Offerpad is launching in Port St. Lucie, Florida, an expansion into a state in which it has been operating since 2015, the company announced Tuesday.
Port St. Lucie is Offerpad’s first new market since launching its real estate services division to complement its existing iBuyer service. Through the new platform, the company allows clients to list homes for sale with licensed Offerpad employees while utilizing concierge services to prep homes for market, as well as sell homes to Offerpad for an all-cash offer with a quick close.
“We’ve had a significant amount of seller interest to widen our Orlando coverage area for quite some time,” said Vaughn Stewart, Offerpad’s Orlando market director. “Port St. Lucie is known for quality homes that are typically located in quiet neighborhoods and surrounded by beautiful scenery — we are confident that our stress-free way to sell a home will be welcomed by homeowners.”
The company is also entering the market with a number of homebuilder partners through its partner builder program, which allows clients interested in purchasing a new construction home to select their closing date up to nine months out to time the transaction. Partners include Beazer Homes, Maronda Homes, Meritage Homes, and Pulte Homes, many of whom have previously worked with the company.
“Our partnership with Offerpad over the past year has streamlined transactions for us and for our clients,” Scott Howard, president of Maronda Homes, said in a statement. “Offerpad provides reassurance by removing the contingency of a client’s current home funding falling through, while they build their next dream home.”
The expansion is Offerpad’s first since the company resumed the homebuying segment of its business, which was forced to temporarily pause amid COVID-19 safety concerns in March.