Like Facebook dropped the “the,” OfferPad has dropped the capital “P.” The three-year-old iBuyer is now going by “Offerpad,” with a new logo and branding to match.
“I don’t see this as just a rebrand. It’s more of an Offerpad 2.0,” Offerpad Chief Marketing Officer Darrin Shamo told Inman.
Here is the old OfferPad logo:
And here’s the new Offerpad logo:
Offerpad chose to ditch its old logo with the carrot representing a roof — a logo feature Shamo said was overused among real estate companies — in favor of a version it says better represents Offerpad’s tech expertise. The light grey color of the old logo often got lost among the brighter branding of some of Offerpad’s partners, Shamo said.
The new logo is a little friendlier, with its bubbly font suggesting a helpful friend in the home search process rather than the more geometrical old logo’s seeming emphasis on speed and convenience.
In its new branding strategy, Offerpad says that the “hand-lettered look adds a sense of humanness to our brand,” that “smooth lines convey trust, stability, honesty and comfort” and that “rounded corners convey peace of mind during the homebuying and selling experience.”
Shamo declined to say how much Offerpad spent on its rebrand. The company has been working on the relaunch for several months with the firm OH Partners and has been considering dropping the capital “P” in its name for longer than that, he said.
Offerpad is also debuting new “core values” for the company, which are now: “homes not houses,” “freedom first,” “every day matters,” “results rule” and “embrace our roots.”
With this “Offerpad 2.0” launch, the company is set to run a new series of ads across TV, radio and social in its six core markets: Atlanta, Charlotte, Las Vegas, Orlando, Phoenix and Tampa. The ads will feature Offerpad co-founder and CEO Brian Bair on a couch talking about why the founders created Offerpad and what the company is trying to solve.
The logo rebrand comes with updates to the Offerpad website. You can see the side-by-side comparison here:
The rebrand makes the word Offerpad look a little more similar to Opendoor — a similar name, without a capital letter in the middle differentiating the two brands.
Offerpad’s rebrand arrives as competition between iBuyers is heating up, with Opendoor leading the pack and Zillow jumping into the ring with its Instant Offers program — an entry that led Offerpad to cut ties with Zillow.
The models are similar: these companies buy and resell homes online from sellers often willing to take a hit in sale price in exchange for speed, convenience and a near-guaranteed closing.
As Offerpad moves into its next phase, the company says it still values agents.
“We’re continuing to build this platform … in a way that satisfies the seller and buyer, and we believe the agent will be an important part of that,” Shamo said.
“There’s a lot of room for a lot of players,” he added. “I think the platform space is going to accelerate rapidly.”