Wednesday, April 29, 2015

Redfin: Last Call Generates Multiple Offers, Bidding Wars

Seattle-based Redfin says that its new "Last Call" feature--which emails and informs people who have browsed a home that an offer has been submitted--is spurring a jump in multiple offers on homes through the service. Redfin said that over the past three month, instead of the usual 49 percent of homes which see multiple offers through its service, it is now seeing 60 percent when a "Last Call" is issued--resulting in many homes being sold well over the offering price. Redfin had launched its Last Call feature back in February.