Redfin Expands Brokerage to Hilton Head, South Carolina

Rhea-AI Summary

Redfin (NASDAQ: RDFN) has expanded its services into Hilton Head, South Carolina, allowing local consumers to buy and sell homes with Redfin agents. The company is now providing a complete home-selling service that includes a 1% listing fee for clients selling and buying simultaneously. Additionally, Redfin's listing search has extended to cover an estimated 570 counties, now reaching over 95% of the U.S. population. Clients can access high-resolution 3D home tours and receive instant notifications on new listings, enhancing their home search experience.

Positive

• Expanded services in Hilton Head, South Carolina, tapping into the vacation home market.
• Introduced a competitive 1% listing fee for customers selling and buying homes with Redfin agents.
• Increased listing search coverage to over 95% of the U.S. population, adding 570 counties.

Negative

• None.

The company also launched listing search for an estimated 570 counties, now covering over 95% of the U.S. population

SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) — Redfin (www.redfin.com), the tech-powered real estate brokerage, today announced it has launched in Hilton Head, South Carolina. Consumers in this popular vacation destination can now buy and sell homes with local Redfin agents and use Redfin’s website and mobile app to search homes for sale, book on-demand home tours, and track their home’s estimated value with the Redfin Estimate.

“Buyers and sellers across South Carolina have enjoyed working with our agents because of our highly personalized service and technology that makes the moving process easier,” said Tammy Trenholm, Redfin’s South Carolina market manager. “Those who meet us in places like Charleston or Greenville also want to work with Redfin when they buy their vacation home or investment property. We are excited to finally offer that service to consumers who are in the second home market, as well as those who choose to call Hilton Head home.”

Redfin agents provide a complete home-selling service including pricing and staging advice, free professional photography, a 3D virtual tour, digital marketing on websites and social media, and premier placement on Redfin.com. Redfin charges a 1% listing fee when a customer sells and buys their next home with a Redfin agent, compared to the 2.5-3% listing fee that is typical of most brokerages. For customers who sell with Redfin without buying another home, Redfin charges a 1.5% listing fee, still significantly less than the typical fee. For homebuyers, Redfin makes it easy to receive instant updates the moment a new home hits the market and book a home tour with a local Redfin agent with the click of a button.

Unlike most agents who are independent contractors, Redfin agents are employees, who earn a salary, benefits and bonuses for closed sales. Redfin agents meet customers through the site and app, which lets them focus on serving their customers, rather than spending time finding new ones.

Redfin listing search now covers over 95% of the U.S. population

This year Redfin has also expanded its listing search to include an estimated 570 new counties across 15 states. Over 95% of the U.S. population can now use Redfin’s website and mobile app to search for homes for sale or rent, experience high-resolution 3D home tours, and sign up for instant updates so they know exactly when new homes hit the market or prices drop. With these additions, Redfin now provides these benefits in every county in Arizona, Indiana, Kentucky, Texas and Washington for the first time.

“Everyone deserves access to fast notifications about new listings and personalized home recommendations through Redfin, so we’re excited to have brought the site to over 95% of the population,” said Christian Taubman, Redfin’s Chief Growth Officer. “You can now use Redfin to help you move almost anywhere in the US.”

To search for homes and connect with a local Redfin agent visit redfin.com. To learn more about working at Redfin and apply for open positions visit redfin.com/careers.

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.

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, email press@redfin.com. To view Redfin's press center, click here.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005248/en/

Redfin Journalist Services:

Erin Osgood, 206-588-6863

press@redfin.com

Source: Redfin

FAQ

What recent expansion did Redfin announce in September 2022?

Redfin announced its expansion into Hilton Head, South Carolina, allowing local consumers to engage with Redfin agents for buying and selling homes.

What are the listing fees charged by Redfin for home-selling?

Redfin charges a 1% listing fee when a customer sells and buys another home with a Redfin agent, and a 1.5% fee for selling without purchasing another home.

How much of the U.S. population can now access Redfin's listing search?

Redfin's listing search now covers over 95% of the U.S. population, thanks to its expansion into 570 new counties.