Redfin Goes Deep With High-Frequency Listing Updates, More Comprehensive Property Data, Neighborhood Pricing Tools

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A F REDFIN LOGO REDFIN LOGO Redfin Corporation. (PRNewsFoto/REDFIN CORPORATION)[TK] SEATTLE, WA UNITED STATES 08/12/2008

    SEATTLE, Jan. 31 /PRNewswire/ -- Online real estate broker Redfin
 Corporation today released a new version of Redfin.com designed to give
 buyers the most thoroughly informed real estate search experience on the
 Internet, with new neighborhood boundaries and pricing analysis tools, more
 third-party data and extremely high-frequency updates from Multiple Listing
 Services (MLSs), the proprietary databases used by brokers to share listing
 information. The site also now supports the Apple Safari browser.
 
     (Logo: http://www.newscom.com/cgi-bin/prnh/20070426/SFTH054LOGO)
 
     Separately today, Redfin announced an expanded home-tours program,
 offering customers one additional home tour, with additional tours paid at
 closing rather than in advance.
 
     The Most-Up-to-Date Listing Data
 
     To offer consumers the most immediate access to details about newly
 listed properties, Redfin increased the frequency of listing updates from
 ten of its 16 member MLSs, allowing Redfin.com users to access new listing
 information as quickly as 15 minutes within a property's being listed,
 re-priced or sold.
 
     The Most Complete Information About Each Listing
 
     The new version of Redfin's site also provides significantly more
 information about each listing. Prior to this release, Redfin.com already
 offered for each listing comprehensive photos and amenity details, precise
 lot outlines, county tax records, school and community information, and
 market value estimates from Zillow.com. With this release, Redfin also now
 provides for each listing:
 
 

     --  a set of similar listings and recently sold properties,
     --  a complete history of any price changes since the listing became
         active,
     --  a second market value estimate from eppraisal.com,
     --  local Redfin blog and message board conversations, and
     --  photographic bird's-eye views of the property.
 
     Redfin also now identifies users' favorite listings with a special icon
 on its map interface.
 
     Support for In-Depth Pricing Analysis
 
     Beyond delivering data about individual listings, this release gives
 consumers a platform for analyzing prices in entire neighborhoods. Rather
 than using on-screen map boundaries to define the geographic parameters of
 a real estate search, Redfin.com users now can use neighborhood outlines as
 search boundaries, calculating median price, price per square foot and
 other metrics for that neighborhood. For the first time, users can download
 data to a spreadsheet for an in-depth analysis. Home buyers can use the
 data to prepare a comparative market analysis to estimate the value of a
 home.
 
     "Serious home buyers want up-to-the-minute information about all the
 homes for sale, straight from the real estate agents updating the MLS,"
 said Redfin Chief Technology Officer Michael Young. "Redfin's goal is to
 delight our audience of hard-core real estate fanatics by offering Freakish
 Depth on major real estate markets: more frequent listing updates, more
 photographs, more listing details, more pricing estimates, more analytical
 tools."
 
     "And thank goodness!" Redfin's Mr. Young added. "We now support
 Safari."
 
     About Redfin
 
     Redfin (http://www.redfin.com) is the real estate industry's first
 online brokerage, currently available in Greater Boston; the San Francisco
 Bay Area; Greater Seattle; Southern California, including Los Angeles,
 Orange County and San Diego; and the Washington, D.C area, including
 Baltimore. By combining maps, listings, tax records and analytics, Redfin
 has become one of the most popular brokerage sites. Customers who use
 Redfin.com to buy or sell properties earn a refund of most of the
 commission traditionally due their broker, and get full support in
 paperwork, offer presentation, negotiations and closing. Redfin has one of
 the highest customer satisfaction rates in the industry, and is the only
 brokerage with a 100-percent-customer-satisfaction guarantee. To give the
 Redfin service a try, visit http://www.redfin.com; to keep track of our
 daring exploits via our blog, go to blog.redfin.com.
 
 
 

SOURCE Redfin Corporation