Forgot your username? Subscribe to Inman Select for Breaking News and Exclusive Industry Content. Gurus may be added or dropped from the GuruFocus site at any time. 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. Brian previously served as co-founder and managing partner of Lexington Financial, LLC and Bridgeport Financial Services LLC, one of the largest acquisition and sales companies in the Southwest. 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. 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. 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. Simply enter the email address you used to create your account and click "Reset Password". Whether it comes to his own people or the consumers he serves, Brian is utterly devoted to empowering others. , Offerpad was started by its current CEO Brian Bair in 2015, and it went public through a . We build consumer products at the intersection of community, real estate, and travel. If you are looking for someone to invest in your Real Estate project, Brian Bair is the man you want to talk to. by Inman, and the Wall Street Journal named him the second highest-performing real estate agent in 2014 and 2017. 24:53 Where do you see Offerpad in 10 years? You recently made some leadership changes with your co-CEO, Jerry Coleman, stepping down. Weve had some amazing accomplishments and pretty big obstacles over the years. We are passionate about real estate and being the solution that people turn to, allowing them to move freely. 1 reasons our customers turn to us is because of lifestyle, theyre busy with work. In September 2021, he also assumed the role of Chairman of the board. If somebody took a paintbrush approach, they look at people who want to sell quickly or are in a distressed situation. 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. 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. Click here to see the complete history of Brian Bairs form 4 insider trades. People are free to do what they do best when youre not breathing down their necks, says Brian. To learn more, speak to your Offerpad representative or visit, Top Arizona zip codes to buy a home in 2020, Meet the Royles: How Offerpad helped a pair of empty nesters transition to their next home, Agents: Why you should include Offerpad in your silver linings playbook for 2023. Since 2015, the model Brian helped pioneer has built a loyal following and completely changed expectations in real estate. I was off and running! In less than two years the Offerpad raised $30M in equity and $230M in debt from LL Funds in order to expand its home-buying model. Maximize your shed space with these easy hacks! Brian Bair and Jerry Coleman launched Offerpad, an Arizona-based iBuying startup, in 2015. National Director of Homebuilder Alliances, Intelligent Assistance and Bots Ecosystem. I have a lot of friends in the agent community. 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. November 21, 2022 by Juliana Vasquez-Keating. Offerpad - Governance - Board of Directors Board of Directors 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. Customers that are looking for an immediate move, on average are selecting 22-days to close. 15 stories covering tech, special reports, video and opinion. You will receive additional instructions via email. In September 2021, he also assumed the role of Chairman of the board. Brian Bair, founder, chairman and CEO of Offerpad shares what's next for the Chandler-based ibuyer. I believe the best way to drive results is by empowering people and set them up for success.. 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. a net We are looking at some areas where theres nobody in those markets yet. Our expansion is going to happen very rapidly, Bair said. , Stay abreast of industry trends and network with other industry doers and entrepreneurs. There are always things I can do better and I work hard every day to improve at them. . $142 million. $150 million. Brian Bair, Offerpad founder and chief executive officer, is one of the most successful residential real estate agents in the United States. Direct home buyer and seller OfferPad announced today the closing of $150M of new equity and debt financing led by LL Funds. of 10,000 shares made by Ryan Ohara When I got out of high school, I assumed I could go work with her and be an immediate big deal. We knew the co-CEO thing was something that couldnt last forever, especially in this kind of fast-growing environment. If youd like to connect, findhim on LinkedIn here. Zillow is soon to follow. We are grateful for all our team members hard work getting us to where we are today. In 2017, Brian was awarded the Most Innovative Real Estate Agent of the Year. Opendoor, Offerpad and Redfin are re-starting their home purchases this week. When someone uploads their house, we truly want to buy their home. With Offerpad, buyers receive competitive cash offers in as few as 24 hours. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. Many people are dealt such challenging situation and I am always so amazed of how strong people are. Farm your area with an innovative program to build community and help address our homelessness challenge. Spencer Rascoff and Offerpad CEO Brian Bair spoke to Inman about the behind-the-scenes moves that led to Offerpad's decision to go public through a SPAC. A mastermind for real estate tech innovators. "Since [the second quarter], the economy, consumer. 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. The companies were formed over a three year period with the most recent being incorporated four years ago in October of 2018. 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But the consumers reaction to it has been really even more favorable than I could have ever imagined or hoped for. Agents: Why you should include Offerpad in your silver linings playbook for 2023. Stay a Night, Give a Night Matt Frankel interviews Offerpad CEO Brian Bair in the special segment from Motley Fool's Backstage program0:00 Intro to Offerpad1:02 What are some of the other services you offer to customers?2:23 What makes Offerpad different from its competitors4:25: Why is iBuying doing well in such a hot market?7:15 Is a build up of homes on your balance sheet a benefit to your business or a risk factor?08:18 Why did Offerpad choose the SPAC route instead of a traditional IPO? 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. Most agents, when they understand what were trying to do, are friendly to the concept. Thanks to Brian for sharinghis story. Thats one area where we think we have a big advantage over competitors in this space. 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. 10 percent owner Ll Capital Partners I, L.p. As Brian tells it, My mother was a very successful talent agent and one of the best business people I have ever known. See ournew survey results to time it just right. We have provided severance packages and extended health care coverage to help support those individuals through this difficult transition. We are laser-focused on giving consumers a better experience when selling a home. Meet the Real Estate Tech Founder: Brian Bair from Offerpad. One of the main reasons we did that was just to grow faster. The growth. The opportunities for the real estate industry to change are enormous. A message from our CEO Brian Bair Blog Home A message from our CEO Brian Bair November 21, 2022 by Juliana Vasquez-Keating Offerpad CEO shares internal message on November workforce reduction Team, We've had some amazing accomplishments and pretty big obstacles over the years. Brian empowers the Offerpad team by giving everyone plenty of autonomy. Enter your email address to subscribe to this blog and receive notifications of new posts by email. Offerpad now operates in more than 700 cities across the country. posted a net loss of $286 million in . 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. If thats you,please read this post then drop mea line(drew @ geekestatelabs dot com). By submitting your email address, you agree to receive marketing emails from Inman. 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. We are based in Arizona, and available in eight total markets at the moment. One of the no. Heres a look at how Brian got his start and became the leader he is today. Republican for 74th District State Rep. votebair@gmail.com. 5.63%. If so please contact customer support at (510) 658-9252, Password Reset Instructions have been sent to. 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. 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 estate's most influential figures. Has eXp done enough to shed costs and still grow in 2023? . The technology is here, but politics may stand in the way. This interview has been edited and condensed. . User promo code onward25 during checkout to save 25% on your Inman Select Membership. purchase Use Forbes logos and quotes in your marketing. The iBuyer trend is gaining ground. To subscribe to exclusive newsletters, visit your email preferences in the account settings. Our net income this quarter was $12.8 million and includes a $15.6 million credit to mark-to-market the . If a green pivot is to happen, power grids must become supergrids, continent-spanning networks that can move green energy thousands of miles. You need to hold yourself accountable in order to be successful.. Zillow and Opendoor would be better off combining to tap the $1 trillion real estate iBuying market. She wouldnt hire me until I got a job working for someone else for at least a year. Above is the net worth, insider trading, and ownership report for Brian Bair. Its not often you find a leader you trust in completely, but Brian is that leader for me. Net Worth. I believe people are good, people are caring, people are kind. 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. As CEO and founder of Offerpad, Brian is responsible for leading the company's real estate, technology, business operations, financing transactions and corporate strategy. All rights reserved. The questions of when I should sell my home, how much can I actually get for it, will I need to renovate it before putting it on the market, how long will it sit there and what double expenses may I incur, is part of the uncertainty one may face. Only 3 days left to register for Inman Connect Las Vegas before prices go up! Hes the co-founder and co-CEO of Offerpad, as well as has a background as a licensed real estate agent. Unfortunately, some of our team members have been impacted. There are times that I think we all make a mistake of getting so life busy and not stopping to help someone in need. I am passionate about people. Three years later, Coleman has moved on as co-CEO of the company, leaving Bair at the helm, but the startup is still going up against real estate giant Zillow and fellow startup Opendoor, with its $600 million in capital. If theres one thing you should know about Brian Bair its that he doesnt like being told something is unachievable. All Rights Reserved. Brian Bair. During the past 18 months, 0 shares of Offerpad Solutions Inc (OPAD) were sold and 1,050,000 shares were bought by its insiders, resulting in a net Don't miss the premier event for real estate pros. Im trying not to give too cheesy answers surprise might be a strong word, but with the public wanting this, its been a nice surprise. and It allowed Jerry to focus on the capital side and some of the strategic things we were doing. 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. What has been your biggest surprise so far in runningOfferpad? Real estate brokerage services provided by Offerpad Brokerages. Our company works directly with consumers to help eliminate the stress of selling and buying a home. Today, under his leadership, it is thriving. Offerpad Solutions' (OPAD) CEO Brian Bair on Q4 2021 Results - Earnings Call Transcript . 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. Startup OfferPad Raises $30 million in equity and $230 million in debt to upend the home sales market in competition with Opendoor. 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