Redfin Direct launched today in Texas, the third market for the platform, which allows unrepresented buyers to make offers on Redfin-listed homes.
“Redfin Direct is a solution for buyers who feel confident making an offer without an agent— perhaps because they have prior homebuying experience or are working with an attorney — and they want to make their offer stronger by saving the seller money,” Tony King, Redfin’s designated broker in Texas, said in a statement.
“Today’s homebuyers are savvy, and we think they should be empowered to decide which option is right for them,” King added. “Of course, Redfin agents in Texas will continue to help buyers who want an expert to guide and advocate for them through the transaction.”
Redfin Direct, which launched in May, is also live in the Boston area as well as Northern Virginia. In both of these markets, as well as Texas now, prospective buyers have the option to work with an agent or make an offer unrepresented, while using Redfin’s 55-question step-by-step online tool.
The buyer is guided through the process and given data compiled by Redfin — like the percentage of offers in the area that include an inspection contingency — to craft a competitive offer.
Redfin CEO Glenn Kelman has been clear that his company has no intention of eliminating buyers’ agents, but the platform has still drawn criticism from some in the industry. RE/MAX pulled out of a referral partnership with Redfin after the service went public.
The company also recently reached out to members of its Partner Agent program to gauge their interest in opening up the service to listings that aren’t represented by Redfin agents.
With the launch of Redfin Direct and Redfin’s iBuyer platform RedfinNow launching in multiple Texas markets, Redfin claims it is the only brokerage in the state that offers consumers a complete end-to-end experience. Buyers and sellers can work with Redfin agents or buy Redfin-listed homes directly, as well as sell their home to Redfin for an all-cash offer. Buyers can work with Redfin Mortgage to get a loan and Redfin’s title and settlement company, Title Forward, can handle the closing in Dallas.
“Texas is the first state where we’re offering our complete suite of services to help Redfin’s clients make their move seamless,” Adam Wiener, Redfin’s chief growth officer, said in a statement. “Redfin Direct is the latest way we’re redefining real estate in the consumer’s favor, but for years Redfin has been building all of the pieces to create a one-stop shop.”
“By bundling services we can deliver more value at every step, and it unlocks new capabilities for our clients like the move-up buyer who can get the down payment for her next home in as little as seven days by selling her current place to RedfinNow,” Wiener added.
