iBuying giant tweaks model to pursue listings

(Disclosure: RLG represents Offerpad.)

Realtor Magazine | National Association of Realtors

Offerpad, one of the nation’s largest iBuyers, is expanding its services beyond instant cash offers on homes to also give sellers an opportunity to list homes publicly. The firm announced Monday the launch of its Real Estate Solutions Center, which includes concierge services for getting homes ready to list on the market.

To start the process, homeowners can share details of their home and upload pictures. The home is evaluated by Offerpad’s real estate team, and homeowners are presented with a cash offer and other selling options within 24 hours. The homeowner then has a choice: They can sell their home instantly to Offerpad or partner with Offerpad to list the home publicly.

If they choose to list publicly, Offerpad works more like a listing agent. Homeowners can also use the company’s home preparation services to get the home ready to list, with services such as carpet and house cleaning. Offerpad fronts the money for any renovations and the seller then reimburses the cost at closing.

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