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.
- 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.