Monday, October 2, 2017

Redfin Expands One Percent Listing Fee Markets

Seattle-based online real estate site Redfin is expanding its one percent listing fee to eighteen additional markets, the company said today. Redfin said sellers in eighteen different markets--including Portland, Oregon, a large number of counties in California, markets in Los Angeles, and among others--will pay Redfin just 1 percent of the final sale price, subject to a minimum of between $3,000 to $5,500. Redfin's fees are a significant discount to the usual 2.5 to 3 percent of a home's sale price provided to the selling agent. The lowering of price looks aimed at attracting more sellers to its online real estate platform. Redfin already was offering the one percent program in Baltimore, Chicago, Denver, San Diego, Seattle, Washington, D.C., and Northern Virginia. Redfin charges 1.5 percent listing fees elsewhere in other markets.