Today, we launched Redfin Direct in Dallas, Houston, Austin and San Antonio. Redfin Direct helps homebuyers easily see and buy Redfin-listed homes without needing to contact a buyer’s agent. With Redfin Direct, buyers can make their offer more competitive by saving the seller from paying thousands in commissions to a buyer’s agent.
With our Book It Now and Direct Access technology, Redfin makes it easy for buyers to tour Redfin listings. Book It Now allows buyers to schedule a home tour with a Redfin agent with a few clicks. For most homes that Redfin owns through its RedfinNow business, homebuyers get Direct Access. They can 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, Redfin’s offer wizard guides the buyer through the process. The step-by-step online platform defines parts of the contract and arms buyers with the latest data about the local market and the most common offer terms from other Redfin buyers.
“Redfin Direct is a solution for buyers who feel confident making an offer without an agent— perhaps because they have prior homebuying experience or are working with an attorney— and they want to make their offer stronger by saving the seller money,” said Tony King, Redfin’s designated broker in Texas. “Today’s homebuyers are savvy, and we think they should be empowered to decide which option is right for them. Of course, Redfin agents in Texas will continue to help buyers who want an expert to guide and advocate for them through the transaction.”
Redfin already helps Texas sellers save money on commissions with a low listing fee, which ranges from 1 to 1.5 percent depending upon the metro area. For a median priced home of $300,000 in Dallas, a seller would save up to $12,000 by listing with a full-service, local Redfin agent and selling to a Redfin Direct buyer as compared to paying 6 percent in commission fees in a traditional transaction.
|Total Commission Fees||Commission on $300,000 home|
|Traditional Seller’s Agent + Traditional Buyer’s Agent||5-6%||$15,000 – $18,000|
|Redfin Seller’s Agent + Traditional Buyer’s Agent||3.5-4.5%||$10,500 – $13,500|
|Redfin Seller’s Agent + Redfin Direct Buyer||2-2.5%||$6,000 – $7,500|
Redfin is the First Brokerage to Offer a Complete End-to-End Solution in a Single Market
In Dallas, Houston, Austin and San Antonio, people can now buy and sell homes with full-service Redfin agents, sell their home directly to RedfinNow for cash or buy a Redfin-listed home without an agent using Redfin Direct. Buyers who need a loan can work with Redfin Mortgage to get pre-approved and Redfin’s title and settlement company, Title Forward, can handle the closing. Title Forward is currently available in Dallas with plans to expand to the other three cities in the future.
“Texas is the first state where we’re offering our complete suite of services to help Redfin’s clients make their move seamless,” said Adam Wiener, Redfin’s chief growth officer. “Redfin Direct is the latest way we’re redefining real estate in the consumer’s favor, but for years Redfin has been building all of the pieces to create a one-stop shop. By bundling services we can deliver more value at every step, and it unlocks new capabilities for our clients like the move-up buyer who can get the down payment for her next home in as little as seven days by selling her current place to RedfinNow.”
Redfin Direct first launched in Boston in March and expanded to Northern Virginia in July. We plan to bring this service to additional markets over the coming months.