Offerpad to Expand Into Five New Markets This Year, Bringing Its Convenient Home Buying and Selling Solutions to More Homeowners Across the Country
May 04 2022 - 4:20PM
Business Wire
Cincinnati expected to launch later in 2022,
with more expansion planned around regional hubs in the Midwest,
Southeast and Southwest
Offerpad (NYSE:OPAD), a leading tech-enabled platform for buying
and selling residential real estate, revealed expansion plans today
that will bring the company’s top-rated1 solutions to residents in
Cincinnati; Colorado Springs and Fort Collins, Colo.; Fort Myers,
Fla.; and Fort Wayne, Ind. Today’s expansion news comes on the
heels of continued momentum with the company’s best quarter in
Offerpad history. Earlier today the company reported first-quarter
financial results announcing a year-over-year $1.1 billion revenue
increase.
“At Offerpad, we do things differently. Bringing together
technology with our local real estate expertise, we take buying and
selling homes from stressful to seamless,” said Offerpad Chief Real
Estate Officer Vaughn Bair. “Traditional real estate, especially in
today’s competitive market, often leaves homeowners feeling out of
control and uncertain. Our solutions provide buyers and sellers
with the flexibility to act fast and take care of all their needs
under one roof. Americans increasingly want more convenience and
control over their transactions, and we’re excited to help more
homeowners in these new markets.”
Offerpad is expected to complete its Fort Myers opening in the
second quarter and plans to expand to Cincinnati and the additional
three markets later this year. When these five markets open, buyers
and sellers across 29 U.S. markets will have access to the
company’s entire suite of solutions:
- Cash offers in just 24 hours with flexible closing dates, no
showings or open houses, and free local moving services
- Custom listing solutions and dedicated local market expertise
to help customers sell their home on the open market with the
option to retain a cash offer as back up
- Home buying solutions that provide easy access to Offerpad’s
inventory of homes for sale
- Access to home mortgage and title services
- Bundling selling, buying and financing solutions together to
save thousands with Offerpad Bundle Rewards
Today, Offerpad is available in more than 1,700 cities and towns
and 24 U.S. markets. For the remainder of 2022, Offerpad will focus
on growing its footprint around regional hubs in the Midwest,
Southeast and Southwest. To see a full list of the cities and towns
where Offerpad is available, visit Offerpad.com/locations.
Offerpad plans to begin hiring local real estate experts across
all its new markets. Additionally, Offerpad plans to hire local
home renovation vendors and develop partnerships with area
homebuilders, real estate brokerages and agents. Offerpad currently
offers a 3% referral fee to real estate agents who help a client
sell to Offerpad.
About Offerpad
Offerpad’s mission is to deliver the best home buying and
selling experience 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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Laura Collins Laura.Collins@Offerpad.com (480) 220 - 0021
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