Redfin Expands ‘Sign & Save’ Program Nationwide
(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 [email protected]. To view Redfin's press center, click here.
Redfin-F
View source version on businesswire.com: https://www.businesswire.com/news/home/20240312473380/en/
