When you buy a home, your agent receives a commission that is typically 2.5% or 3% of the final purchase price.
When you buy a home through Open Listings, we act as your buying agent. Once you’ve successfully closed on the sale, we will issue you a refund of up to 50% of the commission that we receive. Please note that refunds are subject to a minimum commission of $3,000. On average, we refund buyers $9,604* at close of escrow -- 4.8x more than Redfin's average refund of $2,000.
Why we offer the refund
A traditional buying agent typically handles sourcing and comparing properties as well as collecting property information based on the search criteria provided by you, the buyer. Open Listings believes in empowering our buyers so we give you the tools to browse, research and compare properties on you own. When you’re ready to make an offer on a home, your Open Listings buying agent will step in to assist you from submission to close of escrow.
This model allows our buying agents to remain laser focused on getting offers submitted and accepted. We refund our buyers a portion of the commission as a reward for the work they put in.
*Avg. refund last updated 8/21/2018. Redfin average from redfin.com. Refunds vary by sale price, market and are subject to a minimum commission.