Homebuying and selling startup Offerpad announced it’s testing two new pilot programs, set to debut later this year or early 2020. Offerpad Instant Own would allow buyers to move into Offerpad-owned homes in as little as 24 hours and Offerpad Buyer Boost is aimed at empowering homeowners to make all-cash offers.

Offerpad Instant Own, which is currently in beta mode in select markets, is aimed at reducing the closing time that most homeowners contend with when they buy a home.

On average, buyers have to wait 43 days to close on a home, according to Offerpad, citing 2018 data. The platform would have them move into an Offerpad home in as little as 24 hours, with the closing process taking just days.

Brian Bair

“Buyers no longer need to be on any timeframe but their own,” Brian Bair, Offerpad’s founder and CEO said in a statement. “If someone tours an Offerpad home on Monday, decides they want to buy it on Tuesday and then move in on Wednesday – done.”

“Instant Own will be their solution,” Bair added. “Buy a car in a day, purchase a boat on the spot, now we can help you own a home within days.”

Offerpad did not immediately return a request for comment on if the Instant Own platform has any fees associated with it, but Inman will update this story when it does. The company does not charge buyers any additional fees — beyond the traditional closing costs — when they purchase a home through Offerpad.

The iBuying startup’s second announcement, a platform called Buyer Boost, is aimed at giving buyers more buying power. Buyer Boost puts Offerpad’s immense capital to use for homebuyers, with Offerpad securing an all-cash offer for prospective buyers.

The pilot phase for Buyer Boost is expected to be underway in the fourth quarter of 2019. The company did not immediately return a request for comment on the fees associated with the platform.

“With Offerpad Buyer Boost, there is no need for a contingent offer or moving more than once,” the company said in a release. “Overlapping mortgage payments are completely eliminated from the equation for buyers, potentially saving them thousands of dollars long term.”

Buyer Boost offers a similar service to Homeward, a startup from Tim Heyl, a Keller Williams mega agent. Homeward allows current homeowners to use their equity toward an all-cash offer on a new home, without having to sell their old home first.

Email Patrick Kearns

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription