{"id":59608,"date":"2017-10-02T04:45:25","date_gmt":"2017-10-02T11:45:25","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=59608"},"modified":"2020-10-05T13:11:50","modified_gmt":"2020-10-05T20:11:50","slug":"1-percent-listing-announcement","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/1-percent-listing-announcement\/","title":{"rendered":"One Percent Listing Fee Arrives in 18 Additional Markets"},"content":{"rendered":"
This article provides pricing information that has changed. For Redfin’s most current pricing information, please visit: redfin.com\/why-sell<\/a><\/span><\/em><\/h5>\n

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Redfin is thrilled to announce we\u2019re extending our 1 percent listing fee to home sellers in 18 additional markets. Home sellers in the following markets will pay Redfin just 1 percent of the final sale price, subject to a <\/span>minimum<\/span><\/a> of between $3,000 to $5,500.<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Market<\/b><\/td>\nMinimum Fee<\/b><\/td>\nMarket<\/b><\/td>\nMinimum Fee<\/b><\/td>\n<\/tr>\n
CA – Inland Empire<\/span><\/a><\/td>\n$3,500<\/span><\/td>\nNV – Reno<\/span><\/a><\/td>\n$3,000<\/span><\/td>\n<\/tr>\n
CA – Lake Tahoe<\/span><\/a><\/td>\n$3,000<\/span><\/td>\nNM – Statewide<\/span><\/a><\/td>\n$3,000<\/span><\/td>\n<\/tr>\n
CA – Los Angeles<\/span><\/a><\/td>\n$5,500<\/span><\/td>\nNY – Hudson Valley<\/span><\/a><\/td>\n$4,500<\/span><\/td>\n<\/tr>\n
CA – Orange County<\/span><\/a><\/td>\n$5,500<\/span><\/td>\nNY – Long Island<\/span><\/a><\/td>\n$4,500<\/span><\/td>\n<\/tr>\n
CA – Sacramento<\/span><\/a><\/td>\n$3,500<\/span><\/td>\nNY – New York<\/span><\/a><\/td>\n$4,500<\/span><\/td>\n<\/tr>\n
CA – San Diego<\/span><\/i><\/a><\/td>\n$5,000<\/span><\/i><\/td>\nOR – Portland<\/span><\/a><\/td>\n$3,500<\/span><\/td>\n<\/tr>\n
CO – Denver<\/span><\/i><\/a><\/td>\n$3,000<\/span><\/i><\/td>\nRI – Statewide<\/span><\/a><\/td>\n$3,000<\/span><\/td>\n<\/tr>\n
DC – Washington, D.C.<\/span><\/i><\/a><\/td>\n$4,500<\/span><\/i><\/td>\nTX – Austin<\/span><\/a><\/td>\n$3,000<\/span><\/td>\n<\/tr>\n
HI – Statewide<\/span><\/a><\/td>\n$4,500<\/span><\/td>\nTX – Dallas<\/span><\/a><\/td>\n$3,000<\/span><\/td>\n<\/tr>\n
IL – Chicago<\/span><\/i><\/a><\/td>\n$3,000<\/span><\/i><\/td>\nTX – Houston<\/span><\/a><\/td>\n$3,000<\/span><\/td>\n<\/tr>\n
MA – Boston<\/span><\/a><\/td>\n$4,500<\/span><\/td>\nVA – Northern Virginia<\/span><\/i><\/a><\/td>\n$4,500<\/span><\/i><\/td>\n<\/tr>\n
MD – Statewide<\/span><\/i><\/a><\/td>\n$4,000<\/span><\/i><\/td>\nWA – Seattle<\/span><\/i><\/a><\/td>\n$4,500<\/span><\/i><\/td>\n<\/tr>\n
NJ – Statewide<\/span><\/a><\/td>\n$3,500<\/span><\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/b>Italics represent markets where Redfin previously offered 1% listings.<\/span><\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Sellers typically pay their listing agent a commission of 2.5 to 3 percent of the home\u2019s sale price. With a 1 percent listing fee, sellers working with a Redfin agent will save between $7,000 and $10,000 on a $500,000 home sale. The 1 percent listing fee does not include buyer\u2019s agent commission, which is typically paid by the seller.<\/p>\n

The lowered listing fee is being offset by a reduction of the Redfin refund for buyers in the new 1 percent listing markets. Buyers can continue to see the amount of the refund, which is based on the price of the home, on the home listing page.\u00a0 The 18 new markets join Baltimore<\/a>, Chicago<\/a>, Denver<\/a>, San Diego<\/a>, Seattle<\/a>, Washington, D.C.<\/a>, and Northern Virginia<\/a>, where Redfin rolled out a trial test of 1 percent listing fees. 1 percent listings are now available to 80 percent of Redfin home sellers. Redfin will continue to charge a 1.5 percent listing fee in the other markets where it operates, which is already a significant value.<\/p>\n

\u201cThis pricing better reflects how our customers want to pay a real estate agent,\u201d said Redfin CEO Glenn Kelman. \u201cEspecially in today\u2019s hot market, the most value-conscious customer is the one selling, not buying, a home. We first tried shifting more savings from buyers to sellers nearly three years ago, with 1 percent pricing in Washington, D.C., and then later in four other markets, and our overall share gains in those markets have outpaced other Redfin markets.\u201d <\/span><\/p>\n

Every seller who works with Redfin receives the following, included in the fee, paid for by Redfin:<\/span><\/p>\n