Orchard cofounder Court Cunningham says that more than 85 percent of those homes sell at a market price before the 90-day period.
Cunningham believes this is what makes Orchard a more human tech real estate platform, fully aligning the interests of the real estate agent with the buyer/seller.
When a home doesn’t sell before the 90-day period, Orchard buys the home a few points below market value through that guaranteed offer, and then makes small improvements to the home to help it sell.
This is thanks in large part to the $200 million+ debt financing Orchard secured alongside its Series A funding round, and the fact that Orchard’s data scientists can help recycle those homes (and with it, the capital) relatively quickly on the market.
Orchard also offers a title business, letting buyers close the transaction via their phone from the comfort of their home.