SEATTLE, Feb. 20, 2020 — (NASDAQ: RDFN) — Redfin, the technology-powered real estate brokerage, has launched a new offering for homes listed at $1 million and above. Redfin Premier builds on Redfin’s service for home sellers, providing specialized marketing to highlight distinguished homes and attract luxury buyers. Every Redfin Premier home will receive drone* and twilight photography, premium brochures and printed materials, and high-end yard signs. Redfin will market Premier homes with additional social media advertising campaigns, postcard mailings to attract local buyers, and international advertising to reach overseas buyers. All of these Premier services are included for Redfin’s listing fee of only 1% provided the client buys their next home with Redfin within one year.† The Premier services come in addition to a 3D walkthrough of the home, email and social media marketing, open houses, prominent placement on Redfin site, and everything that is included for all sellers who list their home with a full-service Redfin agent.
A client selling a million-dollar home would save $15,000 to $20,000 with Redfin Premier compared to a traditional 2.5% to 3% listing commission. The service is launching today in Austin, Boston, Chicago, Denver, Hawaii, Maryland, Orange County, Portland, Sacramento, San Diego and Virginia, and will be rolled out to Redfin’s other large markets over time.
Redfin Premier builds on Redfin’s sales growth in the high-end market and its track record of successfully selling luxury homes. Redfin agents sold over $1 billion in luxury real estate in 2019.”Redfin Premier is the culmination of a long-term effort to reach luxury customers,” said Redfin CEO Glenn Kelman. “Already, Redfin is a top-15 brokerage for U.S. luxury listings, and one of the only market-leaders gaining luxury share over the past five years. In that time, we’ve increased agent bonuses for high-end sales, introduced concierge service for staging and sprucing up listings, and increased the number of Redfin agents with luxury experience. Our highest-value transaction closed just last year, for a home worth more than $70 million. Luxury customers love our one-on-one personal service, our sophisticated digital campaigns to target local and international luxury buyers, and the accountability to track how those investments lead to online viewings, tours, and ultimately offers. Now with Redfin Premier, we’re investing even more in marketing each of our listings, all while saving a customer enough money in listing fees to buy a new car.
“In Orange County and San Diego, where Redfin offers its concierge program, Redfin Premier customers will get Redfin’s white-glove concierge service as part of the Premier offering. A Redfin concierge will develop a custom plan to maximize the home’s sale price and get it ready to list with services such as painting, staging and landscaping. They’ll schedule the vendors, oversee the work, and make sure the home is ready for a perfect debut. Redfin pays for all the upfront costs, which are taken from the proceeds when the home sells. Redfin ordinarily charges an additional 0.5% for the concierge service in Orange County and San Diego, but this fee will be waived for Redfin Premier clients.
Mia Simon, Redfin director of sell-side strategy, said, “Like Redfin Concierge, the idea for Redfin Premier came from our agents, who helped us design a service that gives clients with distinguished homes extra marketing and attention to sell for the highest price. Sellers at every price point deserve impeccable service, data-driven marketing, easy-to-use technology and great value for their money. With a listing fee as low as 1%, we’re proud to offer an unparalleled service for Redfin Premier clients at an incredible value.”
Redfin 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 theRedfin 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.