Technology based real estate broker Redfin revealed its listing business expanded by 120% in 2012, despite a relatively small housing inventory nationwide.
Because of its significant recent growth, the company has plans to more than double its staff of listing agents in 2013 in anticipation of its increasing demand from customers.
The Redfin report announced that its customers sold their homes for $2,700 more than surround properties sold by other brokers. Additionally, homes left the market six days sooner when listed on Redfin, with a 12% higher likelihood of selling, while also saving more than $8,500 in commissions.
Redfin CEO Glenn Kelman attributes the company’s success last year to its agents. "The reason Redfin sells homes faster for more money and with less risk is simple: we hold every Redfin agent accountable to the promises she makes when first visiting homeowners in their living room," said Kelman. "A Redfin agent's bonus depends not only on whether the home sold, but also on whether the client's happy with the sale.”
Redfin also publishes all reviews of its agents, both good and bad, for potential clients to see.