We’re expanding our Sign & Save program to more markets, including Chicago, Los Angeles, Philadelphia, San Diego and San Francisco. With Sign & Save, homebuyers who sign up to work with a Redfin agent before the second tour can get a refund of 0.25 – 0.5% of the purchase price at closing.
“With Sign & Save, Redfin is giving consumers a better deal in real estate,” said Jason Aleem, Redfin’s senior vice president of real estate operations. “This program rewards customers who commit to working with a Redfin agent early in the process, which is helping drive more sales for our agents. Not only are we putting money back in our customers’ pocket, we’re also educating them about how real estate commissions work and how Redfin can help them win. This is good for our customers, our agents and our growth as a brokerage, which is why we’re expanding it everywhere we can.”
The program was piloted in a handful of markets in September 2023, launched in additional markets in January 2024, and is now available to Redfin’s home buying customers nationwide, except in states where commission refunds are prohibited by law: AK, IA, KS, MS, MO, OK, OR, TN. We encourage policymakers in these states to change these laws and allow commission refunds, which can help consumers save money and drive more competition and innovation in the real estate industry.
How Sign & Save Works
When a homebuyer goes on their first home tour with a Redfin agent, the agent learns about the customer’s goals, explains the benefits of working with Redfin to achieve those goals, and asks the customer to sign a buyer agency agreement. This is a contract that creates a formal working relationship between the customer and Redfin. Customers who sign up to work with a Redfin agent before the second tour and go under contract to purchase a property within 180 days of signing the agreement get a refund when they close on their new home.
The standard Sign & Save refund is 0.25% of the purchase price. An eligible homebuyer purchasing a $500,000 home will save $1,250 with Sign & Save. For customers who purchase a luxury home through Redfin’s Premier service, Redfin offers a 0.5% Sign & Save refund. For a $2 million Premier home, Sign & Save customers will get a $10,000 refund. Because Redfin earns a larger commission on a luxury home sale, it’s able to give the homebuyer a larger refund.
To learn more and get in touch with a Redfin agent, visit: https://www.redfin.com/why-buy. Sign & Save eligibility is subject to minimum buyer agent commission and lender and seller approval. More details are available here.
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