This blog post was updated on February 22, 2021 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 sell for more money, with less risk and in fewer days than homes listed by other brokerages. On average, homes listed by Redfin agents sold for $2,200 more than comparable homes listed by other brokerages.
Redfin listings also had a higher chance of selling, with 91.5% of listings selling within 90 days, compared to 78.3% among comparable listings across the country. And Redfin listings sold 5 days faster with an average of 35 days on market compared to 40 days for other brokerages.
Exceptional Agents, Accurate Pricing, More Exposure and Targeted Marketing
It all starts with an experienced agent. Redfin agents are local experts because they sell more homes every year than typical agents at other brokerages. Redfin surveys every client about their experience and posts all reviews on Redfin.com. This makes our agents accountable for their customers’ success.
Redfin agents provide accurate pricing recommendations based on recent local sales and homebuyer demand. They use tools like to use the Redfin Comparative Market Analysis (CMA) tool, which is built upon the same algorithm that powers the Redfin Estimate.
Redfin gives homes more exposure because Redfin.com is consistently ranked as the most-visited nationwide real estate brokerage website. Redfin listings come up first in relevant searches on Redfin.com and our mobile apps, where they are promoted in specialized ads. As a result, Redfin listings get three times more online views than other listings on Redfin.com.
In addition to maximizing exposure, we do our best to ensure that Redfin listings get in front of serious buyers who are searching for a home just like yours. We use the data we track on homebuyers’ visits to our site and apps and their home searches and Favorites to create customized, highly targeted email and online marketing campaigns for each Redfin listing.
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;
- a dedicated listing agent with experience selling homes in the local area, backed by a team of support staff who make the process run smoothly.
Make Your Home Shine with Redfin Concierge
Redfin also offers Redfin Concierge service for sellers 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. Sellers can get Concierge service for a 2% listing fee when they buy and sell with Redfin and only pay for the improvements from the proceeds of the sale. There are no upfront costs, no hidden fees, and no interest.
Stunning Marketing for Stunning Homes
Redfin Premier serves clients with exceptional homes priced over $1 million. Redfin attracts serious buyers with premium marketing materials, drone and twilight photography, and targeted advertising in international, luxury publications.
Better Service; Lower Commission
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 a fee as low as 1% for sellers who also buy with a Redfin agent**. See full terms and conditions. Check out the Redfin Home Sale Calculator to see how much you could save.
The Redfin App for Apple Watch, iPhone, iPad or Android will immediately notify interested buyers about your new property listing and enable them to schedule a tour of your home with ease. Find a Redfin agent in your area to sell your home.
How Did We Come up With These Numbers?
For each Redfin listing that came on the market between May 1, 2019 and April 30 in 2020, 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 16,930 Redfin listings and 118,225 comparable listings. Specific results for the Chicago and San Francisco markets are included below.
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 90 days. These results were validated by Precision Consulting LLC, an independent third-party data research group. The complete report is available upon request.
In the Chicago metro area, we analyzed 1,145 Redfin listings and 6,111 comparable listings. On average, homes listed by Redfin sold for $3,700 more and 8 days faster than comparable homes listed by other Chicago brokerages.
San Francisco Results
In the San Francisco metro area, we analyzed 629 Redfin listings and 3,673 comparable listings. On average, homes listed by Redfin sold for $21,700 more and 3 days faster than comparable homes listed by other San Francisco brokerages.
**Listing fee subject to market-based minimums, as outlined here. Buyer’s agent fee not included. For example, if the buyer’s agent fee is 2.5%, a seller who pays a 1.5% listing fee will pay a total fee of 4%. Listing fee increased by 1% of sale price if buyer is unrepresented. Listing fee and minimums subject to change. Sell for a 1% listing fee only if you also buy with Redfin within 365 days of closing on your Redfin listing. If you sell first, we will initially charge a 1.5% listing fee and then send you a check for the 0.5% difference after you buy your next home with Redfin.