Frequently Asked Questions

Redfin is an online service for consumers to make an offer on a home and save money. Our service includes an online application called the Offer Wizard, expert advice from local experienced real estate agents, and support for every step of the closing process. Unlike traditional real estate agents, we back our service with a 100%-satisfaction guarantee.

Yes, of course! Redfin agents guide you through the entire process of making an offer and closing on a property. Our agents are local, experienced, offer-making experts who have successfully closed at least 20 transactions, earn far more than the industry average, and are paid based on customer satisfaction. You can meet a local Redfin agent at one of our home-buying classes.

• Visit Redfin Forums, our online message board for real estate dreamers and deal junkies
• Take one of our local home-buying classes

You bet! It happens all the time in fact. You can call 877-973-3346 and schedule an appointment, or join us at one of our home-buying classes. Once you have been assigned to an agent, you'll work with that agent and his or her team the rest of the way through the offer process.

There are three main differences:

• Experience: Redfin only hires agents who have closed at least 20 transactions. This ensures that you get experienced agents on every transaction.
• Closing Focus: While traditional agents spend much of their time looking for new customers, Redfin agents spend nearly all of their time closing deals.
• Customer Commitment: Redfin agents' incentives are based on customer satisfaction, not on how much you pay for a home. A Redfin agent does not make more money when you pay more money.

You can read a complete side-by-side comparison of Redfin agents and traditional agents.

In major metropolitan areas, Redfin offers direct service from a real estate agent who is an employee of Redfin. Redfin's agents earn a bonus based exclusively on the customer satisfaction of each client with whom we do business. In areas where we don't employ our own agents, we can refer you to a partner agent. It is always clear on our site when you are choosing to work directly with Redfin and when with a Redfin partner. And it is always your choice. No one will call or email except at your request. With direct service, Redfin employs a team approach with one lead agent to handle advice and negotiations, using field agents to help with tours. The partner agent, on the other hand, provides one-on-one support from beginning to end.

Negotiating is our agents' primary focus. Your Redfin agent will counsel you on how to structure an offer and on what price to pay for a home. Your agent will also represent you in all negotiations with the seller.

After its first year of representing buyers in Seattle, Redfin measured its negotiating capabilities and found that its agents on average negotiated a better deal than traditional agents, above and beyond its commission refund.

Agent office hours are from 9 a.m. - 6 p.m. local time on weekdays and from noon to 6 p.m. local time on weekends. When you call outside these hours, please leave us a voicemail and we will get back to you first thing the next business day.

When you initially submit an offer to the seller, your Redfin agent will work until the offer is countered, accepted or rejected. Once you begin working with one of our agents, you can usually reach that agent directly by his or her direct line or cellular telephone.

Anyone who meets the following conditions can use Redfin to buy a home:

• You must be pre-qualified to borrow the amount needed to buy the property.
• You cannot have a current buyer's agency contract with another real estate agent.
• You cannot simultaneously have an open offer on another property.
• You must have access to a fax machine, the Internet, and email.
• You must sign the Redfin Buyer's Agency agreement.

Just call us up or click to email us. We'll never bother you again.

If an agent has already helped you find a property, Redfin recommends that you make an offer through that agent. If you believe your agent is not delivering the value you expect, you can end your relationship with that agent and use a Redfin agent. In the event you signed a buyer's agency agreement, you must first inform your agent in writing of your decision. Please read this agreement carefully to ensure there are no other obligations to the agent following termination; if you are unsure about the terms of the agreement, you can call us, or consult with an attorney. If you have not signed a buyers' agency agreement, you can inform the agent of your decision in any way you like.

Redfin lets you make offers on most listings in California, Illinois, Maryland, Massachusetts, New York, Virginia, Washington, DC or Washington state. Once you submit an offer online, a Redfin agent will call you back to discuss the price and contingencies.

Redfin focuses on condominiums, An apartment you own, as opposed to rent. Condo developments are managed by a homeowner's association that collects monthly dues, maintains operations and enforces policy. single-family residences, The most common type of home listed in the MLS. Also known as single family detached, this means the home is a stand alone structure with its own lot. and 2-4 unit multi-family residences. A type of home or building with multiple units owned by one or more parties. As duplex is a type of multi-family home where more than one party can own units. Redfin does not support offers on the following types of properties:

• Foreclosed homes not listed in the MLS
• Short-sales
• For-sale-by-owner homes
• Vacant land
• Multi-family buildings with 5+ units
• Tenancies in common An arrangement where two or more people, related or not, hold joint ownership of a home. Each owner's name will be on the title and they can decide how they want to divide ownership of the home.
• Estate and probate sales A legal process in which a court will oversee the settlement of an individual's estate after their death.
• Properties zoned for commercial use
• Parking and moorage
• Timeshares
• Mobile homes
• Homes you want to rent or lease instead of buy

Certainly! Make sure you indicate that you're working with Redfin when you visit the sales office so that we can negotiate on your behalf and you can get a commission refund. If you have any questions, or if the developer requires an agent to be present on your first visit, give us a call. More about new construction.

We don't support offers on For-sale-by-owner homes because there's no commission on those homes, so we can't take our normal fee of 1/2 of the commission. At some point we may support offers on these homes for a flat fee.

Occasionally, a seller will list her home on a for-sale-by-owner (FSBO) site, then decide to hire a listing agent to sell the property. In these cases, Redfin will display both listing records, one from the FSBO site, and the other from the MLS used by real estate agents to share data. The MLS listing will usually display more photos and property details, but the FSBO listing may have a lower price because the seller was hoping to avoid paying commissions at all.

Redfin does not represent buyers purchasing FSBO properties directly from the owner. But we can represent you in negotiations with the listing agent on the MLS listing. Buying the MLS listing through the listing agent will usually be your only option anyway, as nearly all listing agreements are exclusive, compelling the seller to pay commissions to the listing agent.

If the listing agreement is not exclusive, you can buy the property directly from the owner without involving the listing agent, and try to get a lower price on your own. In this situation, we recommend that you hire a lawyer to prepare the offer and handle all the paperwork around contingencies. But your other option is to prepare an offer through Redfin, which will support you in negotiations, contingencies and escrow, and still allow you to recover half of the buyer's agent commission.

We don't support offers on homes in foreclosure because of the additional risk and complexity in buying them. We show homes in foreclosure on the map because the number of foreclosures in a neighborhood can have an effect on the rest of the market. However, we do support offers on foreclosed homes that are listed in the MLS.

Yes, we do service offers on foreclosed properties when the property is listed in the Multiple Listing Service (MLS) A local or regional service that compiles available real estate for sale by member brokers along with detailed information brokers and agents can access online. in all of our markets. We call these homes MLS-listed foreclosures and they show up with green icons on the search map. Once a bank owns a foreclosed home, it becomes an REO (real estate owned). Short for "real estate owned," REOs are foreclosed homes owned by banks and lenders. Usually, the bank will hire a real estate agent to list the home for sale in the local MLS shared by local brokers. Read our blog post on how to buy an REO listed in the MLS.

Foreclosed homes not listed in the MLS show up with purple icons on the map. These homes are in various stages of the foreclosure process Foreclosure is a process that transfers the right of home ownership from the homeowner to the bank or lender. A home goes into foreclosure when the owner stops paying his mortgage loan payments. and we get them from bank websites. Redfin doesn't tour or write offers on these homes since they're likely not for sale.

Redfin partner lenders are mortgage brokers who are committed to delivering a high-level of service to our clients with a focus on customer satisfaction, quick response times and easy pre-approval. To make sure they deliver great service, we survey every client who signs a mortgage application and will publish all the results in an upcoming version of the website. We hold our partner lenders accountable; if they don't perform, we'll end the partnership.

Our partner lenders pay us a fixed marketing fee, but we don't collect a referral fee or commission if you use them. We created this program to streamline the home-buying process and make getting a mortgage simpler; we don't require you to use them. Find a lender in your area.

No, absolutely not! Once you click through the Offer Wizard and submit the offer for a Redfin agent to review, the agent calls you to go over all the terms and then prepares a document for you to sign and send back to Redfin. You're under no commitment, and nothing is submitted to the seller, until you put pen to paper to sign an offer.

We require only the most basic information for your offer (your contact information, the offer price, etc). We also provide guidance to answering the nitty-gritty questions. Tell us what you'd like, but feel free to skip items you're unsure of. We can figure these items out together as we talk through the offer. If you'd like to ask a question before starting the Offer Wizard:

• Visit Redfin Forums,
• Come to one of our local home-buying classes.

Typically the seller and the listing agent are delighted to get an offer from a Redfin customer. Agents from different brokerages are, of course, naturally competitive with one another, and this was especially true of Redfin when we first launched our online service. But after closing more than one thousand transactions, Redfin has developed working relationships with our counterparts at every major brokerage. Listing agents and sellers alike are motivated to take the best offer and get the property sold. Listing agents are obligated by law to present every offer to the seller. We will make 100% certain that your offer is presented in a fair, compelling way to the seller.

You should expect a round of counter-offers between you and the seller. This is where a Redfin agent really shines. Because of our high deal-flow, we have far more experience negotiating than most traditional agents.

It can take as little as 15 minutes to answer the questions in the Offer Wizard, but a first-time home-buyer should plan on spending plenty of time reading the documentation and weighing his or her options. Once Redfin receives a draft offer, we can turn it around in four hours, but that too depends in part on how quickly you can review the finalized offer, sign it and send it back to us.

• For expedited service during business hours, call us after submitting the offer or let us know beforehand that it's coming: 877-973-3346.
• To get same-day service, seven days a week, offers must be submitted by 5 p.m.
• Once we get an offer and engage in negotiations, we do not rest until our service to you is done, regardless of the hour.

A Redfin agent will contact you the following day.

No. We don't get any money until you close on a home. Just keep trying.

No. If an offer price is far below the apparent market value of the property in question, we may ask you to explain your pricing. Without a reasonable rationale, we may ask that you modify your offer.

Absolutely! A Redfin field agent meets you at each home, opening the door and answering questions, then stays with you from home to home.

When the tour's over, no one will bother you. You don't need to talk to our agents beforehand or sign up afterwards to tour with us.

Before you tour homes with Redfin, you must have a pre-approval letter for the amount of the asking price of the homes you want to tour.

No. After your home tour, we will never bother you again, except to send a customer satisfaction survey.

By touring with a Redfin agent! Many customers also attend open houses to get a feel for a neighborhood. You can find out more on the home tours page.

The listing agent's name is at the bottom of every Tour with Redfin page, which you reach from the Listing Details page. Remember, the listing agent represents the seller, not you.

We host tours on any listings on which we also support offers. Here's the list.

Redfin shows homes that are currently pending This listing is set to close and all contingencies have been fulfilled. The lender, the escrow agent or attorney are processing the loan and title documents to make sure the deal will close on time. or under contract This listing has an accepted offer, but the buyers may still need to get financing for a successful closing. and not for sale. A pending status means that the sellers of the home have accepted an offer from buyers, the deal is set to close and all contingencies Conditions included with an offer on a home that must be fulfilled before the deal can close. If a buyer or seller is unable to satisfy a contingency, then the offer on a home may become void. have been fulfilled. This is when the lender, the escrow A neutral third party or attorney that handles the exchange of money and documents once mutual acceptance is reached on an offer. agent or attorney process the loan and title A legal document listing the history of ownership of the home. A title report lists all parties with a legal claim to the property, what items need to be cleared from title before the new buyer can take possession, and if there are any easements or encroachments on the property. documents to make sure the deal will close on time. Since the chances are high that pending homes will successfully sell, Redfin chooses not to tour or write backup offers An additional offer on a home for sale where the sellers already accepted an offer. on these homes. If the deal falls through, the listing agent An individual that helps homeowners sell their home. will put the home back on the market and accept new offers. Sign up for listing alerts to get emails when your favorite homes go back on the market.

Usually, you can expect to save 1.5% of the final home price. The amount varies depending on the commission the seller offers buyer's agents. The typical commission for a buyer's agent is 2.5% or 3% of the final home price, depending on the market. Redfin keeps one half of the commission and you get the remaining half at closing.

Our minimum fee is $5,500, so if the total commission is less than $11,000, we still keep $5,500 and refund to you the rest.

If the commission is less than $5,500, Redfin will support the offer only if the list price is over $175,000. In these cases, Redfin will keep the full commission with no additional fees from you.

Homes with list prices below $175,000 don't generate a gross commission to cover our $5,500 minimum commission. We never want you to pay out-of-pocket costs to cover our agent's commission, so we choose not to tour or service properties below $175,000. Since we can't provide you with a commission refund below this price point, we suggest that you hire an attorney to help you and negotiate with the listing agent directly. To see how Redfin calculates our commission refund, please see the next question.

First, we calculate the total buyers' agent commission on the home. That's equal to the mutually-agreed purchase price of the home times the buyers' agent commission percentage. For example, a home that sells for $500,000 with a 3% commission would have a total buyer's agent commission of $15,000.

Then we refund half of that amount back to you, and keep half. In the example above, the Redfin refund to the buyer would be $7,500, and Redfin would keep $7,500. Our minimum fee is $5,500. If the seller pays less than $11,000 in commissions, we still take $5,500 as our fee.

Note that the commission refund that is shown on the Listing Details page for a home assumes that the commission is 3%. Most commonly, commissions are 3%, but in many cases they might be 2.5% or even lower. Because of MLS rules, we aren't allowed to display the real commission amount until you make an offer on the home.

Read more about how commissions work.

Redfin's partner agents have a $2,500 minimum commission. We never want you to pay out-of-pocket costs to cover our agent's commission, so we choose not to tour or service offers on homes with list prices under $100,000 at 2.5% and $83,300 at 3%.

We calculate the minimum commission by multiplying the list price by the market commission (usually 3% or 2.5%). Homes priced below $100,000 with a 2.5% buy-side commission, and $83,300 with a 3.0% buy-side commission don't generate a gross commission to meet the $2,500 Redfin partner minimum. If you are interested in buying a home below these price points, you may want to hire an attorney to help you and negotiate with the listing agent directly. Remember to have the home inspected!

When you work with a Redfin partner agent to buy your home, you'll receive a 15% commission credit. Here's how it works: for a $500,000 home with the usual 3% commission for the buyer's agent, your credit would be $2,250; for a $250,000 home, your credit would be $1,125. Read more about Redfin Partner Agents.

We'll confirm the exact commission percentage once you submit your offer. You can also call us before submitting an offer, 877-973-3346.

MLS rules do not allow Redfin to display the exact commission rates for particular properties on our website.

Redfin will work with you to figure out the best way to apply your refund; you'll be in charge of how your half of the commission is distributed.

• Unless you specify otherwise, Redfin applies your commission refund to your closing costs, so you pay less out of pocket for the home. Closing costs vary depending on the lender, size of loan, home price and timing of the closing.
• The money in excess of your closing costs will be refunded to you by check at closing. Expect to get your check 7-10 days from close of escrow. This option is subject to lender approval.
• You can also offer the seller part of the refund in exchange for a lower offer price. In this scenario, the seller gets the same amount of money in the end, but you end up paying less for the property, and the excise tax and other closing costs are lower.

The IRS has ruled that Redfin does not have to report commission refunds as taxable income.