2020 was a big year for Offerpad. Despite unpredictable market shifts, we enjoyed lots of both internal and external growth while, like many businesses and entire industries, dialing up the already-remote online access to our super-convenient home selling and buying processes to meet the real-time changing needs of our customers.
Early Market Expansions
Building on expansion and growth experienced in 2019, we made even more advancements as we kicked off the new year with moves into new service territories in Birmingham, Alabama, and Jacksonville, Florida. We also celebrated first anniversaries serving home sellers and buyers in Houston, Texas, and Raleigh, North Carolina that month.
Managing through the Pandemic
When the COVID pandemic hit in March, being a real estate technology company, we were able to pivot and adjust rapidly – and remotely – to the challenges it presented. Working swiftly to create our own “new normal,” Offerpad took precautionary measures to help protect our employees, third-party partners and customers. We sought out health and safety certification from HealthyVerify and began running all operations with newly heightened safety protocols layered on top of our already remote and virtual processes in place to help customers buy and sell a home. We enhanced and built out those processes further, making our virtual 3D home tours even more accessible and streamlining processes for no-touch closings. While still providing that much-valued “human touch” to helping customers through their home buying and selling journey, we’ve utilized advanced technology to nearly eliminate the need for any in-person activity in the process of buying or selling with Offerpad, making transactions even safer and more convenient for customers.
Offerpad Real Estate Solutions Center, with a flexible home listing option
Big news in June! HUGE! We announced our Real Estate Solutions Center, giving customers even more options for selling their home. In addition to our near-instant cash offers, you can decide to partner with Offerpad and list your home with us instead. This was a huge step in our evolution toward becoming a one-stop, holistic solutions provider for all your real estate needs.
Our new home listings service is not a traditional home listing. It provides sellers with benefits and features to help them flex their maximizing muscle and hit the market with as strong a listing as possible. Listing with Offerpad enables you to work with one of our own licensed real estate agents who will help you explore all of your options to maximize your home’s value. A complete “back-office” team of real estate experts work with you, too, to help you through each step in the process. Listing with Offerpad provides customers with the same freedom, flexibility, convenience and certainty as our core cash offers, with the added benefits of home improvement advances; Offerpad’s real estate marketing power; free, in-home concierge services; and a back-up cash offer you can decide to use instead if your needs change.
Bigger, Stronger Homebuilder Partnerships
Last year, we also bolstered our Homebuilder Alliance program, adding more partners and our new home listing solution to the mix. Over the last several years, Offerpad has continued to build its national partnership program with new-home builders including Eastwood Homes, Maronda Homes, Meritage Homes, and many others. Through these partnerships, builders can offer their homebuyers Offerpad’s direct sale and listing solutions when purchasing a new build. Both buyers and builders benefit from our selling solutions, because they eliminate one of the biggest hurdles in buying new – the contingency of selling an existing home.
Another big win for Offerpad last year was a new partnership with global and domestic relocation solutions and mobility program management organization Aires. This unique collaboration incorporates Offerpad’s suite of real estate solutions, including cash offers within 24 hours and Offerpad’s home listing option, to corporate and other relocation packages. Offerpad’s solutions became available to Aires’ clients and transferees in October.
2020 also saw several additions to Offerpad’s C-suite, where we brought on new top executives to contribute to all the great new things Offerpad is taking on now and in the future. In 2020, we welcomed new Chief Growth Officer, David Connelly; new Chief Legal Officer, Ben Aronovitch; and new Chief Operating Officer Steve Johnson. We also added to the newly built-out Offerpad product team with a new Senior Vice President, two Vice Presidents and a Director, in addition to many, many more new hires across departments throughout the company.
Offerpad Arizona Bowl
Offerpad wrapped up the year as the new title sponsor of the college Bowl Season’s 2020 Arizona Bowl! The 2020 Offerpad Arizona Bowl allowed us to support our Tucson neighbors and collegiate athletics in this charity-focused New Year’s Eve college football “Clash of Champions.” As everything did, the game had a different look this year than in the past, but Offerpad was thrilled to provide support and keep the tradition going.
New year, new markets, new plans
We ended 2020 coming full circle, with the announcement last month of our plans for more new expansions into the Denver, Colorado, and Nashville, Tennessee markets early this year, so stay tuned for more details coming soon!
Even through a year different than expected, Offerpad had plenty to be excited about. And, as always, we look forward to great new things in the year ahead as we continue to stretch and build the iBuyer business and flex our muscle with the development of new and even more beneficial solutions to home sellers and buyers everywhere.
Thank you to all our customers for a great 2020! Bring it on, 2021! If your resolution this year is to buy or sell a home, we’re ready to help!