Offerpad debuts home-listing service

Clients can use startup’s concierge arm to prep homes for market

National /
Jun.June 01, 2020 03:30 PM
Offerpad CEO Brian Bair (Credit: iStock; Offerpad)

Offerpad CEO Brian Bair (Credit: iStock; Offerpad)

Offerpad on Monday launched a real estate solutions division that lets clients list their homes for sale with Offerpad employees and use its concierge services to get those homes ready for market, Inman reported.

The process begins with a seller providing details on the home and uploading recent pictures of it or scheduling a virtual tour, according to Redfin. Offerpad’s real estate experts and platform then evaluate the property and give the owner a cash offer within 24 hours.

The seller can either accept this or work with Offerpad to list the home, in which case the tech company would essentially work as the listing agent. If the seller decides to list with Offerpad, it can still decide to accept the initial cash offer at any time.

The listing fee will be between 5.5 percent and 6 percent, and Offerpad will provide a free home preparation service to get the properties ready for showings. This includes carpet and house cleaning, landscaping work and handyman services. Offerpad will front homeowners money for renovations as well.

Offerpad has been working on its initiative to offer listing services for months, although the pandemic forced the company to suspend its homebuying operations for a time. They resumed last month.

It will continue a partnership in which Keller Williams steers sellers looking for all-cash offers to Offerpad, which then enlist Keller agents to market the properties.

The move could raise concerns among agents who have long worried that technology companies like Offerpad will start to take over their space. CEO Brian Bair tried to downplay that.

“I’m a real estate agent at heart, and I have a lot of respect for the real estate community and a lot of friends in the real estate community,” he said to Inman. “We partner and try to work very closely with the real estate community.” [Inman] — Eddie Small


Related Articles

arrow_forward_ios
(iStock)
South Florida resi sales jump in Q4: Elliman
South Florida resi sales jump in Q4: Elliman
An aerial shot of the condos at 2020 North Ocean BLVD. (30-thirty)
Cavache taps Douglas Elliman to sell remaining units at 30 Thirty North Ocean in Fort Lauderdale Beach
Cavache taps Douglas Elliman to sell remaining units at 30 Thirty North Ocean in Fort Lauderdale Beach
Kim Martin-Fisher and Jennifer Martin Faulkner and Liz Lopez
Movers & Shakers: RelatedISG names vice president & more
Movers & Shakers: RelatedISG names vice president & more
Matthew Whitman Lazenby, Grant Cardone, Phil Collins, Orianne Bates, Russell Galbut, Natalie Brabner, Craig Studnicky and Masoud Shojaee (Lazenby by Sonya Revell; Getty, iStock)
South Florida’s juiciest real estate lawsuits of 2020
South Florida’s juiciest real estate lawsuits of 2020
Dina Goldentayer, Ryan Cohen and the Bal Bay Drive home (Credit: Kris Tamburello/Douglas Elliman)
Lawsuit alleges Harding Realty cut out of $24M Bal Harbour sale, reveals Chewy founder as alleged buyer
Lawsuit alleges Harding Realty cut out of $24M Bal Harbour sale, reveals Chewy founder as alleged buyer
Lourdes Alatriste
Lourdes Alatriste leaves Engel & Völkers to join Douglas Elliman
Lourdes Alatriste leaves Engel & Völkers to join Douglas Elliman
Eighty Seven Park (iStock)
Eighty Seven Park’s priciest penthouse sells for $37M
Eighty Seven Park’s priciest penthouse sells for $37M
Residential sales surged in South Florida in the third quarter (Credit: iStock)
Single-family saves the day. Q3 resi sales up in South Florida
Single-family saves the day. Q3 resi sales up in South Florida
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...