Redfin Expands Redfin Next Agent Pay Plan to Additional Markets, Offering Big Splits with Zero Expenses
21 Março 2024 - 9:30AM
Business Wire
Redfin is expanding its ground-breaking pay
plan to agents in Chicago, Connecticut, Dallas, Miami, New York,
Palm Beach and Washington, D.C.
(NASDAQ: RDFN) — Redfin announced today it is expanding the
Redfin Next agent compensation plan to seven additional markets:
Chicago, Connecticut, Dallas, Miami, New York, Palm Beach, and
Washington, D.C. Under the Redfin Next plan, agents in these
markets earn competitive splits as high as 70%, have virtually all
business expenses covered, and get technology, support, benefits
and customer introductions from Redfin.com, the #1 brokerage site
in the United States.
Redfin initially announced the plan in San Francisco and Los
Angeles in late October 2023 and added San Diego and Orange County
in December 2023. Since then, the brokerage has recruited more than
90 top producing agents in California. Because of this recruiting
success, and the positive reception among Redfin’s existing agents,
the company is now expanding the plan to new markets and will
continue to evaluate rolling it out to all agents in 2025.
“We’ve never seen more enthusiasm for a new compensation plan
from agents than we’ve seen with Redfin Next,” said Jason Aleem,
senior vice president of real estate sales at Redfin. “No other
brokerage can offer agents a big traditional split and all the
benefits, support, technology and customer introductions that we
provide here at Redfin. These resources are what agents need to
serve buyers and sellers well, and let those buyers and sellers
keep more of their hard-earned dollars. In the wake of the NAR
settlement, customers are telling us this is more important to them
than ever before. We've always been focused on giving consumers a
better deal, so we're well equipped to support them. We believe
Redfin Next will be transformational for our brokerage, helping us
retain our best agents, recruit top talent, and grow market share
faster through both the ups and downs in the market.”
The Redfin Next plan includes:
- Big splits. Zero expenses: At Redfin, what you earn is
what you keep because we cover all your necessary business expenses
and cover benefits, mileage, payroll taxes and listing
expenses.
- Meet over 100 customers a year: By plugging into the
Redfin platform and the 50 million people who use Redfin’s app and
website every month, agents can grow their business rapidly.
- Business in a box: Redfin's technology and staff handle
qualifying new customers, scheduling tours, conducting follow-up
tours, and coordinating sales & listings. Agents focus on
closing deals for customers.
- Top-tier benefits: Redfin’s benefits package includes
medical, dental, and vision insurance; fertility benefits; 401(k)
employer match and employee stock purchase program.
- Define the future of real estate: Redfin puts the
customer first, makes the industry more fair and transparent, and
uses technology to modernize the real estate experience and make it
better.
Agents in the Redfin Next plan will continue work as employees,
not independent contractors. Redfin’s unique employee agent model
was built to put the customer first by ensuring agents are held to
a high standard and have the support they need to deliver
consistently great service. Redfin uses technology to make real
estate more efficient, which is one reason Redfin has the most
productive agents in the industry, closing more than twice as many
transactions as the average agent every year.
Gabe Schmidt, who recently joined Redfin’s Orange County team,
says the quality of customer leads and Redfin’s technology have
already made an impression on him. “It’s like someone at Redfin
followed an agent around and figured out every pain point in their
day, and then created technology or a process to circumvent it. I
have bought leads from practically every lead source out there, but
I have never in my life had a more qualified lead come across my
phone as I have with Redfin.”
The seven expansion markets will move to the Redfin Next pay
plan on May 5. In other markets, Redfin agents will continue to
operate under Redfin’s existing plan, earning a base salary and
bonuses for every closed transaction. Nationwide, Redfin agents
earn more than double the typical real estate agent and the
company’s best agents have earned more than $750,000 under the
existing plan. Redfin expects top agents to earn even more with the
Redfin Next plan.
Redfin is actively recruiting experienced agents to join the
company in markets around the country. Visit our site to start a
conversation about how to grow your business and career at
Redfin.
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate
company. We help people find a place to live with brokerage,
rentals, lending, title insurance, and renovations services. We run
the country's #1 real estate brokerage site. Our customers can save
thousands in fees while working with a top agent. Our home-buying
customers see homes first with on-demand tours, and our lending and
title services help them close quickly. Customers selling a home
can have our renovations crew fix it up to sell for top dollar. Our
rentals business empowers millions nationwide to find apartments
and houses for rent. Since launching in 2006, we've saved customers
more than $1.6 billion in commissions. We serve more than 100
markets across the U.S. and Canada and employ over 4,000
people.
Redfin’s subsidiaries and affiliated brands include: Bay Equity
Home Loans®, Rent.™, Apartment Guide®, Title Forward® and
WalkScore®.
For more information or to contact a local Redfin real estate
agent, visit www.redfin.com. To learn about housing market trends
and download data, visit the Redfin Data Center. To be added to
Redfin's press release distribution list, email press@redfin.com.
To view Redfin's press center, click here.
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version on businesswire.com: https://www.businesswire.com/news/home/20240321176709/en/
Redfin Journalist Services: Alina Ptaszynski
alina.ptaszynski@redfin.com (215) 313-0754
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