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? With our company, its just the opposite. Brian Bair is the director & Chief Executive Officer of Offerpad Solutions Inc. Other key executives at Offerpad Solutions Inc include 10 percent owner First American Financial Corp , Chief Financial Officer Michael S. Burnett , and 10 percent owner Ll Capital Partners I, L.p. . GuruFocus.com is not operated by a broker or a dealer. Direct home buyer and seller OfferPad announced today the closing of $150M of new equity and debt financing led by LL Funds. The webcast can be accessed on Offerpad's Investor Relations website. A mastermind for real estate tech innovators. After accepting the offer, the homeowner selects their closing date, whether that is within 10 days or 80+ days, we will work with them to align with their schedule. Like many others, we must adjust the size of our operations to align with the current state of the market. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. and 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. When Brian originally envisioned a better way to buy and sell homes one that provided consumers with more convenience and certainty there was little doubt in his mind it could succeed. Please update your billing information to reactivate your membership. Those are some of the things you have to be prepared for. Website builder Luxury Presence lays off 44 employees, Kelman: 'I probably should have closed the iBuying business earlier'. Thank you for accessing our content on the Topio Networks Market Intelligence Center. Im a lifelong learner, he says. What do you want consumers to know aboutOfferpad? What has been Offerpads biggest challenge? 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. In September 2021, he also assumed the role of Chairman of the board. Three years in, the space of competition has more fierce than ever, including with Zillow entering the market. My mother had other plans, he said, laughing. We look forward to providing you with even more cutting-edge market research, as Topio Networks. Most agents, when they understand what were trying to do, are friendly to the concept. We are confident that by making responsible, yet difficult, decisions and working collectively to execute our strategy, we will navigate through this current market environment and be ready to capitalize on new opportunities when the market stabilizes. Through OfferPad and other ventures, Brian not only strives to give homeowners restored power and a hassle-free experience when it comes to home selling, he is also working to create more opportunities and jobs for the local economy. Bair, who founded Offerpad in 2015, set out a slew of changes the . Whether it comes to his own people or the consumers he serves, Brian is utterly devoted to empowering others. See ournew survey results to time it just right. She wouldnt hire me until I got a job working for someone else for at least a year. Eligibility and prices vary. What are you most excited about for your business going forward? ET. If somebody took a paintbrush approach, they look at people who want to sell quickly or are in a distressed situation. User promo code onward25 during checkout to save 25% on your Inman Select Membership. How would you compare Las Vegas, Phoenix, and Atlanta, for example? Heres a look at how Brian got his start and became the leader he is today. Jerry and I have been business partners for a long time. Offerpad was started by its current CEO Brian Bair in 2015, and it went public through a . The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. My mother was the first person to teach me life is about results., Working for Brian is truly a pleasure. Year. Unfortunately, some of our team members have been impacted. #phoenix In 2017, Brian was awarded the Most Innovative Real Estate Agent of the Year. Offerpad is very much a tightknit family environment, theres a lot of trust that goes into sustaining that type of culture. Copyright 2023 Surperformance. Republican for 74th District State Rep. votebair@gmail.com. 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. In a word, Brian is a visionary. The consumer has the same needs and the same wants wherever we go. Offerpad Solutions' (OPAD) CEO Brian Bair on Q4 2021 Results - Earnings Call Transcript . 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. If theres one thing you should know about Brian Bair its that he doesnt like being told something is unachievable. Mission Title Offerpad's Brian Bair on life with one CEO . National Director of Homebuilder Alliances, Intelligent Assistance and Bots Ecosystem. of 10,000 shares made by Ryan Ohara Brian Bair. Participants can register hereto receive a personalized dial in number and PIN. 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. March 26, 2022 Uncategorized. Brian Bair, Offerpad founder and chief executive officer, is one of the most successful residential real estate agents in the United States. What has been your biggest success or proudest moment in runningOfferpadso far? There seems to be a problem with your Inman Select Membership. I want people to succeed so we can all live a happier life! Past performance is a poor indicator of future performance. Get the week's leading headlines delivered straight to your inbox. All rights reserved. In the last 16 months, OfferPad raised more than $410 million in equity and debt. Based on ownership reports from SEC filings, as the reporting owner, Brian Bair owns 1 companies in total, including Our customers dont need to worry about showing their home and finding movers we can on that responsibility and the others mentioned above. Our expansion is going to happen very rapidly, Bair said. Our company works directly with consumers to help eliminate the stress of selling and buying a home. By submitting your email address, you agree to receive marketing emails from Inman. He has the ability to communicate accurately and passionately enough that those that hear him begin to share in that vision. Kit Merkley, customer success lead. Maximize your shed space with these easy hacks! Many of the market's iBuyers have stopped buying houses. 5.63%. Whats the mac daddy on your Turkey Day table? Increase Rate. www.vbprofiles.com is now www.topionetworks.com. The opportunities for the real estate industry to change are enormous. Offerpad is one of the most well known and funded iBuyer startups, offering buyers increased control and certainty. Consumers can take on an enormous amount of stress when selling a home. What isOfferpads relationship like with the local agents and brokers in each of its markets? Offerpad Solutions generated $6.5 million for the year 2021, company CEO, chairman and founder Brian Bair reported on an earnings call Thursday, a turnaround from the Chandler, Arizona-based company losing $23.1 million in 2020. Real estate brokerage services provided by Offerpad Brokerages. He is so passionate about what he does, it creates that culture throughout the whole office. Jennifer Hunnicutt, operations director. In South African townships oppressed because of unemployment, crime, drugs and violence, and where many of the population are suffering from HIV and Aids, this inspiring feature-length documentary. I manage a lot of the day-to-day operations and have an amazing team that executes against our strategy. Inman News, the leading publication in real estate, nominated Brian for the 2015 Inman Innovator award, one of the most coveted honors in real estate, for his focus on helping improve the real estate experience through the use of technology and innovation. We are looking at some areas where theres nobody in those markets yet. a net Other key executives at Offerpad Solutions Inc include Its not often you find a leader you trust in completely, but Brian is that leader for me. 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. Facebook Linkedin Instagram Email. 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. In September 2021, he also assumed the role of Chairman of the board. $142 million. Offerpad Chairman and CEO Brian Bair and CFO Mike Burnett will host a conference call and accompanying webcast on November 2, 2022, at 5 p.m. 16:55 What are Offerpad's efficiencies?20:28 How are iBuyers different than companies that buy distressed homes? What are you most excited about right now? 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 gurus listed in this website are not affiliated with GuruFocus.com, LLC. Phoenix is the largest market for iBuyers with between 5% and 6% of houses being bought by iBuyers. Stay a Night, Give a Night We are passionate about real estate and being the solution that people turn to, allowing them to move freely. Last year, Opendoor sold nearly 19,000 homes, generating revenue of $4.7 billion, though it posted a net loss of $339 million. In just 6 months and at 22 years old, I increased bookings by 250%. no insider transaction in Offerpad Solutions Inc (OPAD). of 0 shares. 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. Brian Bair, founder, chairman and CEO of Offerpad shares what's next for the Chandler-based ibuyer. A PAID MEMBERSHIP, PRIVATE COMMUNITY. You will receive additional instructions via email. We knew the co-CEO thing was something that couldnt last forever, especially in this kind of fast-growing environment. Offerpad founder and CEO Brian Bair When Zillow announced last week that it was shutting down its iBuying business and was desperate to offload $3.8 billion in unsold inventory, the grave. . 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. 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. Today, under his leadership, it is thriving. I felt strongly that consumers were ready and wanted this model. Offerpad Solutions, Inc. (NYSE:NYSE:OPAD) Q2 2022 Earnings Conference Call August 03, 2022 05:00 PM ET Company Participants Brian Bair - Chairman, CEO Michael Burnett - CFO Stefanie Layton.