Redfin is expanding its Redfin Next agent payment plan into 25 new markets starting in August 2024.
In an announcement on Friday, Redfin said that the payment plan would be rolling out Aug. 11 in the following markets: Austin; Boise, Idaho; coastal North Carolina; Columbus, Ohio; Denver; Fort Myers, Florida; Grand Rapids, Michigan; Indianapolis; Inland Empire, California; Kansas City, Missouri; Memphis; Minneapolis; Nashville; New Mexico; Palm Springs, California; Portland, Oregon; Raleigh; Sacramento; Salt Lake City; San Antonio; Seattle, Spokane, Washington; St. Louis; and Virginia.
First launched in October 2023 in San Francisco and Los Angeles, agents who work in Redfin Next markets can earn commission splits of up to 70% for transactions they generate on their own and up to 40% for client leads they receive via Redfin’s website.
Agents on the Redfin Next payment plan are W-2 employees who receive benefits, including health care, 401(k) matches, mileage, dues, technology tools and team support. They also have all marketing expenses for listings paid for — including photography, staging, yard signs and other collateral materials.
“Redfin Next has proven to be even better than we imagined at igniting our salesforce, helping us recruit new talent,” Jason Aleem, Redfin’s chief of real estate services, said in a statement. “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.”
In December, the Glenn Kelman-helmed firm announced that it was expanding the pay structure to its San Diego and Orange County, California, markets. That was followed by a second expansion in March 2024 to launch Redfin Next in seven additional markets —including Chicago, Connecticut, Dallas, Miami, New York City, Washington, D.C., and the growing South Florida hub of Palm Beach.
Since launching, the brokerage says it has recruited more than 140 top-producing agents in Redfin Next marketplaces.
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