Direct buyer Offerpad planning significant expansion, beginning in Texas | 2019-01-21

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Sharp Credit – Credit News – Credit Information

Last year, Offerpad secured $150 million in funding, which the direct homebuyer said that it planned to use to expand its business.

As with similar direct buyers like Opendoor and Perch, along with real estate giants, Zillow and Redfin, Offerpad buys homes directly from sellers, makes the necessary upgrades or improvements and then sells the home.

The company, which is headquartered in Arizona, buys homes directly from sellers in Atlanta, Charlotte, Las Vegas, Los Angeles, Orlando, Phoenix, Salt Lake City, and Tampa.

Late last year, Offerpad began operating in Tucson, Arizona and also began expanding into Texas when it set up shop in the Dallas-Fort Worth metroplex.

And that won’t be the company’s only foray into Texas. The company announced last week that it is now operating in the Houston area and plans to launch in San Antonio in the next few months.

According to the company, it opened up offices in the Houston suburb of The Woodlands and is now offering its direct homebuying services to 86 cities in the area, including Bellaire, Pearland, Sugar Land, Seabrook, and Friendswood.

“The company has a very concentrated vision to bring our real estate solutions to millions more people this year,” Offerpad’s Texas regional market director, Trent Capps, said.

“Our start in Texas, with Dallas-Fort Worth, has far and away exceeded our expectations and we anticipate the same for our other Texas markets,” Capps continued. “In Houston, we began receiving home offer requests weeks ago, so we foresee huge success there, as well as in San Antonio later in the quarter.”

The company’s founder and CEO Brian Bair said that it has big plans beyond expanding in Texas.

“2018 was a successful year for Offerpad and now we are ready to scale by entering into new markets. Dallas, Houston and San Antonio are all cities we’ve had intentions of offering our service in,” Bair said. “I’m confident that Texans are going to value the solutions we’ve developed to the once complicated and stressful process of selling a home.”

The company said that it also plans to expand into “many more market areas” in 2019.



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