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Home>Redfin Expands 1% Listing Fee to 18 Additional Markets, Now Reaching 80 Percent of Redfin Customers Across 25 Markets Total

Redfin Expands 1% Listing Fee to 18 Additional Markets, Now Reaching 80 Percent of Redfin Customers Across 25 Markets Total

Redfin Expands 1% Listing Fee to 18 Additional Markets, Now Reaching 80 Percent of Redfin Customers Across 25 Markets Total

10/02/2017

Redfin Expands 1% Listing Fee to 18 Additional Markets, Now Reaching 80 Percent of Redfin Customers Across 25 Markets Total

Home Sellers Get Full Service and Save Thousands in Fees Listing with a Redfin Agent

(NASDAQ: RDFN) — Redfin (www.redfin.com), the technology-powered real estate brokerage, announced it has extended its 1 percent listing fee to home sellers in 18 additional markets. Now approximately 80 percent of Redfin’s home-selling customers will pay Redfin just 1 percent of the final sale price, subject to a minimum of between $3,000 to $5,500, depending on the market.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171002005872/en/

Redfin home for sale (Photo: Business Wire)

Redfin home for sale (Photo: Business Wire)

Sellers typically pay their listing agent a commission of 2.5 to 3 percent of the home’s sale price. With a 1 percent listing fee, sellers working with a Redfin agent will save between $7,000 and $10,000 on a $500,000 home sale. The 1 percent listing fee does not include buyer’s agent commission, which is typically paid by the seller.

The lowered listing fee is being offset by a reduction of the Redfin refund for buyers in the new 1 percent listing markets. Buyers can continue to see the amount of the refund, which is based on the price of the home, on the home listing page.

“This pricing better reflects how our customers want to pay a real estate agent,” said Redfin CEO Glenn Kelman. “Especially in today’s hot market, the most value-conscious customer is the one selling, not buying, a home. We first tried shifting more savings from buyers to sellers nearly three years ago, with 1 percent pricing in Washington, D.C., and then later in four other markets, and our overall share gains in those markets have outpaced other Redfin markets.”

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