Redfin, a technology-powered real estate brokerage, announced that homeowners in the Houston metro area can now get a cash offer for their home from RedfinNow, a convenient and fast way to sell a home. By selling to RedfinNow, homeowners get the certainty of an all-cash offer direct from Redfin, the flexibility to pick their move-out date, and the convenience of selling without any prep work, private showings or open houses. For homes that qualify, owners have been able to get an offer in 48 hours or less and complete a sale in as few as seven days after accepting their final offer.
"RedfinNow makes home-selling simple so you can focus on what's next in your life. Skip the repairs, showings, and uncertainty of a traditional home sale and move on your timeline," said Kari Ledgerwood, the Houston Market Manager for RedfinNow. "Sellers love the convenience and certainty of an instant offer, and the service is especially popular with our move-up buyers who are able to use the cash from their current home to buy their next."
RedfinNow complements Redfin's full-service listing product for sellers who want to put their home on the open market with a local Redfin agent. RedfinNow charges a service fee of 7 percent of the sale price. For full brokerage service, Redfin charges sellers in Houston a listing fee of 1 percent. Combined with the 3 percent that sellers typically pay for the buyer's agent commission, sellers who list with a Redfin agent often pay 4 percent of the final sale price in total commission fees.
"With our brokerage and RedfinNow, we make it easy for sellers to compare what they could get for their home right now to what they could get listing on the open market with a Redfin agent," said Jason Aleem, Head of Real Estate operations for RedfinNow. "Redfin empowers sellers with the choice and transparency to decide what works best for their situation."
After purchasing a home, RedfinNow makes any necessary repairs and updates before it is put on the market to find the next buyer. RedfinNow will make it easy for buyers to tour its homes instantly. Houston buyers will be able to unlock the door with the Redfin app and self-tour RedfinNow properties seven days a week from 8 am to 8 pm, no appointment needed.
Since launching in Dallas in February, RedfinNow has grown rapidly in Texas, expanding to Austin, San Antonio and Houston. In Texas, people can now sell homes to RedfinNow, buy and sell homes with full-service Redfin agents, and get home loans with Redfin Mortgage. Texas is becoming a hub of innovation within Redfin, with agents, mortgage advisors, engineers and operations teams working to make it easier to buy, sell, finance and close on a home on one seamless platform.
RedfinNow is also available in Denver, Colorado, as well as Los Angeles, San Diego, Inland Empire and Orange County, California. RedfinNow plans to expand to additional U.S. cities this year.
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