Tech-oriented brokerage Redfin announced Wednesday that it is now operating in three new markets across the South.
For the first time ever, consumers in Savannah, Georgia, Chattanooga, Tennessee, and Northern Kentucky will now be able to search for homes on Redfin’s website, as well as work with a Redfin agent and take advantage of the company’s various real estate services, according to a statement. Though Redfin already operated in other parts of those three states, these new additions mean that the company is now active in more than 90 markets across the U.S. and Canada.
Redfin has been extending its reach rapidly of late, primarily by launching specialized offerings in markets where it already had a presence. Earlier this month, for example, the company launched Redfin Direct — which lets unrepresented buyers make offers on homes — in Texas. The Lone Star State was the third market to get Redfin Direct.
Just days earlier, the company also launched iBuying platform RedfinNow in Las Vegas. RedfinNow launched in Houston in late September as well, and the service is currently available in 10 markets. The push to expand RedfinNow has also made Redfin a direct competitor of well-funded startups such as Opendoor, which pioneered the iBuying concept, and Zillow.
Neither RedfinNow nor Redfin Direct will be immediately available in the three new markets.
However, the company will offer an array of other services in those areas. In addition to the ability to search for homes on the company’s portal, consumers in Chattanooga, Savannah and Northern Kentucky will be able to book home tours instantly, see home valuations from Redfin’s Estimate tool, and view 3D home tours on Redfin-listed homes, among other things.
Consumers in those markets can also work with salaried Redfin agents to buy and sell homes. The company pointed out in its statement Wednesday that homesellers working with a Redfin agent pay a 1.5 percent fee, which can potentially add up to thousands of dollars in savings compared to a traditional commission. Buyers in Savannah and Kentucky will also get a refund from Redfin’s share of the buyer commission, though that offering is not available in Chattanooga due to state laws.
In Redfin’s statement Wednesday, senior director of emerging markets James Marks said that the company is “thrilled to bring our local agent service and technology to these thriving new regions.”
