Redfin has expanded its iBuyer program, RedfinNow, to San Antonio, according to an announcement Thursday. The Seattle-based online brokerage launched RedfinNow in late 2018, testing the all-cash offer program in San Diego and Orange County before expanding to Los Angeles in Jan. 2019.

Since then, Redfin has also added Inland Empire, Austin, Dallas and Denver to its iBuyer list.

“Consumers want choices, and with Redfin, sellers can assess all their options and choose the service that best meets their needs,” said Redfin chief growth officer Adam Wiener in a press release. “For homeowners who want to put the most money in their pocket from selling their home, Redfin’s full-service, low-fee listing product fits the bill.”

With RedfinNow, sellers can receive an all-cash offer from Redfin within 48 hours and close in as little as one week. Homeowners are able to choose their move-out date, and they aren’t required to do any prep work, private showings, or open houses, according to an explainer provided by the company.

Redfin charges a 7 percent service fee for RedfinNow, compared to the 1.5 percent fee for Redfin’s full-listing service program for sellers who want to list their homes on the open market with a Redfin agent. Sellers who use Redfin’s flagship program also pay the buyer’s agent a commission of 2.5 to 3 percent.

This is the second new market Redfin has added this summer, with the first being Austin, signaling the company’s confidence in its ability to successfully exist in the highly-competitive iBuyer market despite some initial struggles.

In February, Redfin CEO Glenn Kelman noted most buyers bypassed RedfinNow in favor of its full-service listing program, saying it’s “tricky business” figuring out an offer price that benefits both Redfin and the seller.

On average, Redfin currently purchases about 36 homes a month, but the company plans to expand to a number of new markets by year’s end.

Email Marian McPherson

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×