RedfinNow Expands to Charlotte and Raleigh

Rhea-AI Summary

RedfinNow launched its iBuying service in the Charlotte and Raleigh metro areas, marking its entry into North Carolina for the first time. Homeowners can now request cash offers directly, avoiding traditional listing hassles. This year, RedfinNow has expanded to 11 new markets, totaling 29 in 14 states and the District of Columbia. Sellers can close on their homes within 10 to 90 days and choose cash offers or full-service listings with Redfin agents. The company plans to expand its buying criteria in the region.

Positive

• Launch of iBuying service in new markets, enhancing accessibility for sellers.
• Expansion to a total of 29 markets, indicating growth in service reach.
• Offers a convenient selling process, potentially increasing customer satisfaction.

Negative

• None.

RALEIGH, N.C., Sept. 30, 2021 /PRNewswire/ -- (NASDAQ: RDFN) -- RedfinNow announced its launch today in the Charlotte and Raleigh metro areas, bringing its iBuying service to North Carolina for the first time. RedfinNow gives homeowners a convenient way to sell through Redfin (www.redfin.com), the technology-powered real estate company. Sellers can request a cash offer directly from RedfinNow and sell without the hassle of preparing their home for market or accommodating open houses and private showings. So far this year, RedfinNow has expanded to 11 markets, and is now serving homeowners in a total of 29 markets in 14 states and the District of Columbia.

"The process of listing your home can be stressful, especially for sellers who also need to buy in ultra-competitive markets like Raleigh and Charlotte," said Jason Aleem, Vice President of RedfinNow. "RedfinNow is a convenient solution, allowing sellers to skip the often time-consuming work associated with listing their home and giving them the liquidity they need to make a strong offer on the next one. Cash offers also offer the flexibility to line up their closing dates, making the whole process seamless from start to finish."

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, condition and the cost of repairs. Sellers can pick their closing date between 10 and 90 days from accepting RedfinNow's offer.

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%.

"Part of what makes RedfinNow different is our ability to educate sellers on all of their options in a single conversation," Aleem continued. "Many are drawn to the certainty of our competitive cash offers, but those who still want to list on the open market for the lowest fee can do that with a local Redfin agent."

Once RedfinNow owns a home, it makes updates and then lists the home for sale on the open market. Redfin makes it easy for buyers to safely tour RedfinNow listings without an appointment. Buyers can unlock the door of most RedfinNow homes with the Redfin app and self-tour seven days a week, with or without an agent.

RedfinNow is initially making offers on single family homes and townhomes built after 1950 in select neighborhoods in Mecklenburg, Alamance, Chatham, Wake and Orange counties. In addition, the company will make offers on condos in select neighborhoods in Orange and Wake counties. It expects to expand to additional neighborhoods and property types 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 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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SOURCE Redfin

FAQ

What is RedfinNow's new service in North Carolina?

RedfinNow has launched its iBuying service in Charlotte and Raleigh, allowing homeowners to sell their homes for cash offers.

How many markets is RedfinNow currently operating in?

RedfinNow is now serving homeowners in a total of 29 markets across 14 states and the District of Columbia.

What are the benefits of using RedfinNow for home sellers?

Home sellers can avoid traditional listing hassles, receive cash offers, and choose closing dates between 10 and 90 days.

When was RedfinNow launched in Charlotte and Raleigh?

RedfinNow was launched in Charlotte and Raleigh on September 30, 2021.

What types of properties does RedfinNow purchase?

RedfinNow initially makes offers on single-family homes and townhomes built after 1950, as well as condos in select neighborhoods.