Real Estate

OfferPad takes the Cash Offer program to Realtor.com.

Offerpad is the latest company to join Realtor.com’s Sellers Marketplace. Both companies said the partnership reflects their commitment to advancing consumer choice.

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Offer Paid Cash offers are coming to Realtor.com, according to An announcement on Tuesday.

Home sellers can request a cash offer through Realtor.com’s Sellers Marketplace. After providing their address and answering a few questions about the condition of their property, The seller will receive an underwritten cash offer from one of OfferPad’s local market underwriters. Once a seller chooses the offer, they will have access to a flexible closing date and free transfer services.

Blake Elmquist

Realtor.com Seller Category Management VP Blake Elmquist said OfferPad is a “natural fit” for the seller’s marketplace and enables the portal to “meet the needs of home sellers in a dynamic market environment.”

“It will also complement our RealChoice selling experience, which provides consumers with selling options, and enables them to compare listing agents to find a trusted expert,” he added.

In an interview with Inman, Offerpad founder and CEO Brian Beer echoed Elmquist’s sentiments, saying that Offerpad and Realtor.com share the same core value: empowering consumer choice.

“As we were working together on this integration, it was a natural fit – people have the choice to list their home, [a] Cash offer, or if they want, both,” he said. “I really, really like it. Especially where we’re in this market right now, this day and age, it’s really important to all of us [meet] Sellers are where they are. [Well]Sellers and buyers, but especially sellers. There it is. [this partnership] Start.”

Brian Beer

The past four years have been a violent cold snap for consumers, who have had to navigate historic ebbs and flows in mortgage rates, home prices, the pace of listing sales and other key market factors, Baer said.

At a time of immense change, he said the real estate industry must rise to the occasion and give consumers multiple options to suit their wants and needs.

“There was someone we spoke to last week who was a dog owner. It was hard to work around their life when they [had] Go home and let your dog out for exhibitions and things like that,” she said. “These are all different little life moments that people have where we can meet them, and so our cash offer was a great fit for them.”

As the deadline approaches for several multiple listing service (MLS) policy changes related to the National Association of Realtors’ $418 million buyer-broker commission lawsuit settlement, Bayer said he expects customers to see what iBuyers offers. But will take another look.

“The reason I founded OfferPad was because I saw the world of real estate changing, not because it was anyone’s fault … but because everything changes and people just don’t have patience,” he said. Which used to happen,” he said. “It’s important to have more control over transactions, and with the settlement that’s just happened, I think you’ll start to see little changes here and there in the traditional transaction process.”

“First and foremost, I don’t think agents are going away by any means, but it’s about providing whatever it is. [consumer] wants,” he added. “First-time buyers may want someone to represent them, [and] Someone who has bought a lot of homes may be more comfortable dealing directly with an offer pad. We are going to look at this opportunity. [grow]”

In addition to the opportunity to connect with more home sellers, Bayer said the Realtor.com partnership ultimately signals a new chapter for OfferPad, which has seen declining profits, layoffs and a near-delisting from the stock market. included.

The company’s first quarter saw reduced losses and increased acquisition activity and the addition of several new agent-focused initiatives, including a listing platform.

“I’ve been in real estate for 20 years; I’ve never seen anything like this [the market] Outside of COVID it’s been a lot of different challenges,” he said. Then we will resume our rapid growth.”

“The one thing I’m probably proudest of more than anything else is our ability to adapt and stay flexible to all market conditions,” he added. “It really speaks to the power of [iBuyer] The model and team’s ability to remain flexible in general.

Email Marian McPherson.




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