Redfin Premier Expands Luxury Real Estate Service Nationwide

Rhea-AI Summary

Redfin (RDFN) has expanded its Redfin Premier luxury real estate service to over 100 markets nationwide, allowing consumers to collaborate with top agents. This service targets high-end buyers and sellers, emphasizing a personalized experience. Redfin Premier agents, who rank in the top 1% nationally, close nearly three times more luxury deals than standard agents. The service offers lower listing fees of 1% for buyers and sellers, leading to higher proceeds for clients. Enhanced marketing strategies, including professional photography and virtual tours, further attract qualified buyers. Redfin aims to redefine luxury service in real estate.

Positive

• Expansion of Redfin Premier to over 100 markets enhances market reach.
• Lower listing fee of 1% provides cost savings for luxury home sellers.
• Redfin Premier agents close nearly 3 times more luxury deals compared to standard agents.
• Innovative marketing strategies improve property visibility and attract qualified buyers.

Negative

• None.

Homebuyers and sellers can now work with a Redfin Premier luxury expert in more than 100 markets across the U.S.

SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) — Redfin (www.redfin.com), the technology-powered real estate company, today announced it has expanded its Redfin Premier luxury real estate service nationwide. Consumers can now work with an expert Redfin Premier agent to buy or sell luxury homes in every market where Redfin provides agent service.

Redfin Premier service was designed to deliver the best experience in luxury real estate. It matches luxury homebuyers and sellers with a top Redfin Premier agent who has years of experience buying and selling high-end properties. Redfin has offered Redfin Premier service to home sellers in select markets since 2020 and expanded its service to homebuyers earlier this year.

“Redfin Premier has helped thousands of homeowners sell their luxury homes, and that experience has taught us a lot about what it means to provide high-end service,” said Mia Simon, vice president of Redfin Premier. “We’re excited to offer an unmatched luxury real estate experience to customers across the country, no matter where they want to move.”

Proven expertise for luxury homes

Redfin agents already rank in the top 1% of agents working at any nationwide brokerage,* and Redfin Premier agents are the best of that group. On average, Redfin Premier agents close nearly three times as many deals on homes priced at the high end of the market than other Redfin agents. They know how to price, prepare, and market luxury homes so they attract qualified buyers and sell for more. Redfin Premier agents work with sellers to recommend the right staging and finishes to help maximize their sale price. They can also pair clients with a design concierge in available markets to professionally manage more detailed renovations.

Sophisticated marketing to reach luxury homebuyers

When it’s time to list, Redfin Premier beautifully captures every detail of the home, with professional video tours, high-resolution photography, drone and twilight views, and detailed interactive 3D scans that let prospective buyers virtually tour the home from anywhere in the world. Redfin Premier listings get preferred placement on Redfin, the most visited nationwide brokerage site, where luxury listings get over 600 million views each year. Redfin Premier also reaches potential buyers for each listing both locally and globally via luxury publications, social media, coordinated email campaigns, luxe mailers and more.

Lower fees. Higher proceeds.

Luxury home sellers receive exceptional service while keeping more of the proceeds from their home sale with a listing fee of 1%** for customers who buy and sell with Redfin. That's less than half of what other brokerages commonly charge. Redfin does not charge additional fees for working with a Redfin Premier agent.

“Redfin Premier challenges the notion that luxury service should cost more just because it’s a luxury product,” Simon said. “We know that luxury home sellers want the best possible service and offering, at the best value. That’s why we’re proud to offer the best agents and the sophisticated marketing clients expect, all for a lower fee.”

With Redfin Premier, qualified buyers are matched with an elite Redfin Premier agent who will provide personalized, attentive service from the first home tour to closing. Redfin Premier agents have their ear to the ground of the local high-end market thanks to the relationships they have built with other agents and luxury home sellers. And since Redfin updates listings every 5 minutes, buyers see homes first and are able to tour them quickly, even the same day.†

"Moving is stressful, especially when you're dealing with high-end homes, but working with a Redfin Premier agent helps eliminate that stress,” said Los Angeles Redfin Premier agent Amy Black. “Redfin Premier agents have years of experience guiding clients through the entire moving process and have built incredible negotiating skills to help you get the best deal. They do everything they can to make the experience seamless."

Homes priced at or above the following minimums qualify for Redfin Premier:

• $1,750,000: San Francisco
• $1,500,000: Los Angeles and Orange County
• $1,250,000: Hawaii, New York, San Diego and Seattle
• $1,000,000: Boston, Washington, D.C., Flagstaff, Lake Tahoe, Maryland, Miami, New Mexico, Palm Springs and Virginia
• $850,000: All other markets

To learn more about Redfin Premier and find a Redfin Premier expert near you, visit: www.redfin.com/premier

* Based on the average number of transactions per Redfin agent compared to agents at brokerages operating in at least 2 states, per MLS data Oct 2021-Sept 2022.
** Terms and minimums apply. Buyer’s agent commission not included. Listing fee increased by 1% of sale price if buyer is unrepresented.
†85% of new listings in MLS feeds received by Redfin will post within 5 minutes. Same day tours subject to property and agent availability.

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, 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 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 5,000 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.

Redfin-F

View source version on businesswire.com: https://www.businesswire.com/news/home/20230315005296/en/

Redfin Journalist Services:

Erin Osgood, 206-588-6863

press@redfin.com

Source: Redfin

FAQ

What is Redfin Premier?

Redfin Premier is Redfin's luxury real estate service connecting buyers and sellers with top agents to provide an exceptional experience in the luxury home market.

How much does Redfin charge for luxury home listings?

Redfin charges a listing fee of 1% for luxury home sellers who buy and sell with them, significantly lower than traditional brokerages.

What are the benefits of using Redfin Premier agents?

Redfin Premier agents are in the top 1% nationally, closing nearly three times as many luxury deals with expertise in pricing, preparing, and marketing high-end properties.

In how many markets is Redfin Premier available?

As of now, Redfin Premier is available in more than 100 markets across the U.S.

How does Redfin Premier market luxury homes?

Redfin Premier utilizes professional photography, video tours, drone views, and detailed interactive 3D scans to effectively market luxury homes.