Redfin, a real estate brokerage company that offers deep rebates to buyers, is testing out a new service option in the Seattle area that allows buyers to participate in an unlimited amount of tours while reducing the company’s rebate rate.

Redfin, a real estate brokerage company that offers deep rebates to buyers, is testing out a new service option in the Seattle area that allows buyers to participate in an unlimited amount of tours while reducing the company’s rebate rate.

Under the company’s standard plan, called Redfin Direct, prospective buyers receive two agent-led home tours free of charge and pay $250 for additional home tours. These consumers receive a refund of two-thirds of the commission that is paid to Redfin in a home-sale transaction.

The new Redfin Select plan offers a 50 percent commission refund but does not charge a per-tour fee. Participants in this service plan are limited to two tours per week.

Customers can choose to switch from the Direct to the Select plans after the first two free tours.

Traditional full-service real estate companies typically do not charge a fee to take buyers on tours of for-sale properties, though these companies also do not typically offer to refund a large amount of their commission to buyers.

Redfin’s tours last up to two hours each, and can include up to five or six homes. Homes are selected by buyers.

The tours can be scheduled from 9 a.m. to 6 p.m. seven days a week, and the company also offers 40-minute rush-hour tours from 6 p.m. to 8 p.m. Monday through Thursday.

Participants in the Select plan must be pre-approved for a mortgage for the amount of the expected offer, must be searching for a home in the Seattle, Kirkland, Redmond, Bellevue or Mercer Island market areas, and must share the tours with a partner if you are buying a home with a partner.

Redfin estimates the typical refund for a buyer in its standard program would be $10,000 based on a purchase of a $500,000 home, or $7,500 for the same home under its Select plan.

"We’ve been asked, ‘Are you going more toward a traditional model? Are you going to eventually turn into everyone else?’ " said Cynthia Pang, a Redfin spokeswoman. "It never has been for us: Traditional vs. non-traditional. It has been more about customer service." Consumers have expressed a desire to participate in more agent-guided home tours, she said.

Redfin is initially opening the program up to 20 clients and may expand the program to other markets, Pang said.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×