Offerpad Brings New Solutions to Residential Real Estate in Sacramento

Rhea-AI Summary

Offerpad (NYSE:OPAD) expands its residential real estate services into the Sacramento metropolitan area, now available in over 50 cities. The company aims to empower buyers and sellers with 24-hour cash offers, flexible closing options, and Bundle Rewards. Homeowners can enjoy benefits like cash proceeds the next business day after closing, no open houses, and free local moves. This expansion follows recent openings in Riverside and San Bernardino, bringing Offerpad's innovative solutions to over 1,700 U.S. cities.

Positive

• Expansion into Sacramento enhances service availability for clients.
• Offerpad provides unique features like 24-hour cash offers, flexible closing dates, and Bundle Rewards.
• Helps sellers become competitive buyers in a limited inventory market.

Negative

• None.

Company aims to help empower sellers and buyers to be more competitive in today’s market with options like cash offers, flexible closing dates and more with launch in the Golden State’s Capital

CHANDLER, Ariz.--(BUSINESS WIRE)-- Offerpad (NYSE:OPAD), a leading tech-enabled platform for residential real estate, today announced its expansion into the Sacramento metropolitan area. Now available in more than 50 surrounding cities and towns, Offerpad brings certainty and flexibility to compete in the market with 24-hour cash offers, custom listing solutions, flexible closing dates and Offerpad’s Bundle Rewards.

Offerpad today announced its expansion into the Sacramento metropolitan area. Now available in more than 50 surrounding cities and towns, Offerpad brings certainty and flexibility to compete in the market with 24-hour cash offers, custom listing solutions, flexible closing dates and Offerpad’s Bundle Rewards. (Graphic: Business Wire)

“Offerpad’s goal is to eliminate a lot of the stress from buying and selling to create an all-new experience for homeowners,” said Brian Bair, Offerpad’s Chairman and CEO. “We are replacing the obstacles of traditional real estate with modern features that empower our customers. Today, homeowners want convenience, certainty, and control in everything they do – and that doesn’t stop with real estate. Offerpad is built to meet these demands and exceed expectations everywhere we operate.”

Offerpad Offers Competitive Advantage to Home Sellers and Buyers in Today’s Market

In California and many other markets around the country, home buyers are faced with a new level of competition in an environment where inventory is limited. Homeowners who sell to Offerpad may experience many advantages, including:

• Cash offer on their home within 24 hours of request
• No need for open houses, cleaning, repairs or getting their home “show-ready”
• Freedom to select their closing date and flexibility to change it as needed
• Free extended stay in their sold home for up to three days
• Cash proceeds from the sale in hand no later than the next business day after closing
• Free local move*

Offerpad can help sellers to become more competitive buyers in today’s market where inventory is limited and homes sell quickly. With a cash offer on their existing home, homeowners can feel more confident in their ability to make their next purchase. By providing sellers with flexible closing dates, Offerpad can help remove the need to move twice or juggle two mortgages.

Cash offer not for you? No problem, Offerpad has your back

If the company’s cash offer option, Offerpad EXPRESS, is not a fit for a homeowner’s needs, sellers can opt to sell their home with Offerpad FLEX. Offerpad can help sell a home on the open market with a custom listing powered by its full-service marketing efforts, dedicated real estate experts, and complimentary concierge services, such as cleaning, to prepare the home for sale. The company also provides options for advances on home improvements and renovations. FLEX listings also offer a backup cash offer to give sellers peace of mind.

In a market where every day matters, buyers and sellers can also save time and money with additional Offerpad solutions: Offerpad homes for sale at buy.offerpad.com, and discounts of up to thousands with Offerpad Bundle Rewards when using multiple Offerpad services.

Local Expertise in Sacramento

Offerpad’s new availability in the Sacramento market reaches six counties – El Dorado, Placer, Sacramento, Solano, Sutter and Yolo. To stay current with trends and changes, Offerpad has assembled a dedicated local team with expertise to better meet the unique needs of area residents.

Sacramento General Manager, Matt McGill – founder of two real estate companies and an experienced individual producer and manager of agents in the area – now leads Offerpad’s local operations with his team of directors and local support staff. “Real estate is inherently complicated and today's market can be especially challenging for both sellers and buyers,” said McGill. “Against unprecedented market conditions and competition, Offerpad’s new solutions in the area can really give residents an advantage.”

Following the company’s expansion into Sacramento as well as Riverside and San Bernardino in February, Offerpad’s innovative real estate solutions are now available in over 1,700 U.S. cities and towns.

About Offerpad

Offerpad’s mission is to provide your best way to buy and sell a home. Period. We use technology-enabled solutions to remake the home selling and buying experience by offering customers the convenience, control and certainty to solve their housing needs. We combine our fundamental real estate expertise with our data-driven digital “Solutions Center” platform to give users a holistic, customer-centric experience, enabling them to efficiently sell and buy their homes online with streamlined access to other services including mortgage, listing and buyer representation services. Visit Offerpad.com for more information.

Forward Looking Statements

Certain statements in this press release may be considered forward-looking statements. Forward-looking statements generally relate to future events or Offerpad’s future financial or operating performance. For example, statements regarding Offerpad’s market expansion plans, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “pro forma,” “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Offerpad and its management, are inherently uncertain. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Offerpad does not undertake any duty to update these forward-looking statements.

*Offerpad pays local moving company directly for up to 50 miles, 2,800 sq. ft. home and max of 13,000 pounds. You are responsible for any additional moving costs agreed on prior to move. Learn more here.

Eligibility and prices vary. Real estate brokerage services provided by Offerpad Brokerages.

Terms and conditions apply. To learn more, speak to your Offerpad representative or visit www.offerpad.com/terms-of-use.

One or more employees of Offerpad or its affiliates are licensed real estate agents, salespeople, or brokers in Alabama, Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Missouri, Nevada, North Carolina, Ohio, South Carolina, Tennessee, and Texas. Offerpad Brokerage CA, Inc. and Offerpad Brokerage FL, LLC hold real estate brokerage licenses in multiple States. Visit here for a list of our real estate broker licenses. Bundling and saving services are not available in Alabama, Arkansas, Missouri, and Tennessee.

TREC Info: Brokerage Services | Consumer Protection Notice
Offerpad Brokerage CA Inc.
Real Estate broker, California Department of Real Estate
California DRE #2087915
© Offerpad 2022

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220301005391/en/

David Stephan

David.stephan@offerpad.com

Source: Offerpad

FAQ

What new services has Offerpad launched in Sacramento?

Offerpad has introduced 24-hour cash offers, flexible closing dates, and Bundle Rewards in the Sacramento metropolitan area.

How many cities does Offerpad now operate in?

Offerpad's services are now available in over 1,700 U.S. cities, following its expansion into Sacramento.

What are the benefits of selling with Offerpad?

Benefits include cash offers within 24 hours, no need for open houses, and cash proceeds available the next business day after closing.

Is Offerpad's expansion expected to impact stock price?

Offerpad's expansion into new markets could enhance revenue potential and investor sentiment, impacting stock price positively.

What is the stock symbol for Offerpad?

The stock symbol for Offerpad is OPAD.