Redfin Expands ‘Sign & Save’ Program Nationwide
March 12 2024 - 8:00AM
Business Wire
Homebuyers can get a refund of up to 0.5% of
the purchase price back when they buy a home
(NASDAQ: RDFN) — Redfin expanded its Sign & Save program to
more than a dozen additional markets today, including Chicago, Los
Angeles, Philadelphia, San Diego and San Francisco. With Sign &
Save, homebuyers who sign up to work with a Redfin agent before the
second tour can get a refund of 0.25 - 0.5% of the purchase price
at closing.
“With Sign & Save, Redfin is giving consumers a better deal
in real estate,” said Jason Aleem, Redfin’s senior vice president
of real estate operations. “This program rewards customers who
commit to working with a Redfin agent early in the process, which
is helping drive more sales for our agents. Not only are we putting
money back in our customers’ pocket, we’re also educating them
about how real estate commissions work and how Redfin can help them
win. This is good for our customers, our agents and our growth as a
brokerage, which is why we’re expanding it everywhere we can.”
The program was piloted in a handful of markets in September
2023, launched in additional markets in January 2024, and is now
available to Redfin’s home buying customers nationwide, except in
states where commission refunds are prohibited by law: AK, IA, KS,
MS, MO, OK, OR, TN. Redfin encourages policymakers in these states
to change these laws and allow commission refunds, which can help
consumers save money and drive more competition and innovation in
the real estate industry.
How Sign & Save Works
When a homebuyer goes on their first home tour with a Redfin
agent, the agent learns about the customer’s goals, explains the
benefits of working with Redfin to achieve those goals, and asks
the customer to sign a buyer agency agreement. This is a contract
that creates a formal working relationship between the customer and
Redfin. Customers who sign up to work with a Redfin agent before
the second tour and go under contract to purchase a property within
180 days of signing the agreement get a refund when they close on
their new home.
The standard Sign & Save refund is 0.25% of the purchase
price. An eligible homebuyer purchasing a $500,000 home will save
$1,250 with Sign & Save. For customers who purchase a luxury
home through Redfin’s Premier service, Redfin offers a 0.5% Sign
& Save refund. For a $2 million Premier home, Sign & Save
customers will get a $10,000 refund. Because Redfin earns a larger
commission on a luxury home sale, it’s able to give the homebuyer a
larger refund.
To learn more and get in touch with a Redfin agent, visit:
https://www.redfin.com/why-buy. Sign & Save eligibility is
subject to minimum buyer agent commission and lender and seller
approval. More details are available here.
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate
company. We help people find a place to live with brokerage,
rentals, lending, title insurance, and renovations services. We run
the country's #1 real estate brokerage site. Our customers can save
thousands in fees while working with a top agent. 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 have our renovations crew fix it up to sell for top dollar. Our
rentals business empowers millions nationwide to find apartments
and houses for rent. Since launching in 2006, we've saved customers
more than $1.6 billion in commissions. We serve more than 100
markets across the U.S. and Canada and employ over 4,000
people.
Redfin’s subsidiaries and affiliated brands include: Bay Equity
Home Loans®, Rent.™, Apartment Guide®, Title Forward® and
WalkScore®.
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, email press@redfin.com.
To view Redfin's press center, click here.
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version on businesswire.com: https://www.businesswire.com/news/home/20240312473380/en/
Redfin Journalist Services: Alina Ptaszynski,
215-313-0754 press@redfin.com
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