Keller Williams Expands Its iBuying Partnerships
June 25, 2020
Keller Offers, the iBuying division of Keller Williams, will no longer have an exclusive agreement with Offerpad and will increase the number of its major funding partners for its instant offer program to home sellers. Keller Offers says its goal is to give homeowners more choices by providing multiple cash offers on a seller’s property.
Following the coronavirus outbreak in the U.S. in mid-March, several iBuying giants temporarily suspended operations, including Opendoor and Offerpad as well as brokerage-led iBuying programs like Realogy’s RealSure and Redfin’s RedfinNow. The companies held off on making instant offers on sellers’ properties as the nation responded to the pandemic.
Keller Williams has been in an exclusive agreement with Offerpad, one of the nation’s largest iBuyers. Earlier this month, Offerpad announced it was expanding its services beyond instant cash offers to also give sellers an opportunity to list homes publicly through its newly launched Real Estate Solutions Center. If sellers choose to sell their home publicly, they can still do so through Offerpad by taking a more traditional route and listing with one of its real estate agents. Or sellers can accept an instant cash offer on their home to sell immediately.
While Keller Offers will still work under a limited partnership with Offerpad, it will begin to use other funding partners to support its iBuying program. However, Keller Williams has not disclosed the names of its new funding partners.
“We’ve diversified our funding sources and partners in the best interest of our agents and consumers,” says Gayln Ziegler, COO of Keller Offers. “Our goal working with multiple funding partners is to also provide more than one cash offer a property.”
Keller Offers launched in May 2019 in Dallas/Fort Worth. It’s now available in 21 markets nationwide. Sellers have a choice to list their home publicly with a real estate agent or have an agent guide them through selling their home instantly and accepting an instant cash offer.
Keller Offers is set to expand further in 2020. In the next six months, it plans to expand into Denver, Oklahoma City, and Nashville.
Updated: July 01, 2020