Redfin joins the buying game
Having a hard time selling your home? You might want to try Redfin. The online real estate brokerage is getting into the buying game with its latest Redfin Now service.
Selling your home to Redfin
Redfin, a reduced-commission online real estate brokerage, is now offering more than just listings and agents. The company will now buy and sell real estate through its newly launched Redfin Now program.
Redfin Now functions much like Opendoor or Offerpad, allowing homeowners to sell their homes for a cash offer all online.
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Here’s how it works: Homeowners submit their house online, and a Redfin Now buyer visits the property to evaluate it. Sellers get a cash offer within 48 hours and, if accepted, can receive their cash within seven days.
Once purchased, Redfin will then prep the home, list it on Redfin’s website and sell it — presumably at a profit.
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Expanding the program
Redfin tested the Now program throughout California last year and will expand it further across the country — first in Dallas, then through Texas, Colorado and New Mexico.
According to Glenn Kelman, Redfin’s CEO, the company offers a bigger audience than other institutional buyers can offer — and that means more cash for homeowners.
“Most institutional buyers don’t have the online audience we do, and pure websites don’t have as much operational expertise,” Kelman said. “All of this should let us give homeowners more money, and buy and sell more homes. As more and more homeowners look to choose between an immediate sale and a brokered sale, offering both choices ourselves is how we can be the first company homeowners call when considering a move.”
Get today’s mortgage rates
Thinking of selling on Redfin Now and upgrading to a newer home? Then shop around and see what mortgage rates you qualify for today.
