RedfinNow, the iBuying service from technology-powered real estate brokerage Redfin, launched its services in the Baltimore market.
The service allows sellers to 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. The service is available now in Maryland and northern Virginia and will be expanding into the District of Columbia in the coming months.
Expanding RedfinNow to these markets is part of Redfin’s strategy to give homeowners a complete solution with multiple ways to sell their home and technology to make the process seamless. Redfin’s real estate agents, who have been helping clients buy and sell homes in the Washington area since 2007, provide a full-service offering for a listing fee as low as 1%. Redfin also offers home loans and title and closing services in both states through its subsidiary companies, Redfin Mortgage and Title Forward.
Redfin also plans to expand its concierge service, already available in the District, to northern Virginia and Maryland this spring, which helps sellers get their home ready to go on the market with a professional design plan to maximize the sale price. Redfin Concierges manage all the vendors, scheduling, and billing to ensure a seamless experience and clients don’t pay for the improvements until the house sells. Redfin Concierge is available for a listing fee as low as 2%.
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 60 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 a.m. to 8 p.m., with or without an agent.
An iBuying pioneer since it launched in Southern California in early 2017, RedfinNow is now available in markets in Arizona, California, Colorado, Texas and Washington.