Offerpad announced Monday it’s launching its entire suite of real estate services — which includes an iBuying and listing services option — in both Denver and Nashville, two of the nation’s hottest and most competitive housing markets.
The company first announced it was eyeing the two markets back in December and Monday revealed the full scope of its offerings in those markets. While the company gained its reputation as a direct-to-consumer homebuying and selling platform, it launched listing services last summer and continues to scale up its homebuilder partnerships.
“We’re known for providing quick competitive cash offers, which will always remain a core offering,” Brian Bair, Offerpad’s founder and CEO, said in a statement back in December. “For new customers in Denver and Nashville looking to list their home, Offerpad is by far the most advanced way to maximize a home’s value on the open market.”
“Our 100 percent free, show-ready home services, matched with our home improvement advance program and back-up instant cash offer, are unparalleled.”
Offerpad’s direct-to-consumer platform gives homebuyers the option to take an all-cash quick close offer, but the company will face stiff competition for its services in the two markets, as Zillow Offers and Opendoor already have an established presence in both metros.
Offerpad is expanding beyond just Nashville with its middle Tennessee footprint, setting up shop in roughly 120 local ZIP codes, extending “as far north as the state line, south past Columbia, from Dickson in the west, to Watertown in the east open to sellers in virtually all cities, towns, and neighborhoods in between,” a spokesperson for Opendoor told Inman.
In Colorado, the company’s presence now extends to about 50 cities and towns surrounding Denver, including 165 ZIP codes from Fort Collins to Colorado Springs.
“After a thorough quantitative and qualitative analysis where we blend traditional MLS and trending market data, as well as leverage our unique internal insights on what we know works well for our business model, Denver and Nashville more than meet that criteria for our company’s aggressive growth agenda,” Matt Brohn, Offerpad’s vice president of strategic initiatives, said in a statement back in December.