Redfin.com - Shaking Up the Real Estate Industry

Seattle based Redfin is an online real estate brokerage. Customers can search for homes on the websites and then arrange tours with Redfin agents. Their agents are there to guarantee customer satisfaction, provide information, and process paperwork. Offers on property can be drafted online. Customers actually end up saving bundles on commission. For home buyers, Redfin provides maps, property outlines, appraisals and tax records. Searches can be performed by neighborhood and city; results can be refined by price, rooms, etc. Unlike traditional brokerages, Redfin maintains a standard of transparency; information is published for free on the website, so customers aren’t dependent on the agent. Also agents are given bonuses for higher customer satisfaction. The company currently provides services in the D.C. area, San Francisco and surroundings, Seattle, and southern California.

"Redfin is the industry's first online brokerage for residential real estate. Customers search for homes on our website, arrange tours with Redfin and, when they've found a home they like, draft an offer online. For each transaction, the same agent handles the negotiations, contingencies and paperwork; customers can meet their Redfin agent prior to submitting an offer. The process is similar for listing a home. The average customer saves more than $10,000 in commissions."

Redfin is the only online real estate service that combines brokerage and search. Their service is customer oriented—they’re not into pressure tactics or underhanded schemes. Redfin aims to help customers save money.

Will Redfin expand to include other regions of the US? Will they add more search options? Are they really going to make a dent in the real estate industry?