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Redfin Celebrates Company Growth, Industry Advances

""Redfin"":http://www.redfin.com/home announced that as of mid-November, it has saved customers more than $100 million in real estate fees and reached more than $8 billion in home sales.

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According to Redfin, customers have saved more than $25 million on fees in 2012 alone. The company also boasts a satisfaction rate of 97 percent.

""The changes that Redfin is bringing to the whole process of buying and selling a home are now happening at a meaningful scale,"" said Redfin CEO Glenn Kelman. ""And saving customers more than a hundred million in fees is only part of the story.""

According to a company release, Redfin has grown faster than any other large-scale brokerage, even during a time when home sales fell to a third of their peak. Across the 19 markets Redfin serves, Redfin.com is among the [COLUMN_BREAK]

most-visited brokerage websites, and the company's mobile applications have been the highest-rated among all real estate tools.

Growth has even extended to Redfin's Seattle headquarters, where the company is gearing up to double its current workspace. By the end of the year, Redfin will have added more than 400 agents, software engineers, and other positions.

The secret, the company says, is in its approach to customer service. Every client who attempts to buy or sell a home with a Redfin agent receives a satisfaction survey, regardless of whether or not the deal closes. Every review is published to an online map, showing customers where the agent has succeeded and failed at representing buyers and sellers. It's those ratings, not commissions, that determine agents' bonus pay.

In addition, the company promotes listings on its website, mobile tools, and via email, doubling traffic and exposure. The additional exposure and the review system are the main reasons why Redfin managed to, on average in 2011, sell homes 15 days faster than other brokerages at $8,700 higher than the asking price, the company said.

""We have prospered by being the best, not the least expensive,"" Kelman said. ""And the scale we have achieved isn't simply a reflection of our success; it's instrumental to our success. We can now meet every client and know every block because we're reaching the point where we can employ local agents in each of the neighborhoods we serve.""

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