Is Open-door Worth When Buying and Selling

ByReyes Signature Properties

Planning to sell or buy a house? The first option that strikes our mind is to consult a realtor in San Antonio to help in our home selling process. Selling a home through a real estate agent is a time-consuming and complex process. But what if one is looking for convenience in selling the house? Well, then working with Open-door is the right decision for you. Open-door is All About Convenience.

Have you heard of Open-door?

Open-door came into the real estate market several years ago. It has been featured in advertisements on T.V, radio, social media, and major publications. It is a one-stop shop for buying and selling real estate. They make your selling experience fast and easy. In simple words, open-door offers a streamlined service and relieves the seller from the stress of selling the house. They make a cash offer within 24 hours after contacting them. Thus, Open-door is the best option for those looking for a quick and easy sale rather than high profits.

Let’s understand the process of selling your house through an Open-door

The home selling process through open-door is simple and streamlined. As with all online transactions, the seller visits the online website of open-door and puts a request for an offer. The seller enters the necessary information such as the address and various features of the house such as the home’s square footage, number of bedrooms, upgraded appliances, refurbished flooring, etc. 

Open-door evaluates these details and sends a cash offer to the homeowner within 24 hours of putting in the request. This is a preliminary offer. The seller can either accept or reject this offer. If the seller accepts this offer the Open-door arranges for a home inspection at its own cost. After the inspection process, the Open-door makes a final offer taking into consideration the repairs required. This offer price is usually not negotiable. If the seller finds the offer price not satisfactory, he has the freedom to reject it without any penalty.


Read here to know which one is better of the two iBuyer or real estate agent.

Is Open-door worth it?

  • It is a worth considering option for people who are in a rush to sell their house with minimal hassle.

  • It is worth for people trying to relocate. If you have already purchased a new house, open-door saves you from the hassle of handling two mortgages at a time by purchasing your old house quickly.

  • It is ideal for people who have inherited a property and want to dispose of it off quickly to equally distribute the sales proceeds.

  • It works best for people facing a financial crisis and requires immediate cash to pay off their debts.

Open-door also allows the seller to choose their closing date. In addition, they also save the seller the hassle of listing and showing. For busy families, it is a perk as they do have to bother to clean the house or leave their homes for home showing or open house. 

Another advantage is that open-door buys homes in as it is condition, so you need not worry about carrying out any repairs before letting your house for sale. They also provide the seller the opportunity to stay in the house for 14 days after closing. This gives enough time to the seller to make all necessary arrangements before moving into another house. Open-door also offers additional services like title insurance and mortgages for a nominal fee.


As all businesses run with a profit motive, open-door also purchases a house with enough margin to make small profits. But one should not misunderstand open-door with a flipper. Flippers buy homes at a very low price and sell them at a higher price after making necessary upgrades. The price offered by open-door is usually close to the fair market value of the house. (Say around 98% of the open market price). This means that the offered price is lower than the price of houses that sell in the open market through a real estate agent. 

San Antonio realtors are experts in pricing and negation and can help you in getting a good deal for your house. So, if you are looking for a good margin of profit then open-door is not a good option for you.


Also, as all services are charged, open-door charges a service fee of around 7% to 13% of the selling price. This service fee varies according to the location and the estimated time in which the houses sell in that area. This fee is also non-negotiable. As opposed to this, top realtors in San Antonio charges a commission of around 6% of the selling price which is negotiable. Also, open-door carries the repair work by hiring its contractors so you do not have the opportunity of controlling the repair cost. 

Thus, for people who are looking for higher margins with lesser service fees and who do not mind waiting for a longer period, partnering with a real estate agent is a better option. Similar to a traditional sale, the seller is responsible for paying the costs while selling through open-door too.


For people who own a house in a hot market, using open-door is not necessary. Houses in the hot market sell quickly and at a considerably higher price.

Since Open-door offers their purchase price and terms, the seller needs to have expert knowledge about the current pricing trends in the local market before considering it as an option. Experienced sellers will be in a better position to judge whether the price offered is close to the fair market value. For first-time buyers who do not have expert pricing knowledge working with an open-door is not worth it. They may lose revenue if the price offered is lower than the fair market value.   

Open-door eliminates the emotional experience of buying and selling a house. When you consider selling through a real estate agent you may find a buyer who may fall in love with your house at the first sight and would be willing to pay a price higher than the asking price. This is not possible through Open-door.

Conclusion:

Working with open-door or not depends on an individual needs. It has its pros and cons. To get a quicker sale you may lose substantial revenue. So, think wisely before you choose your option. 

Since open-door services are available only in limited areas working with top realtors in San Antonio may just be your best bet.