Redfin Saves Customers Over $1 Billion in Real Estate Commissions
June 03, 2021
Redfin puts the customer first by blending technology with local agents to deliver innovative service at a better value. Redfin invented map-based search, giving consumers more information about homes for sale. Then the company hired its own agents to be advocates for customers in the transaction, as employees with salary, bonuses and benefits.
Redfin agents have saved customers money on fees while delivering better results. According to a 2020 analysis, homes listed by Redfin agents sold five days faster and for
"Real estate technology companies have raised billions of dollars over the past few years, but Redfin is one of the few to have used that technology to give the person buying or selling a home a better deal," said Redfin CEO
Redfin sellers save thousands with a 1% listing fee when they sell and buy
Redfin charges a 1% listing fee when a customer sells and buys their next home with a Redfin agent, compared to the 2.5 to 3% listing fee that is typical of most brokerages. By listing with a Redfin agent, a seller of a
Redfin buyers save
When a customer buys a home with a Redfin agent, Redfin gives a portion of the commission it earns to the buyer in the form of a refund at closing. In states where the Redfin Refund is available, the average amount was
Redfin is leading efforts to make real estate fees more transparent
Redfin has led efforts to make commission data more transparent. Redfin posts its listing fees and buyer refund amounts publicly, so customers know the amount and never have to haggle. The total commission paid by all
How does Redfin calculate customer savings?
Redfin calculates seller savings by comparing the fees paid by Redfin customers to a 2.5% listing fee. Buyer savings are the sum of Redfin Refunds given to buyers.
For more information about how Redfin helps customers save, visit: https://www.redfin.com/why-redfin-how-you-save
Redfin (www.redfin.com) is a technology-powered real estate broker, instant home-buyer (iBuyer), lender, title insurer, and renovations company. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. 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 take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Since launching in 2006, we've saved customers more than
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
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Contact Redfin: Redfin Journalist Services: Alina Ptaszynski, 206-588-6863, email@example.com