AgentReal Estate

Opendoor and Lennar expand partnership to Miami

Homebuilder partnership program allows customers to combine buying, selling and closing into one transaction

National homebuilder Lennar and iBuyer Opendoor announced the expansion of their partnership into Miami on Tuesday.

Lennar, the second largest homebuilder in the U.S., has been based in Miami since 1954.

“Our strategic partnership with Opendoor underscores Lennar’s focus on implementing technology and innovation to enhance all aspects of homebuying and homebuilding,” Carlos Gonzalez, South Florida division president for Lennar, said in a statement.

Opendoor’s partnership with Lennar allows homebuyers who purchase a newly-built home from Lennar to use Opendoor’s platform to sell their current home in one digital transaction. Those who take advantage of the partnership will be able to combine selling, buying and closing into one transaction, can stay up to nine months in their current home while their new Lennar home is being built.

Low inventory conditions across the country are discouraging would-be sellers from putting their home on the market as they are unsure of if there will be anything for them to buy once their home sells.

“The Miami housing market continues to grow, and we know many buyers are interested in a brand-new, move-in ready home that they can customize to meet their unique needs,” Jay Cherry, a senior general manager at Opendoor, said in a statement. “But trying to time the sale of their current home with the purchase of their new home can be challenging and stressful. It can even lead to double mortgages, double moves, and other unexpected expenses. We’re proud to extend our partnership with Lennar to provide Miami homebuyers with a faster, more convenient, and more certain way to sell their home.”

Since it formally launched in 2017, Opendoor’s Homebuilder Partnerships division has grown to span 44 markets with partnerships in over 2,000 sales offices across the country and has provided over $2 billion in sales for Opendoor’s homebuilder partners, according to the iBuyer.

Last week, Opendoor announced that it has launched its services in the San Francisco Bay Area, the country’s most expensive housing market.

Latest Articles

HomeLight lays off 19% of workforce HW+

Just days after announcing another $115 million in financing, San Francisco real estate company HomeLight announced a layoff of 19% of its workforce.

Jun 29, 2022 By