Redfin is an online brokerage for home buying and selling. The goal of the site is to give consumers an advantage with data and, when possible, a commission refund. The site provides images and data of homes for sale as well as assistance throughout the process. Users can choose to work with Redfin agents in larger metro areas, or partner agents in suburban communities.
Founded in 2002 by David Eraker, Redfin.com averages approximately 650,000 unique visitors per month. It is led by Plumtree Software and Applied Discovery with various investors. Redfin's is backed-up by BEV Capital, Globespan Capital Partners, Madrona Venture Group, Vulcan Capital and others, which have invested a total of $46.8 million in the company.
Many real estate websites simply show basic pictures and descriptions. Redfin provides detailed information as well as connecting users with agents. They offer honest information about the length of time a home has been for sale as well as an agent’s performance statistics. Refin agents are paid based on customer satisfaction, which leads to them working hard to get the best deals for users.
Redfin is not available in all areas, which is a definite drawback. Currently, the regions covered are Atlanta, Boston, Chicago, Long Island, Oregon, Phoenix, Sacramento, San Francisco Bay, Seattle, Southern California, and Washington DC.
Searches are easy to perform and may be limited by price, number of bedrooms, and other defining features. Each property includes detailed information, photos, and a link to Google Maps bird’s eye or street view if available.
When users find a home they wish to tour, they are given choices of agents with profiles and feedback from other users. A contact form is completed online and sent to the agent, who will then contact the user to set up a tour. All of this is accomplished through easily completed online forms.
To register, a first and last name, email address and password are required.
There is no fee to browse the site or to set up appointments to view properties. Fees are only incurred when users enter transactions to purchase a property.
People looking for homes in the areas covered by Redfin representation could benefit from using the services offered on the website. According to their information, users have substantial savings over those who use an independent agent. This is definitely a useful resource.