With the expansion, the real estate service company is expanding its range to almost 300 new postcodes.
Offerpad announced Monday that it is launching its entire suite of real estate services – including an option for iBuying and listing services – in both Denver and Nashville, two of the hottest and most competitive housing markets in the country.
The company announced it was targeting the two markets back in December, and the full range of its offerings in those markets was announced on Monday. While the company was building its reputation as a direct-to-consumer platform for buying and selling homes, it launched listing services last summer and continues to expand its partnerships with home builders.
“We are known for providing fast, competitive cash deals that will always remain a core offering,” said Brian Bair, Founder and CEO of Offerpad, in a December statement. “For new customers in Denver and Nashville looking to list their home, Offerpad is by far the most advanced way to maximize the value of a home in the open market.”
“Our 100 percent free, show-ready home services, combined with our do-it-yourself advance program and instant cash backup offer, are unparalleled.”
Offerpad’s direct-to-consumer platform enables homebuyers to make a quick cash offer. However, the company will face fierce competition for its services in both markets as Zillow Offers and Opendoor already have an established presence on both metros.
Offerpad is expanding beyond Nashville with its mid-range Tennessee presence and opening stores in approximately 120 local zip codes. It extends “to the state line south, south of Columbia, from Dickson in the west to Watertown in the east, and is open to vendors in virtually every city and neighborhood in between,” an Opendoor spokesman told Inman.
In Colorado, the company’s presence now extends to approximately 50 cities around Denver, including 165 zip codes from Fort Collins to Colorado Springs.
“After thorough quantitative and qualitative analysis, combining traditional MLS and trending market data and leveraging our unique internal insights into what works well for our business model, Denver and Nashville more than meet these criteria for the aggressive growth of our company”, Offerpad vice president of strategic initiatives, Matt Brohn, said in a December statement.
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