RedfinNow Buys Homes Directly from Sellers So They Can Move On with Less Hassle and More Certainty
Redfin Will Expand Dallas Presence by Hiring Engineers and Expanding Mortgage and Title Businesses
DALLAS, Feb. 11, 2019 /PRNewswire/ -- (NASDAQ: RDFN) -- Redfin, a technology-powered real estate brokerage, announced that homeowners in the Dallas-Fort Worth metro area can now get a no-obligation cash offer for their home from RedfinNow, a convenient new way to sell a home. By selling to RedfinNow, homeowners get the certainty of an all-cash offer, the flexibility to pick their move-out date, and the convenience of selling without any prep work, private showings or open houses. For homes that qualify, owners have been able to get an offer in 48 hours or less and complete a sale in as few as seven days. RedfinNow quietly began offering its service in Dallas in December 2018 and has already purchased six properties. RedfinNow is also available in Los Angeles, San Diego, Inland Empire, and Orange County, California, and plans to expand to additional markets this year.
"RedfinNow can be a lifesaver for homeowners who want a faster and easier way to sell a home, like the guy who just sold to us because he landed his dream job in Europe," said Mark Riede, Dallas market manager for RedfinNow. "We recently bought from a busy family that didn't have the time to get their house ready to go on the market and another family who needed the cash from their first home to buy their next. I've found many homeowners will gladly pay a slightly higher fee for the convenience and peace of mind of a cash offer and guaranteed closing date from RedfinNow."
RedfinNow charges a service fee of 7 percent and complements Redfin's full-service listing product for sellers who want to see how much they can get for their home on the open market by listing it with a local Redfin agent. Redfin charges sellers just a 1 percent listing fee. Combined with 2.5 to 3 percent that sellers typically pay for the buyer's agent commision, sellers who list with a Redfin agent pay 3.5 to 4 percent in total commission fees.
In conjunction with RedfinNow's Dallas launch, Redfin also announced plans to grow its Dallas operations and open a new office this spring in Hall Park, an office park in Frisco, Texas. Along with continuing to grow its local brokerage business and Redfin Mortgage, the company's Dallas-based lending arm, Redfin will hire engineers in Dallas. Title Forward, Redfin's Philadelphia-headquartered title and settlement company, also plans to hire title and settlement staff in Dallas. In Dallas today, people can sell their homes to RedfinNow, buy and sell homes with full-service Redfin agents, get a home loan with Redfin Mortgage, and get title and settlement services with Title Forward.
"Our rapidly growing presence in Dallas will have engineers working alongside our agents and mortgage and title teams, to bring together technology and service to deliver a complete home-buying and selling solution," said Adam Wiener, Redfin's chief growth officer. "As RedfinNow gets more efficient at buying and selling homes by integrating our mortgage and title services, we can lower the overall costs of a real estate transaction and pass additional savings on to our customers in the form of lower fees."
For homes that RedfinNow purchases, Title Forward will handle title and settlement and allow sellers to close electronically from anywhere they can get a high speed internet connection. Buyers who purchase homes from RedfinNow can choose to work with Redfin Mortgage and Title Forward to finance their purchase and close their sale for a totally seamless process at every step.
To learn more about RedfinNow and to request an offer for your Dallas home, visit www.redfin.com/now.
Redfin (www.redfin.com) is the next-generation real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 85 major metro areas across the U.S. The company has closed more than $60 billion in home sales.
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, subscribe here. To view Redfin's press center, click here.