In the last five years, we’ve met with and spoken to countless families, couples and individuals selling a home or buying a new one. The message is often the same. Homeowners who are looking to move into a new home have a tremendous hurdle to overcome: they need to sell their existing home before they can buy a new one. This is especially true when people are considering the purchase of a newly built home. Trying to time the sale of a current home with the construction and closing of a newly built home can put a huge strain on families, often resulting in the hassle of moving twice, the financial burden of a double mortgage, and sometimes the reality of having to put their dream home on hold.
Two years ago, we set out to remove these stressful roadblocks in new construction home purchases by pioneering a partnership program with home builders. First piloted in Las Vegas and now available in all 21 markets we operate in, the Opendoor Builder Trade In Program seamlessly lines up the sale of an existing home with the purchase of a new home built by partners in our program. In one pain-free experience, we’re empowering people to move on to the next chapter of their lives.
We’ve been proud to partner with 19 of the top 25 home builders. Lennar, Pulte, Taylor Morrison and other builders share our vision of providing more convenience and certainty for home buyers and sellers. And these partnerships have already delivered over $1.5 billion in total annualized sales for the top 25 home builders in the U.S.
Today, we’re excited to announce two additional home builder partners: Century Communities and Gehan Homes. These builders join more than two dozen other builders that have decided to partner with us this year. Like Opendoor, they take pride in providing an exceptional experience to their customers.
- A top-10 U.S. home builder, Century Communities is engaged in all aspects of the home building process under its Century Communities and Wade Jurney Homes brands. The company features versatile home designs and desirable locations across 17 states.
- Gehan Homes, an award-winning builder with new construction homes in Texas and Arizona, has also joined our program. They’ve been named Volume Builder of the Year by the Texas Association of Builders at the annual Star Awards, which recognizes excellence in the home building industry.
Our Builder Trade In Program has given thousands of customers the control and flexibility they need for a smooth transition to their new home. Anne and Jim Nash of Roseville, CA turned to Opendoor when looking to downsize to a single-level home in the area. They fell in love with a Lennar community, and realized they could get a competitive cash offer from Opendoor on their current home and seamlessly time it with a move into their new home.
“It’s probably one of the easiest transactions I’ve ever been through from start to finish.”Anne Nash
Together, we’re making it simpler, faster, more certain and more cost-effective for home sellers and buyers to unlock the value of their homes and move on to their next chapter.
Nate Harbacek is the Head of Corporate and Business Development at Opendoor.