Redfin Expands Redfin Next Agent Pay Plan to 25 Additional Markets

(NASDAQ: RDFN) — Redfin announced today it is expanding the Redfin Next agent compensation plan to 25 additional markets. Under Redfin Next, 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 Next has proven to be even better than we imagined at igniting our salesforce, helping us recruit new talent,” said Jason Aleem, Redfin’s chief of real estate services. “When you pair a competitive traditional split with the technology, customer introductions, benefits and support that only we offer, there’s really no limit to what you can achieve at Redfin. We give agents everything they need to amplify their business and focus on serving their customers well. Redfin Next is also helping us gain market share faster in our early markets, which means we’re helping more customers get a better deal when they’re buying or selling. This expansion is a big step toward making this opportunity available to all Redfin agents as we continue to transform our brokerage and grow our presence nationwide.”

Redfin initially announced the plan in San Francisco and Los Angeles in October 2023 and has since expanded it to San Diego, Orange County, Chicago, Connecticut, Dallas, Miami, New York, Palm Beach, and Washington, D.C. Since launch, the brokerage has recruited more than 140 top producing agents in Redfin Next markets. Because of this recruiting success and the positive reception among Redfin’s existing agents, the company is now expanding the plan to the following markets:

• Austin
• Boise
• Coastal North Carolina
• Columbus
• Denver
• Fort Myers
• Grand Rapids
• Indianapolis
• Inland Empire, CA
• Kansas City
• Maryland
• Memphis
• Minneapolis
• Nashville
• New Mexico
• Palm Springs
• Portland
• Raleigh
• Sacramento
• Salt Lake City
• San Antonio
• Seattle
• Spokane
• St. Louis
• Virginia

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 49 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 to 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.