Technology-powered real estate brokerage Redfin has launched its RedfinNow service in the Dallas area, which allows homeowners to get cash offers for their properties, as well as announced a major expansion of its physical presence in North Texas.
Seattle-based Redfin plans to open a new office at Hall Park in Frisco this spring and begin hiring engineers for its Dallas-based lending arm, Redfin Mortgage, and staff in Dallas for its title and settlement arm, Philadelphia-based Title Forward.
“Our rapidly growing presence in Dallas will have engineers working alongside our agents and mortgage and title teams, to bring together technology and service to deliver a complete home-buying and selling solution,” Redfin’s Chief Growth Officer Adam Wiener said in a statement. “As RedfinNow gets more efficient at buying and selling homes by integrating our mortgage and title services, we can lower the overall costs of a real estate transaction and pass additional savings on to our customers in the form of lower fees.”
Redfin has a traditional brokerage service in Dallas. [Photo: via Redfin video]
Redfin bills its RedfinNow service as a quicker alternative to traditional real estate brokerages, and joins Knock and other prop-tech companies in the Dallas area offering to buy homes for cash. So far, Redfin said it has already bought six homes via the RedfinNow website.
“RedfinNow can be a lifesaver for homeowners who want a faster and easier way to sell a home, like the guy who just sold to us because he landed his dream job in Europe,” Mark Riede, Dallas market manager for RedfinNow, said in a statement. “We recently bought from a busy family that didn’t have the time to get their house ready to go on the market and another family who needed the cash from their first home to buy their next. I’ve found many homeowners will gladly pay a slightly higher fee for the convenience and peace of mind of a cash offer and guaranteed closing date from RedfinNow.”
Redfin may expand to other Dallas-Fort Worth areas as early as next week, but here are the current locations RedfinNow is making offers:
- Allen/Fairview
- Coppell
- Far North Dallas/Richardson
- Little Elm
- Flower Mound/Highland Village/Argyle
- Grapevine/Colleyville
- Northwest Dallas
- Plano
- Southlake/Keller
- Carrollton
- Frisco
- McKinney/Prosper
- Lewisville/The Colony
Redfin plans expansions into more markets this year
The Dallas launch in December brings North Texas into the RedfinNow list of cities that includes Los Angeles, San Diego, Inland Empire, and Orange County, California. RedfinNow plans to expand into more markets this year.
Redfin said its new platform complements its full-service listing product for homeowners curious about how much they can get for their home on the open market by listing it with a local Redfin agent.
RedfinNow charges a 7 percent service fee.
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