SEATTLE, Feb. 25, 2019 /PRNewswire/ -- (NASDAQ: RDFN) — Today, Redfin (www.redfin.com), the next-generation real estate brokerage, extended its 1 percent listing fee to home sellers in Philadelphia, Delaware, South Florida and Wisconsin who also buy a home with Redfin. At a 1 percent listing fee, a homeowner selling a $400,000 home will save $6,000 to $8,000 by working with a Redfin agent, as compared to working with a brokerage charging a 2.5 to 3 percent listing fee. Customers save even more when they buy with Redfin. Redfin refunds an average of $1,700 back to the buyer at closing. Customers who sell one house and buy another with Redfin save an average of $8,400.
"Other brokers have offered homeowners low prices, but never with the promise of an experienced, full-service agent, professional photography, 3D virtual tour, premier placement on Redfin.com and targeted digital marketing campaigns to get your home in front of buyers via email and social media," said Karen Krupsaw, senior vice president of real estate operations. "Years of third-party data showing we sell houses faster and for more money than our competitors makes our service tough to beat at any price, but especially at a 1 percent fee."
The Redfin listing fee is subject to a minimum based on the market and does not include a buyer's agent commission, which is typically paid by the seller. In these new markets, the 1 percent listing fee applies to customers who both buy and sell with Redfin within a 360 day period. For customers who sell with a Redfin agent, but do not buy, Redfin will continue to charge a 1.5 percent listing fee, already a substantial savings. For customers who sell first, Redfin will charge a 1.5 percent listing fee upon the sale, then refund the half percent to the customer when they close on their home purchase, in addition to the Redfin buyer refund. Other one percent listing fee eligibility terms apply for clients that first sell and then buy.
"In Philadelphia, Delaware, South Florida and Wisconsin, we are rewarding our most loyal customers: those who buy and sell with Redfin," said Krupsaw. "When a customer comes to Redfin, we want to help them with their entire move, whether it's across town or across the country. Customers appreciate working with one brokerage to ensure their move, and the often tricky timing involved, is well coordinated."
Redfin's Philadelphia market includes the city and its surrounding suburbs in Pennsylvania and Delaware; it does not include southern New Jersey. In South Florida, Redfin serves the metro areas of Miami, Fort Lauderdale and Palm Beach. In Wisconsin, Redfin serves the Madison and Milwaukee metro areas.
Redfin already charges a 1 percent listing fee in many of the largest U.S. metro areas. A complete list of Redfin markets that offer a 1 percent listing fee is available here. In all other markets, Redfin continues to charge a 1.5 percent listing fee.
At a 1 or 1.5 percent listing fee, all sellers work with a dedicated, local Redfin agent who provides full service at every step of the process. Redfin publishes comprehensive information about each of its agents, including homes they have sold, areas of expertise and customer reviews, so sellers can choose an agent who has the local knowledge and experience that meets their needs.
Redfin's full-service, tech-powered listing program includes:
- An experienced listing agent accountable to deliver the best results because Redfin surveys their clients and pays agents in part based on customer satisfaction.
- A team of support staff who make the process run smoothly.
- Professional photography as well as professionally-designed and beautifully-produced print brochures.
- A Redfin 3D Walkthrough tour, letting buyers virtually walk through the home from room to room.
- Online marketing with premium placement on Redfin.com, the U.S.'s most-visited brokerage website.
- Email and digital advertising campaigns to reach the right buyers.
- A personalized Redfin Home Dashboard, so sellers can see exactly what is happening with their home sale at each stage and stay informed about everything Redfin is doing to market their home - all in one place.
- Pre-marketing of listings, where permitted by local rules, to build anticipation for the property, including tools for gathering feedback on the number of interested buyers and what price they would pay for the property.
- A thorough pricing analysis, which combines Redfin's proprietary algorithms for estimating the value of a home and the expertise of a local Redfin agent.
- Open houses, hosted by a Redfin agent, with visitors registered by our own iPad application for immediate follow-up.
The lowered listing fee in Philadelphia, Delaware, South Florida and Wisconsin is being offset by a small reduction of the Redfin refund for buyers in these markets. Buyers can continue to see the amount of the refund offered by Redfin on every home listing page.
Visit https://www.redfin.com/real-estate-agents to learn more about Redfin's service and connect with a Redfin agent in your neighborhood.
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. and Canada. The company has closed more than $85 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.