Redfin
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Redfin is a Seattle-based company that lets you buy and sell MLS-listed homes online. The company claims to be industry's first online real estate brokerage.
For sellers, it charges a flat fee ($2000) to list the property on multiple listing service (MLS), and it has local agents representing sellers in negotiations and closing. However, sellers need to take the pictures, host open house and show the property to prospective buyers.
For buyers, it refunds 2/3 of buyer commission (usually 3% of sale price) and assists with paperwork along the way.
Redfin provides 24/7 phone support and 100% money back guarantee. It is one of few sites that shows how long the property has been on market (DOM).
Redfin received $8 million second round funding from Vulcan Capital, the investment arm of Microsoft co-founder Paul Allen. Redfin currently covers the following metropolitan areas: Seattle, San Francisco, Los Angeles, Orange County, and San Diego.
[edit] Sources and external links
- Redfin
- "The Last Stand of the 6-Percenters" by Damon Darlin, The New York Times, September 3, 2006
- "Redfin offers one-stop shopping for homes" by Elizabeth Rhodes, Seattle Times, February 4, 2006
- "2 Web Sites Push Further Into Services Real Estate Agents Offer" by Damon Darlin, The New York Times, February 8, 2006.
- "Redfin revolution: In competitive real-estate industry, Redfin model is working" by By Elizabeth Rhodes, The Seattle Times, February 24, 2007.
