Redfin Amps Listing Business; Sells Homes Faster and for More Money

SEATTLE, Jan. 31, 2013 /PRNewswire/ -- Technology-powered real estate broker Redfin (www.redfin.com) today announced that its listing business grew 120% in 2012, despite a housing market with the fewest listings in more than a decade. The company plans to more than double its staff of listing agents this year in order to serve increasing demand from its expanding customer base. Home sellers are increasingly drawn to Redfin's proprietary technology, such as the Home Price Tool, as well as its exclusive online marketing program, which delivers double the Web exposure for every listing.

According to a report also released today, Redfin's 2012 listing customers on average sold their homes for $2,700 more than surrounding properties listed by other brokers, six days faster, with a 12% higher likelihood of selling, while saving more than $8,500 in commissions. Find the complete "Redfin Faster for More Money" analysis here.

"The reason Redfin sells homes faster for more money and with less risk is simple: we hold every Redfin agent accountable to the promises she makes when first visiting homeowners in their living room," said Redfin CEO Glenn Kelman. "A Redfin agent's bonus depends not only on whether the home sold, but also on whether the client's happy with the sale. Redfin also promotes every listing on its top-ranked website, mobile applications and email channels; our own listings get double the traffic on Redfin.com that others do, and so of course we find more buyers for our clients, faster than anyone else."

The Redfin online marketing program benefits clients through:

• Premium placement on Redfin.com, which is among the most highly trafficked brokerage sites in every market it serves.
• Customized email campaigns to targeted groups of buyers searching for similar homes on Redfin.com.
• Professional photography and flyers, paid for by Redfin.
• An online marketing dashboard that tracks website traffic to the listing and feedback from people who tour it.

The Redfin model is different from that of other brokers, uniquely aligning agent and customer interests. Redfin clients save up to 1.5 percent in commissions, depending on the selling price of the home, with an average savings of $8,500. Redfin is the only real estate company that pays agents based on customer satisfaction thereby holding agents accountable for the selling price they recommend. Additionally, unlike traditional real estate agents, most Redfin agents get salaries, health care benefits, and opportunities for stock options.

Redfin is also the only company that publishes reviews of its own agents—good and bad—for all potential clients to see.

About Redfin
Redfin (www.redfin.com) is a technology-powered real estate broker that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not sales-people, earning customer-satisfaction bonuses, not commissions. Redfin's online tools feature all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. The company serves 19 U.S. markets, and has closed more than $5 billion in home sales. Follow us on blog.redfin.com or@Redfin.

SOURCE Redfin