Redfin raises buyer fees 16%, announces new service plan 

House and money image via Shutterstock.com.

Technology-based real estate brokerage Redfin says it's reducing the commission refunds it offers to buyers, raising fees by an average of 16 percent, in order to provide customers with "a one-on-one relationship" to their agents.

Redfin had previously offered buyers refunds equal to 50 percent of the commission split the brokerage received from the seller, subject to a $6,000 minimum fee. Now, Redfin will employ a fixed-dollar refund for each listing based on a sliding scale that's tied to the listing price, CEO Glenn Kelman announced on the company's blog.

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