Mark Spain Real Estate and Opendoor are cash home buyers that give owners an alternative to selling on the open market.
However, each company comes with its own list of pros and cons.
Mark Spain Real Estate’s service area spans only six southern states. By contrast, Opendoor is one of the nation’s leading iBuyers — or tech-based cash buying platform — and is available in more than 50 markets across the US.
Either cash buyer may work if you want an alternative to selling with a realtor, but it’s best to weigh them against each other to make an informed decision.
Let’s dive into each company’s fees, offer value, customer experience, and more to help you decide if either is a good fit for your needs.
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Mark Spain vs. Opendoor: Overview
| Offer quality | Service fee | Availability | Customer rating | |
|---|---|---|---|---|
| Mark Spain Real Estate | Average | 2-3% + 1% closing costs | 16 markets in 6 states | 4.7/5 (4,000+ reviews) |
| Opendoor | Above Average | 5% | 50+ markets in 25 states | 4.2/5 (4,000+ reviews) |
Mark Spain Real Estate and Opendoor are legitimate real estate businesses that purchase homes with upfront cash offers. Pros of selling through a cash buyer include:
- Fast closing — some companies close in as few as 7 days
- No need to worry about repairs, showings, or contingencies
- No realtor fees, and many companies cover closing costs
The convenience and simplified selling process also comes with some cons:
- Cash buyers don’t pay full market value for homes
- Offers typically change after calculating repair costs
- Some cash-for-homes companies have hidden fees
Mark Spain first opened in Georgia in 2016. The company offers a hybrid selling model for homeowners. Customers can choose to:
- Sell for cash upfront through the company’s Guaranteed Offer Program
- List on the open market with an agent on the Mark Spain team
Opendoor was founded in 2014 and is currently a publicly traded company. As an iBuyer, the company takes a tech-driven approach to facilitate quick sales.
Working with an iBuyer like Opendoor can save you time and help you avoid common real estate hassles. But it comes with potential drawbacks, such as:
- Stricter purchasing criteria than other cash buyers
- High repair costs deducted from the initial cash offer
- Hefty service fees that rival realtor commissions
- Lower than market value offers
Transparency of fees and pricing
Mark Spain agents facilitate all of the cash offers by connecting sellers with buyers in a real estate investment network — this means you may be responsible for paying full commission on your cash sale when you close.
Opendoor is transparent about its 5% service fee, while Mark Spain isn’t clear on the costs associated with the Guaranteed Offer Program.
Offer price and market value
Mark Spain’s guaranteed offers fall well below fair market value because the company sells to a network of real estate investors through the program.
Real estate investors must make a profit when purchasing a home, and most only offer 50-70% of fair market value to ensure they make money after flipping and selling.
To make the most on your home, it’s best to connect with a trusted real estate agent who can sell your home for closer to fair market value.
Opendoor is known for better-than-average cash offers — some initial offers are close to fair market value. But that offer often decreases after the iBuyer factors in repair fees.
Customer experience
Mark Spain has mixed reviews from past customers. Some are happy with the sales process, while others are concerned that the Guaranteed Offer Program is a bait-and-switch tactic to get customers to list on the open market.
Customers who go with Opendoor have generally positive things to say about the company, highlighting a stress-free and quick selling process. However, the costly repairs are a sticking point for many customers.
Availability
Mark Spain has a smaller service area that’s limited to southern states. The company serves 16 markets in FL, GA, NC, SC, TN, and TX.
Opendoor has a broader service area that covers 50+ major markets in 25 states, including: AL, AZ, CA, CO, FL, GA, ID, IN, KS, MA, MI, MN, MO, NV, NJ, NM, NY, NC, OH, OK, OR, SC, TN, TX, UT, VA, and Washington, DC.
How Mark Spain and Opendoor work
Mark Spain and Opendoor both provide upfront cash offers, but the process varies between the two. Here’s how they stack up against each other.
| Opendoor | Mark Spain |
|---|---|
| Step 1: Get a preliminary offer by filling out your home info on the website. Step 2: Create a video walkthrough or perform a virtual walkthrough on a live call. Then book an in-person inspection. Step 3: Receive a final offer after the Opendoor team evaluates your property for repairs. Step 4: Sign the purchase agreement and arrange a closing date (or walk away). | Step 1: Submit your home for an offer from the Mark Spain team. Step 2: Schedule an in-person walkthrough and receive a guaranteed offer from the agent.* Step 3: Accept the guaranteed offer (contingent on a home inspection) or choose to walk away from the deal. *During the in-person walkthrough, the Mark Spain agent may encourage you to sell on-market instead. |
Fees and costs
Mark Spain Real Estate doesn’t disclose its fees online. Customers should expect to pay standard realtor fees because an agent represents you during the Guaranteed Offer Program.
Opendoor charges a straightforward 5% service fee plus the typical closing costs (often around 1%). The company also factors in repair costs after the preliminary offer. These costs vary by property and can be substantial in some cases.
Customer reviews and experiences
Past customers of Mark Spain Real Estate and Opendoor have mixed feelings about working with both companies.
Most reviewers have generally positive things to say about how the companies handle the cash-for-homes process. However, some feel that the offer quality and level of transparency don’t stack up to other options.
Mark Spain Real Estate customer reviews
Mark Spain Real Estate garners generally positive customer reviews, with an overall rating of 4.7/5 from more than 4,000 reviews on the Better Business Bureau, Google, and Yelp.
The customer experience varies by location, and positive reviews generally reflect agent performance — not the Guaranteed Offer Program.
✅ ‘A true professional from the first meeting.’
Customers rave about the Mark Spain Real Estate team and the professionalism they exhibit. Tracey A. felt that selling their home could not have gone better:
We had a wonderful experience with Mark Spain and the guaranteed offer. Our realtor, Thomas Martin, was a true professional from the first meeting through the closing. ... It honestly could not have gone any better AND we received an offer that was higher than we were expecting with a 'traditional' experience.
❌ ‘We received zero cash offers.’
Some potential customers who apply for the Guaranteed Offer Program report that the company only uses the program to convince them to sell on-market. Scott H. said that he received no cash offer after his walkthrough.
They advertise cash offers all day long on the radio. I called them as our house is empty and ready for sale. All I got was an agent who came out and pitched me on listing it with them. We got no cash offers.
Opendoor customer reviews
Opendoor reviews are generally positive, with a 4.2/5 rating from over 4,000 reviews on the Better Business Bureau, Google, Trustpilot, and Reviews.io.
Happy customers praise Opendoor for quick sales, while displeased customers feel that offers could be better.
✅ ‘Opendoor made it simple.’
The company’s early selling process earns Opendoor outstanding reviews from customers. Paul H. said the iBuyer offered much more than he expected.
I was shocked and amazed with the entire Opendoor process! I mostly contacted Opendoor out of curiosity. Had no real intention [of] selling. Their offer was far above what I was expecting, especially since the offer was as is. All we had to do was empty the place and sweep it out. Opendoor made it simple...
❌ ‘Offered $80,000 below appraised value.’
One common negative review trend is Opendoor’s offer quality. Customers like Scott feel that making a high initial offer and then charging five figures for repairs is uncalled for.
[The] house appraised for 580,000, but [my] parents are elderly and need to move ASAP for health reasons. Opendoor took advantage of this and offered 80k below appraised value with 12K in repairs that they can't even name...
Which option is better for you?
Mark Spain may work best for homeowners on the fence between selling for cash or taking their home to the open market. The Guaranteed Offers Program allows customers to sell to an investor or list on the MLS if the assigned realtor feels it’s a better option.
The company’s team of realtors is highly reviewed, and many customers rave about their professionalism. And if you take the guaranteed offer, Mark Spain advertises that you can close in as few as 21 days.
Opendoor works well for customers with newer homes who want a quick, hassle-free selling process in exchange for a lower offer than fair market value.
Selling to the iBuyer suits tech-savvy customers better. Opendoor handles most of the selling process digitally, which might feel too detached for homeowners who prefer face-to-face communication.
If you want the best cash offer for your home, it makes sense to compare multiple options.
Comparing cash buyers is simple with Clever Offers, which introduces you to the best investors in your area.
The platform can also match you with a reputable real estate agent to help solicit cash buyer bids or list your house on the open market, if that’s your preference. Take a quick quiz to get started.
The bottom line
Mark Spain and Opendoor take different approaches to buying homes for cash. One focuses on in-person appraisals and offers, while the other takes a tech-focused approach to real estate.
Ultimately, you should consider your priorities before deciding on a cash buyer. If speed and convenience outweigh making the most money on your sale, either cash buyer may be a good fit for you.
When choosing a cash buyer, it’s critical to compare multiple options so that you can find the best, most convenient, highest-paying choice for you. Try Clever Offers today and start getting bids from cash buyers in your neighborhood. There are no fees to get started, and there’s no obligation to commit.