Transaction Coordinators
OpenDoor Competitors
Here are OpenDoor's competitors - and, alternatives to OpenDoor that can help you sell your home quickly, along with each of their pros and cons.
Offerpad Competitors
Today you have many options when it comes to buying or selling a home. It is worth it to look into your options, and review some of Offerpads competitors.
Madison Clifton
Jun 13, 2019
You want to sell your house fast with little hassle, trust me we understand. Below is a list of Offerpad competitors you might want to look into if considering a “iBuyer” or similar company. Before looking into Offerpad competitors though, let’s review some characteristics of Offerpad.
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Offerpad
Offerpad began with the goal to simplify the process of buying and selling homes. A real estate agent started the company, due to this they do have extended knowledge and experience in the market that is valuable. The process of selling your home on Offerpad begins with you requesting an offer, and within 24 hours, you have one. After that you can either decline or accept the offer. If accepted then all that’s left is the paperwork and your finally moving out. While you might escape commission fees using this method, the company does still charge fees for using their service.
Pros:
- Founder has background in real estate
- Fast and streamlined process
- Offer in 24 hours
Cons:
- Does not cover every market in the US
- Price of your home is not tested in the open market
- Cost of using service
Opendoor
This company appears to be the closest alternative to Offerpad. The two companies essentially offer the same service. After requesting and accepting your offer on Opendoor, they will schedule on onsite visit to verify the condition of your home. Similar to Offerpad, if they find any repairs that need to be done they will simply deduct that from their price and continue with the sale. The major difference between the two companies is that Opendoor is only available in markets that it has decided are the most profitable. Whereas Offerpad can be found in larger selection of markets.
Pros:
- Streamlined process
- No repairs or updates necessary
- Paid for your home in a matter of days
Cons:
- Not available in all markets
- Offer price is not necessarily the price your home could sell for on the open market
- Potentially high fees
Transactly
Transactly is a technology company whose platform is used nationwide. While Transactly does not offer the same exact service as Offerpad, it still allows sellers to select a full service agent for a discounted commission. Buyers, sellers, and agents are able to use Transactly to simplify the real estate process. Then, the entire process from the time the offer is made to closing is managed on Transactly. The goal is to make the process as quick and painless as possible while still allowing you to get the best price for your home. Transactly allows you to sell your home quickly and for market value.
Pros:
- Reduced commission, when agents compete
- Market value price for your home
- Available everywhere
Cons:
- Still may have to do showings
- Make repairs to your home if necessary for sale
- Sale is not guaranteed
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WeBuyHouses
This is another company that is categorized as an iBuyer. They will buy your house as is, or in any condition. WeBuyHouses advertises that they buy homes from sellers who are facing foreclosure, behind on their loans, or even have a house that is underwater. They can give you an offer in 24-48 hours, and close the deal within 7-14 days. While the company has many great reviews, it is difficult to find any unbiased reviews on any iBuyer companies.
Pros
- Close the deal within 1-2 weeks
- No open houses
- Fast process
Cons
- Could get below market price offer
- Potential underlying fees
- Never find out what your home could sell for on the open market
What is Best for You?
There are many Offerpad competitors and you have a countless number of options when it comes to selling or buying a home. Whether you want to have an offer on your home in 24 hours, or test out the open market, there are platforms to help you sell your home efficiently.