Offerpad Increases Investment in Florida with Expansion into Fort Myers

Rhea-AI Summary

Offerpad (NYSE: OPAD) expands its real estate offerings to over 200 cities and towns in Florida, including Fort Myers, enhancing customer-centric solutions for buyers and sellers. The platform offers competitive 24-hour cash offers, flexible listing options, and assistance with home prep, including cleaning and repairs. Homeowners can also benefit from free local moves and free extended stay options. As part of its growth strategy, Offerpad plans further market expansion in the Midwest, Southeast, and Southwest later this year, reinforcing its commitment to simplifying real estate transactions.

Positive

• Expansion into over 200 cities and towns in Florida, including Fort Myers.
• Offers competitive 24-hour cash offers for homeowners.
• Provides services including free local moves and home prep assistance.
• Plans for market growth in the Midwest, Southeast, and Southwest.

Negative

• None.

The company’s real estate solutions are now available in more than 200 cities and towns throughout The Sunshine State

CHANDLER, Ariz.--(BUSINESS WIRE)-- Offerpad (NYSE: OPAD), a leading tech-enabled platform for buying and selling residential real estate, today announced it is now available in more than 200 cities and towns in Florida with the launch of its newest market, Fort Myers. From competitive 24-hour cash offers and flexible listing options to mortgages and buyer services¹, Offerpad now offers residents in the area a full suite of customer-centric solutions to help current and prospective homeowners navigate today’s housing market.

Offerpad, founded by a team of the country’s top real estate professionals, is on a mission to free people from real estate burdens by bringing together the power of its proprietary technology with local market expertise to make transactions simpler and less stressful.

“Residential real estate can often feel overwhelming and the process daunting for homeowners. Today’s market isn’t making it any easier,” explains Offerpad Chief Real Estate Officer Vaughn Bair, a 20-year real estate veteran. “Offerpad is changing all that. We put homeowners in control and let their needs and timeline drive the transaction. Florida continues to be a vibrant and thriving housing market, and we’re excited about this investment to empower more homeowners to buy or sell on their own terms.”

When asked about preparing their homes for sale, more than half of the survey respondents said they spent more time and 75 percent admitted they spent more money than they wanted or expected². To help ease the home prep stress, Offerpad takes care of cleaning, yardwork, updates and repairs, and even provides free local moves for homeowners who sell with them³.

To further simplify home buying and selling, Offerpad offers other customer-focused benefits, including:

• Competitive cash offers within 24 hours of request
• Freedom to select closing date and flexibility to change it as needed
• Free extended stay options so sellers may remain in their current home for up to three days after Offerpad buys it
• Discounts when bundling their buying, selling and financing services⁴

For those concerned with rising interest rates, buyers using Offerpad Home Loans can lock in interest rates for up to 90 days while they shop for a home.

Hello to Naples, Cape Coral, Lehigh Acres and more

Offerpad’s real estate solutions are now available in nearly 70 zip codes in the Fort Myers area including Naples, Cape Coral, Lehigh Acres and more. Sellers can visit Offerpad.com today to submit a free cash offer request or talk to a local real estate expert about selling their home on the open market.

For the remainder of 2022, Offerpad will focus on growing its footprint around regional hubs in the Midwest, Southeast and Southwest. Offerpad recently revealed expansion plans that will bring the company’s solutions to residents in Cincinnati, Ohio, Colorado Springs and Fort Collins, Colo., and Fort Wayne, Ind. later this year.

¹ Eligibility and prices vary. Real estate brokerage services provided by Offerpad Brokerage, LLC, Offerpad Brokerage CA, Inc., and Offerpad Brokerage, FL, LLC. Terms and conditions apply. To learn more, speak to your Offerpad representative or visit https://www.offerpad.com/terms-of-use/.

Offerpad Brokerage, LLC holds real estate brokerage licenses in multiple states. Click here for a list of our real estate broker licenses held by Offerpad Brokerage, LLC, Offerpad Brokerage CA, Inc., and Offerpad Brokerage FL, LLC.

TREC Info: Brokerage Services / Consumer Protection Notice
Offerpad Brokerage CA, Inc.: Real estate broker, California Department of Real Estate

California DRE #2087915

² This online survey of 2,000 American survey respondents who have sold a house was commissioned by Offerpad and conducted by market research company OnePoll.

³ Terms and conditions apply. Offerpad contracts with and pays local moving company directly for up to 50 miles, 2,800 sq. ft. home and max of 13,000 pounds. If your home is larger or your possessions exceed the weight limit, you will be responsible for the difference in cost and be billed directly by the moving company. Learn more here https://www.offerpad.com/move-for-free/.

⁴ Offerpad Bundle Rewards are delivered as buyer commission rebates, lender credits, reduced Express Service Fee, or seller credits. Offerpad Bundle Rewards are not available for solutions purchased under Offerpad’s Agent Partnership Program or Home Builder Partnership Program. Additionally, Offerpad Bundle Rewards cannot be combined with any other Offerpad discount, credit, or seller/buyer concession. All components of a bundle (sell transaction, buy transaction and home loan) must be completed within a 6-month time frame to qualify as being part of a bundle. Offerpad Bundle Rewards is not available in Alabama, Kansas, Missouri and Tennessee. Terms and conditions apply. Rewards, savings and discounts vary and may not be available in all states or situations. Speak with an Offerpad Solutions Advisor or Solutions Expert for details. Subject to terms and conditions available at https://www.offerpad.com/sell-and-buy.

About Offerpad

Offerpad’s mission is to deliver your best way to buy and sell a home so you can spend less time ‘real estat-ing’ and more time living. From cash offers and flexible listing options to mortgages and buyer services, Offerpad has been helping homeowners since 2015. We pair our local expertise in residential real estate with proprietary technology to put you in control of the process and help find the right solution that fits your needs. 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.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220621005418/en/

Laura Collins

Press@Offerpad.com

(480) 220 - 0021

Source: Offerpad

FAQ

What recent expansion has Offerpad announced for Florida?

Offerpad has expanded its real estate services to over 200 cities and towns in Florida, including Fort Myers.

What services does Offerpad offer to homeowners in Florida?

Offerpad offers competitive 24-hour cash offers, flexible listing options, home prep assistance, and free local moves.

What are Offerpad's future plans for market expansion?

Offerpad plans to continue expanding its footprint in the Midwest, Southeast, and Southwest throughout 2022.

What is the stock symbol for Offerpad?

Offerpad is listed under the stock symbol OPAD.