Redfin Brings 1% Listing Fee to Nashville and Salt Lake City

SEATTLE, Oct. 10, 2018 /PRNewswire/ -- (NASDAQ: RDFN) -- Today, Redfin (www.redfin.com), the next-generation real estate brokerage, expanded its one-percent listing fee to Nashville and Salt Lake City. Redfin's home-selling customers in these areas will pay Redfin just one percent of the final sale price, subject to a minimum fee of $3,000.

Sellers who work with a Redfin agent will save $6,000 to $8,000 on a $400,000 home sale, as compared to working with a brokerage charging a 2.5 to 3 percent listing fee. The one-percent listing fee does not include a buyer's agent commission, which is typically paid by the seller.

"In the markets where we've introduced one-percent pricing, sellers have responded to the great value we offer and our share gains in those markets have accelerated. This result, coupled with our confidence that we can keep driving down how much it costs us to sell a home, has led us to extend one-percent pricing to Nashville and Salt Lake City," said Karen Krupsaw, senior vice president of real estate operations. "Other brokers have offered homeowners low prices, but never with the promise of a highly-paid, full-service agent. Our technologies for marketing the home across the Internet, and years of third-party data showing we sell houses faster and for more money than our competitors, make our service tough to beat at a one-percent price."

Sellers work with a dedicated Redfin listing agent with experience selling homes in the local area 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 every client and pays agents 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 Salt Lake City is being offset by a reduction of the Redfin refund for buyers. Buyers can continue to see the amount of the refund offered by Redfin on every home listing page. Redfin does not offer a buyer refund in Nashville due to state laws. 

Redfin already charges a 1 percent listing fee in many of the largest U.S. metro areas, including Boston, Chicago, Dallas, Houston, Los Angeles, New York City, San Francisco, Seattle and Washington, D.C.  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, which is still a substantial savings compared to typical listing fee.

In addition to its 1 percent home-selling service, Redfin offers Concierge Service to home sellers in Washington, D.C., Los Angeles and San Francisco. Redfin Concierge is designed for sellers who want more help preparing their home for the market. For a 2 percent listing fee, Redfin provides all of its standard selling services and, in addition, arranges and pays for services to get the home in shape to sell quickly, including deep cleaning and staging.

Homeowners who are interested in selling can visit www.redfin.com/why-sell to learn more about Redfin's service and connect with a Redfin agent in their neighborhood.

About Redfin
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 80 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.

SOURCE Redfin