RedfinNow Launches in Atlanta and Nashville Metro Areas

Rhea-AI Summary

RedfinNow has launched its iBuying service in the Atlanta and Nashville metro areas, expanding to 27 markets in 13 states. Homeowners can request cash offers, allowing for a simplified sale process without preparing their homes for market. The service aims to aid sellers in competitive markets by providing flexibility in closing dates and budget certainty. RedfinNow focuses on single-family homes and townhomes built after 1960, with plans to expand its buying parameters. Sellers can also opt for Redfin's full-service listing at a low fee.

Positive

• Launch of RedfinNow in Atlanta and Nashville enhances market presence.
• Expansion to 27 markets, demonstrating growth potential.
• Offers convenience to sellers by providing cash offers and flexible closing dates.
• Reduces sale process stress for homeowners in competitive markets.

Negative

• None.

ATLANTA, Sept. 1, 2021 /PRNewswire/ -- (NASDAQ: RDFN) -- RedfinNow announced its launch today in the Atlanta and Nashville metro areas. RedfinNow is the iBuying service from Redfin (www.redfin.com), the technology-powered real estate company. Sellers can request a cash offer directly from Redfin and sell without the hassle of preparing their home for market or dealing with open houses and private showings. So far this year, RedfinNow has expanded to 9 markets, and is now serving homeowners in a total of 27 markets in 13 states and the District of Columbia.

"RedfinNow is like giving the homeowner an easy button for their home sale," said Jason Aleem, vice president of RedfinNow. "In today's fast-paced real estate market, home sellers can use cash offers to control their moving timeline, skip the stress of preparing their home to list, and put in a winning offer on their new home."

"It is challenging to be a move-up buyer in highly competitive markets like Nashville and Atlanta, so we're thrilled to offer a solution to make the transition easier," said Pam Price, regional manager for RedfinNow. "We hear from new construction buyers in particular who struggle with rising costs and tricky building timelines. With a strong cash offer from RedfinNow, these buyers can enjoy the certainty of knowing their budget and the flexibility to choose their closing date to ensure a seamless move."

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%.

"As a technology-powered real estate company, Redfin educates homeowners on all of their selling options," said Aleem. "Sellers who value convenience and certainty love RedfinNow, while those who want to list on the open market for the lowest fee choose to work with a 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, from 8 a.m. to 8 p.m., with or without an agent.

RedfinNow is initially making offers on single family homes and townhomes built after 1960 in select neighborhoods in the following counties. It expects to expand to additional neighborhoods and property types in the region over time. The buying parameters are subject to change:

• Atlanta: DeKalb and Gwinnett
• Nashville: Davidson, Rutherford, and Williamson

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 the new launch of RedfinNow in Atlanta and Nashville?

RedfinNow has launched its iBuying service in the Atlanta and Nashville metro areas, allowing homeowners to request cash offers.

How many markets does RedfinNow serve after the latest expansion?

After the expansion, RedfinNow now serves a total of 27 markets across 13 states.

What type of homes is RedfinNow focusing on?

RedfinNow is initially making offers on single-family homes and townhomes built after 1960.

What are the benefits of using RedfinNow for home sellers?

Home sellers can benefit from cash offers and the ability to choose their closing dates, making the sale process simpler.

Is RedfinNow available for markets outside Atlanta and Nashville?

Yes, RedfinNow has expanded to several other markets and continues to grow.