Technology-Powered Real Estate Brokerage Redfin Arrives in Raleigh-Durham

RALEIGH-DURHAM, N.C., Feb. 14, 2013 /PRNewswire/ -- Redfin, the technology-powered brokerage (www.redfin.com), today announced its arrival in Raleigh-Durham, bringing North Carolinians its one-of-a-kind combination of technology and service, just in time for the spring home-buying and selling season. Redfin is also opening in Charlotte and Houston this month, for a total of 21 major markets across the United States.

"The Raleigh-Durham area is a perfect fit for Redfin," said Redfin CEO Glenn Kelman. "As we've learned from the launch last year of our Austin service, Redfin prospers in mid-sized markets where we can focus on local service, and we do well in research and academic centers with a young, progressive, highly educated population."

Redfin is hosting a free welcome event on Wednesday, March 6 at the Architect's Bar & Social House in Raleigh, from 5 to 7 p.m. to celebrate. For every person who attends this event, Redfin will donate $10 to Communities in Schools of Wake County.

In the Raleigh-Durham area, Redfin agents can now serve buyers and sellers in Chatham, Durham, Franklin, Johnston, Orange, Person, Vance and Wake counties.  

The Redfin model is different from that of other brokers, uniquely aligning agent and customer interests. Every client who works with Redfin receives a satisfaction survey, whether his or her deal closes or not, and every review is published online. Customer satisfaction ratings, not commissions, determine the agents' bonus pay. Additionally, unlike traditional real estate agents, most Redfin agents get salaries, health care benefits, and opportunities for stock options.

"The Redfin commitment to putting the customer first is what first drew me to the company, because customer service has been a part of my business philosophy my entire life," said Allen Wyde, Redfin team leader of Raleigh-Durham. "When I learned about how Redfin uses technology to help both agents and customers, I knew I had to be a part of this."

Julie McGee Sharpe joins Redfin as the area manager for North Carolina. "I am delighted to be a part of Redfin's mission to reinvent real estate, and can't wait to introduce the company to North Carolina," she said. "Redfin understands that a real estate company's best assets are its agents, which is why we're salaried employees with a voice in how the company is run. Not to mention, being paid to make clients happy makes a world of difference in the kind of service we offer."

Redfin refunds homebuyers up to half of the buyer's agent commission. To date, Redfin has refunded clients more than $100 million in commissions. For a $300,000 home, a Redfin client would save more than $2,000. For listing clients, Redfin charges 1.5 percent as opposed to the typical 2.4 to 3 percent of a traditional agent, depending on the selling price of the home. For someone selling a $300,000 home, that would be a savings of up to $4,500. A person who buys and sells a home with Redfin saves on both sides of the transaction. Redfin promotes clients' listings on its website, mobile tools and via e-mail, delivering double the traffic and exposure that other listings get on Redfin.com.

Redfin technology makes home buying and selling more efficient, and technology is the reason Redfin can refund customers thousands of dollars. Additionally, Redfin.com has several website features that benefit consumers directly:

• Home Price Tool: Enables customers to estimate the value of their home based on the same information used by real estate agents.
• Instant Alerts: Texts or emails when new homes are listed or when prices drop.
• Search by School: Shows all the homes for sale served by a certain school with one easy search.
• Offer and Tour Insights: Publishes real-time statistics and notes from Redfin agents about thousands of tours and offers.

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 21 U.S. markets and has closed more than $5 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider. Follow us on blog.redfin.com, on Twitter @Redfin, and Facebook.com/Redfin.

SOURCE Redfin Corporation