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+.
Is Opendoor legit?
Yes, Opendoor is a real company: it is publicly traded on Nasdaq (OPEN) and buys and closes on homes directly. The main caveat is price. In 2022 the FTC alleged that most sellers who sold to Opendoor ended up with thousands of dollars less than a traditional sale would have netted them (Opendoor settled for $62 million without admitting wrongdoing), and sellers still report offers that drop after the home assessment.
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
Opendoor complaints and praise: what sellers report
Recurring themes in BBB complaints, reviews and reporting, checked September 2026. Each links to its source.
Net proceeds below a traditional sale (FTC settlement)
In 2022 the FTC alleged that Opendoor's marketing misled sellers about its offers and costs, and said most people who sold to it made thousands of dollars less than they would have on the open market. Opendoor agreed to pay $62 million without admitting wrongdoing, and the FTC sent refunds to sellers in 2024.
FTC press release: action against Opendoor Labs (Aug 2022)FTC: Opendoor refunds
Offer drops after the assessment
Low-rated Trustpilot reviews describe an attractive estimated offer that fell sharply once photos or the assessment were reviewed. A 2026 BBB complaint describes signing a repair addendum after the inspection without clear confirmation of the final price.
Trustpilot 1–2 star reviews of OpendoorBBB complaints for Opendoor
Total fees higher than expected
Negative Trustpilot reviewers say that once the service fee, repair credits and closing costs were added up, the amount they would actually receive was much lower than the headline offer.
Hard to reach during the transaction
BBB complainants describe trouble getting answers by phone, email or text while under contract, and difficulty escalating past front-line representatives. Opendoor's public responses typically point sellers back to their assigned support specialist.
BBB complaints for OpendoorTrustpilot 1–2 star reviews of Opendoor
Fast, simple sale with no showings
Five-star Trustpilot reviewers, mostly sellers, praise a quick, remote process with no open houses and helpful staff. Several say outright that they accepted less than top dollar in exchange for the convenience.
Compare Opendoor
Have a cash offer through Opendoor?
Before you sign, check the purchase contract for assignment rights, inspection deadlines, and other terms that can affect your sale.
Check the contractReddit 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?
Yes, Opendoor is a real company: it is publicly traded on Nasdaq (OPEN) and buys and closes on homes directly. The main caveat is price. In 2022 the FTC alleged that most sellers who sold to Opendoor ended up with thousands of dollars less than a traditional sale would have netted them (Opendoor settled for $62 million without admitting wrongdoing), and sellers still report offers that drop after the home assessment. 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 do sellers complain about with Opendoor?
Net proceeds below a traditional sale (FTC settlement): In 2022 the FTC alleged that Opendoor's marketing misled sellers about its offers and costs, and said most people who sold to it made thousands of dollars less than they would have on the open market. Opendoor agreed to pay $62 million without admitting wrongdoing, and the FTC sent refunds to sellers in 2024. Offer drops after the assessment: Low-rated Trustpilot reviews describe an attractive estimated offer that fell sharply once photos or the assessment were reviewed. A 2026 BBB complaint describes signing a repair addendum after the inspection without clear confirmation of the final price. Total fees higher than expected: Negative Trustpilot reviewers say that once the service fee, repair credits and closing costs were added up, the amount they would actually receive was much lower than the headline offer. Hard to reach during the transaction: BBB complainants describe trouble getting answers by phone, email or text while under contract, and difficulty escalating past front-line representatives. Opendoor's public responses typically point sellers back to their assigned support specialist. Fast, simple sale with no showings: Five-star Trustpilot reviewers, mostly sellers, praise a quick, remote process with no open houses and helpful staff. Several say outright that they accepted less than top dollar in exchange for the convenience.
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.