This year has been another great one for us and our customers around the country. Our goal is always to provide the best way for people to buy and sell a home. With that in mind, we are proud to have achieved so much in 2018 that is benefiting all those Offerpad home sellers and buyers. It’s sometimes hard to believe that 2018 was just our third year in business. We have come such a long way since getting started in 2015 and we’ve had the pleasure of providing great real estate solutions to so many people in this short time. We’ve expanded to new cities, we’ve made our free local move even better, we’ve hired great people and so much more all to help families move freely.
Offerpad secures financial backing
One of Offerpad’s early successes of 2018 was receiving $150 million in financing that helped us purchase more homes in our now 9 market locations from those looking to sell their home with awesome convenience. We really noticed that our real estate solutions had taken flight this year as our data showed that we doubled our volume in transactions over last year and we tripled our overall growth since opening for business in 2015. Additionally, in 2018, we doubled our year-over-year home acquisitions. All the while, we are happy to have earned a 94% satisfaction rating from our home-selling customers.
New Offerpad, new leadership
As summer got under way, Offerpad finalized a rebranding that better communicates who we are and the solutions we provide our customers. It also helped highlight our origin story and ambitions. Our new brand roll-out included a fully redesigned logo, a fresh new website, and customer experience held up by our defined and publicized core values. As a part of the new Offerpad and to better serve our customers, our leadership team has changed up parts of company’s organization. Founder Brian Bair was named sole CEO and Gint Grabauskas joined as Offerpad’s chief technology officer to beef up our tech experience for our website and app-using customers. Gint joined our new chief marketing officer, Darrin Shamo, who had come from Doordash and Zappos in San Francisco and was appointed CMO here in the last few weeks of 2017.
Offerpad partners with Bellhops
Also in the summer, we announced our partnership with modern moving startup, Bellhops to make moving an even easier process for home sellers who choose Offerpad. Although our partnership with Bellhops was new, it was just an upgrade of our already-existing free local move as we began working closer with Bellhops. Customers have enjoyed pairing a top-tier on-demand buyer service with Bellhops’ excellent, new moving capabilities to facilitate not only the smoothest home sale possible, but the most convenient move too.
Offerpad announces HQ move and market growth
Offerpad announced in September that in order to serve our fast-growing customer base we would move our corporate offices. We announced our move to neighboring city, Chandler right here in Arizona. The new space – nearly three times larger than our current headquarters – will facilitate our explosive growth rate and allow us to serve current and future customers with even more efficiency. We make our move in March, just 2 months away! Following this announcement, Offerpad leadership published some ambitious goals that will guide us through 2020. The projection, focused on giving customers the best experience possible, announced plans to become available in 2,100 cities across the country by the end of 2020 reaching an estimated 24 million home consumers. When we hit this goal, we will have grown over four times in size and reach compared to when that announcement was made.
Offerpad opens two new metros
We’re also proud to have hit another great milestone: this year we reached 100,000 Instant Access home visits. With such great momentum, we got to work on our expansion plans early launching into two new metro areas. On November 1, we opened in Dallas-Fort Worth and announced Houston and San Antonio availability in early 2019. On December 3, we expanded across the Arizona Sun Corridor opening in Tucson, our state’s second biggest metro area only behind our home metro of Phoenix, where Offerpad made its debut in 2015.
In Offerpad’s excellent 2018, we announced exciting news about additional funding, increased production, cool rebranding, an updated web and mobile platform, a modified leadership strategy, hiring new executives, a strategic partnership with Bellhops, customer service and tech accomplishments, the announcement of our new headquarters, two market launches, and lots of expansion planning throughout the country. After such a great year, Offerpad is excited to do even more to improve our home selling, buying, and moving solutions in 2019. We’ve already gotten started preparing to open new markets in the first quarter of the year and we have big plans to make our services available in so many more cities in new metros in the following months.