RedfinNow Launches in Tucson; Reopens in Las Vegas

Rhea-AI Summary

RedfinNow has announced its expansion into the Tucson metro area and the reopening of its services in Las Vegas after a temporary pause due to the pandemic. This iBuying service allows homeowners to receive cash offers without the burden of preparing their homes for sale. Operating in 22 markets across eight states and the District of Columbia, RedfinNow aims to provide homeowners with a seamless selling experience. The company continues to leverage its technology and local market insights to generate competitive offers, enhancing its service offerings in the current competitive housing market.

Positive

• Expansion to Tucson and reopening in Las Vegas enhances market presence.
• RedfinNow allows sellers to avoid home preparation hassles and offers cash upfront.
• Service available in 22 markets, indicating strong operational reach.

Negative

• Dependent on the volatile housing market which may impact future offers.

TUCSON, April 14, 2021 /PRNewswire/ -- (NASDAQ: RDFN) -- RedfinNow has expanded to the Tucson metro area and reopened in Las Vegas after temporarily pausing operations there due to the pandemic. RedfinNow is the iBuying service from Redfin (www.redfin.com), the technology-powered real estate brokerage, which gives homeowners a convenient new way to sell. Sellers can request a cash offer directly from Redfin and sell without the hassle of fixing up their homes or clearing out for open houses and private showings.

"RedfinNow gives homeowners certainty and control over exactly when they sell with a cash offer that lets them avoid the hassle of getting their home ready for the market and dealing with open houses and home tours," said Jason Aleem, vice president of RedfinNow. "We're seeing record-high competition and price growth for homes right now, but the red-hot housing market is a double-edged sword for sellers who are also trying to buy. RedfinNow makes it easy for people to get the money from their current home to buy their next and line up the closings so they only have to move once."

RedfinNow is available today to consumers in 22 markets in eight states and the District of Columbia. Expanding RedfinNow is part of Redfin's strategy to give homeowners a complete real estate solution with multiple ways to sell their home and technology to make the process simple. 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%.

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 Redfin's offer.

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 am to 8 pm, with or without an agent.

In Las Vegas and Tucson, the company is initially making offers on homes that fit the following parameters and will expand to additional neighborhoods and property types over time. The parameters are subject to change:

• Las Vegas: Single family homes in Henderson, Southwest Las Vegas and Summerlin.
• Tucson: Single family homes, townhomes and condos in Tucson as well as Marana, Benson and Saddlebrooke.

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 nearly $1 billion in commissions. We serve more than 95 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

When did RedfinNow expand to Tucson?

RedfinNow expanded to Tucson on April 14, 2021.

What is RedfinNow's service offering in Las Vegas?

RedfinNow is making offers on single-family homes in Henderson, Southwest Las Vegas, and Summerlin.

How does RedfinNow determine a cash offer for homes?

RedfinNow uses local insights and proprietary algorithms to make competitive cash offers based on the home's location, condition, and needed repairs.

How many markets does RedfinNow currently operate in?

RedfinNow operates in 22 markets across eight states and the District of Columbia.

What are the parameters for offers made by RedfinNow in Tucson?

In Tucson, RedfinNow is initially making offers on single-family homes, townhomes, and condos.