Redfin Launches Industry's First Online Home-Selling Service

Adds New Web Site Features Including Ask an Agent, Neighborhood Search,

Improved Map Experience



Sep 06, 2006, 01:00 ET from Redfin Corporation

    SEATTLE, Sept. 6 /PRNewswire/ -- Online real estate broker Redfin
 Corporation today launched the industry's first online home-selling service
 and a new version of Redfin.com that lets buyers submit questions about a
 property to sellers and listing agents.
     The online home-selling service, Redfin Direct for Sellers, is based on
 a Web application for capturing the information required to list a property
 in the multiple listing service (MLS). As with Redfin Direct for Buyers,
 experienced local agents handle offers, negotiations, contingencies and
 closing. Redfin gives every seller the same 100-percent-satisfaction
 service guarantee that the company launched in August for its buyers
 program.
     Redfin Direct for Sellers costs $2,000, saving sellers more than
 $10,000 in commissions on a $500,000 listing. Since July, more than 25
 customers in Washington and California have participated in a limited
 release of the Redfin Direct for Sellers program, each saving an average of
 $10,000; 96 percent sold their property 4 percent, on average, over asking
 price.
     Beta customer Joseph Parker received an offer two days after listing
 his Seattle condominium in Redfin: "The team from Redfin answered all of my
 questions promptly, guided me towards a successful sale, and even
 negotiated a higher asking price."
     The Tuttle family of Seattle used Redfin Direct for Sellers, selling
 their home over asking price. "Our experience buying our new home and
 selling our old one with Redfin exceeded our expectations," said Jon
 Tuttle. "The model really does work as advertised."
     "After seeing how easy it was, I can't see myself ever going back to a
 traditional service," said Redfin customer Peter Turok, who saved $27,900
 in commissions.
     In addition to the sellers program, Redfin launched a new version of
 Redfin.com, the leading map-driven real estate search Web site. New
 features include:
      --   Ask an agent: gives buyers the ability to request agent-only
           comments for any property and submit questions to the seller and
           listing agent.
      --   Neighborhood search: allows users to search by neighborhood, easing
           map navigation for home-buyers unfamiliar with zip codes and
           addresses.
      --   Improved map experience: lets users rapidly move around the map
           using a list of properties sorted by price, square footage and time-
           on-market.
      --   Property tabs: lets viewers track multiple properties in a tabbed
           interface for easy navigation between listings and the map.
      --   Appreciation statistics: gives buyers appreciation values based on
           comparisons between a property's listing price and previous sales
           price.
      --   Self-service documentation: supplies new information on how to buy
           or sell a property through Redfin, including home tours, staging and
           marketing.
     "Many customers are now using Redfin to buy a new home and to sell the
 other, saving over $20,000 on the two transactions," said Redfin CEO Glenn
 Kelman. "Customers get to work with the same local agent on both
 transactions so we can coordinate the timing on a worry-free move."
     About Redfin
     Redfin (www.redfin.com) is the real estate industry's first online
 brokerage. By combining maps, listings, tax records and analytics, Redfin
 has become Seattle's most popular brokerage site, and is now available in
 the San Francisco Bay Area. 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, negotiations and closing. To
 give the Redfin service a try, visit www.redfin.com, or keep track of our
 daring exploits via our blog, at http://blog.redfin.com .
 
 

SOURCE Redfin Corporation
    SEATTLE, Sept. 6 /PRNewswire/ -- Online real estate broker Redfin
 Corporation today launched the industry's first online home-selling service
 and a new version of Redfin.com that lets buyers submit questions about a
 property to sellers and listing agents.
     The online home-selling service, Redfin Direct for Sellers, is based on
 a Web application for capturing the information required to list a property
 in the multiple listing service (MLS). As with Redfin Direct for Buyers,
 experienced local agents handle offers, negotiations, contingencies and
 closing. Redfin gives every seller the same 100-percent-satisfaction
 service guarantee that the company launched in August for its buyers
 program.
     Redfin Direct for Sellers costs $2,000, saving sellers more than
 $10,000 in commissions on a $500,000 listing. Since July, more than 25
 customers in Washington and California have participated in a limited
 release of the Redfin Direct for Sellers program, each saving an average of
 $10,000; 96 percent sold their property 4 percent, on average, over asking
 price.
     Beta customer Joseph Parker received an offer two days after listing
 his Seattle condominium in Redfin: "The team from Redfin answered all of my
 questions promptly, guided me towards a successful sale, and even
 negotiated a higher asking price."
     The Tuttle family of Seattle used Redfin Direct for Sellers, selling
 their home over asking price. "Our experience buying our new home and
 selling our old one with Redfin exceeded our expectations," said Jon
 Tuttle. "The model really does work as advertised."
     "After seeing how easy it was, I can't see myself ever going back to a
 traditional service," said Redfin customer Peter Turok, who saved $27,900
 in commissions.
     In addition to the sellers program, Redfin launched a new version of
 Redfin.com, the leading map-driven real estate search Web site. New
 features include:
      --   Ask an agent: gives buyers the ability to request agent-only
           comments for any property and submit questions to the seller and
           listing agent.
      --   Neighborhood search: allows users to search by neighborhood, easing
           map navigation for home-buyers unfamiliar with zip codes and
           addresses.
      --   Improved map experience: lets users rapidly move around the map
           using a list of properties sorted by price, square footage and time-
           on-market.
      --   Property tabs: lets viewers track multiple properties in a tabbed
           interface for easy navigation between listings and the map.
      --   Appreciation statistics: gives buyers appreciation values based on
           comparisons between a property's listing price and previous sales
           price.
      --   Self-service documentation: supplies new information on how to buy
           or sell a property through Redfin, including home tours, staging and
           marketing.
     "Many customers are now using Redfin to buy a new home and to sell the
 other, saving over $20,000 on the two transactions," said Redfin CEO Glenn
 Kelman. "Customers get to work with the same local agent on both
 transactions so we can coordinate the timing on a worry-free move."
     About Redfin
     Redfin (www.redfin.com) is the real estate industry's first online
 brokerage. By combining maps, listings, tax records and analytics, Redfin
 has become Seattle's most popular brokerage site, and is now available in
 the San Francisco Bay Area. 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, negotiations and closing. To
 give the Redfin service a try, visit www.redfin.com, or keep track of our
 daring exploits via our blog, at http://blog.redfin.com .
 
 SOURCE Redfin Corporation