Analysis Shows That Homes Listed with a Redfin Agent Sell Faster and for More Money Than Other Homes

Redfin-Listed Homes Sell Three Days Faster and for an Average $2,424 More; Customer-First Brokerage Continues to Invest in New Home-Selling Technologies

Business Wire

SEATTLE--(BUSINESS WIRE)--

Homes listed with a Redfin agent sell faster and for more money than comparable homes listed by other brokerages. In an analysis of 55,000 homes listed in 2013, Redfin (www.redfin.com), the customer-first real estate brokerage, found that homes listed with Redfin agents sold an average of 15 percent, or three days, faster and for $2,424 more than comparable homes.

With softening demand in some markets, many sellers will welcome a competitive advantage this year. “Homes that would have drawn 20 offers in two days last year are now getting just a few offers over several weeks,” said Los Angeles Realtor Eric Tan.

Redfin.com is consistently ranked as the most-visited real estate brokerage website. Redfin listings come up first in relevant searches on our site and are also promoted in targeted display ads, resulting in twice as many views as other homes. Second, Redfin provides each listing client with a customized, highly targeted email and online marketing campaign. Because Redfin agents are paid based on customer satisfaction instead of commission, we are motivated to wait with our clients for the most desirable offer.

Redfin selling clients enjoy the additional benefit of substantial savings in real estate fees. Redfin charges a lower commission, which puts even more money in sellers’ pockets. The typical commission for selling a home is about 3 percent of the home’s price. Redfin charges 1.5 percent, which means that people who list with Redfin pay an average of $6,579 less in commission. When you combine the commission savings with the higher average sales price, sellers who list with Redfin will have around $9,003 more in their pocket.

In addition to saving their clients thousands of dollars, helping them properly price their home and guiding them through the home-selling process, Redfin agents provide:

  • open houses (as many as appropriate).
  • email campaigns targeted to buyers who are searching for similar homes.
  • professionally designed print brochures for every listing.
  • a team-based approach so that someone knowledgeable about the home is always available for clients and prospective buyers.

Redfin is constantly improving existing technology and creating new features and functionality. Since early 2013, Redfin has:

  • unveiled the Redfin Price Whisperer feature in many markets, allowing home sellers to get feedback on a price before listing.
  • launched Redfin Matchmaker to recommend listings to homebuyers based on their search activity and to drive more traffic to Redfin-listed homes.
  • launched the improved Redfin Home Value Tool, a more accurate way to find out what a home is worth using self-selected comparable homes for sale in the local market.
  • constantly evolved Redfin mobile tools, to let buyers know about new listings immediately and enable them to schedule tours very quickly.

To read the full analysis of how Redfin listings fared on the market in 2013 compared with the competition, please visit: http://blog.redfin.com/blog/2014/06/faster-for-more-money.html.

If you’re thinking about selling your home this year, consider working with a Redfin agent to sell your home faster and for more money. Visit www.redfin.com to connect with a Redfin agent in your area or the Redfin Home Value Tool to start to determine your home’s current market value.

Connect with Redfin
Facebook
Twitter
Instagram
Google+
LinkedIn
Blog
Download the Redfin mobile app

About Redfin

Redfin (www.redfin.com) is a customer-first real estate brokerage that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not salespeople, earning customer-satisfaction bonuses, not commissions. Redfin.com features all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. Redfin also offers online tools that make the entire process of buying or selling a home easier and more fun. The company serves major markets across the U.S. and has closed more than $13 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider.

Contact:
Redfin Journalist Services:
Rachel Musiker, 206-588-6863
press@redfin.com

Rates

View Comments (0)