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Opendoor reviews

Buys homes directly (iBuyer) · Tempe, Arizona · Founded 2014

Opendoor is a company that buys homes directly with its own money (an iBuyer). It was founded in 2014 and is based in Tempe, Arizona. It is publicly traded (OPEN, Nasdaq). On Trustpilot, it has a 4-star rating from 877 reviews. On Yelp, one of its local pages (opendoor los angeles) shows 1.4 stars from 54 reviews. Its Better Business Bureau rating is A+.

How Opendoor works

Process
A seller enters the address and home details online to receive an estimated cash offer, then shows the home by taking guided photos in the Opendoor Key App; local pricing experts review the details and typically finalize the offer within a few days. After reviewing the offer, charges, and estimated net proceeds, the seller can accept, select a preferred closing date, sign, and close electronically where permitted.
Fees (per the company)
The current company site says the offer includes a program fee for selling without staging or showings, a condition adjustment, and title and escrow costs of 1–3% paid to third parties; it does not publish a universal current percentage for the program fee and says the exact charges appear in the offer. Opendoor's 2024 Form 10-K separately described its service fee as 5%.
Where it buys
Nationwide across the contiguous United States: Opendoor says it buys eligible single-family homes in every postal code in the lower 48 states where such homes are available.
Stock
OPEN, Nasdaq

Reddit discussions

Threads that mention Opendoor. We link to them; we don't verify what's said there.

Sources

  • Opendoor's current selling page says sellers enter their address and details to get an estimated cash offer, then receive a final offer after the home assessment and can pick the closing date. company website
  • The 2024 Form 10-K says the core 'Sell to Opendoor' product lets sellers sell directly to Opendoor, which resells the home; it says sellers receive an estimated online offer, Opendoor conducts an assessment to finalize it, and sellers select a closing date and may close electronically where permitted. SEC filing
  • The same 2024 Form 10-K says the vast majority of Opendoor's revenue comes from acquiring homes directly from sellers and reselling them to buyers, while its separate Marketplace connects sellers with institutional and retail buyers without Opendoor taking ownership. SEC filing
  • Opendoor's help center says it currently buys single-family homes in every postal code in the lower 48 states where single-family homes are available. company website
  • Opendoor's investor FAQ says the company was founded in 2014. company website
  • Opendoor's investor FAQ identifies Tempe, Arizona as its headquarters. company website
  • Opendoor's investor FAQ says its common stock trades on Nasdaq under ticker OPEN. company website
  • Opendoor's current site says the direct-sale offer includes a program fee, a condition adjustment, and title and escrow costs of 1–3% paid to third parties. company website
  • Opendoor's 2024 Form 10-K says it charges a service fee to customers who sell directly to it and describes the service fee as 5% in its spread definition. SEC filing
  • Opendoor's current 'How selling works' page says the seller tells Opendoor about the home, uses the Key App to take guided photos, and has the details reviewed by local pricing experts; offers are typically finalized within a few days. company website
  • Opendoor's 2025 second-quarter company release says it operates in markets nationwide and identifies the company as Opendoor Technologies Inc. (Nasdaq: OPEN). company website

Common questions about Opendoor

Is Opendoor legit?

Opendoor is a company that buys homes directly with its own money (an iBuyer). It was founded in 2014 and is based in Tempe, Arizona. It is publicly traded (OPEN, Nasdaq). On Trustpilot, it has a 4-star rating from 877 reviews. On Yelp, one of its local pages (opendoor los angeles) shows 1.4 stars from 54 reviews. Its Better Business Bureau rating is A+.

What does Opendoor charge?

The current company site says the offer includes a program fee for selling without staging or showings, a condition adjustment, and title and escrow costs of 1–3% paid to third parties; it does not publish a universal current percentage for the program fee and says the exact charges appear in the offer. Opendoor's 2024 Form 10-K separately described its service fee as 5%. Always check the final offer and settlement statement for every fee before you sign.

How does selling to Opendoor work?

A seller enters the address and home details online to receive an estimated cash offer, then shows the home by taking guided photos in the Opendoor Key App; local pricing experts review the details and typically finalize the offer within a few days. After reviewing the offer, charges, and estimated net proceeds, the seller can accept, select a preferred closing date, sign, and close electronically where permitted.