RedfinNow Brings Cash Home Offers to Chicago

Rhea-AI Summary

RedfinNow has launched in the Chicago metro area, enabling homeowners to sell their properties directly for cash without repairs or showings. This service, part of Redfin's innovative offerings, allows sellers to compare traditional listing with a quick cash sale. Homeowners can access cash offers based on local market insights, enhancing their selling options. RedfinNow is now available in 25 markets across 11 states and the District of Columbia, aiming to provide flexibility to homeowners in this competitive market.

Positive

• Launch of RedfinNow in Chicago expands cash offer option for homeowners.
• RedfinNow allows a hassle-free selling process without home repairs or showings.
• Service enhances flexibility for move-up buyers in a competitive market.

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• None.

CHICAGO, August 3, 2021 /PRNewswire/ -- (NASDAQ: RDFN) -- RedfinNow launched today in the Chicago metro area. RedfinNow gives homeowners a convenient new way to sell a home with Redfin (www.redfin.com), the technology-powered real estate company. Sellers can request a cash offer and sell to RedfinNow directly without fixing up their homes or dealing with showings and open houses. Redfin has offered agent service in Chicago since 2008 and is the first major iBuyer to launch in the market. Sellers can now compare listing their home on the open market with a local Redfin agent to a convenient cash sale to RedfinNow.

"With a cash offer from RedfinNow, homeowners have certainty and control over exactly when they sell and can avoid the stress of preparing their home for sale and the hassle of tours and open houses," said Jason Aleem, vice president of RedfinNow. "RedfinNow is like having an 'easy button' to sell your home, and that's appealing to lots of homeowners, whether they need to relocate quickly for a new job, have an investment property to sell from afar, want to limit in person interactions in the selling process, or simply desire more control and flexibility. It's also valuable for move-up buyers in this hyper-competitive market because they can use the cash offer for their current home to make a strong offer for their next home and line up the closings so they only need to move once."

RedfinNow is available today to consumers in 25 markets in 11 states and the District of Columbia. For sellers who prefer to list their home on the open market, Redfin's local real estate agents provide a full-service offering for a listing fee as low as 1%.

"What homeowner isn't curious about what they could get for their home right now, in its current condition?" continued Aleem. "With a no-obligation cash offer, we make it easy to compare your selling options and choose what works best for your situation. Expanding RedfinNow is part of our strategy to give homeowners multiple ways to sell, providing excellent service, technology and value regardless of whether they list with an agent or take the cash offer. With our recent expansions into major population centers, we estimate that nearly 4 out of 5 sellers who are interested in selling with Redfin in the U.S. will now have the option of getting a RedfinNow cash offer too."

To request a cash offer, homeowners visit www.redfin.com/now, type in their address and provide some basic information about their home. RedfinNow uses local insight and its proprietary machine-learning algorithms to make a competitive cash offer based on the home's location and condition. Sellers can pick their closing date between 10 and 90 days from accepting RedfinNow's offer. Once RedfinNow owns a home, it makes updates and then lists the home for sale on the open market.

The company is initially making offers on single family homes, condos and townhomes built after 1880 in Arlington Heights, Mt. Prospect, Edgebrook, Edison, Norwood, Park Ridge, Avondale, Jefferson Park, Lincoln Square, North Center, North Mayfair, Old Irving, Portage Park, Rogers Park, Sauganash, and West Ridge. RedfinNow expects to expand to additional neighborhoods in the region over time; the buying parameters are subject to change.

To learn more about RedfinNow and to request an offer for your home, visit www.redfin.com/now.

About Redfin
Redfin (www.redfin.com) is a technology-powered real estate broker, instant home-buyer (iBuyer), lender, title insurer, and renovations company. 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. 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 4,100 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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SOURCE Redfin

FAQ

What is RedfinNow and when did it launch in Chicago?

RedfinNow launched in Chicago on August 3, 2021, allowing homeowners to sell their homes for cash without repairs or showings.

How does RedfinNow benefit homeowners in Chicago?

RedfinNow provides homeowners with a convenient cash offer option, eliminating the stress of traditional home selling methods.

In how many markets is RedfinNow available?

RedfinNow is available in 25 markets across 11 states and the District of Columbia.

What types of properties does RedfinNow purchase?

RedfinNow initially makes offers on single-family homes, condos, and townhomes built after 1880 in specified neighborhoods.