Tech-fueled real estate brokerage Redfin is extending its iBuyer service to two new metro areas, bringing a new instant-cash-offer option to sellers in the capital cities of Georgia and Tennessee.
The Seattle-based company on Wednesday announced it had launched RedfinNow in Atlanta, Nashville and their surrounding communities. The service is now available in 27 markets after an expansion into nine new metros this year, the company said in a news release.
The service offers cash for homes without the burden of preparing the house for market or holding showings, as a supplement to Redfin’s existing agent resources and products.
“It is challenging to be a move-up buyer in highly competitive markets like Nashville and Atlanta, so we’re thrilled to offer a solution to make the transition easier,” RedfinNow regional manager Pam Price said in the release.
As part of the rollout, Redfin is limiting its first purchases to single-family homes and townhomes built after 1960, with a focus on select neighborhoods in the new markets, according to the release. The service is expected to expand into new neighborhoods over time.
Atlanta-area homes in DeKalb and Gwinnett counties will be among the first to be considered, while some Nashville-area properties in the counties of Davidson, Rutherford and Williamson will get a first look from the service.
Like other iBuyer services, after buying a home, Redfin works to make necessary repairs and upgrades, then lists it again on the open market. Prospective buyers may then unlock and tour the properties through the company’s app, with an agent or without one.
The service, and others like it, can also offer flexibility to families who are looking to sell their old home on an unpredictable timeline. After accepting a RedfinNow offer, the seller have between 10 and 90 days to pick their closing date.
“We hear from new construction buyers in particular who struggle with rising costs and tricky building timelines,” Price said in the release. “With a strong cash offer from RedfinNow, these buyers can enjoy the certainty of knowing their budget and the flexibility to choose their closing date to ensure a seamless move.”