Redfin (https://www.redfin.com/) is a full-service real estate brokerage. The Seattle-based company was founded in 2004, and went public[4] in August 2017. Glenn Kelman is the CEO. Redfin’s business model to undercut competition is based on sellers paying Redfin a discounted fee, either 1.0 or 1.5% to list the seller’s home. This does not include an additional fee charged to the seller to compensate the brokerage representing the buyer. This latter fee usually is in the 2.0-3.0% range. Buyers who buy with Redfin also get a portion of the brokerages’ commission back (called the Redfin Rebate) that can be applied to their closing costs or in the form of a check after they close on their home tax free.
Listed below are the Redfin Fees:
- Redfin Buyer’s Agent Fee: Buyer’s agent fee subject to change. Minimum buyer’s agent commission must exceed 1% of sale price or $6,500 (whichever is greater) before deal is eligible for the Redfin Refund when available.
- Redfin Listing Fee: Listing fee subject to market-based minimums, as outlined below. Buyer’s agent fee not included. For example, if the buyer’s agent fee is 2.5%, a seller who pays a 1.5% listing fee will pay a total fee of 4%. Listing fee increased by 1% of sale price if buyer is unrepresented. Listing fee and minimums subject to change. Sell for a 1% listing fee only if you also buy with Redfin within 365 days of closing on your Redfin listing. If you sell first, we will initially charge a 1.5% listing fee and then send you a check for the 0.5% difference after you buy your next home with Redfin.
Redfin’s mission:
- The company pairs local Redfin Agents with powerful technology to get buyers into the right home, sell the current one for more, and save you thousands in fees,
- See new listings first, book home tours on demand, and sell the home for more through better marketing—all with the power of Redfin’s technology.
- Buyers get full service with a local Redfin Agent who will move mountains to get buyers what they want without the sales pressure to settle for anything less.
- Pay a 1% listing fee when customers buy and sell, and get a buyer refund. Customers save $8,600 on average.
In conclusion, Redfin is the best low cost full-service real estate brokerage.
Use Redfin when checking house sales.
Like to use Redfin app frequently for real estate.
Redfin is one of the better platform for real estate related info.
Use Redfin for checking out real estate price info.
Redfin is my go to real estate platform, very user friendly.