Offerpad partners with Realtor.com to expand cash offers
The search portal integration is the iBuyer’s latest move as it focuses on growing market share through partnerships and agent incentives.
Offerpad is teaming up with Realtor.com in an effort to promote its iBuying services to a larger audience of potential sellers, the company announced on June 11.
The details: Through an integration with Realtor.com, visitors to the home search portal will see an option to sell their home to Offerpad. Users can enter their home address and select the cash offer option to get the process started.
Blake Elmquist, VP of seller category management at Realtor.com, said this move will complement other aspects of the website's selling experience.
"The integration with Offerpad is a natural fit for Realtor.com as we continue to innovate to meet the needs of home sellers in a dynamic market environment," Elmquist said in a news release.
The cash offer option through Offerpad will be available in select markets. The iBuyer is currently operational in 24 market areas nationwide and has made more than 500,000 offers to home sellers since 2015, the company states.
Part of a bigger plan: In a recent interview with Real Estate News, Offerpad CEO Brian Bair said the company is looking to increase market share after a tough couple of years.
Offerpad and Opendoor are the leading players in the beleaguered iBuyer space, and they are competing for consumer attention. Opendoor previously formed partnerships with the largest home search portals — Zillow, Realtor.com and Redfin — and has also teamed up with eXp.
In its push to stay competitive, Offerpad announced a partnership with Anywhere in September, and more recently, expanded partnership programs for real estate agents.
"We want to be a solution center for everyone, and we want to meet customers where they're at. Being a former real estate agent myself, we've always embraced the real estate agent community," Bair said in the interview.