Orchard, the company that is radically simplifying home buying and selling, has expanded into three new markets: Phoenix, Portland and Seattle. This expansion marks Orchard’s entry to the Western United States after helping thousands of buyers in other parts of the country to win their dream homes.
These three markets are some of the most competitive in the country. In Portland and Seattle, homes are averaging only 5 days on the market. In Phoenix, 60% of homes are selling above asking price. The current state of the housing market has not only made it more difficult for people to buy homes, but it has also, in turn, convinced homeowners not to sell. Orchard will shake things up by empowering homeowners to unlock their equity prior to selling their homes.
“Sixty percent of homebuyers need to sell a home in order to buy their next one,” says Court Cunningham, CEO and Co-Founder of Orchard. “For many homeowners, that means moving into temporary housing, coordinating multiple moves, and navigating an extremely complicated purchase process. This stress is only magnified by the fact that most home purchases are connected to huge life events such as growing a family or relocating for a new job. At Orchard, we make home buying stress-free, fair and simple.”
Orchard’s Move First service enables buyers to win their next home with an all-cash offer and move in before they’ve sold their original home. Customers get to skip the hassle of home showings – Orchard handles getting their old home prepped and listed. Unlike with “iBuyers” who purchase a home at a discounted price, Orchard customers get top dollar when their home sells on the market, getting the best possible price with the least amount of stress. Throughout the process, buyers are able to manage their experience through one simple and intuitive online dashboard. To make the process even more seamless, buyers can choose to use Orchard Title, Orchard Home Loans, and Orchard Home Insurance.
In September 2021, Orchard announced it raised $100 million in Series D funding at over a $1 billion valuation, propelling the company to unicorn status. Since then, Orchard has doubled its geographic footprint and more than doubled its employee base. With the launch of these three regions, Orchard is now available across 13 markets.
“In every market where we operate, Orchard has hired a phenomenal team of real estate experts with decades of experience. Buyers and sellers alike will benefit from their intricate regional knowledge,” adds Cunningham. “We are thrilled to help more people in more places get their dream homes.”
In a world where buying anything has become as simple as “point, click, purchase”, Orchard is bringing that same ease to life’s biggest financial decision — buying a home. We combine brokerage, mortgage, title, and technology to make the obstacles that lie between our customers and the home of their dreams disappear. Orchard customers win their next home, skip the traditional home sale hassles, and ultimately get to enjoy the experience. Orchard is headquartered in New York City and offers its services in Arizona, Colorado, Georgia, Maryland, Oregon, North Carolina, Texas, Virginia and Washington. It’s the new way to home.
