Orchard Brokerage
Orchard Brokerage is a real estate brokerage firm that simplifies the home buying and selling process by allowing homeowners to buy a new home before selling their current one. It guarantees the sale of the customer's existing home and offers affiliated mortgage and title services.[1]
Origin
The real estate brokerage firm was co-founded by Court Cunningham and Phill DeGisi in 2017. It was initially launched under the name Perch, later rebranding to Orchard.[2]
Significance
Orchard's primary significance stems from popularizing the "buy before you sell" [3] model.[4] This approach allows homeowners to unlock the equity in their current home to make an all-cash offer on a new property, aiming to simplify the traditionally complex and stressful process of contingent sales. Orchard achieved "unicorn" status in 2021 [5] by reaching a valuation of over $1 billion after a successful $100 million Series D funding round, a milestone widely reported in business and finance publications like the New York Post and The Business Journals.[6] Real estate analysts and trade publications like Inman frequently cover Orchard as a major player in the "power buyer" segment,[7] analyzing how its technology-enabled approach competes with traditional brokerage models and other proptech firms like Opendoor and Knock. The brand’s growth and subsequent contraction also represent broader industry trends. In a neutral context, Orchard is notable as a case study in the rapid rise and market adaptation of a technology-driven real estate brokerage firm during periods of significant housing market volatility.
Jonathan Bostocky
Jonathan Bostocky is an example of a realtor here; he is a prominent worker at Orchard Brokerage who lives in Atlanta and has sold 19 homes throughout his career. He also worked for the computer company Nexsan before he entered his real estate career in 2020 and once won a trophy at Nexsan in 2012.[8]
References
- ↑ https://www.inman.com/2022/11/17/orchard-lays-off-180-workers-amid-historic-housing-disruption/
- ↑ https://techcrunch.com/2020/03/11/real-estate-platform-orchard-adds-new-features-to-home-search-portal/
- ↑ https://www.housingwire.com/articles/orchard-provides-cash-offers-for-first-time-homebuyers/
- ↑ https://therealdeal.com/new-york/2021/10/11/orchard-technologies-leases-107k-sf-at-lls-195-broadway/
- ↑ https://nypost.com/2021/10/10/real-estate-unicorn-orchard-technologies-moving-downtown/
- ↑ https://www.inman.com/2022/06/23/orchard-lays-off-nearly-100-employees-but-is-still-hiring/
- ↑ https://www.inman.com/2022/12/19/real-estate-in-2022-when-the-finally-hit-the-fan/
- ↑ https://orchard.com/agent/jonathan-bostocky#:~:text=About%20Me,move%20your%20best%20one%20yet.
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