This blog post was updated on December 14, 2022 with new home sales data. Originally published in 2016, it’s subsequently been updated annually to reflect the latest home sales data available.
We crunched the numbers once again and found that homes listed by Redfin agents are more likely to sell, and they sell for more money and in fewer days than homes listed by other brokerages. On average, homes listed by Redfin agents sold for $1,800 more than comparable homes listed by other brokerages.
Redfin listings also had a higher chance of selling, with 92% of listings selling within 60 days, compared to 89% among comparable listings across the country. And Redfin listings sold about 3 days faster than similar homes listed by other brokerages.
Better Service; Lower Fees
Redfin also charges a lower commission, which puts even more money in sellers’ pockets. Instead of a 2.5 to 3% commission, Redfin charges a fee as low as 1% for sellers who also buy with a Redfin agent. To date, Redfin has saved consumers over $1 billion in real estate fees. Check out the Redfin Home Sale Calculator to see how much you could save. More details about our listing fee and terms and conditions are available here.
Exceptional Agents, Accurate Pricing, More Exposure and Targeted Marketing
Every seller who works with a Redfin agent receives:
- free professional photography;
- a Redfin 3D Walkthrough tour, allowing potential buyers to virtually tour the home;
- online marketing and email campaigns targeted to buyers who are searching for similar homes;
- professionally designed marketing materials;
- access to the Redfin Home Dashboard, which allows sellers to track online visits to their listing and the latest competitive market conditions in their neighborhood.
Our experienced agents can price your home right and guide you through the home sale process from preparing for the market to offer negotiations to closing. Redfin agents are local experts because they sell more homes every year than typical agents at other brokerages.
Homes listed with Redfin receive targeted marketing across Redfin.com, via email, and through other online advertising platforms. As a result, Redfin listings get 50% more views across Redfin.com and the Redfin apps than comparable listings from other brokerages.
Make Your Home Shine with Redfin Concierge
Redfin also offers Redfin Concierge service for sellers in select markets who want help making updates to maximize their home value. Redfin Concierge will recommend the highest-impact updates based on your budget to make your home look amazing, online and in person. We then engage trusted vendors and professionally manage every detail of your renovation. With no additional listing fee and a reasonable project management fee, you can enjoy the benefits of Redfin’s Concierge Service in select markets*. Sellers pay for the improvements from the proceeds of the sale. Reach out to a local Redfin agent to learn more.
Stunning Marketing for Stunning Homes
Redfin Premier serves clients with exceptional homes priced over $1 million in select markets, and over $1.5 million in San Francisco. Redfin attracts serious buyers with premium marketing materials, drone** and twilight photography, and targeted advertising in international, luxury publications.
How Did We Come up With These Numbers?
For each Redfin listing that came on the market between May 1, 2021 and April 30 in 2022, we looked at a group of listings of the same home type (single-family home, condo, etc.) in the same ZIP code that were comparable in terms of list price, square footage, number of bedrooms and bathrooms, and listing date. We included all Redfin listings for which we could find at least one comparable listing in the same zip code. All told, we looked at 25,356 Redfin listings and 150,033 comparable listings.
We calculated the days on market and the price per square foot for each sold home. To determine the sale price performance advantage, we calculated the average sale price based on the price per square foot of Redfin listings versus that of comparable listings. The close rate is determined by calculating the percentage of homes listed and sold within 60 days and also 90 days. These results were validated by Precision Consulting LLC, an independent third-party data research group. The complete report is available upon request.
*Redfin covers upfront costs and pays vendors. Costs will be deducted from your home sale proceeds at escrow. If listing is canceled, improvement costs must be immediately paid to Redfin.Program details as of December 2022, and subject to change.
**Drone photos not available in areas designated as no-fly zones.
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