The longstanding Redfin Refund home buyer rebate program was phased out in July 2022, as Redfin struggled with a cooling real estate market. That summer, Redfin’s CEO said the company intended to completely eliminate its buyer rebate program by 2023.[1]
Now, Redfin has brought back a rebranded version of its home buyer rebate program called Redfin Sign & Save. This new program could benefit homebuyers who must now pay their agent's commission following rule changes from a recent National Association of Realtors (NAR) class-action lawsuit.[2]
Let’s touch on how the new Redfin’s buyer rebate program works, where buyers can take advantage of it, and the best alternatives for buyers looking to get cash back at closing.
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.
Does Redfin give money back to buyers or not?
Redfin phased out its previous home buyer rebate program, which was called Redfin Refund. But in February 2024, Redfin announced it was launching a similar buyer rebate program called Redfin Sign & Save.[3]
Redfin Sign & Save offers a buyer rebate of 0.25% (one-quarter of 1%) of a home’s purchase price at closing for buyers who sign a buyer agency agreement with a Redfin agent before going on their second home tour. For example, a buyer who purchases a $400,000 home would be eligible for a rebate of $1,000 at closing if they signed the agreement. (Buyers who purchase a home through Redfin Premier can qualify for a rebate of up to 0.5%.)
This policy comes as the recent National Association of Realtors (NAR) lawsuit settlement changes how buyer agents are paid and makes it easier for buyers to negotiate their real estate commission. One of the rule changes requires buyers to sign a buyer agency agreement with their buyer’s agent. The agreement must specify all fees and services.
Since some buyers may be resistant to this change, the Redfin Sign & Save rebate gives buyers a cash incentive to commit early and sign an agreement with a Redfin agent.
Our #1 alternative to the Redfin buyer rebate
If you're looking to get cash back when you buy, you have many other options—including Clever Real Estate.
Clever matches you with top local agents from major brands like Keller Williams or Century 21. You receive the same services you'd get from a traditional buyer's agent, including real-time MLS alerts, on-demand showings, and support with negotiations and paperwork.
If you buy in a qualifying state, you also receive $250 in Clever Cash Back to help with your move. If you buy and sell with Clever, you receive $500.
Clever Cash Back is available in 42 U.S. states. There are eight U.S. states that don’t allow home buyer rebates from any real estate agent: Alabama, Alaska, Kansas, Mississippi, Missouri, Oklahoma, Oregon, and Tennessee.
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 make sure 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 look at basic legal compliance, such as making sure buyer rebates are allowed in the state where you’re purchasing your home.
Where are rebates likethe 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.
Redfin Sign & Save is available in the following markets:
- Austin, Texas
- Boise, Idaho
- Boston
- Buffalo, New York
- Cincinnati
- Cleveland
- Coastal North Carolina
- Colorado Rockies
- Columbus, Ohio
- Connecticut
- Dallas
- Denver
- Detroit
- El Paso, Texas
- Flagstaff, Arizona
- Florida Panhandle
- Fort Myers, Florida
- Grand Rapids, Michigan
- Hampton Roads (coastal region of Virginia and North Carolina)
- Hawaii
- Houston
- Indianapolis
- Inland Empire, California
- Jacksonville, Florida
- Lake Tahoe (area in California and Nevada)
- Las Vegas
- Little Rock, Arkansas
- Louisiana
- Louisville, Kentucky
- Miami
- Minneapolis
- Nebraska
- New Mexico
- New York
- Northern New England
- Orlando, Florida
- Palm Beach, Florida
- Palm Springs, California
- Phoenix
- Pittsburgh
- Raleigh, North Carolina
- Rhode Island
- Richmond, Virginia
- Sacramento, California
- Salt Lake City
- San Antonio
- Savannah, Georgia
- Seattle
- South Carolina
- Spokane, Washington
- Tampa, Florida
- Tucson, Arizona
- Virginia
- Washington, DC
- Wisconsin
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.
However, Redfin also notes that the Redfin Sign & Save program “is valid for a limited time and subject to change.” If you want to receive a Redfin buyer rebate through the Sign & Save program, make sure it’s available in your market before you sign your buyer agency agreement.
Who is the Redfin Sign & Save home buyer rebate right for?
Here are some points to consider when deciding if Redfin’s new home buyer rebate program is a good fit for you:
- Buyers who are comfortable committing to a Redfin agent
Redfin’s Sign & Save program requires you to commit to Redfin after only one home tour. To do so, you should have a decent understanding of the unique pros and cons of working with a Redfin agent and be comfortable with the probable level of service you’ll receive.|
- Buyers who have a pretty good idea of what they’re looking for
To receive a buyer rebate, you’ll have to purchase a home within six months (180 days) of signing your agreement with Redfin. While that’s a somewhat generous amount of time, it doesn’t allow for too much browsing.
- Buyers who live in an eligible market
Redfin’s Sign & Save program is available in more than 50 U.S. markets, but it’s not available in all of Redfin’s markets. So, even if you’re in a Redfin market, you might not be eligible for a Sign & Save rebate. Confirm with your Redfin agent that you’re eligible for a rebate before you sign 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 about Redfin buyer rebates
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 a variety of 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.