RedfinNow plans to launch in Miami and Palm Beach this month, the company announced.
The expansion will bring the service into 34 markets in 16 states and Washington, D.C. RedfinNow allows sellers to request a cash offer directly from Redfin in order to sell quickly and without preparing their home for the market or negotiating with buyers.
“The real estate market in Florida is dynamic thanks to a surge of migration into the state and a wide array of buyers and sellers, including full-time residents, retirees, vacation-home owners and investors,” Jennie Hoffer, regional manager for RedfinNow, said in a news release. “As the housing market cools, the convenience and certainty of a cash offer will be especially attractive to the homeowners who need to sell quickly or are selling from afar and don’t want to deal with negotiations or the prospect of a buyer backing out. The cash offer isn’t for every seller, but for certain ones, it’s the best choice.”
Once Redfin acquires a home, it makes updates and lists it on the open market. Expanding RedfinNow to Florida, where it recently launched in Tampa and Orlando, is part of Redfin’s strategy to offer homeowners multiple ways to sell their home, the company said.
“The most unique part of Redfin’s iBuying model is that we offer customers a transparent choice and help them understand the tradeoffs between our cash offer or listing with a Redfin agent,” said Jason Aleem, the leader of Redfin’s real estate brokerage. “Not only do our customers want this choice, having a cash offer option helps us grow our existing brokerage business. For every homeowner who takes the RedfinNow cash offer, two other homeowners will opt to list their home with a Redfin agent instead.”