Offerpad Brings Tech-enabled Home Selling and Buying to Kansas City and St. Louis

Rhea-AI Summary

Offerpad (NYSE:OPAD) has expanded its operations to include Kansas City and St. Louis, marking a pivotal growth in its real estate solutions platform. Now servicing 20 markets across nearly 1,500 cities, Offerpad enhances home buying and selling experiences with features like the cash offer within 24 hours and personalized open-market listings. The company aims to revolutionize real estate transactions, facilitating easier processes for buyers and sellers. With a focus on local expertise, Offerpad invites partnerships with agents and home builders to enhance service delivery.

Positive

• Expansion to Kansas City and St. Louis adds to Offerpad's footprint, now in 20 markets.
• Increased market presence can lead to higher transaction volumes and revenues.
• Innovative offerings like cash sales in 24 hours enhance customer appeal.
• Partnerships with local agents and builders can drive additional business growth.

Negative

• None.

Sellers can become competitive buyers with a 24-hour cash sale or a custom open-market listing

CHANDLER, Ariz.--(BUSINESS WIRE)-- Kansas City and St. Louis, Missouri are the newest available markets for Offerpad (NYSE:OPAD), a leading tech-enabled platform for buying and selling residential real estate. Offerpad’s Real Estate Solutions Center is now available in 20 markets and nearly 1,500 cities and towns nationwide following today’s launch of its two new Midwest markets.

Kansas City and St. Louis, Missouri are the newest available markets for Offerpad (NYSE:OPAD), a leading tech-enabled platform for buying and selling residential real estate. Offerpad’s Real Estate Solutions Center is now available in 20 markets and nearly 1,500 cities and towns nationwide following today’s launch of its two new Midwest markets. (Graphic: Business Wire)

“Kansas City and St. Louis mark our first entry into new markets as a publicly traded company that is transforming the way people buy and sell homes,” said Brian Bair, Offerpad’s CEO and Chairman. “With each new market, we provide more buyers and sellers with an easier, more convenient on-demand real estate experience that puts them in control. With the dedicated efforts of our Kansas City and St. Louis general managers and their teams of local experts, we look forward to making an impact in the real estate ecosystems in our two new markets.”

The company’s Kansas City operations are run by General Manager Brian O’Banion who brings 15 years of real estate experience to Offerpad's new market. “Offerpad brings something very unique to our neighbors here – in today’s highly competitive real estate environment, and always,” said O’Banion. “We empower people to buy and sell homes with unprecedented freedom, convenience and control.”

Through its exclusive online Real Estate Solutions Center at offerpad.com, Offerpad provides home buyers and sellers with multiple options for relieving the headaches and stress commonly experienced with typical real estate transactions.

• Using Offerpad EXPRESS, the company’s flagship iBuying solution, homeowners can receive a certain cash offer within 24 hours and choose their own closing date with no inconvenient home showings or open houses and a free local move to their next home.
• With Offerpad FLEX listing services, sellers can maximize the value of their home by testing the open market with access to the company’s national marketing resources, a dedicated local real estate expert and free concierge services – all with the certainty of a backup cash offer in their pocket.
• Buying a home with Offerpad is easy, too, working with a dedicated Offerpad Solutions Expert and an extensive inventory of homes in each of its markets, as well as mortgages and financing available through Offerpad Home Loans for a one-stop home purchasing solution.
• When selling and buying together, people can save thousands by bundling the real estate services they need with Offerpad Bundle Rewards.

Offerpad’s St. Louis market General Manager Brian Routt, a 20-year veteran in the real estate industry looks forward to appealing to consumers as well as industry professionals in the area. “The St. Louis market is a perfect fit for Offerpad’s Real Estate Solutions Center and the products and services we provide. In addition, through partnerships and collaboration with local real estate professionals such as agents, home builders and renovation contractors, we’re creating new, highly beneficial, and impactful business opportunities to give St. Louisans even better home buying and selling experiences,” said Routt.

Through Offerpad’s Agent Partnership Program in St. Louis and Kansas City, real estate agents can earn an industry-high 3% referral fee when they help clients with an Offerpad EXPRESS cash sale. Offerpad then works with local vendors to quickly prepare and return homes it purchases to the local inventory for new buyers. Area home builders can assist their new-home buyers through Offerpad’s Homebuilder Services program by removing the need or contingency to sell an existing home before purchasing a new-construction home.

As announced previously, Offerpad expects to round out its 2021 market expansion with the upcoming opening of its fourth Midwest market in Columbus, Ohio. The company debuted in the Midwest with the launch of Indianapolis, Indiana in July 2021. For a complete list of available Offerpad markets around the country, visit offerpad.com/locations.

About Offerpad

Offerpad’s mission is to provide the 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.

#OPAD_Expansion

View source version on businesswire.com: https://www.businesswire.com/news/home/20210920005354/en/

Media Contact:

David Stephan

David.stephan@offerpad.com

Source: Offerpad

FAQ

What recent markets has Offerpad (OPAD) expanded into?

Offerpad recently expanded into Kansas City and St. Louis.

How many markets does Offerpad serve after the latest expansion?

Offerpad now serves 20 markets nationwide.

What services does Offerpad provide to home buyers and sellers?

Offerpad offers cash sales, open-market listings, and various real estate solutions.

What is Offerpad's website for more information?

More information can be found at offerpad.com.

What innovative service does Offerpad offer for sellers?

Offerpad provides cash offers within 24 hours through its EXPRESS service.