Redfin Expands Redfin Next Agent Pay Plan Nationwide

All Redfin agents will now earn big commission splits with zero expenses as the brokerage builds upon strong business and recruiting results

SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) — Redfin announced today it is expanding the Redfin Next agent compensation plan nationwide. Starting October 27th, all Redfin agents will earn competitive splits as high as 75%, have virtually all business expenses covered, and get technology, support, benefits and customer introductions from Redfin.com, the #1 brokerage site in the United States.

“We’re fully committing to Redfin Next because it has played a significant role in transforming our business and propelling our growth,” said Jason Aleem, Redfin’s chief of real estate services. “Redfin Next has empowered our agents to amplify their businesses and unlocked the opportunity for them to earn more money, while also inspiring other entrepreneurial agents to join us. Having the best agents in the industry is critical to our mission to make real estate better for consumers, and with Redfin Next, we know we can continue to grow our impact.”

Redfin Next initially launched in San Francisco, Los Angeles, Orange County and San Diego in January 2024 and has expanded to additional markets over time. To date, the brokerage has recruited hundreds of talented agents in Redfin Next markets, including top producers like Gagan Singh and Sunita Merchia in San Francisco, Jin Hong in Orange County, and Jonathan Chvala in Chicago. Redfin plans to hire hundreds more agents in the coming months.

In addition to recruiting success, Redfin Next has helped Redfin’s existing agents reach exciting new milestones in their businesses. Maryam Amiri, the brokerage’s top producing agent based in Orange County, says this will be her most successful year ever. So far this year, she is on track to close more than $95 million in sales with seven figures in earnings.

“I have always made a great living at Redfin, but under Redfin Next I’m setting and exceeding goals that I never knew were possible,” Maryam said. “When I talk to other agents, they can’t believe the quality of technology, marketing, and leads I get for free through Redfin on top of the other employee benefits. Redfin understands that when those things are taken care of, I am free to focus on my customers and let my expertise shine. I’ve never been so confident in the future of my business.”

The Redfin Next plan includes:

• Big splits. Zero expenses: At Redfin, what you earn is what you keep because we cover all your necessary business expenses and cover benefits, mileage, payroll taxes and listing expenses.
• Meet over 100 customers a year: By plugging into the Redfin platform and the 49 million people who use Redfin’s app and website every month, agents can grow their business rapidly.
• Business in a box: Redfin's technology and staff handle qualifying new customers, scheduling tours, conducting follow-up tours, and coordinating sales & listings. Agents focus on closing deals for customers.
• Top-tier benefits: Redfin’s benefits package includes medical, dental, and vision insurance; fertility benefits; 401(k) employer match and employee stock purchase program.
• Define the future of real estate: Redfin puts the customer first, makes the industry more fair and transparent, and uses technology to modernize the real estate experience and make it better.

Agents in the Redfin Next plan will continue to work as employees, not independent contractors. Redfin’s unique employee agent model was built to put the customer first by ensuring agents are held to a high standard and have the support they need to deliver consistently great service. Redfin uses technology to make real estate more efficient, which is one reason Redfin has the most productive agents in the industry, closing more than twice as many transactions as the average agent every year.

Redfin is actively recruiting individual agents and teams to join the company in markets across the country. To learn more about Redfin Next and the innovative strategies driving Redfin’s growth, join us on September 26th for an exclusive webinar hosted by Jason Aleem. You can also visit our site to start a conversation about how to grow your business and career at Redfin.

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix it up to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.6 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 4,000 people.

Redfin’s subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.

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, email press@redfin.com. To view Redfin's press center, click here.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20240909804619/en/

Redfin Journalist Services:
Erin Osgood
press@redfin.com

Source: Redfin

Released September 9, 2024