Redfin (NASDAQ:RDFN) has introduced Sign & Save, which the Seattle brokerage described as “a new way for consumers to get a better deal in real estate.”
According to the company, home buyers who sign up to work with a Redfin agent before the second home tour can get a refund of 0.25% of the purchase price at closing. For customers who purchase a luxury home through Redfin’s Premier service, Redfin offers a 0.5% Sign & Save refund.
Redfin noted that an eligible homebuyer purchasing a $500,000 home would save $1,250 using the program while the buyer of a $2 million home would receive a $10,000 refund.
“Redfin is putting money back in homebuyers’ pockets at a time when many are struggling with high prices and mortgage rates,” said Jason Aleem, Redfin’s senior vice president of real estate operations. “The concept is simple: as a Sign & Save customer you get extra savings because we know you’re serious about buying a home, and we’re serious about getting you into one. We started piloting Sign & Save in a handful of cities in September and the customer response has been fantastic. We’re now rolling it out to dozens more markets because we believe it will help our agents close more sales and increase profits by identifying and rewarding homebuyers who are ready to make a purchase.”