SEATTLE - Redfin (NASDAQ: NASDAQ:RDFN), the technology-powered real estate company, announced today the expansion of its Sign & Save program to more than a dozen new markets, including major cities such as Chicago, Los Angeles, and San Francisco. This program offers homebuyers a refund of 0.25% to 0.5% of the purchase price upon closing when they commit to working with a Redfin agent early in the home-buying process.
Launched in a few markets in September 2023 and expanded in January 2024, the Sign & Save program is now available to Redfin's customers nationwide, with the exception of states where commission refunds are prohibited. The program is designed to incentivize buyers to establish a formal relationship with Redfin agents by signing a buyer agency agreement before the second home tour. If a customer goes under contract within 180 days of signing and closes on the property, they are eligible for the refund.
Jason Aleem, Redfin’s senior vice president of real estate operations, emphasized that Sign & Save not only benefits customers financially but also educates them on real estate commissions and the home buying process. He stated that the expansion of the program supports the company's growth and drives more sales for their agents.
The standard refund under the Sign & Save program is 0.25% of the home's purchase price. For instance, a homebuyer purchasing a $500,000 property would save $1,250. Redfin also offers a higher refund of 0.5% for luxury homes purchased through its Premier service. A customer buying a $2 million Premier home would receive a $10,000 refund.
Redfin's initiative to offer such refunds is part of its broader mission to make real estate more consumer-friendly by providing brokerage, rentals, lending, title insurance, and renovation services. The company runs the country's top real estate brokerage site and has been known for helping customers save on fees while providing access to top agents and on-demand home tours.
The Sign & Save program's eligibility is subject to certain conditions, including minimum buyer agent commission and approval from lenders and sellers.
This information is based on a press release statement from Redfin.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.