Redfin Announces 1% Listing Fee Trial In San Diego

CARLSBAD — May 12, 2016 — Redfin, the next-generation real estate brokerage, today announced a trial program offering a 1 percent listing fee to San Diego home sellers who list their property with a Redfin agent, with a minimum fee of $4,500. Redfin's full service listing agents provide free professional photography, a Redfin 3D Walkthrough of the home and a comprehensive digital marketing campaign to attract buyers, at no extra charge.

Sellers in San Diego typically pay their listing agent a commission of 2.5 of the home's price. With a 1 percent listing fee, sellers working with a Redfin agent will save about $7,500 on a $500,000 home sale. San Diego joins the Baltimore, Chicago, Denver, Seattle and Washington, D.C. metro areas, where Redfin has already launched the 1 percent listing fee program. Redfin charges a 1.5 percent listing fee in the more than 75 other markets where it operates.

"Redfin has built technology that lets us offer the best listing service in the industry, while still saving people thousands in fees," said Anna Nevares, Redfin district manager for the greater San Diego region. "Today's home sellers can have it all—full service, the best marketing for their home to get top-dollar, and lower fees. Not to mention our technology that creates a better customer experience at every step of the home-selling process."

For three consecutive years, Redfin has sold listings for more money, with a higher rate of success than the industry average. Specifically, homes listed with Redfin sell for an average of $3,000 more and had a higher chance of selling, with 75 percent of listings selling within 90 days, compared to 69 percent among comparable listings across the country.

Redfin publishes comprehensive information about each of its agents, including homes they have sold, areas of expertise and customer reviews, so sellers can feel confident that their agent has the local knowledge and experience that's right for them.

Redfin listings are prominently featured on Redfin.com, which is consistently ranked the most visited brokerage website in the U.S. Redfin listings are promoted in targeted display ads and emails, resulting in three times as many views on Redfin.com compared to similar listings.

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;
• open houses (as many as appropriate);
• online marketing and email campaigns targeted to buyers who are searching for similar homes;
• professionally designed print brochures for every listing;
• 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.

The 1 percent listing fee does not include buyer's agent commission, which is typically between 2 and 3 percent and paid by the seller. Homeowners who are interested in selling can visit www.redfin.com to connect with a Redfin agent and learn more about Redfin's service.

About Redfin
Redfin is the next-generation real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 80 major metro areas across the U.S. The company has closed more than $40 billion in home sales through 2016.
For more information or to contact a local Redfin real estate agent, visit www.redfin.com.