✏️ Editor’s Note: Realtor Associations, agents, and MLS’ have started implementing changes related to the NAR’s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. Learn how NAR’s settlement affects home sellers.
Doug Hopkins Real Estate is an Arizona-based cash buyer company. They purchase your property as-is. So, you can offload a hard-to-sell property to them for an all-cash offer.
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Pros
- Fast and hassle-free sale
- No appraisal contingency
- No agent commission and other closing costs
Cons
- Offers less than the FMV of the house
- No scope to negotiate offers
- Only available in Arizona
Doug Hopkins Real Estate is a cash buyer company. They buy homes as is. You can sell your home to Doug Hopkins even if it has issues like a damaged roof, a poor HVAC system, etc. They also buy homes in financial distress, like foreclosures.
On average, Doug Hopkins closes on home sales in 7 days, 8 times faster than the typical duration. Additionally, they don’t charge any commissions or closing costs. But you may have to settle for a low offer for all this convenience.
Cash buyers usually offer 70% of the after-repair value of your house. Although Doug Hopkins doesn’t disclose anything about their offer amount, we believe it follows the standard industry practice.
Doug Hopkins provides a non-obligatory offer, which is worthwhile to explore. However, we would recommend you list your property on a cash buyer marketplace to attract multiple offers and grab the best deal.
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✍️ Editor’s Take: We recommend you list your property on the cash buyer marketplace Houzeo. A marketplace creates a bidding war, so you can secure the highest possible value for your property. Compare Doug Hopkins Real Estate vs. Houzeo.
Is Doug Hopkins Real Estate Legit?
Yes, Doug Hopkins Real Estate is a legitimate cash buyer company headquartered in Mesa, Arizona. The company is operated by founder Doug Hopkins. They cater to major markets in Arizona, including Scottsdale, Tempe, and Tucson.
Doug Hopkins has been a licensed Realtor since 1994. He has successfully made 20,000+ transactions. Additionally, he has also appeared in Discovery Channel’s house-flipping series ‘Property Wars’. This shows his expertise as a house flipper.
Although Doug Hopkin’s primary focus is to buy properties for cash, they also work as a brokerage. They collaborate with My Homes Group to offer brokerage services in Arizona.
Types of Properties Doug Hopkins Purchases
Doug Hopkins Real Estate purchases all kinds of homes. It is a great option for those looking to offload a hard-to-sell property. Some of these houses include:
- Homes with structural damages
- Houses with ongoing mortgages
- Inherited properties
- Houses facing foreclosure
How Does Doug Hopkins Real Estate Work?
You can sell to Doug Hopkins Real Estate by following these 4 steps:
- Get a Preliminary Offer: Visit doughopkins.com to request an offer estimate. Provide basic property details, your name, and contact information. Doug Hopkins’ team will review your property and provide you with the initial offer.
- Schedule a Visit: If you decide to proceed with Doug Hopkins, an agent from their team will visit your house for a home inspection. The agent will evaluate the property and identify any necessary repairs.
- Get Final Offer: You get the final offer within 24 hours of the inspection. If their offer doesn’t meet your expectations, you can walk away.
- Close on the Home: If you wish to continue, you can close on the house without incurring any commission or closing costs. While Doug Hopkins doesn’t disclose the exact closing timeline, they usually close in approximately 7 days.
Coverage of Doug Hopkins
Doug Hopkins Real Estate covers major markets in Arizona, including Gilbert, Phoenix, Scottsdale, Tempe, and Tucson.
How Much Does Doug Hopkins Real Estate Pay?
Usually, cash buyers like Doug Hopkins pay 70% of your home’s after-repair value (ARV). The offer depends on the condition or financial situation of your house. So, if your house is severely damaged or facing foreclosure, their offer may be even lower.
While Doug Hopkins doesn’t disclose details, customer reviews imply their offers fall within a similar range. For a $450,000 home, the offer could range between $225,000 and $315,000.
The current market condition, local real estate trends, and seasonal variations also impact the offer. So, job growth or project development might give you an edge. Conversely, if the conditions are not on your side, the offer can be further lowballed.
» What’s My Home’s Value: You can know your home’s market value with Houzeo’s free Home Worth Estimator. It helps you estimate the amount you will get upon sale.
Doug Hopkins Real Estate Reviews
Doug Hopkins has an impressive 4.6 out of 5-star rating on Google based on 205 reviews. However, on Yelp, they have only secured a 2.5 out of 5-star rating, based on 36 reviews.
The positive reviews of Doug Hopkins revolve around the convenience of the sale. On the other hand, their negative reviews complain about the lowball offers.
Doug Hopkins Real Estate Positive Reviews
✅ Jennifer had a great experience with Doug Hopkins Real Estate. She appreciated their agent’s professionalism, friendliness, and patience.
I really liked working with Doug’s team. We worked with Josh, and he was great. He was professional, friendly, and patient with all of our questions. They gave us an up front offer without hidden fees, and their offer was slightly higher than the other quote we got. The closing process was super easy. I highly recommend this company!
Source: Google
✅ Jazzy was happy with the services from Doug Hopkins. She found the process easy and expressed her gratitude for a hassle-free home sale.
The experience IS exactly what Doug says it is. I actually met him in person which is NOT what I expected. The process was easy, smooth and quick. I highly recommend using Doug Hopkins if you want a quick & easy process! Thank you to you and your team!
Source: Google
Doug Hopkins Real Estate Negative Reviews
❌ Laura was highly disappointed with Doug Hopkins. They gave an undervalued offer, saying the house needed heavy repairs. However, Doug was able to sell the house for a profit without any repairs.
Doug Hopkins came to our home and explained in detail what he was going to do…All of which would cost him aprox 75K because of his connections in the construction industry. He said he needed to make a profit of around $25,000. So he offered me $550,000 for a $700,000 house…Much to my surprise he listed the house as soon as we closed and sold it for $635,000 the next day.
Source: Google
❌ Jim was frustrated with the lowball offer he got. He even highlighted that the company tried to upsell their brokerage services when asked for negotiation.
Waste of time! So here was our experience. They give you a laughable low ball offer hoping you are ignorant and will jump at it. When you tell them that’s a laughable offer they say well we can get you a lot more if we get it listed with one of these great agents we work with!! They can list it for 6 percent!!! Lol they offered us 500,000 thousand and then said if we went with the agent they worked with they could get us in the mid to upper 6’s..
Source: Google
Pros and Cons
Here are the pros and cons of Doug Hopkins Real Estate:
👍 Pros
- Quick Closing: Although Doug Hopkins doesn’t guarantee the closing timeline, they close on the house on an average of 7 days. It is much faster than some of their competitors who take 2-3 weeks to close.
- Hassle-Free Process: With cash buyers like Doug Hopkins, you don’t need to repair your house. They also purchase homes that are on the brink of foreclosure. This helps you sell your home fast.
- No Financial Contingencies: Cash buyers don’t rely on loan approvals, which minimizes the uncertainties associated with the process.
👎 Cons
- Lowball Offer: Doug Hopkins Real Estate reviews suggest that in some instances, their offers fell below the standard industry practice.
- No Room For Negotiations: Many reviews of Doug Hopkins Real Estate highlight that the company doesn’t negotiate offers. Instead, some reviewers note that the company promotes their brokerage services when approached for negotiations.
- Limited Coverage: Doug Hopkins only operates in select markets of Arizona.
Doug Hopkins Real Estate Competitors
» Jump to: Doug Hopkins Real Estate vs. Houzeo | Doug Hopkins Real Estate vs. Opendoor | Doug Hopkins Real Estate vs. Express Homebuyers
1. Doug Hopkins Real Estate vs. Houzeo
Doug Hopkins Real Estate is a cash buyer company. On the other hand, Houzeo acts as a cash buyer marketplace. So, while Doug only gives you 1 non-negotiable offer, Houzeo can help you get offers from multiple cash buyers by listing on the MLS.
Top cash buyers like Opendoor and Offerpad extend offers on Houzeo’s MLS listing. So, you can get better deals. With Houzeo, you also get a chance to showcase your property to home buyers who can buy your home for 100% FMV.
| Doug Hopkins Real Estate | Houzeo | |
|---|---|---|
| Sale Price | 50% to 70% of ARV | Up to 100% of ARV |
| Customer Rating | 4.6 stars (205 reviews) | 4.9 stars (7,283 reviews) |
| Coverage | Arizona | 47 states and DC |
| Closing Timeline | 7 to 45 days | 2 to 60 days |
| Fees | ❌ | $399 |
| Closing Costs | ❌ | 1% to 3% Closing Costs |
| Scope for Negotiation | ❌ | ✅ |
| Repair Costs | ❌ | ✅ |
| Highest and Best Offer | ❌ | ✅ |
2. Doug Hopkins Real Estate vs. Opendoor
Opendoor is an iBuyer that buys houses for cash. They provide up to 80% of your home’s FMV which is better than what Doug Hopkins offers.
Like most iBuyers, Opendoor has stringent eligibility criteria for the properties they purchase. So, Opendoor will buy your home only if it’s in good condition.
3. Doug Hopkins vs. Express Homebuyers
Express Homebuyers is a cash buyer company. They offer 70% of your home’s FMV, similar to Doug Hopkins. Express Homebuyers claim to close on the house within 7 days of offer acceptance. So, they are perfect for sellers on a time crunch.
Express Homebuyers operates in 28 states. So while Doug Hopkins only caters to home sellers in Arizona, Express Homebuyers offers services to a wider clientele.
“We Buy Houses for Cash” Companies Near Me 🔎
There are other “We Buy Houses As Is” cash companies in the market. You can request an offer from multiple cash companies and pick the one that suits you the best.
Other Options You Should Consider
- Sell For Sale By Owner: For Sale By Owner websites help you list and sell a house yourself, saving thousands in agent commissions. As one-third of home buyers pay in cash, you can get 100% FMV of your house in cash by selling FSBO.
- Sell Through a Realtor: Traditional Realtors list your property on the MLS and help you at every step of home selling. However, you have to pay them 3% of the home’s sale price for this convenience.
- Sell Through Discount Realtors: Discount real estate brokers reduce their commissions to offer affordable services. Their commission varies between 0.5% and 2%.
Should You Sell to Doug Hopkins Real Estate?
Doug Hopkins offers a great way to sell your property as is. They usually wrap up transactions in 7 days, making home sales swift and effective. However, as Doug Hopkins Real Estate reviews state, their offers are below the fair market value.
If getting top dollar for your property is your priority, consider alternative ways. A smart way to get the best cash offer is to list your home on the MLS via Houzeo.
Houzeo lists your home on the MLS providing wide exposure to multiple cash buyers. You can use Houzeo’s dashboard to compare offers and request the best one. Moreover, you can also get a non-contingent cash offer from buyers with 100% FMV of your house.
» Houzeo Reviews: Check out why more than 7,000 home sellers have rated Houzeo 4.9 stars out of 5.
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Frequesntly Asked Questions
Who is Doug Hopkins?
Doug Hopkins is a licensed Realtor based in Arizona. While Doug Hopkins primarily works as a house flipper, they also provide brokerage services. Know more about Doug Hopkins Real Estate services.
Is Doug Hopkins Real Estate legit?
Yes, Doug Hopkins Real Estate is a legit company that buys homes for cash in Arizona. The company is operated by Doug Hopkins, a well-established real estate investor. Learn more about Doug Hopkins.
How to get the best cash offer?
To get the best cash offer, you should compare offers from multiple cash buyers. You can also list your property on the MLS with Houzeo and attract multiple local and national cash buyers.
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