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.