Redfin has launched what it is calling Redfin Early Access, a new search category featuring homes “buyers won’t find on other major real estate sites,” which include both Compass Coming Soon listings through a previously announced partnership as well as properties listed through the company’s brokerage.
According to a release from the portal, the category will not accrue stats like days on market or price drops, and receive “premium placement” in searches, along with a special stick denoting they are exclusive to Redfin.
“A lot of homeowners want to sell, but are not ready to commit to full exposure,” said Redfin Chief of Real Estate Services Jason Aleem in a statement. “Giving sellers more control over how they enter the market gives them more confidence. Redfin Early Access lets sellers test the market before going all-in, while giving buyers a first look at homes they won’t find on other major sites. That’s good for sellers, good for buyers and good for a housing market that desperately needs more inventory.”
The announcement comes amid a broader battle over exclusive inventory, with all major portals launching or partnering for their own version of a pre-market program. Compass has led a campaign against rules that restrict these listings, focused on archrival Zillow and MLSs that limit pre-market exposure or practices.
All visitors to Redfin’s site and app can browse Redfin Early Access listings in search results, favorite and share homes and connect with the listing agent to learn more or schedule a tour. Buyers can save a search on Redfin and get instant notifications for Redfin Early Access listings that match their criteria.
The company touted a recent Redfin survey that found 83% of prospective home sellers are interested in listing their home as “coming soon” before a broad market debut. The April survey of 1,000 U.S. homeowners suggests many sellers want a lower-pressure way to test the market.
Overall, recent studies on pre-market and private listings have delivered somewhat conflicting results on their effectiveness and demand.
