Offerpad (NYSE: OPAD), a leading real estate solutions provider, continues to strengthen its portfolio with the growth of its B2B Renovate program, which has emerged as a significant revenue driver for the company. Building on Offerpad’s long-standing expertise in acquiring, renovating, and selling its own properties, the expansion of its renovation services to institutional investors and local operators underscores the company’s ability to balance and diversify its business model.

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Offerpad has spent years refining its renovation processes, completing tens of thousands of home transformations across the country. The company’s experienced in market field teams and proprietary renovation technology enable efficient project execution, allowing Offerpad to meet the needs of a diverse range of partners. Recent partnerships with organizations such as Freddie Mac and Fannie Mae further validate the strength and reliability of Offerpad’s B2B capabilities.

"Our Renovate program continues to demonstrate strong momentum, serving a growing range of partners while leveraging Offerpad’s deep real estate expertise," Vaughn Bair, Offerpad Chief Real Estate Officer. "By expanding our renovation services, we are further diversifying our business and creating new revenue opportunities that complement our direct-to-consumer and agent-driven acquisitions."

During the fourth quarter of 2024, Offerpad Renovate delivered another strong performance, completing 187 projects and generating over $4 million in revenue. For the full year, the program brought in $18 million in revenue, up 49% year-over-year. The average revenue per renovation also saw significant growth, increasing from $11,000 to over $22,000, reflecting Offerpad’s expanded service offerings and the onboarding of new clients.

Offerpad Renovate’s growth aligns with the company’s broader strategy to enhance operational efficiencies while providing flexible solutions for real estate partners. As the program continues to scale, Offerpad remains focused on optimizing its renovation services to drive long-term, sustainable growth.

For more information about Offerpad and its B2B Renovate program, visit www.offerpad.com/renovate.

About Offerpad

Offerpad, dedicated to simplifying the process of buying and selling homes, is a publicly traded company committed to providing comprehensive solutions that removes the friction from real estate. Our advanced real estate platform offers a range of services, from consumer cash offers to B2B renovation solutions and industry partnership programs, all tailored to meet the unique needs of our clients. Since 2015, we have leveraged local expertise in residential real estate alongside proprietary technology to guide homeowners at every step. Learn more at www.offerpad.com.

Cortney Read Chief of Staff & VP, Operations press@offerpad.com

Offerpad Solutions (NYSE:OPAD)
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