Opendoor

Sell Your Home Without Listing It

Opendoor buys homes directly from sellers with all-cash offers generated by pricing algorithms. Founded in 2014 in San Francisco, they have purchased and resold over 250,000 homes in 50+ US markets. The process: enter your address on their site, get a preliminary offer in minutes, schedule an assessment, receive a final cash offer, and pick your closing date (typically 14-60 days). No showings, no staging, no open houses. Opendoor charges a service fee comparable to traditional agent commissions.

They have since expanded beyond iBuying into listing services, home loans, and title and escrow — but the instant cash offer remains the flagship product.

What Buyers Get

Opendoor’s buyer-side innovations are underrated. Their Opendoor-backed Offer program lets buyers make cash-equivalent offers on any home (not just Opendoor-owned ones) while still using mortgage financing. In competitive markets where cash offers win bidding wars, this is a genuine advantage. They also allow self-guided tours of Opendoor-owned properties — unlock the door from the app and tour on your own schedule, no agent appointment needed.

The Math You Should Do

Opendoor’s instant offers are typically below open-market value. They have to be — the company needs margin for repairs, holding costs, and profit. Independent analyses suggest the gap is usually 3-8% below what a well-marketed listing would fetch, though it varies by market and property condition. For sellers who prioritize certainty and speed over maximum price, that discount is the cost of convenience. For sellers with time and a property in good condition, listing on the open market will almost always net more money.

Worth knowing: Opendoor operates primarily in Sun Belt and Southeast markets. If you are in the Northeast or Midwest, they may not be available in your area yet.