OfferMarket considers itself a “marketplace for off-market real estate”. It believes that real estate transactions should be simple, safe, and fast, and has created a platform to accomplish those objectives. OfferMarket is based in Maryland and has markets in Maryland and some surrounding states, but also buys and sells properties across the country.
OfferMarket was founded by Daniel Sperling-Horowitz, an entrepreneur with a background in finance. The company is very new to the industry, as it was just founded in March 2020, but has already been featured in real estate publications including REtipster and The Business Journals.
OfferMarket seeks to eliminate unnecessary costs often associated with buying and selling real estate. Its technology allows it to cut down on transaction costs and operate commission free. In fact, OfferMarket doesn’t charge you (the seller) at all. Rather, the buyer who buys your house pays the company a flat $5,000 service fee at closing.
Despite being in business only a short time, OfferMarket has a helpful blog with over 25 posts already. These posts deal with subjects which include how to sell a house as fast as possible, the fastest growing cities in the United States, and "For Sale by Owner" website comparisons.
The company also has a real estate glossary page on its website where it defines over 30 real-estate-specific terms that might not be widely known to the general public, such as Certified Residential Appraiser and Mortgage Loan Originator. If you are new to the real estate industry and want to better understand the vernacular, this glossary could be very useful to you.
OfferMarket is a great platform to use for real estate wholesalers because it can connect you to thousands of potential buyers within minutes, all at no additional cost to you. You can quickly assign deals to buyers and avoid losing out on deals.
OfferMarket’s website is quite slim in terms of content and available information. We are left with a lot of questions unanswered, especially compared to the robust websites of many of the company’s competitors.
For example, we don’t know how many agents the company employs, or where they are located. This makes it hard to determine how many states are serviced by OfferMarket. Plus, we can’t find reviews for the company on our site or OfferMarket’s site, so it’s hard to know if customers have actually had successful experiences with the company.
OfferMarket’s listings cannot be easily filtered or sorted according to the type of home you are looking for, your price range, or even your location. The page is basically just a big list of every type of property available and in all different places, so this makes it very difficult to narrow down your search and find what you are looking for.
OfferMarket was founded only in early 2020, so compared to many real estate agencies, the company has very little experience. Some of OfferMarket’s toughest competitors have been in the real estate industry for decades and have built strong reputations, whereas OfferMarket is so new to the market that it’s hard for us to make a judgement call on whether the company is better at helping you buy and sell real estate than its competitors are.