Industry News

Redfin targets home sellers with flat-fee service

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Online real estate broker Redfin said Wednesday it is now targeting the home seller market by offering an online home-selling service that allows buyers to submit questions about properties to sellers and listing agents. Redfin Direct for Sellers is based on a Web application for capturing the information required to list a property in the multiple listing service. Earlier this year, Seattle-based Redfin launched an online service for buyers that enables them to make offers on homes via the Internet. As with the buyer program, local real estate agents handle offers, negotiations, contingencies and closing. The home seller service costs $2,000, which potentially could save consumers thousands of dollars on a home sale compared to a traditional commission rate, which is usually around 5 percent to 6 percent of the sale price. Redfin this week also launched a new version of the company's Web site, including new features that enable consumers to search for properties by neighborhood; nav...