Redfin said Tuesday it has launched its Redfin Direct service in most of its California markets, including Fresno, Inland Empire, Los Angeles, Orange County, Palm Springs, Sacramento, San Diego and Santa Barbara.
Redfin Direct allows home shoppers to buy Redfin-listed homes without needing to contact a buyer’s agent, saving the buyer’s agent commission.
Redfin allows buyers to tour Redfin listings with its Book It Now and Direct Access technology. Book It Now allows buyers to schedule a home tour with a Redfin agent with a few clicks. For the homes that Redfin owns through its RedfinNow business in Southern California, home buyers get Direct Access, which lets them unlock the door with their phone and tour properties on their own schedule, without an agent. When a buyer is ready to make an offer, the Redfin Direct offer tool guides her through the process. The step-by-step online platform defines the elements of the contract and provides information on typical Redfin seller preferences so the buyer can make the offer stronger.
“Redfin Direct is a new way to buy a home for people who are confident making an offer without an agent,” said Mark Bennett, Redfin’s state broker in California. “In a multiple offer situation, helping the seller avoid paying a buyer agent commission is one way to make your offer stand out. For the buyers who are comfortable being unrepresented, we are making it easy to make an offer online. This is just one more way Redfin is redefining real estate and helping our customers save money.”
Redfin charges a listing fee, which ranges from 1 to 1.5%, subject to minimums. For a median priced home of $650,000 in Los Angeles, a seller could save up to $26,000 by listing with a full-service, local Redfin agent and selling to a Redfin Direct buyer as compared to paying 6% in commission fees.
Redfin Direct is also available to buyers in larger markets in Massachusetts, Northern Virginia and Texas. The company plans to expand Redfin Direct to additional markets in the future.
