Redfin
Redfin is a technology-powered real estate company that supports consumers with brokerage, iBuying, rentals, lending, title insurance, and renovation services. The company was founded in 2006 and is headquartered in Seattle, Washington, with more than 50 offices located throughout the country. In all, Redfin serves more than 100 markets across the U.S. and Canada. The company is led by chief executive officer Glenn Kelman.
Redfin integrates every step of the home buying and selling process and pairing its own agents with proprietary technology, creating a service that is faster, better and costs less. Through its Direct Access tech platform, Redfin enables homebuyers in 22 U.S. markets to tour vacant homes without an agent by using the Redfin app to unlock the home. According to Redfin, homes with Direct Access receive, on average, twice the number of tours as other homes. In conjunction with this capability, Redfin partnered with ADT security to help equip homes with smart locks and sensors that allow buyers to easily enter and tour homes, and enable sellers to stay informed on who is entering and exiting the property. The goal is to expand this program nationwide in the future.
Redfin announced that in 2020, it has saved its customers more than $1 billion since 2006 by charging a low 1% listing fee when a customer sells and buys their next home with a Redfin agent, compared to the 2.5 to 3% listing fee that is typical of most brokerages.
Moving forward, Redfin is leading efforts to make real estate fees more transparent by listing fees and buyer refund amounts publicly, as well as publishing the buyer’s agent commission being offered for every listing on Redfin.com in more than 75 U.S. markets.
Latest Posts
How low do mortgage rates need to go before borrowers appear?
Aug 27, 2024Even as the real estate and mortgage markets are seeing light at the end of the tunnel following two difficult years of conditions, mortgage rates have yet to ease enough to create a surge of demand for purchase loans and refinances.
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Starter home growth is sparking buyer activity: Redfin
Aug 26, 2024 -
Redfin’s latest layoff round hits brokerage services biz
Aug 22, 2024 -
Mortgage rates hold steady ahead of Powell’s Jackson Hole speech
Aug 20, 2024 -
Investors bought one in six homes sold in Q2 2024: Redfin
Aug 16, 2024 -
Almost half of listing inquiries don’t receive a response from an agent: DelPrete
Aug 13, 2024 -
Total value of U.S. homes on the brink of $50 trillion: Redfin
Aug 08, 2024 -
Plaintiffs respond to brokerage defendants’ motions to dismiss Batton 2 suit
Aug 07, 2024 -
Redfin CEO reacts to housing market with ’Twilight Zone’ conditions
Aug 06, 2024 -
Climate change risk isn’t impacting migration patterns: Redfin
Aug 05, 2024 -
Buyer agent commissions down to 2.55% since the NAR settlement
Aug 02, 2024 -
Renter household growth triples the rate for homeowner households: Redfin
Aug 02, 2024