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Redfin Expands Homebuying Business

Phil Hall
Aug 10, 2018
Redfin has announced the formation of Redfin Mortgage to loan money to Redfin customers buying homes

 
The Seattle-headquartered real estate brokerage Redfin has announced the expansion of its Redfin Now homebuying service into Orange County, Calif.
 
Redfin Now was introduced in January 2017 in the Inland Empire region of Southern California and was launched in the San Diego market five months later. The company said that it plans to bring Redfin Now to two more markets by the end of the year and will expand further in 2019.
 
Redfin Now charges most customers a 1 percent listing fee for a full-service listing on the Redfin website. Homeowners can get an offer within 48 hours of a Redfin Now buyer visiting the home, and receive cash for the property in as few as seven days of accepting the offer. Redfin Now then prepares the home for market and Redfin lists it online, with the goal of selling it at a profit.
 
“After more than a decade of selling homes through a combination of local service and technology, Redfin has become one of the best in the business at getting a high home price for a low fee,” said Redfin CEO Glenn Kelman. “Most institutional buyers don’t have the online audience we do, and pure websites don’t have as much operational expertise. All of this should let us give homeowners more money, and buy and sell more homes. As more and more homeowners look to choose between an immediate sale and a brokered sale, offering both choices ourselves is how we can be the first company homeowners call when considering a move.”
 
Published
Aug 10, 2018
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