Offerpad, along with others in this revolutionary space of real estate, is often referred to as an “iBuyer”. So, what really is an iBuyer and how does a home seller determine the best one for their situation? By definition, iBuyers are categorized as investors that use automated valuation models (AVMs) and other technology to make quick offers on homes, close in days and then resell them.
Today, our company operates in 800+ major cities throughout the country. On average, Offerpad receives new offer requests from homeowners every 30 seconds and acquires a home every 20 minutes throughout regular business hours. We’ve been recognized for our award-winning customer service many times over—we’re still gushing about it, quite frankly. We use owned-technology, along with decades of real estate human-experience so we can offer you the max amount of money possible in your transaction.
At Offerpad, we want to alleviate the unknown for the home seller and home buyer. The advantage of knowing within 24 hours what your personalized offer is of your home, provides an immediate sense of empowerment. You are in control starting day one—our team is here to guide you through the selling journey every step of the way. Do you need to close in 15 days to not miss out on another home? 87 days to relocate to another state? Offerpad will work to ensure you are empowered when selling your home, one of the most important assets of your life.
We’re on a mission to provide the best way to buy or sell a home. Period.
A different business model
The disruption in the real estate industry has created new options for consumers; however, this also poses questions and can often be misinterpreted as an investment company that’s going to fix and flip homes; the truth is our business model is the exact opposite.
Whereas flippers are driven by short-term profits, Offerpad is focused on changing the long-term consumer experience in real estate—the success we’ve experienced is our progressive buying and selling services have been a complete game changer for thousands of people around the country. Many flippers seek out older homes that may require significant repairs to increase their profit margins—at Offerpad, we look to buy quality homes built within a more recent timeline. Finally, whereas flippers make updates to virtually every investment property, we’re more selective—Offerpad gives home buyers the ability to customize key areas of the home via Offerpad Renovation in select markets.
Offerpad: ‘iBuyer’ was just the beginning
A focal point of our business is subverting expectations—surprising (and delighting!) people over the course of purchasing or selling their home. As part of that underlying initiative, we need to push boundaries with our service offerings. Today, Offerpad is much more than just an ‘iBuyer’—our latest innovations are changing what’s possible in real estate altogether.
Homebuilder Alliance Program
Our Homebuilder Alliance Program makes it easier for people to purchase a new construction home and sell their existing property. For existing homeowners, it’s a convenient way to put them in their dream home—spare them the hassle of overlapping mortgages or waiting around for their home to sell. Sellers love having the freedom to choose their own flexible closing dates—up to 270 days (with five additional through Offerpad’s Extended Stay!), giving them time to complete new build construction. With Offerpad Home Trade-In, we give homeowners the ability to bundle and save when purchasing their next home from Offerpad.
Recent data indicates buyers needed to wait 43 days on average to close on a home—Offerpad’s Buyer Boost was designed to dramatically shorten standard waiting times. This innovative solution gives motivated buyers the ability to move into an Offerpad home in as few as 24 hours and close within a matter of days. Let’s say you tour an Offerpad home on Monday and ultimately decide to buy it Tuesday—with Instant Own, you can move in as soon as Wednesday. No more accommodating the seller’s timeline—this is buying on your own schedule.
Another way we’re shaking things up is by making it easier for Offerpad buyers to secure their dream home in less time. With Buyer Boost, Offerpad extends its financing power to purchase the property on behalf of the buyer in the form of a cash offer. This convenient option helps eliminate common buyer issues including contingent offers, multiple moves, or the financial burden of overlapping mortgages. It’s a total game changer.
iBuyer? That was just the beginning of our story—wait until you see what’s next.
A human touch in the digital age
Building credibility in a longstanding industry is no simple task but Offerpad’s consumer-centric solutions helped blaze new trails in real estate. Identifying many unmet needs on the part of buyers and sellers, we ultimately engineered a better approach to doing things—an approach that gave consumers more freedom and flexibility than ever before. Our technology may have changed the dynamic of real estate, but this is still a business of people—our firsthand person-to-person experience gave root to our initial service offerings and they continue to guide our way forward.
“We understand the home buyer and seller better than anyone in the industry. The stresses and friction points that people endure during this transaction, can easily become a nightmare. Offerpad has launched new features to create an end-to-end seamless experience. Wait until you see what we have in the works!” – Brian Bair, Offerpad CEO.