PHOENIX, Ariz. — 2018 has been a year full of milestones, progress and success for real estate tech company, Offerpad. In the iBuyer’s third year in business, Offerpad’s achievements involved expansion, growth, and funding and it plans to build on its momentum in 2019. The on-demand home buyer and seller is proud to provide all-around, completely updated real estate solutions for consumers in growing numbers with each market launch and internal step forward.
As 2018 comes to a close, Offerpad reflects on the company’s exciting news and progress. As with Offerpad’s mission, to “provide the best way to buy and sell a home,” all the company’s changes, updates and moves forward have been about homeowners and customers with the intent of making real estate a better all-around experience for them. The company’s CEO and founder Brian Bair commented, “Offerpad is proud of the progress we’ve made over the past year. Our well-rounded success is the result of our efforts to provide consumers the best way to do real estate today. Our very positive 2018 indicates that consumers really enjoy our solutions – we achieved a 94 percent satisfaction rate from home sellers to Offerpad – which tells us we’re doing well to carry out our vision and meet their expectations.”
Among Offerpad’s early successes of 2018 was their secured $150 million of new equity and debt financing. The funding helped the on-demand home buyer purchase more houses in various cities from families wanting to sell their homes with flexibility and convenience. In 2018, it doubled its home acquisitions year-over-year as the company’s pace and popularity among consumers has begun to soar.
Shortly after the company’s fruitful round of financing, Offerpad finalized a rebranding in order to better communicate who the organization is and the solutions it provides home buyers and sellers. It also helped highlight the company’s origin story and outline its ambitions moving forward. The new brand identity included a fully redesigned logo, website and customer experience underpinned by defined, public-facing core values. As a part of the new Offerpad, leadership rearranged the executive organization of the company. Founder Brian Bair, pioneer of the real estate industry who has been recognized for innovation and performance by major industry and news organizations, was named sole CEO. Additionally, Offerpad bolstered its top-of-the-line tech experience for its website and mobile app-using customers by bringing on Gint Grabauskas as chief technology officer. Grabauskas came to Offerpad with more than 20 years of technology leadership; previous to Offerpad, he was CTO at Vixxo and VP engineering at GoDaddy. He joined chief marketing officer Darrin Shamo who worked previously at Doordash and Zappos successfully helping to expand the brands’ footprints and gross merchandise values. Shamo had been appointed CMO at Offerpad in the final weeks of 2017.
In the summer, Offerpad announced a partnership to further convenience the home seller’s transition from sold home to new one. Offerpad and Bellhops made their relationship official and, although Offerpad always provided a free local move to selling customers, it began working closely with Bellhops. Like Offerpad, Bellhops is a company focused on making the home moving experience easier and more streamlined than ever before. Developing a strategic partnership with the most on-demand moving service in the industry, which recently secured $31.4 million in funding, has brought even more convenience to Offerpad’s real estate solutions. Customers have enjoyed pairing a top-tier, on-demand buyer service with a modern moving solution facilitating not only the easiest home sale possible, but the easiest move too.
In the works for months prior, Offerpad announced in September that, as an answer to heightened customer demand, the company would expand its internal operations and move its corporate offices. Always a part of the scene in Arizona, Offerpad announced its move to the neighboring city of Chandler – home to offices of Intel and Paypal. The larger space – nearly three times larger than Offerpad’s current headquarters – will facilitate the company’s breakneck internal growth rate and allow it to serve current and future customers with even more efficiency for an even better real estate experience. Offerpad makes the move in March 2019. Shortly after this exciting announcement, the leadership team published the company’s ambitious goals through 2020. Their projection, focused on customer reach and market expansion, announced plans to become available in 2,100 cities across the country by the end of 2020 reaching an estimated 24 million home consumers, a growth of over four times Offerpad’s then current reach.
Offerpad, coming off the company milestone announcement that it had facilitated 100,000 Instant Access home visits, went to work on its expansion plans early with launches into two new metro areas. On November 1, it took its solutions to Dallas-Fort Worth and announced opening in Houston and San Antonio early in 2019. On December 3, the company spanned the Arizona Sun Corridor opening in Tucson, the state’s second largest metro area only behind the Phoenix area, where Offerpad is headquartered and first introduced its streamlined home selling and buying solutions.
Offerpad’s leaps forward in 2018 saw the company announcing exciting news about added funding, surging production run rates, rebranding, an updated user platform, modified leadership organization, new executive on boarding, a strategic partnership, customer service and tech accomplishments, a near-future move of headquarters, market launches, and expansion plans throughout the country. With so many achievements reached in 2018, Offerpad looks forward to making even bigger waves in 2019. The company currently has work underway in preparation for opening new markets in the first quarter of the year as well as undisclosed plans to launch into many more metro areas throughout 2019 as Offerpad continues to prove that it is the best way for consumers to buy and sell a home.