homes that do not have polybutylene plumbing
  • Homes that do not have masonite woodruff roofs

2. Accepting the Offer

If, after reviewing your offer and associated fees, you decide to accept, Opendoor will schedule a free home assessment. The company will send out a team of its own employees and independent contractors to “verify the condition of your home and identify any repairs that need to be addressed before closing,” including structural, exterior, roofing, plumbing, electrical, insulation and ventilation, and HVAC systems.

If any repair needs are identified during this step, you’ll have the option to complete them yourself, or the company can handle the work and deduct the costs from your offer.

3. Moving on With Your Life

After everything has been finalized with the offer and the assessment, Opendoor tells us that they’re ready to sign your contract when you are.

During this process, you'll be able to choose your move-out date (within three and 60 days), and Opendoor will handle the rest. You'll need to have one final walk-through the day before closing in order to verify everything's in the same condition, and all your belongings have been moved out.

In the meantime, Opendoor will open an escrow account with a national title company, and you'll need to sign your closing documents. If necessary, a mobile notary can meet you where it's most convenient.

From there, you’ll be able to get paid in a matter of days. After moving out, Opendoor will handle any maintenance requirements while getting the home listed and ready for the next buyer.

How Does Opendoor’s App Make the Home Buying Process Different?

If you’re looking to buy instead of sell (or perhaps even both, which we’ll talk more about next), Opendoor owns hundreds of homes for sale in the markets where they operate, including those that have yet to hit the market, which can be viewed 24/7 on their website and companion iOS and Android app.

Like the site, the app allows home shoppers to view for-sale homes and filter their search by the number of bedrooms and bathrooms, along with the price. App users can also view photos of the homes, save their favorite properties, and receive instant updates.

Most importantly, the app provides buyers with instant access to any of the company's listings between 6 am and 9 pm, without requiring an appointment. Basically, it acts as a key to your very own open house.

OpenDoor App ScreenshotsUsing a map-based approach, the Opendoor iOS and Android app allows users to search for residential real estate in different markets, view property details, and remotely schedule in-person visitsю

If you find a home you’re interested in, you can get directions through the app, and even speak with an Opendoor Home Advisor for additional information. Once you’ve decided to move forward, a dedicated team member will “work with you from offer to move-in.”

Buying and Selling at Once: Opendoor’s Trade-In Offer and Mortgage Services

If you’d like to sell your existing home to Opendoor and also purchase any listing on the market in a single transaction, you can opt for their Trade-In service. Here, they align the closing dates of your sale and purchase, allowing you to move only once and carry only one mortgage at a time.

Trade-Ins customers can finance with one of Opendoor’s preferred lending partners, or work with Opendoor Mortgage, an affiliated mortgage brokerage. According to Opendoor Mortgage, customers can get pre-qualified in less than 30 minutes, and can also save one percent off their closing costs.

To learn more about trading in a home with Opendoor, a representative can be reached at contact@opendoor.com or 480-381-6622.

How Much Does Opendoor Cost?

Requesting an offer from Opendoor is completely free. And until your home is assessed and both you and the company have decided to move forward, you can walk away without penalty or charge.

According to Opendoor’s pricing comparison page, the average seller will pay a 6.7% fee for the transaction. That said, Opendoor’s service charge could fall anywhere between six and 12 percent, which could cancel out some, or all, of these potential savings.

The company offers a 30-day satisfaction guarantee, which stipulates, “If you don't love your home for any reason, [they’ll] buy it back.”

What Can We Learn From Online Customer Feedback for Opendoor?

On their website, 50 Opendoor customers had given the company an average rating of 4.6 stars at the time of our research, with many referencing ease of use, speed, fair pricing, and strong customer support.

We found similar ratings and feedback on sites like Zillow, as well as Google My Business for their Dallas and Phoenix offices. Since writing our original article, 11 HighYa readers had given Opendoor an average rating of 2.5 stars, and the company had responded directly to complaints.

Between iTunes and Google Play, we encountered well over 100 reviews for Opendoor’s apps, with an average rating of about four stars. Many seemed to appreciate how it allows instant access to any of the company’ listings, as well as its ease of use.

On the other hand, frequent complaints referenced glitches, along with limited market availability. Again, in many instances, a company representative responded to these in an effort to find a resolution.

From a company perspective, Opendoor is based out of San Francisco, CA and was co-founded in 2014 by Keith Rabois, CEO Eric Wu, JD Ross, and Ian Wong.

Previously, Keith worked as a senior executive at PayPal and Slide and COO of Square, Eric was founder and CEO of Movity.com, JD was VP of Product at Addepar, and Ian built machine learning applications at Square and Prismatic.

The company held an A+ rating with the Better Business Bureau, based on eight customer reviews and two closed complaints, as of 12/27/17.

Our Final Thoughts About Opendoor

It’s clear that Opendoor has a lot to offer customers, including unique buying and selling services, a mobile app that provides customers with personal open houses, lending partnerships and financing options, competitive pricing, and a 30-day buy-back guarantee on every home they sell. In fact, there isn’t another service exactly like this in operation.

If you’re on the fence about using their services, obtaining an offer online and/or downloading the Opendoor app are both completely free. So, whether you’re thinking about selling your home or purchasing a new one, you might not have more to lose than a few minutes of your time for giving them a try.

Just keep in mind that Opendoor’s services are currently only available in six metropolitan regions (Phoenix, Dallas-Fort Worth, Las Vegas, Atlanta, Orlando, and Raleigh-Durham). And even if you live in one of these areas, remember the company has some fairly stringent eligibility criteria, so not every home will qualify.

Sign Up for HighYa Newsletter

Sign up for HighYa newsletter and get our best content delivered in your inbox as well as 3 free eBooks to help you save money and shop smarter. Enter your email below to get started!

70 Consumer Reviews for Opendoor

Average Consumer Rating: 3.1
Rating Snapshot:
5 star: 32 4 star: 4 3 star: 1 2 star: 8 1 star:  25
Bottom Line: 53% would recommend it to a friend
Showing 1-11 of 70
Sort reviews by:

  • Beware

    • Peachtree Corners, GA,
    • Sep 18, 2018
    • Verified Reviewer

    I received an offer below FMV, however, I had my eyes on another house and didn’t want to wait. I included all what I thought was issues, trying to be as transparent as possible. The assessment came back with no worries about the items I mentioned, however, with bogus items. "We think you have mold." What? I had a prior inspection report indicating no mold. "Your retainer wall may need repairs." No discussion of reductions - just denied. A complete waste of time.

    Note: they were past the due diligence period, and now they have to give me earnest money. Well deserved after wasting my time.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • 5 out 5 people found this review helpful

    Hard pass - not a good experience so far.

    • Atlanta, GA,
    • Sep 17, 2018
    • Verified Reviewer

    I have worked with Opendoor as both a buyer and a seller and as of now (9/15), I would not recommend them on either side. I'm still waiting to hear back from the GM as to how they are going to handle our current predicament (as the seller). I'll update my review with what happens next...

    I'll start with the seller side. We received an offer on our East Cobb house after I submitted all my info via their website that was a little lower than what we could get for it going the traditional route, but we knew what we signed up for, and it would be convenient. We agreed. When they came out to do the inspection, they sent different contractors looking at different things and they told me that I would hear back within 6 days with an inspection report/deductions. Cool. They were nice...things we good.

    Once we heard back our trouble began. They didn't take anything we had done to the house into consideration (new white paint on all trim/doors/new drawer pulls/new floors/leaving fridge), but deducted every little thing ($10,000+) they could find. Ok, not awesome, but normal enough. I can live with that. In addition to all the stuff they found they came back with this, with a note saying they were going to deduct an additional $10,000 from their original offer: "Condition Misstated Credit - Customer stated at the inputs that they had a 4 Car Garage, upon inspection it was found to be 2 car garage. " UHHHH NO I DIDN'T. And guess, what? I have PROOF. I'm slightly type-A (clearly) and I have a screenshot that I sent them at the time I submitted my request stating my quote was based off of a 2-car garage (we actually have a 2.5 car garage, but whatever.), and their rep responded with, "well, that's pulled from tax records and we only go off of what was inputted."

    Ok, I'll give them the benefit of the doubt. I go back on Opendoor.com and create an all new/dummy request for a quote and GUESS WHAT? Out of the 39 pages of info you put in, NOT ONE of those give you the option to input/change the size of your garage! I have 39 screenshots to prove it. So, nice lie, guys. You're busted. I have now been "escalated to their GM." Anxiously awaiting a response. (Side note - I'm not the only one who has experienced a bait and switch like this. I found this on other Yelp reviews across the country.)

    I finally get in touch with the Atlanta guy about the other upgrades they want me to make, and I mention that we were leaving behind a brand new $1500 stainless steel fridge. He says that doesn't matter, they "always" throw them out when they buy a house so we wouldn't get credit. Another lie. As a buyer I looked at no less than five Opendoor houses (including going into due diligence on one and pulling out because they were ridiculously hard to deal with), and some of them DID have refrigerators. Again, whatever, but these guys are clearly shady.

    Just my two cents (take it or leave it), but I'm honestly surprised by all these positive reviews by what I have experienced. The ONLY nice thing about them is that as a buyer I could look at any house I wanted without waiting on my real estate agent.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • Opendoor made it so easy.

    • Tennessee,
    • Sep 16, 2018
    • Verified Reviewer

    Opendoor was the best experience. Everyone I worked with was professional and helpful all along the way. The offer that came in was really fair market, I got an outside consult with a realtor I have used before and trust, and she honestly didn't think she could get me any different. The process is painless and worry-free. They give you lots of options and explain EVERYTHING in easy to understand terms. Big thanks to Dan Burkhart and Aubrey Bachand for all the work.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (1)
    View all 1 commentsHide comments
    • Sep 17, 2018

      Tirza D., Community Manager

      Thanks for sharing your experience, Adam! We're so glad to have been able to support you through your home sale. We will be sure to pass along your kind words to the team.

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • Best experience EVER!

    • Hermitage, TN,
    • Sep 15, 2018
    • Verified Reviewer

    I cannot say enough good things about my experience with Opendoor! It started with a great offer for my house, I accepted the offer, they sent their inspection team, sent me a detailed repair list with a dollar amount for Opendoor to complete repairs, and I choose whether to pay them or do the work myself. I set my own closing at a time that comfortable for me. Even when I wanted to move closing up two weeks, no problem! They sent a notary to my home to close, and the proceeds from my sale were wired to my bank account the next day. The sale is done! No taking my pets out of the house at a moment's notice for showings, I don't even have to clean it! Just move out! It really is that simple! Thanks for an amazing, stress-free experience Opendoor!

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • 5 out 5 people found this review helpful

    Total scam

    • Temple Terrace, FL,
    • Sep 15, 2018
    • Verified Reviewer

    Opendoor starts by saying they can offer a fair market price. Their offer to us was 83% of our home value based on recent sales per square foot in our immediate community. That was okay with us since they were allowed to make a profit reselling. Then they added their own 7% administrative fee.

    Then they deducted for "updates" they way overcharged. For instance, we had replaced the air conditioner 12 years ago (30-year expected life) but they deducted for a whole new air conditioner without allowing for a trade in. The kitchen cabinets and counters had been replaced 10 years ago, but they deducted for a whole new kitchen without regard to a deduction they would receive even if they donated the existing cabinets to something like Habitat for Humanity. The deductions went on and on even though their own home inspector said our home was in incredible shape for its age of 30 years.

    We went to closing and the closer told us to expect our proceeds to be deposited in our account by that afternoon. We only we got a call at the end of the day asking why we hadn't paid Opendoor $6,050 for "buying" our house?! Yes, their closing documents were THAT "devious" that even the professional closer thought we were being paid money than Opendoor CHARGING us money to "buy our house!"

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (1)
    View all 1 commentsHide comments
    • Sep 17, 2018

      Tirza D., Community Manager

      Thank you for sharing your experience. Please know that your feedback will be circulated internally and we will use this as an opportunity to improve. If you have any additional feedback you would like to share, feel free to email community@opendoor.com.

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • 5 out 5 people found this review helpful

    Pass unless you're desperate

    • Las Vegas, NV,
    • Sep 15, 2018
    • Verified Reviewer

    We are in the process of selling our house and we had our personal realtor over to evaluate our home to prepare for listing. He showed us the comps and we agreed it was fair. Naturally, you think your home is worth more and I did as well, but I said ok to what our realtor said was a fair offer.

    We began to also look at other houses to move to as we are downsizing now that 2 of our 4 kids are grown and moved out. We found the perfect house and fell in love with it, so the realtor for that property told us about Opendoor. We gave it a shot and submitted our request for an offer, they got back to us 2 days later with an offer that was 45,000 less then what our realtor said it was worth and they wanted to charge us 25,000 in fees. We were highly insulted by the offer and immediately passed.

    I now understand the way this company operates. They offer to buy houses and the people who are extremely desperate for whatever reason will take the offer which guarantee is less than if they went traditionally. We were not desperate to sell despite loving the new house. We are sticking with our realtor.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (1)
    View all 1 commentsHide comments
    • Sep 17, 2018

      Tirza D., Community Manager

      Thank you for your feedback, Jessica. Please know that your feedback will be circulated internally so we can continue to improve the experience for both buyers and sellers. We wish you all the best with your home sale and we appreciate you giving Opendoor a shot.

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • 1 out 1 people found this review helpful

    Void of service

    • San Antonio, TX,
    • Sep 14, 2018
    • Verified Reviewer

    It seems neat to go view a house whenever you want. However, if you want information about the house, forget about it. There is no easy or expedient way to contact someone who is not part of the giant 800 number representing Opendoor. The house we viewed had significant water damage and mold in the garage. It appeared it also affected the upstairs bedroom window. There was also water damage at the room line. Not a mention of it in the listing.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • 1 out 1 people found this review helpful

    A paragraph won't be enough so I'll cut to the point!

    • Arizona,
    • Sep 13, 2018
    • Verified Reviewer

    Madelynn Triggs at Opendoor is a SUPERSTAR in every possible way at Opendoor. She treats buyers (working with agents) as if their happiness and positive outcome are the MOST important part of the sale! Considering Madelynn Triggs represents the sellers, this is unheard of! This was my first sale with Opendoor and Madelynn and she exceeded my expectations more then words can describe. She does what she says she'll do and then adds another 100% in effort! From the beginning, Madelynn Triggs communicated, always listened and immediately answered all questions. She was proactive, kind, available to reach and so much more!

    After 13 years in real estate, 95% of my business is with buyers. I'm very active, so it takes a lot to blow my mind from the listing agent. Let's be honest, most list agents primarily concern themselves with the sellers.

    Just as my buyers accomplishing their dreams and feeling like their needs are top priority is most important to me. I try to show through my actions and not just words that I'll do whatever it takes!

    To have the listing broker make the same effort is shocking! We had a lot of unexpected issues come up during this transaction and what "typically would happen," which would be falling out of escrow, didn't happen!

    This was my first sale with Opendoor and they could have thrown in the towel, but they did the opposite. They worked with my buyers and my team like we were all part of their family. We closed a week ago and my buyers now have their first home thanks to Opendoor! I will forever be grateful and will spread the word!

    So if you ever want a real broker testimonial for a compelling true story (in more detail), I will be more than happy to share my experience with others! Thank you to Madelynn Triggs, the Opendoor team and especially Lisa (one of the managing brokers- high up in the company) who really put herself out there to help make this happen!

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • Seamless and stress-free

    • Wake Forest, NC,
    • Sep 8, 2018
    • Verified Reviewer

    The entire process from offer to closing was seamless. We received a fair offer, fair repair quote and all went as scheduled. We skipped the hassle of multiple showings and long closing delays. I can’t say enough how easy the process was. I will admit I was skeptical at first, but the process ending up being the best thing for our family and a stress-free home sale.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • 3 out 5 people found this review helpful

    Waste of time

    • Arizona,
    • Sep 6, 2018
    • Verified Reviewer

    I attempted to sell my home to Opendoor and it ended up being a huge waste of time. The inspector they send out to check my home was not a certified home inspector, and he worked directly for Opendoor, which was the first red flag. It then took them 7 days to tell me they are going back out of the deal because they smelt "mildew." It was easily explainable as a wet carpet tile I just finished cleaning and placed back in the house to show that day, unfortunately wasn't dry or clean enough. Opendoor would hear none of it and refused to work with me any further even though the perceived issue was non-existent after I replaced the carpet tile. I also have a moisture mitigation system for under the house and they assumed it was for some kind of Radon Gas prevention which is entirely off base.

    Clearly Opendoor knows absolutely nothing and completely wasted my time by making me wait 7 days to end up backing out. I had to actually call them to track down an answer the 7th day to any info at all.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • 7 out 8 people found this review helpful

    Not what we were told

    • Texas,
    • Sep 4, 2018
    • Verified Reviewer

    We are still in the process of selling our house, so I'm writing this hoping they make it right. We were given an initial offer that seemed fair based on the condition of our home and the current market. We set up the inspection which went great. There was only about 2k worth of repairs, $1600 of it which we can fix ourselves. When we got the repair estimate back we were also called and hit with a $16k valuation credit because they "made an error" when calculating our lot size.

    The perception is that this is a complete scam as it was given to us in a matter of fact way. I'm hoping they can make this right by waiving another type of fee, but I'm pretty frustrated at this point as this is not what we were hoping for.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (1)
    View all 1 commentsHide comments
    • Sep 5, 2018

      Tirza D., Community Manager

      Thank you for your feedback, Erin. We apologize for any lapse in communication and we will share your insights with our internal teams as we work to ensure the best customer experience possible. Additionally, we have flagged your issue with the team that is working with your home, please continue to work with them directly. We truly appreciate you choosing Opendoor for such an important transaction.

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


Showing 1-11 of 70

Write a Review for Opendoor!

Share your experience to help others shop smarter & discover great products.

Write a Review