After ending its Redfin Refund program in 2022, Redfin introduced Redfin Sign & Save, a new buyer rebate that offers a 0.25% discount on the standard buyer agent commission to help reduce fees and make offers more appealing to sellers.[1]
Now, Redfin now asks buyers to agree to a 2.5% buyer’s agent commission (BAC) before their first home tour. If buyers decide to work with Redfin as their exclusive agent before a second tour, Redfin lowers their fee to 2.25% – below the nationwide average rate of 2.58%.
This 0.25% reduction is appealing as buyers may now cover their agent’s commission, due to changes stemming from the recent NAR lawsuit.[2]
However, the program requires buyers to commit to an agent early, and recent online comments from buyers show some consumer confusion over the terms of the agreement. Learn more about Redfin's home buyer rebate program and if it makes sense for you.
Buy your home with a top Clever agent, get up to $500 cash back.
When you buy with Clever in an eligible state, you’ll get $250 cash back. When you also sell with Clever, you can sell for just 1.5%—roughly half the traditional fee—and get another $250 cash back. That’s $500 total in cash back along with thousands saved in commission fees when you buy and sell with Clever.
What is Redfin Sign & Save?
Redfin phased out its previous home buyer rebate program, known as the Redfin Refund, in 2022. However, in early 2024, Redfin introduced Redfin Sign & Save, a new buyer rebate program that offers cash back to buyers who commit to an agent early.[1]
With Redfin Sign & Save, buyers who sign a buyer agency agreement with a Redfin agent before their second home tour receive a rebate of 0.25% of the home’s purchase price at closing.
| Home price | Rebate percentage | Rebate amount |
|---|---|---|
| $400,000 | .25% (standard Redfin) | $1,000 |
| $800,000 | .50% (Redfin Premier) | $4,000 |
For example, if you buy a $400,000 home, you’d get $1,000 back at closing. For higher-end purchases through Redfin Premier (luxury homes), the rebate increases to 0.5% of the purchase price, or $4,000 on a $800,000 home.
This rebate program comes amid recent National Association of Realtors (NAR) rule changes following an antitrust lawsuit. Under the new rules, buyer’s agents must secure a signed agency agreement before touring homes with clients. (This rule also makes it easier for buyers to negotiate their real estate commission.)
The buyer's agency agreement details the services provided and the fees associated, which may promote greater cost transparency. Redfin’s Sign & Save rebate ultimately incentivizes buyers to sign an agreement early, potentially offsetting the commission costs that buyers may now be responsible for.
According to Jason Aleem, Redfin's senior vice president of real estate operations, the company believes the program will "help its agents close more sales and increase profits by identifying and rewarding homebuyers who are ready to make a purchase."[3]
🤔 Is Redfin’s “Sign & Save” pop-up a financial commitment?
A recent Reddit thread shows that some buyers find its "Sign & Save" program unclear, especially the pop-up agreement before their first tour. The pop-up states buyers only pay a fee if they buy, with a 2.5% rate that drops to 2.25% if they commit to Redfin before a second tour.
However, it’s unclear if clicking "agree" binds them to Redfin if they choose a different agent later.
Without a formal buyer’s agency contract, some buyers worry they’ve accidentally committed to Redfin’s commission. Typically, a contract clearly outlines terms, such as representation period and fees, which isn’t fully addressed in the pop-up.
With new NAR rules on commission transparency, buyers seek clearer information on whether agreeing to Redfin's pop-up binds them financially after a tour. Redfin could clarify this by explicitly stating if the pop-up creates any buyer commitment or commission obligation.
How Redfin's refund compares to Clever
| Feature | Clever | Redfin |
|---|---|---|
| Rebate amount | $250 ($500 if buying and selling) | .25% ($1,000 on $400,000 home) |
| Eligibility | Available in 42 states | Available in 25 states |
| Agent selection | Matches buyers with top-rated local agents | Limited to Redfin agents |
If you want cash back when you buy, you have many other options—including Clever Real Estate.
Here are the key distinctions between Redfin's Sign & Save program and Clever's Cash Back:
- Rebate flexibility: Clever’s Cash Back is straightforward, offering $250 or $500 cash back, depending on your transaction type. Redfin’s rebate is tied to a 0.25% discount, which can be higher but requires signing with a Redfin agent by the second tour.
- Agent selection: Clever matches you with agents from various top local brokerages like Keller Williams, Century 21, and RE/MAX, while Redfin requires you to work with a Redfin agent.
- Availability: Clever’s Cash Back program is available in 42 states. That's because the remaining eight U.S. states don’t allow home buyer rebates from any real estate agent: Alabama, Alaska, Kansas, Mississippi, Missouri, Oklahoma, Oregon, and Tennessee. However, Redfin’s availability is limited to 25 states and Washington, D.C.
» Get matched with a top Clever buyer's agent today. Save more and choose from experienced agents at top brokerages like Keller Williams, Century 21, and Re/Max. Fill out this short quiz to get started!
Am I eligible for a Redfin Refund?
To qualify for a Sign & Save rebate, the buyer “must purchase a home with Redfin within 180 days and not be working with another agent.”[4] That means you have six months after you sign your buyer agency agreement to purchase a home, or you lose out on your rebate. You also have to work exclusively with your Redfin agent.
Specifically, you must work with a Redfin agent—not a Redfin Partner Agent. Redfin will refer you to a Redfin Partner Agent if any of the following apply:
- You’re buying outside one of the approximately 80 markets Redfin serves.
- All Redfin agents are busy.
- Your home is below Redfin’s minimum price threshold.
Although Partner Agents are affiliated with Redfin, you won’t be eligible for the Sign & Save rebate if you work with one.
Lender approval
Home buyer rebates are subject to lender approval, but that doesn’t mean your lender will stop you from receiving a buyer rebate. Rather, they’ll want to ensure it’s applied correctly and won’t negatively impact your loan-to-value ratio. For example, as a price deduction or a credit toward your closing costs.
They’ll also examine basic legal compliance, such as whether buyer rebates are allowed in the state where you’re purchasing your home.
Where is Redfin Sign & Save offered?
To qualify for a Redfin Sign & Save buyer rebate, you must work directly with a Redfin agent and sign your buyer agency agreement before your second home tour. If you tour two or more homes with your Redfin agent before signing your agreement, you won’t be eligible for the Redfin Sign & Save rebate.
Here's a regional breakdown of where Redfin Sign & Save is available:
Northeast
- Boston, MA
- Buffalo, NY
- New York, NY
- Connecticut
- Rhode Island
- Northern New England (NH, ME, VT)
Midwest
- Cincinnati, OH
- Cleveland, OH
- Columbus, OH
- Detroit, MI
- Grand Rapids, MI
- Minneapolis, MN
- Wisconsin
- Nebraska
South
- Austin, TX
- Dallas, TX
- El Paso, TX
- Houston, TX
- San Antonio, TX
- Louisville, KY
- Virginia (Richmond, Hampton Roads)
- Coastal North Carolina
- Raleigh, NC
- South Carolina
- Savannah, GA
Southeast
- Jacksonville, FL
- Miami, FL
- Orlando, FL
- Palm Beach, FL
- Tampa, FL
- Fort Myers, FL
- Florida Panhandle
West
- Denver, CO
- Colorado Rockies
- Flagstaff, AZ
- Phoenix, AZ
- Tucson, AZ
- Salt Lake City, UT
- Inland Empire, CA
- Sacramento, CA
- Lake Tahoe (CA/NV)
- Las Vegas, NV
- Spokane, WA
- Seattle, WA
- Hawaii
How much is a Redfin buyer rebate?
Redfin claims the average rebate is around $1,500, which it says “is an estimate of what Redfin clients would receive based on the average property price purchased by Redfin clients in 2023.”[5] In the end, the amount of your Redfin buyer rebate will depend on the price of the home you buy.
For example, with the current median home price of $420,400,[6] a 0.25% rebate through Redfin's Sign & Save program would amount to approximately $1,051.
Remember that this rebate program "is valid for a limited time and subject to change." If you're interested in receiving a Redfin buyer rebate through Sign & Save, confirm its availability in your market before signing your buyer agency agreement.
Who is the Redfin Sign & Save home buyer rebate right for?
When considering Redfin’s Sign & Save program, here are a few factors to help you decide if it aligns with your needs:
Buyers comfortable with Redfin's service model
The Sign & Save rebate requires committing to a Redfin agent after just one home tour. Before you sign, make sure you understand what working with a Redfin agent entails and feel comfortable with the level of service they offer.
Buyers with a clear home-buying timeline
To qualify for the rebate, you must purchase a home within six months (180 days) of signing with Redfin. While this timeframe allows for some flexibility, it may not be ideal if you’re in the early stages of your home search or prefer to take your time.
Anyone located in an eligible market
Redfin’s Sign & Save program is available in more than 50 markets, but it’s not universal across all Redfin locations. Even if you’re in a Redfin-serviced area, check with your Redfin agent to confirm the rebate applies before signing an agency agreement.
Clever matches you with the best buyer’s agents in your area. Choose the perfect agent, find the right home, and get money back to help pay for your move!
FAQ
How much is the Redfin Sign & Save buyer refund?
According to Redfin, the average Redfin Sign & Save rebate is around $1,500. However, this amount will vary based on your location, the price of the home, your mortgage terms, and other factors. You won't be eligible for a rebate unless you meet all the requirements of the Sign & Save program and you’re in a state that allows buyer rebates. Learn more about home buyer rebates.
Is Redfin good for buyers?
Redfin offers various home buyer services, like a home estimate tool, Sign & Save rebates for eligible buyers, and more. However, most of these are on par with competitors’ offerings or come with conditions attached. Learn more about Redfin.