RedfinNow
Bought homes directly (iBuyer) · Seattle, Washington (Redfin's headquarters) · Founded 2017
! No longer buying homes. Redfin announced the shutdown on November 9, 2022 because iBuying tied up too much capital and risk for an uncertain benefit amid rising capital costs; Redfin completed liquidation of the inventory in Q2 2023.
RedfinNow was a company that bought homes directly with its own money (an iBuyer). Redfin announced the shutdown on November 9, 2022 because iBuying tied up too much capital and risk for an uncertain benefit amid rising capital costs; Redfin completed liquidation of the inventory in Q2 2023. It was founded in 2017 and was based in Seattle, Washington (Redfin's headquarters).
How RedfinNow worked
- Process
- Historically, a homeowner entered the address and basic home information at Redfin.com/now, after which RedfinNow used local insight and machine-learning algorithms to make a cash offer based on location, condition, and expected repair costs. If the seller accepted, they could choose a closing date (the Portland announcement said 10–90 days); RedfinNow then made updates and listed the home for resale.
- Fees (as reported)
- RedfinNow charged a 7% service fee in the Dallas market, according to Redfin's launch announcement; no current fee applies because the program is closed.
Reddit discussions
Threads that mention RedfinNow. We link to them; we don't verify what's said there.
Sources
- RedfinNow was tested with a limited number of customers in two markets during the first quarter of 2017 and was technically a Redfin subsidiary (RDFN Ventures, Inc.). news
- RedfinNow bought homes directly from homeowners and resold them to homebuyers. SEC filing
- Redfin decided in November 2022 to wind down RedfinNow as a strategic decision to focus resources on its core business in the face of rising cost of capital, and completed the wind-down in the second quarter of 2023. SEC filing
- Redfin's CEO explained that iBuying had an uncertain benefit, tied up hundreds of millions of dollars in houses, and the properties segment was expected to lose $22–$26 million in 2022. company website
- Redfin Corporation was incorporated in October 2002 and is headquartered in Seattle, Washington. SEC filing
- RedfinNow began testing in Q1 2017. news
- Redfin was formerly publicly traded under ticker RDFN on Nasdaq; Rocket Companies announced completion of its acquisition of Redfin on July 1, 2025, so RedfinNow's parent is no longer an independently traded company. news
- When it operated, RedfinNow was available in 24 markets in 10 states and the District of Columbia (June 2021 announcement); it does not buy homes in any markets today because the program was wound down. news
- RedfinNow charged a 7% service fee in the Dallas-Fort Worth market. news
- Redfin's historical process let homeowners enter an address and basic home information, receive an offer based on location, condition, and repair costs, and select a closing date 10–90 days after accepting the offer. news
- RedfinNow's historical offer was all-cash and allowed sellers to avoid prep work, private showings, and open houses; qualifying sellers could receive an offer in 48 hours or less and complete a sale in as few as seven days. news
- After acquiring a home, RedfinNow made updates and listed it on the open market. company website
Common questions about RedfinNow
Is RedfinNow legit?
RedfinNow was a company that bought homes directly with its own money (an iBuyer). Redfin announced the shutdown on November 9, 2022 because iBuying tied up too much capital and risk for an uncertain benefit amid rising capital costs; Redfin completed liquidation of the inventory in Q2 2023. It was founded in 2017 and was based in Seattle, Washington (Redfin's headquarters).
What did RedfinNow charge?
RedfinNow charged a 7% service fee in the Dallas market, according to Redfin's launch announcement; no current fee applies because the program is closed.
How did selling to RedfinNow work?
Historically, a homeowner entered the address and basic home information at Redfin.com/now, after which RedfinNow used local insight and machine-learning algorithms to make a cash offer based on location, condition, and expected repair costs. If the seller accepted, they could choose a closing date (the Portland announcement said 10–90 days); RedfinNow then made updates and listed the home for resale.
Is RedfinNow still buying houses?
Redfin announced the shutdown on November 9, 2022 because iBuying tied up too much capital and risk for an uncertain benefit amid rising capital costs; Redfin completed liquidation of the inventory in Q2 2023.