Agents can now list Offerpad-owned homes
Offerpad Solutions Inc. (“Offerpad”) (NYSE: OPAD), a leading
tech-driven platform for residential real estate, has unveiled a
new 3% + 1% agent program, a significant expansion of its current
Agent Partnership Program.
Since 2020, Offerpad has received over 130,000 cash offer
requests from agents, offering them an industry-leading 3% fee upon
a successful closing. The enhanced agent program empowers agents to
seamlessly integrate with Offerpad's suite of products like never
before. This aligns with the company's overarching objective to
serve as a comprehensive real estate solutions center for everyone
– sellers, buyers, and real estate agents alike.
“Since our inception, our primary mission has been to streamline
the home buying and selling journey for consumers. This dedication
is the very reason our company was founded. Sellers opting for
representation by an agent can still enjoy the advantages of
receiving cash offers from us, as we continue to prioritize this
foundational focus,” states Kyle Rush, Senior Vice President of
Growth. “Agents who partner with Offerpad can not only expect to
increase their earnings substantially but also gain access to an
extensive suite of tools to diversify their consumer
offerings.”
The company's trailblazing program introduces an exciting
addition of two principal tiers:
Offerpad PRO presents an attractive opportunity for
agents, enabling them to earn 3% on the successful closing of
homes. What's more, agents can now list the home and earn an
additional 1% commission. Through new training and a certification
program, agents can also access powerful Offerpad marketing tools
and branding (a new Powered by Offerpad designation that can be
used as a rider on signage, flyers, a website, and more). As one of
the nation’s leading renovations company, agents enrolled in the
program can leverage Offerpad's exceptional, cost-effective, and
timely renovation services. This provides them with the opportunity
to enhance their seller’s homes before listing, ultimately
maximizing the listing price. Sellers will continue to benefit from
Offerpad’s cash offer, as well as a Free Local Move and Extended
Stay Program. PRO will launch in all Offerpad markets
mid-February.
Offerpad MAX, an exclusive invite-only program, is
designed for highly motivated agents with significant market reach
and influence, aiming to establish a long-term partnership with
Offerpad for increased revenue and collaboration opportunities. In
addition to the PRO 3% + 1% program benefits, agents will gain
access to highly qualified sellers in exclusive zip code "zones."
They'll also secure listing opportunities for Offerpad-owned homes
in their designated zones, along with exclusive access to one of
the most sought-after programs, Offerpad's "Start with Sold" – a
backup cash offer for sellers choosing to list their home.
MAX is set to officially launch in mid-February in Las
Vegas, Indianapolis, Jacksonville, and Phoenix. Notably, during
Offerpad's soft launch, multiple zones in Phoenix and Las Vegas
sold out within hours. Further expansion into additional Offerpad
markets is anticipated in the first quarter of 2024.
Guided by its founder Brian Bair, a highly esteemed real estate
professional and former top agent, Offerpad is committed to
providing solutions and steadfast support for real estate agents.
Unwavering in its dedication to supporting the agent community,
Offerpad stands out as an industry leader that empowers agents to
receive top compensation and maximize their revenue.
For agents interested in being the first to know about this and
future programs and products, please visit here.
About Offerpad
Offerpad’s mission is to deliver the best home buying and
selling experience. 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 you find the right solution that fits your
needs. Visit www.offerpad.com for more information.
Forward-Looking Statements
Certain statements in this press release may be considered
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally relate to future events or Offerpad’s future
financial or operating performance. For example, statements
regarding Offerpad’s financial outlook, including homes sold and
Adjusted EBITDA, for the fourth quarter 2023, and expectations
regarding profitability, including the timing of reaching
sustainable positive Adjusted EBITDA, 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 important factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements. Factors that may impact such
forward-looking statements include, but are not limited to,
Offerpad’s ability to respond to general economic conditions; the
health of the U.S. residential real estate industry; Offerpad’s
ability to grow market share in its existing markets or any new
markets it may enter; Offerpad’s ability to manage its growth
effectively; Offerpad’s ability to accurately value and manage
inventory, and to maintain an adequate and desirable supply of
inventory; Offerpad’s ability to successfully launch new product
and service offerings, and to manage, develop and refine its
technology platform; Offerpad’s ability to maintain and enhance its
products and brand, and to attract customers; Offerpad’s ability to
achieve and maintain profitability in the future; the success of
strategic relationships with third parties; and Offerpad’s failure
to meet the New York Stock Exchange’s continued listing standards.
These and other important factors discussed under the caption "Risk
Factors" in Offerpad’s Annual Report on Form 10-K for the year
ended December 31, 2022 filed with the Securities and Exchange
Commission on February 28, 2023, and Offerpad’s other reports filed
with the Securities and Exchange Commission could cause actual
results to differ materially from those indicated by the
forward-looking statements made in this press release. 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
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20240129667591/en/
Media Contact: Cortney Read, Chief of Staff
press@offerpad.com
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