Real estate brokerage services provided by Offerpad Brokerages. of 0 shares. by Inman, and the Wall Street Journal named him the second highest-performing real estate agent in 2014 and 2017. Gurus may be added or dropped from the GuruFocus site at any time. Opendoor, Offerpad and Redfin are re-starting their home purchases this week. of 1,050,000 shares. Coalesce's Select Membership is no longer active. Offerpad Solutions Inc (OPAD)'s detailed insider trading history can be found in Insider Trading Tracker table. Bair got on the phone with Inman to discuss his companys three-year anniversary and its path forward after a few months of changes in Phoenix. What has been your biggest surprise so far in runningOfferpad? Offerpad $41 million in net income for the first three months of 2022 on $1.4 billion in revenue. Im a lifelong learner, he says. You will receive additional instructions via email. 11:57 Offerpad's strategy of attacking new markets13:30 Offerpad's total addressable market15:27 How will Offerpad make most of its revenue? 2022. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. But the consumers reaction to it has been really even more favorable than I could have ever imagined or hoped for. Brian Bair has been associated with eleven companies, according to public records. Under his leadership, Offerpad has instituted groundbreaking consumer-centric home buying and selling solutions, empowering more people around the country to move freely. Unique features from hacker profiles to portal watch and video interviews. But each market always has its own dynamic, from seasonality to local expertise and local expectations. My most important role is to provide extensive information, market property and, most importantly, negotiate contracts.. What has been Offerpads biggest challenge? OfferPad can help eliminate that stress, plus more. Subscribe to Inman Select for Breaking News and Exclusive Industry Content. purchase Someone wise (who probably had a talent for writing engaging LinkedIn content) once said, Leaders instill in their people a hope for success and a belief in themselves. It could be someone devastated with a cancer diagnosis, a sick child, an elderly person alone, a family going thru financial problems, people dealing with the struggle of making the most out of their life. Don't miss the premier event for real estate pros. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. One of the no. purchase My mother was the first person to teach me life is about results., Working for Brian is truly a pleasure. Offerpad CEO Brian Bair. Key Takeaways. Past performance is a poor indicator of future performance. Hes the co-founder and co-CEO of Offerpad, as well as has a background as a licensed real estate agent. Offerpad was started by its current CEO Brian Bair in 2015, and it went public through a . Here is where it is likely to increase the most over the next few years. In September 2021, he also assumed the role of Chairman of the board. Get out the streamers and kazoos and start preparing the hors d'oeuvres - an iBuying company has reported a year's worth . of 1,000,000 shares made by Roberto Marco Sella Located in Phoenix-Mesa-Glendale, AZ Metropolitan Area. Thank you for accessing our content on the Topio Networks Market Intelligence Center. Technology Offerpad's Brian Bair on what you need to know about iBuyers Offerpad CEO talks to Inman on three-year anniversary about the startup's path forward Offerpad by Emma Hinchliffe. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. The technology is here, but politics may stand in the way. The closing of $100 million in debt is an extension of OfferPads existing credit facilities. Like many others, we must adjust the size of our operations to align with the current state of the market. I am passionate about people. In every market, people are selling homes and people have the same needs. brian bair, offerpad net worth. Mission Title Offerpad's Brian Bair on life with one CEO . In our latest real estate techfounder interview, were speaking with Brian Bair from Offerpad. We pride ourselves on our operations and background in real estate. With Offerpad, buyers receive competitive cash offers in as few as 24 hours. Net Worth. Your subscription will automatically renew for on . In 2017, Brian was awarded the Most Innovative Real Estate Agent of the Year For more details on our payment terms and how to cancel, click here. That full-service mindset led Bair to launch Offerpad, a different approach to streamlining the homeselling process for consumers. The only daily news program focused exclusively on technology, innovation and the future of business hosted by Ed Ludlow from San Francisco and Caroline Hyde in New York. As many of you are aware, companies in the real estate and technology industries have been significantly impacted by recent macroeconomic factors that have slowed the trajectory of growth. All Rights Reserved. Overall, I value and love people. Year. Prior to founding Offerpad, Brian Bair was a top real estate agent. We are looking at some areas where theres nobody in those markets yet. A mastermind for real estate tech innovators. Brian Bair. He attributes much of his success to pioneering an award-winning concierge program in 2012, which is being integrated into Offerpad's new solutions center. We are grateful for all our team members hard work getting us to where we are today. 10 percent owner First American Financial Corp 24:53 Where do you see Offerpad in 10 years? Having a 94 percent customer satisfaction rate thats something I talk about to the employees all the time, to the team. During an eight-year span, Bair personally sold more existing homes than any agent across the country. He has been credited for selling the most existing homes in the United States since 2010, and he attributes his success to simplifying the process for owners and buyers. We are laser-focused on giving consumers a better experience when selling a home. Brian Bair, Offerpad founder and chief executive officer, is one of the most successful residential real estate agents in the United States. The misconcep Maximize your shed space with these easy hacks! With our company, its just the opposite. Over the past 18 months, Our expansion is going to happen very rapidly, Bair said. Our culture values honesty and transparency. I am the co-CEO and co-founder at Offerpad. What are you most excited about for your business going forward? Brian Bair has served as Offerpad's Chief Executive Officer and a member of its board of directors since he founded Offerpad in July 2015 with a mission to provide the best way to buy and sell a home. Brian ranked Americas #2 Real Estate Agent, according to The Thousand, the real estate industrys most prestigious ranking report released yearly by REAL Trends, Inc and The Wall Street Journal. It uses technology-enabled solutions to remake the home selling and buying experience by offering customers the convenience, control, and certainty to solve their housing needs. Were definitely getting ready to hit the turbo boost button.. The webcast can be accessed on Offerpad's Investor Relations website. The company has identified its next five to eight markets including Nashville and Dallas, which had been listed as coming soon on Offerpads website but have been taken down and is intent on quick growth in late 2018 and early 2019. 22:11 Will the traditional brokerage model disappear? Naturally, having two CEOs, there are more people that need to be aligned. Thanks to Brian for sharinghis story. . As Brian tells it, My mother was a very successful talent agent and one of the best business people I have ever known. What isOfferpads relationship like with the local agents and brokers in each of its markets? Brian Bair is a master negotiator who has closed over 3,000 transactions and over $600 million in residential real estate over the past several years, Brian is ranked by Real Trends, as Arizonas #1 Real Estate Agent for homes sold, earning him the distinction of being Arizonas top-producing agent for sales since 2010. Real estate brokerage services provided by Offerpad Brokerages. , Same platform but with new and improved features. Enjoy a 7-Day Free Trial Thru Jan 25, 2023. Were on a very fast rocket right now, as weve grown so quickly, as we look at opening new markets, as we scale. If thats you,please read this post then drop mea line(drew @ geekestatelabs dot com). Republican for 74th District State Rep. votebair@gmail.com. Whether it comes to his own people or the consumers he serves, Brian is utterly devoted to empowering others. Those are some of the things you have to be prepared for. There are basements in Atlanta, which there arent in Phoenix, there are larger lots. Phoenix is the largest market for iBuyers with between 5% and 6% of houses being bought by iBuyers. Our competitive advantage by far would be our real estate operational experience. As technology becomes more advanced and consumers demand more, developments will continue to evolve. In this model, iBuyer, on-demand buyer, whatever you want to call it, I feel pretty strongly that were just really in the first inning of some of the potential we have with this model. . What do things look like at OfferPad now that youre the sole CEO? Offerpad Solutions Inc (OPAD) But you cant take Phoenix and Vegas and apply it exactly the same way to Atlanta, there are products that we buy for that area and certain expectations you just have to know your stuff in these markets. We look forward to providing you with even more cutting-edge market research, as Topio Networks. Although those around him would be quick to describe Brian as a gregarious guy with a sunny outlook, simply accepting things at face value because this is the way its always been done is one area where hes unwilling to compromise. This investment adviser does not provide advice to individual investors. ET. What isOfferpaddoing to be competitive and to stand apart from other homebuying startups? Study Shows iBuyers Cost Home Sellers Thousands; Is Convenience Worth The Price? It will merge with a shell company helmed by Chamath Palihapitiya, a venture capitalist and early Facebook executive. We knew the co-CEO thing was something that couldnt last forever, especially in this kind of fast-growing environment. My background is with agents. To learn more, speak to your Offerpad representative or visit, Ready to put up that holiday dcor?