Redfin announced this week that it is "deepening" its stake in the mortgage market by expanding its Redfin Now program, which buys homes directly from home sellers.
Redfin Now started in Southern California's Inland Empire in January 2017, and has since expanded to San Diego. Now, Redfin will launch the direct buying program in Orange County, and then into other markets. Under the program, homeowners can get an offer from the company within 48 hours of a home tour, and if the offer is accepted, the cash is received as soon as seven days after, HousingWire reports. Redfin then sells the homes on the market. CEO Glenn Kelman believes the company's greatest strength in the program emanates from the combination of real estate experience and local brokers, "After more than a decade of selling homes through a combination of local service and technology, Redfin has become one of the best in the business at getting a high home price for a low fee."
Redfin also announced that Quinn Hawkins, who’s overseen the Redfin Now program in its testing phase, will continue to lead the effort as it expands. Also joining the Redfin Now team will be Jason Aleem, who will run real estate operations for the program and report to Hawkins. According to Redfin, Aleem has been with the company for eight years, initially leading Redfin in Dallas and eventually taking over all of Texas, Colorado and New Mexico. “Redfin Now is ready for action as a long-term business, having one of Redfin’s most successful field leaders, Jason Aleem, overseeing real estate operations,” Hawkins, said. “We are eager to build on our strong second-quarter growth and introduce the service to even more home sellers in the months to come.”