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
Rent growth is slowing, but prices are still near record-highs HW+
Jul 13, 2023“The housing market tends to be ‘downside sticky,’ which means rents don’t typically fall much even when renter demand pulls back,” said Redfin Deputy Chief Economist Taylor Marr.
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Tech hub housing markets cool as industry turmoil dampens demand HW+
Mar 27, 2023 -
The typical down payment is 10% smaller than a year ago HW+
Mar 22, 2023 -
Home seller concessions reach pre-pandemic levels HW+
Jan 10, 2023 -
Homebuyers wary of natural disaster-prone areas HW+
Oct 10, 2022 -
Proptech HomeLight raises $115 million, acquires Accept.inc HW+
Jun 16, 2022 -
Compass and Redfin make cuts amid volatile market HW+
Jun 14, 2022 -
IPO no: Why real estate companies stopped going public HW+
May 31, 2022 -
Redfin settles Fair Housing Act lawsuit HW+
Apr 29, 2022 -
Redfin closes $138M deal for mortgage lender HW+
Apr 04, 2022