Redfin joins rush of companies flipping homes in Austin, revving up already-hot housing market

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(AP Photo/John Bazemore)

AUSTIN (Austin Business Journal) — Seattle-based discount real estate brokerage group, Redfin Corp. is preparing to bring its iBuyer model to Austin within the next two weeks, according to a report by the Austin Business Journal.

RedfinNow allows home sellers to get a cash offer for their house in 48 hours or less and complete a sale in as few as seven days. Sellers can move out then or in 60 days. RedfinNow charges a service fee of 7%. This concept is similar to real estate-technology startups Opendoor and Offerpad that launched in Austin months ago, and Zillow Offers coming next year.

In Austin, Redfin is looking to buy homes built after 1960 and for around the median single-family home price, which hit a record $407,400 in May, according to the Austin Board of Realtors.

Read full story on Austin Business Journal website.

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