It’s officially 2020, folks.
The dawn of a New Year is an ample opportunity for a little self-reflection. It’s hard to believe we only started transforming real estate with our modern buying and selling solutions back in 2015!
Considering how much can change in a relatively short period of time, we naturally found ourselves considering how much the world of real estate has changed since its early days. In order to get the best sense of where an industry is heading, sometimes it’s best to look to the past.
We’re throwing it back—way back. Buckle up for a little field trip.
An All-too-brief History of Real Estate
For as long as people have assigned value to a location, real estate has been around in some form. Our hunter-gatherer ancestors prized fertile lands—places where plants, animals, and fresh water could be found in abundance. Lacking diplomacy, territory was won and lost solely at the hands of brute strength.
But then things changed. People gathered into tribes to survive, their tribes evolving into settlements—those settlements later developed into entire kingdoms! In a formal sense, real estate really picked up steam in the feudal period—the era when knights and nobles were a thing.
During the heyday of lords and ladies, ‘owning your own place’ was hardly a simple matter of meeting up with a friendly real estate agent—you generally needed to know the king. Royalty often divvied out land among friends and family to consolidate power. There was no free and open market and you might be denied land just because somebody sitting on a golden chair didn’t fancy the cut of your jib.
Let’s fast forward a bit—all the way to the Industrial Revolution that occurred between the late 1700s and early 1800s. As industry developed, people had more free time—with manual labor no longer in high-demand, peasants were suddenly freed to pursue other trades; as a result, those from society’s lower-class had the ability to move up. You didn’t need to rub elbows with the king just to afford housing.
The Dawn of Mortgages
So, when did this whole ‘mortgage’ thing enter the picture? While mortgages are about as common as cars on the road these days—believe it or not—this type of loan was once exclusive to nobility. But—as your history teacher will surely tell you (in perhaps too much detail)—the Industrial Revolution really changed things. Most notably, the wealth of the world increased—suddenly banks were in position to take on more risk, i.e. offer mortgages to non-nobility. More opportunity for everyone? That’s a beautiful thing.
Let’s jump forward in time again. The year is 2015 and a galvanized startup called ‘Offerpad’ is officially open for business. The founders have seen the shortcomings of real estate firsthand and are determined to do something about it—their mission: provide the best way to buy and sell a home. Period.
Now operating across 700 major cities throughout the country (and counting!), we’re delivering on our original ambition. With Offerpad, you have a more convenient way to buy or sell your home. We offer modern benefits like competitive cash offers, flexible close dates, and no home showings. The innovative technology we’ve developed in-house ensures our best is yet to come!
Real Estate in 2020
Where is real estate headed in 2020 and beyond? Consider thousands of years of real estate history and you’ll find the biggest driver for change (see also: improvement) is technology. That’s something we embrace at Offerpad—our entire business is designed to harness the power of tech to make buying and selling easy. Thousands of happy homeowners can’t be wrong—experience the difference for yourself!
You don’t need to be royalty to get a great deal with Offerpad. Thinking about buying or selling your home? We’ve got you covered. See our available proprties online at Offerpad.com or request a free cash offer on your existing home today!