Offerpad is a residential real estate company with a boastful leadership team that has purchased, turned over, and rented or sold over 100,000 homes in the United States.
Since it was founded in 2015, Gilbert-based Offerpad has raised more than $410 million in equity and debt, is projected to buy and sell more than $1.5 billion of single-family homes over the next year, has an eye-popping 94 percent customer satisfaction rating and is redefining an industry.
So how does it work?
“Our approach fundamentally changes the way people buy and sell homes,” says Jerry Coleman, co-founder Offerpad. “Instead of paying for the renovations needed to sell a home and waiting four or five months for closing, we buy homes from those who want to sell quickly and for a guaranteed price.”
With Offerpad, homeowners complete an online form and receive an offer on their home within a day or so. Homeowners pick their closing date. Offerpad then makes necessary renovations and lists the home for re-sale on its online platform. The formula is working. After just three years in business, OfferPad is on pace to generate close to $1 billion in revenue this year.
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