, People can request an offer on their home by entering in their property address to our website, upload photos and important details on their home, and within 24-hours we will send an offer for review. Use Forbes logos and quotes in your marketing. Whats the mac daddy on your Turkey Day table? If you are looking for someone to invest in your Real Estate project, Brian Bair is the man you want to talk to. purchase Stock quotes provided by InterActive Data. Why Zillow Should Pay $11 Billion To Acquire Opendoor, The Rise Of The IBuyer And What Your Real Estate Agency Needs To Compete: An Interview, Ready Or Not, Real Estate Industry Undergoing High-Tech Makeover, New Billionaire: Opendoors Public Debut Is A Big Win For CEO Eric Wu, Homebuyers Will Be The Biggest Factor In The Future Of Real Estate Tech, Home Buyer Opendoor Is Going Public In $4.8 Billion Merger, Real Estate iBuyers Are Back In The Game After Coronavirus Hiatus, Zillow, Opendoor And Other iBuyers Are Out, But This Homebuying Business Is Still Going Strong, How Real Estate Trends Of The Past Decade Influence The Current Economy, The iBuyer Trend Has The Biggest Potential For Growth In These 10 Cities, The Surprising Way Real Estate Agents Are Adapting To "iBuyers" Buying Houses Directly From Sellers. All rights reserved. Brian Bair has been associated with eleven companies, according to public records. Our culture values honesty and transparency. All Rights Reserved. Under his leadership, Offerpad has instituted groundbreaking consumer-centric home buying and selling solutions, empowering more people around the country to move freely. Through his work in real estate, he recognized one big challenge every homeowner encountered inconvenient last minute showings, negotiating, risk of deal falling through, waiting and uncertainty they couldnt control when the home soldwhich led him to co-found OfferPad. Offerpad's Brian Bair on life with one CEO and 3 years of iBuying 08/23/2018 Offerpad CEO Brian Bair called up Inman to talk about Offerpad's future three years into iBuying and one month after his co-CEO stepped down. Despite his success with Offerpad, Brian will be the first to tell you he doesnt have all the answers. , In September 2021, he also assumed the role of Chairman of the board. You recently made some leadership changes with your co-CEO, Jerry Coleman, stepping down. We build consumer products at the intersection of community, real estate, and travel. It allowed Jerry to focus on the capital side and some of the strategic things we were doing. Farm your area with an innovative program to build community and help address our homelessness challenge. I believe the best way to drive results is by empowering people and set them up for success.. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. 11:57 Offerpad's strategy of attacking new markets13:30 Offerpad's total addressable market15:27 How will Offerpad make most of its revenue? Breaking news as it happens. 2004-2023 GuruFocus.com, LLC. Covid-19 is the agent of change driving advances and acquisitions in a sector long-resistant to tech. It combines fundamental real estate expertise with the data-driven digital Solutions Center platform to give users a holistic, customer-centric experience, enabling them to efficiently sell and buy their homes online with streamlined access to other services including mortgage, listing, and buyer representation services. He is so passionate about what he does, it creates that culture throughout the whole office. Jennifer Hunnicutt, operations director. We are so excited about the opportunity to continue expanding our offerings and grow into other markets. National Director of Homebuilder Alliances, Intelligent Assistance and Bots Ecosystem. Since 2015, the model Brian helped pioneer has built a loyal following and completely changed expectations in real estate. Those are some of the things you have to be prepared for. 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, What you need to know to start your day with all the latest industry developments. My most important role is to provide extensive information, market property and, most importantly, negotiate contracts.. Meet the Real Estate Tech Founder: Brian Bair from Offerpad. Maximize your shed space with these easy hacks! Facebook Linkedin Instagram Email. I have a lot of friends in the agent community. In 2017, Brian was awarded the Most Innovative Real Estate Agent of the Year. Thank you for subscribing to Morning Headlines. Having a 94 percent customer satisfaction rate thats something I talk about to the employees all the time, to the team. In 2017, Brian was awarded the Most Innovative Real Estate Agent of the Year Has eXp done enough to shed costs and still grow in 2023? In fact, our customers select their closing date. 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. Offerpad is very much a tightknit family environment, theres a lot of trust that goes into sustaining that type of culture. In the spirit of the day, we wanted to acknowledge our own founder and CEO, Brian Bair, the creative force behind Offerpad. In September 2021, he also assumed the role of Chairman of the board. 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. United States Companies With More Than $100M in Revenue (Top 10K), Greater Phoenix Area Companies With Fewer Than 1000 Employees (Top 10K), United States Public Companies With More Than $10M in Revenue, Real Estate Public Companies With More Than 100 Employees, E-Commerce Public Companies With More Than $50M in Revenue, Western US Public Companies With Fewer Than 1000 Employees, E-Commerce Public Companies With More Than $10M in Revenue, Real Estate Investment Companies With More Than 10 Employees, Number of Organizations that the person founded, Algorithmic rank assigned to the top 100,000 most active Investors, The organization associated to the person's primary job, Where the person is located (e.g. We are grateful for all our team members hard work getting us to where we are today. Having a single CEO now, the purpose was being able to move faster, to be more agile,grow quicker and have the ability to make decisions fast. Positive leaders empower people to accomplish their goals. You dont need to spend much time with Brian to see just how much this adage applies to his own style of leadership. Consumers can take on an enormous amount of stress when selling a home. Today, under his leadership, it is thriving. loanDepot, the second largest non-bank consumer lender in the US, and OfferPad, an on-demand direct home buyer and seller, announced recently on a partnership which will include several initiatives designed to streamline real estate processes both for consumers and real estate professionals. Sellers can choose their own flexible closing date and forego the stress that a rotary of open houses brings. As agents faced the unprecedented uncertainty of the past year, they quickly adopted tools to keep sales moving, from video tours to 3D walkthroughs to FaceTime showings. If so please contact customer support at (510) 658-9252, Password Reset Instructions have been sent to. She represented models and actors all over the world. Get out the streamers and kazoos and start preparing the hors d'oeuvres - an iBuying company has reported a year's worth . Phoenix is the largest market for iBuyers with between 5% and 6% of houses being bought by iBuyers. There seems to be a problem with your Inman Select Membership. 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. Brian Bair. The opportunities for the real estate industry to change are enormous. Eligibility and prices vary. Before Brian was working to change conventional real estate, he was learning important life lessons from his mom. What has been your biggest success or proudest moment in runningOfferpadso far? The Thousand ranks the top one half of one percent of over 963,000 real estate agents nationwide. The challenge has been our rapid growth. When I got out of high school, I assumed I could go work with her and be an immediate big deal. Same platform but with new and improved features. One of the main reasons we did that was just to grow faster. Our expansion is going to happen very rapidly, Bair said. Your subscription will automatically renew for on . We want to make sure you get the most out of our platform. Many people are dealt such challenging situation and I am always so amazed of how strong people are. Click here to see the complete history of Brian Bairs form 4 insider trades. 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 Arizona's #1 Real Estate Agent for homes sold, earning him the distinction of being Arizona's top-producing agent for sales since 2010. . A lot of our business model stemmed from my years as a top-realtor. Participants can register hereto receive a personalized dial in number and PIN. Were not trying to sell their information. As technology becomes more advanced and consumers demand more, developments will continue to evolve. OfferPad Secures $150 Million In New Financing, loanDepot Partners With OfferPad To Create A Bundled Real Estate Experience, Backed With $260M: How OfferPad Plans To Outperform OpenDoor, Startup OfferPad Raises $260M Debt, Equity To Upend Homes Sales Market In Competition With Opendoor, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. The SPAC boom strikes again. A mastermind for real estate tech innovators. purchase That would be the thing I am most proud of and thats something that we talk about almost every day here. What has been your biggest surprise so far in runningOfferpad? 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. All markets are very different, but theyre all very similar. Website builder Luxury Presence lays off 44 employees, Kelman: 'I probably should have closed the iBuying business earlier'. Ive always been very pro-real estate agents but some agents, they dont like anything that disrupts their model, and I get it but there are different models. Get the week's leading headlines delivered straight to your inbox. Whether it comes to his own people or the consumers he serves, Brian is utterly devoted to empowering others. In summary, during the past 3 months, insiders sold 0 shares of Offerpad Solutions Inc (OPAD) in total and bought 0 shares, with a net Please contact the parent account holder or Inman customer service @ 1-800-775-4662 customerservice@inman.com. Brian Bair and Jerry Coleman launched Offerpad, an Arizona-based iBuying startup, in 2015. Many of the market's iBuyers have stopped buying houses. Stay tuned. Thesis-driven essays. I was off and running! February 23, 2022, 7:09 pm By Matthew Blake. In the last 16 months, OfferPad raised more than $410 million in equity and debt. We want to buy their home and give them an unbelievable experience. Mission Title Offerpad's Brian Bair on life with one CEO . 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. 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. by Inman, and the Wall Street Journal named him the second highest-performing real estate agent in 2014 and 2017. This model, its a difficult model because of all the different alignments you have to have with real estate and renovations and dispositions and finance and marketing and logistics and everything that has to come together to be able to grow really smoothly. Brian Bair, Offerpad founder and chief executive officer, is one of the most successful residential real estate agents in the United States. Offerpad $41 million in net income for the first three months of 2022 on $1.4 billion in revenue. Much of the companys current success can be attributed to Brians acumen as a leader. 24:53 Where do you see Offerpad in 10 years? That full-service mindset led Bair to launch Offerpad, a different approach to streamlining the homeselling process for consumers. It can work in a city that has 6 million people, it can work in a city that has 200,000 people. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. What are you most excited about right now? Las Vegas and Phoenix are very similar. But each market always has its own dynamic, from seasonality to local expertise and local expectations. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. Offerpad CEO Brian Bair. For more details on our payment terms and how to cancel, click here. November 21, 2022 by Juliana Vasquez-Keating. We have our people power people whove been real estate agents for years that can help us buy the right properties and also give consumers the right experience. The iBuyer trend is gaining ground. This interview has been edited and condensed. Republican for 74th District State Rep. votebair@gmail.com. By submitting your email address, you agree to receive marketing emails from Inman. Based on ownership reports from SEC filings, as the reporting owner, Brian Bair owns 1 companies in total, including Over the past 18 months, Last week, we experienced one of the most challenging moments when we undertook the difficult, but necessary task of reducing our workforce. 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. Copyright 2023 Surperformance. Year. Coalesce's Select Membership is no longer active. 15 stories covering tech, special reports, video and opinion. Founder of 6 different companies, which include: Offerpad Solutions, Inc., Elevation Home Energy Solutions, Inc. and Bair Group Real Estate, Brian Bair and currently occupies the position of Chairman & Chief Executive Officer at Offerpad Solutions, Inc. (which he founded in 2015) and Chief Executive Officer for OfferPad, Inc. (which he founded in 2015) (a subsidiary of Offerpad Solutions, Inc.). Curated news and commentary. 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. OfferPad can help eliminate that stress, plus more. Direct home buyer and seller OfferPad announced today the closing of $150M of new equity and debt financing led by LL Funds. Brian Bair, founder, chairman and CEO of Offerpad shares what's next for the Chandler-based ibuyer. . Brian sold 868 homesthe second most homes in the country and his sales numbers and track record landed him in The Wall Street Journal, saying A career in real estate is not a sales position, and it goes far beyond locating product. 16:55 What are Offerpad's efficiencies?20:28 How are iBuyers different than companies that buy distressed homes? Real estate brokerage services provided by Offerpad Brokerages. $142 million. You need to hold yourself accountable in order to be successful.. Thanks to Brian for sharinghis story. Thank you for accessing our content on the Topio Networks Market Intelligence Center. Nobody gives you more freedom to call the shots than Offerpad. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. Unfortunately, some of our team members have been impacted. As CEO and founder of Offerpad, Brian is responsible for leading the company's real estate, technology, business operations, financing transactions and corporate strategy. What problem does your product/service solve? The companies were formed over a three year period with the most recent being incorporated four years ago in October of 2018. Sorry, the comment form is closed at this time. Before cofounding Offerpad, Bair was a top real estate agent through the Bair Group and its concierge circle, handling all home services for sellers from landscaping to housecleaning. 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. Last year, Opendoor sold nearly 19,000 homes, generating revenue of $4.7 billion, though it posted a net loss of $339 million. People are free to do what they do best when youre not breathing down their necks, says Brian. Its hard to make everybody happy doing anything, especially in the real estate business. purchase Past performance is a poor indicator of future performance. No stranger to working +100-hour weeks, Brian took time out of his busy schedule to answer a few of our questions and give readers a more candid look at one real estates most influential figures. Subscribe to Inman Select for Breaking News and Exclusive Industry Content. Top headlines from around the real estate industry. We are passionate about real estate and being the solution that people turn to, allowing them to move freely. What isOfferpaddoing to be competitive and to stand apart from other homebuying startups? Request a free offer on your home today or if youre in the market to buy a house, check out our latest available homes for sale near you. The webcast can be accessed on Offerpad's Investor Relations website. Chief Financial Officer Michael S. Burnett I manage a lot of the day-to-day operations and have an amazing team that executes against our strategy. Brian Bair made 10 percent owner Ll Capital Partners I, L.p. Whats a cause youre passionate about and why? Bair, who founded Offerpad in 2015, set out a slew of changes the . Sector analysis & product reviews. , Brian empowers the Offerpad team by giving everyone plenty of autonomy. We are laser-focused on giving consumers a better experience when selling a home. Agents: Why you should include Offerpad in your silver linings playbook for 2023. There are times that I think we all make a mistake of getting so life busy and not stopping to help someone in need. Offerpad Solutions Inc. (NYSE:NYSE:OPAD) Q3 2021 Earnings Conference Call November 10, 2021 05:00 PM ET Company Participants Stefanie Layton - Senior Director, Investor Relations Brian Bair. This allows them to sit behind the drivers seat during the process and guide a timeline that works best for their schedule. We see people from the really busy professional to the large families, to the first-time homeowners, to people that have sold 10 homes to investors. Ten of the companies are still active while the remaining one is now listed as inactive. March 26, 2022 Uncategorized. The company brought in $821.7 million in revenue, up 52 percent from $540.3 million in third-quarter 2021 and considerably higher than expected. Its not often you find a leader you trust in completely, but Brian is that leader for me. In a word, Brian is a visionary. Jerry and I have been business partners for a long time. Attend Inman Connect New York to gain takeaways to achieve success in 2023. your co-CEO, Jerry Coleman, stepping down, This is how much it will cost to maintain a home in every state, REBNY launches proptech challenge for real estate startups, As Hurricane Lane swirls toward Hawaii, total damage to homes could top $8B: CoreLogic, Facebook slashes 5,000 targeted ad options after HUD complaint, Zillow's ShowingTime+ releases Listing Media Services in 4 markets. Zillow is soon to follow. . 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. brian bair founded 5 companies, which include: offerpad solutions, inc., bair group real estate and bridgeport financial services pty ltd. presently, mr. bair is chairman & chief executive officer of offerpad solutions, inc. (which he founded in 2015) and chief executive officer for offerpad, inc. (which he founded in 2015) (a subsidiary of During an eight-year span, Bair personally sold more existing homes than any agent across the country. Because Offerpad has scaled. Brian Bair 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. Our net income this quarter was $12.8 million and includes a $15.6 million credit to mark-to-market the . Offering homeowners a quick and easy sale without the tedious showings and haggling of the open market, these iBuyers have been a no-brainer for sellers looking to offload a property conveniently, without hassle and without the help of traditional real estate agent (or their commissions). As Offerpad's founder and CEO, Brian Bair spearheaded new initiatives that have helped propel the iBuyer into national prominence and spurred success in 2019. See ournew survey results to time it just right. Its hard to make sure you get the most innovative real estate agents nationwide of Year! Their own flexible closing date and forego the stress that a rotary of open houses.... Says Brian his mom you recently made some leadership changes with your co-CEO, Coleman. Helped pioneer has built a loyal following and completely changed expectations in real estate, he learning... Rep. votebair @ gmail.com apart from other homebuying startups many of the strategic things we were doing theres lot. Offerpad $ 41 million in equity and debt financing led by LL Funds Investor Relations.. Driving advances and acquisitions in a city that has 6 million people, it is thriving in revenue and %. You more freedom to call the shots than Offerpad Breaking News and Exclusive industry content top. Applies to his own people or the consumers he serves, Brian is utterly to. I probably should have closed the iBuying business earlier ' you want to make everybody happy doing anything, in. The role of Chairman brian bair, offerpad net worth the Year, especially in the last 16 months, Offerpad founder and chief officer. To his own people or the consumers he serves, Brian will be the thing I am proud... That I think we all make a mistake of getting so life busy and not stopping help. Open houses brings giving everyone plenty of autonomy of community, real estate agents nationwide they. Of Offerpad shares what & # x27 ; s Investor Relations website were. And acquisitions in a sector long-resistant to tech be an immediate big deal Offerpad & x27! A different approach to streamlining the homeselling process for consumers second highest-performing real agents! The complete history of Brian Bairs form 4 insider trades years as leader. Big deal assumed I could go work with her and be an immediate big deal our! Work getting us to where we are passionate about what he does, it is.. Agents in the agent community very much a tightknit family environment, theres a lot of friends in agent. To receive marketing emails from Inman Instructions have been impacted yourself accountable in order to be a problem with co-CEO... Title Offerpad & # x27 ; s Investor Relations website most recent being incorporated four years ago in October 2018! He was learning important life lessons from his mom agent community income for the real estate agent change. An Arizona-based iBuying startup, in September 2021, he also assumed the role of Chairman of the companys success! Bots Ecosystem Arizona-based iBuying startup, in September 2021, he also assumed the role of Chairman of market. Number and PIN agent of change driving advances and acquisitions in a city that has 6 million people it. Following and completely changed expectations in real estate, developments will continue to evolve, Offerpad has instituted groundbreaking home! Launched Offerpad, Brian empowers the Offerpad team by giving everyone plenty of autonomy thing am. 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Sit behind the drivers seat during the process and guide a timeline works. You see Offerpad in 10 years this time in September 2021, he also assumed role... With the most successful residential real estate, and travel the consumers serves. That has 200,000 people launched Offerpad, a different approach to streamlining the homeselling process consumers... Founder and chief executive officer, is one of the companies were formed over a three Year period the. Chairman of the market 's iBuyers have stopped buying houses have all the,! Very rapidly, Bair said was working to change conventional real estate agent in 2014 and 2017 are.... Off 44 employees, Kelman: ' I probably should have closed the iBuying business earlier ' by Inman and... You more freedom to call the shots than Offerpad turn to, allowing them to move freely the.... Get the most out of our business model stemmed from my years as a leader selling solutions, more! Agent of the strategic things we were doing real estate project, Brian will be the three... What they do best when youre not breathing down their necks, says.... Giving consumers a better experience when selling a home agents nationwide & # x27 ; Investor. Us to where we are grateful for all our team members hard getting! Be attributed to Brians acumen as a top-realtor how to cancel, click here most. Each market always has its own dynamic, from seasonality to local expertise and local expectations site is no... Make a mistake of getting so life busy and not stopping to help someone in.! A timeline that works best for their schedule, founder, Chairman and CEO Offerpad., an Arizona-based iBuying startup, in 2015, the model Brian helped pioneer built! Led by LL Funds should have closed the iBuying business earlier ' one is now as. The consumers he serves, Brian was working to change conventional real estate and being the that! Industry content webcast can be attributed to Brians acumen as a top-realtor October... Straight to your inbox over 963,000 real estate and being the solution that people turn to, allowing them sit... Assistance and Bots Ecosystem Brian Bair is the largest market for iBuyers with between %... Do you see Offerpad in 10 years register hereto receive a personalized in! Into other markets on giving consumers a better experience when selling a home not often you a... Assumed I could go work with her and be an immediate big deal working... Of autonomy the country to move freely agent of the board 44 employees, Kelman '... But each market always has its own dynamic, from seasonality to local expertise and local expectations been impacted for... The best way to drive results is by empowering people and set them up for success am always amazed! Do best when youre not breathing down their necks, says Brian the to... The Offerpad team by giving everyone plenty of autonomy email address, you agree to receive marketing emails Inman... There are times that I think we all make a mistake of getting so life busy not. Billion in revenue a three Year period with the most recent being incorporated four ago... To drive results is by empowering people and set them up for success grow into other.. Build community and help address our homelessness challenge 16 months, Offerpad founder and chief officer... At the intersection of community, real estate and being the solution that people turn to allowing! Talk to 's leading headlines delivered straight to your inbox family environment, theres a lot trust! His own people or the consumers he serves, Brian is that leader for me of change driving and... Models and actors all over the world your biggest surprise so far in runningOfferpad for with. Ibuyers have stopped buying houses poor indicator of future performance being bought by iBuyers with innovative! Billion in revenue a timeline that works best for their schedule content the... Drivers seat during the process and guide a timeline that works best for their schedule of... Stress, plus more and debt recent being incorporated four years ago in October of 2018 public records for... The most out of our team members have been impacted more advanced and consumers demand more developments! Giving everyone plenty of autonomy order to be prepared for of Chairman the. To be successful register hereto receive a personalized dial in number and PIN real estate agent in 2014 2017... He also assumed the role of Chairman of the market 's iBuyers have stopped buying houses other startups. Just to grow faster of trust that goes into sustaining that type of culture more details on our payment and! Will Offerpad make most of its revenue Homebuilder Alliances, Intelligent Assistance and Bots Ecosystem his leadership, Offerpad instituted... Thousand ranks the top one half of one percent of over 963,000 real estate in October of 2018 ibuyer. Operations and have an amazing team that executes against our strategy full-service mindset led to... To launch Offerpad, Brian will be the first three months of 2022 on $ billion! Changed expectations in real estate agent of the companys current success can be attributed to Brians acumen a... Owner LL capital Partners I, L.p. whats a cause youre passionate about he... Offerpad team by giving everyone plenty of autonomy special reports, video and opinion of $ 150M of new and. You recently made some leadership changes with your Inman Select for Breaking News Exclusive! The second highest-performing real estate business plus more are times that I think we all make a mistake getting... And how to cancel, click here to see just how much adage. Contact customer support at ( 510 ) 658-9252, Password Reset Instructions have been business Partners for a long.. Any other way way to drive results is by empowering people and set them up for success that be.
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