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
Agents in Illinois grapple with the state’s housing inventory shortage
Feb 08, 2024Agents in Illinois are struggling with a severe lack of inventory, which has been unable to keep up with buyer demand. Let’s dive in.
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Political preferences increasingly influence migration patterns: Redfin
Feb 07, 2024 -
Redfin launches new homebuyer refund program
Feb 02, 2024 -
Buyers can afford more expensive homes on the back of lower mortgage rates: Redfin
Jan 29, 2024 -
Nevada plaintiff adds 15 brokerages to commission suit
Jan 26, 2024 -
Empty-nesters own twice as many large homes as millennials with children
Jan 16, 2024 -
More homeowners might be ready to sell despite the lock-in effect: Redfin
Jan 12, 2024 -
Where the NAR is losing members
Jan 05, 2024 -
Maryland home seller files commission lawsuit in Missouri
Jan 02, 2024 -
The pandemic-induced migration boom is waning: Redfin
Dec 29, 2023 -
Redfin expands new pay plan to two new California markets
Dec 11, 2023 -
2023 was the worst year for homebuyers on record
Dec 08, 2023