Redfin Direct Expands to Northern Virginia, Giving Unrepresented Homebuyers the Option to Buy Redfin Listings Online

SEATTLE, July 9, 2019 /PRNewswire/ -- (NASDAQ: RDFN) — Redfin (www.redfin.com), the technology-powered real estate brokerage, announced the launch of its Redfin Direct service in Northern Virginia. Redfin Direct helps unrepresented homebuyers tour, make offers and buy Redfin-listed homes. With Redfin Direct, homebuyers can make their offer more competitive by helping the seller avoid paying a buyer's agent commission, which is often 2.5 to 3 percent of the sale price.  Redfin Direct first launched in Boston in March and the company plans to launch this feature in additional markets this year.

For Redfin-listed homes in Boston and Northern Virginia, buyers have the option to work with an agent or to buy unrepresented and make an offer using a step-by-step online tool created by Redfin. The offer tool uses technology to guide the buyer through the offer process, defining the parts of the contract and arming buyers with data about the market and the most common offer terms from successful Redfin buyers.

Redfin already helps sellers in Northern Virginia save money on commissions with its 1 percent listing fee service. A Redfin seller who accepts an unrepresented offer will pay a total commission of 2 percent (1 percent listing fee plus additional 1 percent transaction fee), as compared to the 5 or 6 percent that sellers working with traditional agents often pay.

"Not only does Redfin offer full-service for a low listing fee, but we're the only brokerage with a strategy to help our sellers save money on the buyer agent commission too," said Jim Sandidge, Redfin's principal broker in Northern Virginia. "These savings, combined with the expertise from our local agents is tough to beat. Add the professional photography, interactive 3D scans and premium digital marketing we offer for every Redfin-listed home, along with our technology that streamlines the experience and you've got a home-selling service unlike anything else available."

"The majority of buyers want to work with an agent to guide them through the homebuying process, and Redfin's agents will continue to do just that," Sandidge continued. "Redfin Direct is simply a new option designed for the population of buyers who feel comfortable making an offer and negotiating for themselves, perhaps because they have prior homebuying experience or they want to make their offer stronger by helping the seller save money."

For more information about Redfin Direct visit www.redfin.com/direct.

About Redfin
Redfin (www.redfin.com) is a technology-powered 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 for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 90 major metro areas across the U.S. and Canada. The company has helped customers buy or sell homes worth more than $85 billion.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, subscribe here. To view Redfin's press center, click here.

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SOURCE Redfin

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