AgentTechnology

Redfin reduces both rebates and listing fees further

Changes point towards how buyers and sellers may think differently about brokerage fees
Published on Oct 18, 2016
  • Redfin has reduced the commission rebates it provides to buyers again.
  • But at the same time, it's reduced its listing fee to 1 percent in three more markets.
  • The fee changes point toward Redfin's conclusion that sellers respond better to below-market rates than buyers.

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by CareyBot

Offering buyer rebates never worked out as quite as well as Redfin had planned, and now the high-tech brokerage is trimming them yet again. But as the broker increases costs for its buyer clients, it's doing the opposite for sellers, rolling out a 1 percent listing fee to three more markets. The fee changes reflect Redfin's view that sellers are much more responsive to low fees than buyers ...

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