Redfin Chicago Gets Personal

Big news, Chicago! We’re upgrading our service in the Windy City. Now, whenever you sign up to tour a home or meet an agent, the agent who negotiates your deal will also be the one who sees you through the whole process: They’ll meet you on the first tour, see the home and come to the closing table. The commission refund we offer buyers will, as a result, change from a flat 50% of our commission (with Redfin’s minimum $6,000 fee) to a range between 15% and 50%, depending on the price of the home, with no minimum fee.

Customers Love the Personal Service

We keep hearing how important it is to have an agent that’s 100% on your side, working for your best interest and not for a commission. With our new service in Chicago, you get that same level of service, using tools that keep you in the loop at every step. But now that agent can really get to know you and your needs along the way.

A 15-50% Refund

Our fee for selling a home is still 1.5% of the home price. But our refund for home-buyers will now depend on the list price of the home, so you’ll know up front exactly how much you’ll get back. For a $500,000 home in Chicago, the typical refund would be $3,188. Our website has all the details on the new commission refund. The estimated refund, based on the list price, will always be displayed on the listing page in the upper-right corner.

Since there is no longer a minimum with our new pricing plan in Chicago, your refund will actually be bigger on homes with list prices $287,000 and under, and more people will get a refund.

Existing Customers Are Eligible for Whichever Refund is More

If you’ve already contacted us to tour a home, talk to an agent or write an offer, you’re in luck! When you submit an offer by Feb. 1, 2012, we’ll either honor the old refund pricing, or give you the new pricing, depending on which gives you more money back.

This new level of service is limited to a few cities now, but it looks like it’s catching on. Turns out people love it when you combine full-service agents who aren’t paid on commission with transparency and access to the best information available about the homes and the agents.

A Redfin agent can show you how the whole process works, and give you insight on how the double dip is hitting your neighborhood. Check out the reviews of our Chicago-area agents and find the right agent for you.

  • redfin customer

    Not sure how these changes are benefiting the customer. Unless the dedicated agent is proactively searching for properties based on the buyer's preferences, I don't see what services the buyer is gaining in exchange for losing a substantial amount of the refund.

    • http://twitter.com/mattgoyer mattgoyer

      Hi Redfin Customer, 

      We've heard from a lot of folks that they wanted our most senior agents to be more involved when they were buying a home. With these changes you'll meet the most senior agent on your first home tour, they'll see the home you're writing an offer on, at the inspection and at closing. It sucks we're not able to do this and offer a monster refund but our sense after trying this in Boston is that more people care about great service than getting the largest refund possible.

  • redfin customer

    how do you determine 15-50%?

    • http://twitter.com/mattgoyer mattgoyer

      It depends on the listing price of the home. As the listing price increases so does your refund. To see how much money you'll get back check the upper right hand corner of any listing for the refund amount. Or use the calculator on this page to see what you'll get back: http://www.redfin.com/buy-a-ho

  • Mjcap77

    Shouldn't the agent who does the work get the credit? If one agent is helping me find what I want, I want them at my closing, not someone I don't even know.After dealing with Redfin last summer, I am now selling my own home . I want someone who will actually do the research and the work for the commission.

    • http://twitter.com/mattgoyer mattgoyer

      Yes, and that is why we're changing our service in Chicago. We want you to be able to have a closer connection to the agent you're working with; from showing you houses, to writing your offer. At times though, say you need to get into a home quickly, they have team members who can help you out.