Compare Offerpad and TRELORA

For Sellers

Cash Offers
20%
Home Equity
Offerpad does not provide real estate services to home sellers. Instead, Offerpad buys homes directly, repair and resell them to other buyers or companies that rent them to tenants. Typically an offer equal to 80% of home value is expected from this type of sale after any, fees, cost of the repairs and resale markup.

For Sellers

Listing Rate
$3,000-$4,000
Flat Fee
Minimum commissions and other terms may apply. Buyer's Agent Commission (2.5%-3%) is not included, but you may be able to negotiate this as well. TRELORA asks for a fee of $3,000 in Denver, CO and $4,000 in Seattle, WA. TRELORA’s $500 Initial Listing Fee is non-refundable.

For Buyers

Not Applicable
0
No Rates
Offerpad does not provide real estate services to home buyers. Instead, local franchisees buy homes directly, repair and resell or rent them to tenants.

For Buyers

Buyer’s Savings
$3,000-$4,000
Flat Fee
When TRELORA represents home buyers, it keeps only $3,000 in Denver, CO and $4,000 in Seattle, WA of its entire Buyer's Agent Commission (2.5%-3%), the rest of the amount is refunded to the buyer as a way to financially compete for buyer’s business. Home buyers do not pay any taxes on the amount, the refund amount is always tax-free. Minimum commissions and other terms may apply.
Question: What is the difference between Offerpad and TRELORA?
Answer: Offerpad is a direct home cash buyer that buys select homes off-market with cash offers and resells them at a profit to homebuyers while TRELORA is a full-service real estate agent that offers savings to homebuyers and home sellers
Compare Offerpad and TRELORA for home buying and selling. HomeOpenly is an impartial and an open resource focused on trending real estate services, portals and start-ups.

First published: 17 February 2019
Last updated: 25 April 2021

Buying and Selling with Offerpad

Offerpad is a direct home buyer that makes cash offers to sellers as it considers the condition of a home, improvements, home's upgrades, and required repairs.

In determining the offer, Offerpad discounts the offer amount from the estimated retail value after it’s fully renovated.

Offerpad Pricing

Offerpad makes money with fees and a difference between buying and selling each home. Offerpad claims service fees vary between 6% to 10%, plus an additional 1% to 3% of the purchase price in closing costs.

Sellers can also expect to receive an offer that has a built-in margin of 5% to 10% between the market price today and what Offerpad plans to flip the home in the open market.

In summation of all these fees, an offer equal to 80% of home value is reasonably expected from this type of sale after fees and cost of the repairs and resale.

Listing Services

  • This Service Does Not Represent Sellers

Buyer's Agent Services

  • This Service Does Not Represent Buyers

Offerpad Editor's Review:

Offerpad will buy a home at a price that is below market value due to necessary repairs, renovation, and other factors. After it buys the home, it renovates and resells it for a profit to another buyer or another company that rents it out to qualified tenants. With low offer price, comes a convenience of an all-cash closing when selling a home. Offerpad typically provides a conditional offer within 24 hours.

Offerpad will perform a free, on-site inspection of your home within 15 days of the signed conditional agreement. If Offerpad finds something it doesn't like and the sellers decline to make any requested repairs or issue a Offerpad credit it demands, Offerpad can then choose to cancel the contract or may determine that it still wants to move forward with the purchase of the home. If Offerpad elects to cancel the contract, there is no penalty to either party.

Offerpad does not make offers for most homes, it will only make offers for single-family residential homes in areas where it operates, including condos and townhomes, built after 1960, with a value of no more than $500,000-$600,000 as well as fair conditions without any major repairs required. Offerpad will not consider homes with significant foundation, structural or other condition issues.

Typically, Offerpad uses the following factors when determining the offer: existing condition of the home including repairs needed, time it will take to finish needed repairs, value of a home compared to other comparable homes in the area, real estate commission required to resell, costs associated with maintaining a home during repairs, including taxes, payments, insurance, utilities and homeowner dues.

The main disadvantage of using Offerpad is high loss in homeowners' equity. Offerpad is a "heavy" model, ready to buy homes in all-cash transactions. As any real estate investor, Offerpad is susceptible to losing money in any given transaction. Offerpad model further suffers from a "double expense" such as paying all the normal transaction costs that come with selling a home—including a commission to a buyer's agent (3%), concessions to buyer, holding costs, maintenance fees, taxes and other costs to list and market the home.

This model is prone to a number of risk factors, high operational costs and a continued need for higher-than-average Return on Investment (ROI) with each flip.

Offerpad is not legally bound to represent consumers, its main legal obligation is to its stakeholders. Moreover, because most homes in the United States are financed, homeowners own only partial net equity in their home.

Banks receive the same amount of the remaining mortgage sum regardless of how any given home is sold, or how much of homeowners' net equity is lost in the transaction with Offerpad.

Today, there are a number of highly qualified real estate agents who offer competitive listing rates and flat fee listings across the United States. Unless a situation absolutely requires a quick sale, HomeOpenly recommends that consumers first consider using a licensed real estate agent working on competitive terms to properly list their homes on the open market before turning to Offerpad option.

Where does Offerpad operate?

Offerpad currently operates in select areas across Atlanta, Charlotte, Las Vegas, Los Angeles, Orlando, Phoenix, Tucson, Tampa, Salt Lake City, and Dallas-Fort Worth..

Buying and Selling with TRELORA

TRELORA is a multi-state savings broker, offers consumers flat fee listing savings and buyer’s refunds in Denver, CO, and Seattle, WA.

TRELORA Pricing

TRELORA offers listing savings to sellers ($3,000 in Denver, CO and $4,000 in Seattle, WA - flat listing fee) and commission refunds to buyers (2.5%-3% Buyer’s Agent Commission refund minus $3,000 in Denver, CO and $4,000 in Seattle, WA - buyer representation fee.)

TRELORA’s $500 Initial Listing Fee is non-refundable.

Listing Services

  • MLS Listing
  • Zillow, Trulia, etc. Listing
  • Accept and Deliver All Offers and Counteroffers
  • Hold Open Houses
  • Professional Photography
  • Professional Floor Plans
  • Yard Signage Installation
  • Spare Key Lock-box Installation
  • Schedule Inspection Services
  • Schedule Private Showings
  • Closing Duties

Buyer's Agent Services

  • Find the Property
  • Accept and Deliver All Offers and Counteroffers
  • Recommend Other Professionals
  • Attend Inspection Services
  • Schedule Private Showings
  • Negotiate Needed Repairs
  • Closing Duties

TRELORA Editor's Review:

TRELORA is a consumer-focused flat fee real estate broker. As a listing agent, TRELORA works with a seller to prepare homes for listing, including taking professional photos, pricing home, and publishing marketing materials. TRELORA claims that its agents are in the top 1% nationwide, where every agent handles 30x the number of home sales as the industry average.

TRELORA lists all homes on the local MLS as well as typical MLS Aggregators. When self-represented buyers approach TRELORA about seller’s listing, TRELORA waives the 2.5%-3% Buyer’s Agent Commission in favor of the seller or the buyer. This allows parties to save a significant amount in buy-side commissions, but also requires the buyer to accept the potential downside of dual representation.

As a buyer’s agent, TRELORA works with buyers to find a home, schedule inspections, negotiate repairs and finalize the purchase. TRELORA offers overall great value to consumers looking to either buy or sell a home.

Where does TRELORA operate?

TRELORA currently operates in select areas across Denver and Seattle..