Episode #24: The Ins and Outs of iBuying with Cortney Read of Offerpad

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By Deidre Woollard and A Motley Fool Service. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

In this episode, Millionacres Editor, Deidre Woollard talks with Cortney Read, Chief of Staff at Offerpad. They discuss iBuying, its impact on the residential real estate market, and the new solutions that companies are developing to attract home sellers.

Cortney Read is the Chief of Staff and Communications for Offerpad, where she works closely with CEO Brian Bair. She manages a variety of high-level, long-term and cross-organizational projects as well as overseeing Offerpad’s strategic communications, public relations and overall media relations efforts. Offerpad is one of the biggest startups in the IBuying space and is active in multiple markets.

Learn more at www.offerpad.com.

Timestamps:
00:00 Introduction

02:15 Guest Introduction

02:57 Offerpad getting into iBuying and definition

03:46 iBuying market through the pandemic

06:29 2020 trend

07:51 Buyer interest

08:41 Offered process

11:53 Pricing Interest

13:41 Migration trends

14:45 Market Future

16:45 Bidding wars in markets

17:35 Agent partnerships

19:23 Kinds of agents coming to Offerpad

20:01 Relationships with home builders

21:50 Delays in supply chain

22:30 More interest in new homes?

26:20 Making iBuying profitable on the large scale

29:27 Attracting customers

30:26 Home improvement advance program

33:42 Contractor relationships

34:40 Home age impacting market trends

35:31 Timeline entering new markets

38:00 challenges in smaller markets

39:50 human eyes on deals

40:46 Platform competition with individual investors

42:00 future plans

42:46 markets in operation

43:00 market strategy

43:50 Dream trophy house

70 episodes