Press Releases
Redfin Launches Neighborhood Analytics
Online real estate broker Redfin today released a major new version of Redfin.com that allows consumers to evaluate neighborhood inventory and pricing trends, using data previously accessible only to real estate agents. For each neighborhood, city or postal code covered by Redfin, consumers can view new listings, price reductions, open houses and trends on how many homes are selling, how long they are taking to sell and at what price.
Redfin Releases Data-Driven Report For Negotiating a Bargain When Buying a Home
Online real estate broker Redfin today released a research report identifying seven characteristics of homes that sell for a significant discount off the asking price. The report is the latest in Redfin's "Science of Real Estate" series that analyze proprietary real estate data and academic research to offer home-buyers and –sellers practical advice.
Redfin Launches Online Real Estate Service in Chicago
Online real estate broker Redfin Corporation today launched its real estate e-commerce service for the Chicago area, its eighth market overall and first new market in 2008. Redfin's brokerage, headquartered in Schaumburg, Ill., now serves Cook and Lake counties, but users can search for listings throughout greater Chicago. The company also expanded its real estate search to reach most of California, Illinois, Maryland, northern Virginia, Massachusetts and western Washington, increasing the number of listings and sale records on its site by more than four million, or almost 40 percent, to a total of 16 million homes.
Redfin Completes Three Multimillion Dollar Transactions in April
Online real estate broker Redfin Corporation today reported an increase in high-end homebuyers using Redfin, completing for the first time in its history three transactions in one month worth more than $2 million each, including one transaction that was worth more than $7 million.
Redfin Adds Foreclosure and For-Sale-By-Owner Inventory, Deepens MLS Integration
Redfin today launched a new version of Redfin.com that combines bank-owned foreclosure and for-sale-by-owner listings with broker-listed properties from local Multiple Listing Services (MLS). In the markets that Redfin serves, Redfin.com now displays more homes for sale and more information about those homes than any other website.
Redfin Releases Market Data Showing Its Home Buyers Fare Better in Negotiations
A Redfin analysis of the last 12 months' public real estate records in Seattle and the San Francisco Bay Area that shows its buyers and their Redfin agents negotiated a better price than buyers who used other brokerages. Redfin's average negotiating advantage was $3,594. The company also reported a 95 percent customer satisfaction rate for users of its home-buying service, and an average commission refund of $10,520.
Redfin Releases Dashboard for Listing Customers to Monitor Neighborhood Pricing and Traffic Trends
Redfin today released Redfin Listing Metrics, a dashboard for Redfin's listing customers to analyze neighborhood inventory trends and recent sales, and to compare their listing's online traffic to that of other listings in the neighborhood. With this release, Redfin is also displaying open house information in its map-driven search experience, offering consumers new ways to subscribe to listings, and incorporating a third home-valuation estimate, from Cyberhomes.
Redfin Goes Deep with High-Frequency Listing Updates
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.
Redfin Offers Home Buyers More Property Tours
Online real estate broker Redfin Corporation today rolled out a 75-day trial of a new home-tours policy that allows visitors to its site to arrange four Redfin-hosted home tours without paying any money up-front or making any commitment to Redfin. The first two tours would be free, and the third and fourth tours would cost $250 at closing, with any subsequent tours costing $250 in advance. Redfin separately announced a new release of its website that offers a deeper real estate search experience, with more listing information and neighborhood market analysis features.
Redfin Launches "Sweet Digs" in Boston and Washington, D.C.
Online real estate broker Redfin Corporation today launched its online real estate blog, "Sweet Digs," for the first time on the East Coast. Home buyers and sellers in Greater Boston and the Washington, D.C. metro area can read local, data-driven real estate market information online or in a daily email newsletter.
Redfin Surpasses $10 Million in Commission Refunds for Home Buyers
By the end of last year Redfin had refunded more than $10 million in commissions to home buyers. Since the launch of the home-buying service in February 2006, Redfin has helped more than 1,000 people buy a home, with an average refund of $10,106. The company also offers a home-selling service, in which nearly 300 home sellers have saved more than $3 million in commissions, for an average savings of $12,142.
Redfin Releases New Data-Driven Report For Selling Homes More Quickly, at a Higher Price
The report recommends seven tactics for selling a home more quickly and at a higher price. The report, which Redfin developed as part of its own data-driven program for selling homes, is the first to combine academic research, listing data from broker databases, and traffic patterns from a real estate website.
Redfin Launches "Sweet Digs" as Southern California's Online Real Estate Magazine
Home-buyers in Los Angeles, Orange County and San Diego neighborhoods can read daily, local real estate market information via the Sweet Digs blog or email newsletter.
Redfin Launches Real Estate E-Commerce Service for the Washington, D.C. Area
Service for the Washington, D.C. and Baltimore areas adds more than 50,000 property listings to Redfin.com. The company also opened its first East Coast headquarters in Falls Church, Virginia.
Redfin Closes $12 Million Financing Led by Draper Fisher Jurvetson
Madrona Venture Group, Vulcan Capital, BEV Capital and The Hillman Company, investors in previous financings, also participated in this round. Redfin has raised $20.8 million to date. Redfin will use the proceeds to continue national expansion and to further the company's investment in its market-leading website for buying and selling homes.
Redfin Launches Online Forums Redfin Launches Online Forums for Real Estate Do-It-Yourselfers
Redfin Forums is local message boards for real estate do-it-yourselfers. Unlike forums aimed at connecting consumers with real estate agents, Redfin Forums is designed to let consumers communicate with one another.
Redfin's Sweet Digs Returns With New Analytical Format
Adds More Neighborhoods in San Francisco Bay Area and Seattle, Sweet Digs for Southern California and Boston Coming Soon
Redfin Wins Company of the Year Award From Alliance of Angels
The award honors and encourages the entrepreneurial spirit of new businesses in the Pacific Northwest.
Redfin Stops "Sweet Digs" Property Reviews
Northwest Multiple Listing Service rules stop Redfin from reviewing other brokers' listings.
Redfin Launches Real Estate E-Commerce Service for the Boston Area
Redfin is the first major online real estate brokerage to open for business in Boston, with coverage across Essex, Norfolk, Middlesex and Suffolk counties. Boston is the first East Coast market Redfin has opened as part of a national expansion effort that began with its February launch in Southern California.
Redfin Launches Re-branded Website
The new site features a new color scheme and logo, better performance, a larger map, larger property photos, and simpler navigation between individual properties and aerial views of a neighborhood.
Redfin Launches Real Estate Consumer's Bill of Rights
The bill is a set of ten rights designed to ensure that consumers get complete and open access to information about properties and the process of buying or selling properties.
IRS Rules That Redfin Does Not Have to Report Commission Refunds as Taxable Income
Redfin is notifying all of its home-buying customers by mail that the company will not report their commission refunds to the IRS.
Redfin Releases Market Analysis Showing Its Agents Negotiate More Effectively Than Industry Average
Finds .893% negotiating advantage, 1.952% average commission refund, 95% customer satisfaction; the most common type of Redfin buyer is a first-timer.
Redfin Launches Real Estate E-Commerce Service for Southern California
Redfin simultaneously opens local offices in Los Angeles, Orange County and San Diego markets.
Redfin Launches "Sweet Digs" as the Bay Area's Online Property Review Magazine
Site builds on Seattle success: 41% readership growth in less than two months.
Redfin Integrates Microsoft Virtual Earth Map Platform, Continues Expansion in Greater Seattle and San Francisco Bay Areas
Redfin also more than doubled its geographic coverage in the Greater Seattle and San Francisco Bay Areas; and added online agent chat and more listing information such as homeowner's dues.
Redfin Hires Michael Young as Chief Technology Officer
Mr. Young brings to Redfin a long history as a leader and an architect at successful start-ups.
Redfin Launches "Sweet Digs" as Seattle's First Online Property Review Magazine
Published as a blog, Sweet Digs will offer as many as 30 eyewitness reviews per week of properties for sale in Seattle-area neighborhoods.
Redfin Hires Dave Wilner as Vice President of Real Estate Operations
Responsible for both strategy and execution, Wilner's charter is to deliver on the company's 100 percent customer satisfaction guarantee and to expand Redfin's real estate business nationwide.
Redfin Adds Zillow.com Property Valuations, New Search Capabilities
Visitors can search across an entire market for fixer-uppers and distressed listings, and compare prices against Zillow's home-valuation estimates. Redfin is the first to empower users to search for fixer-uppers.
Redfin Launches Free Home Tours and Pre-Inspections
New services part of red carpet program to make it easier to buy and sell real estate online.
Redfin Reaches $1 Million in Home Buyer Refunds in Six Months
Commission refunds average nearly $10,000.
Redfin Kicks Off Startupalooza
Seven high-tech start-ups gather in Pioneer Square for a networking and recruiting event.
Redfin Launches Industry's First Online Home-Selling Service
Adds new web site features including Ask an Agent, neighborhood search, improved map experience.
Redfin Opens San Francisco Office
San Francisco office will support national expansion plans, and aggressive research and development hiring.
Redfin to Offer 100% Satisfaction Guarantee Through Closing
But unlike a traditional brokerage, Redfin also guarantees it services through closing. If a customer buys a home through Redfin but becomes unhappy during the closing process, Redfin completes the close but refunds its entire fee.
Redfin Releases Customer Satisfaction Survey Results
97% of customers satisfied, 70% recommended Redfin to three friends or more.
Redfin Wins Innovator of the Year Award From Inman News at Real Estate Connect
The award recognizes Redfin Direct for letting consumers buy a home online and get two-thirds of the commission refunded at closing.
Redfin to Testify Today at Congressional Hearing on How the Internet is Changing Competitive Dynamics in Real Estate
Redfin will explain in its testimony how federal law can foster increased innovation and competition, by ensuring that all brokerages have fair and equal access to listing data so that listing services can't exert monopoly power.
Redfin and Inman Co-Found Web Developer Conference for Real Estate Industry
Google and Microsoft to co-sponsor event, Redfin to use event as launchpad for real estate 2.0.
Redfin Announces $8 Million in Series B Funding
Vulcan Capital, BEV Capital and The Hillman Company join Madrona Venture Group in funding industry's first online real estate brokerage.
Redfin Launches Online Real Estate Brokerage in San Francisco Bay Area
Opened new offices in San Jose, San Francisco and the East Bay to provide local customer support. First milestone in national expansion.
Redfin Releases Industry's First Map-Driven Analytics
As a home-shopper pans across the Redfin.com map, MapStats continuously calculates average and median price, price per square foot and average numbers of bedrooms and bathrooms for the listings shown on the map, allowing the shopper to compare a listing to the rest of the neighborhood.
Redfin Announces First Customers to Buy Online, Releases First Customer Satisfaction Data
The seven customers received an average commission refund of $11,402. 100% of the customers who responded to the survey said they would recommend Redfin to a friend
Redfin Launches Industry's First Online Home-Buying Service
By using Redfin's site to do the house-hunting legwork on their own, Redfin Direct customers earn two-thirds of the buyer's agent commission for themselves, applied at closing.
Redfin Hires New Executives from Amazon and Plumtree, Raises Capital
Redfin also raised its first round of venture capital from Madrona Venture Group to develop new e-commerce services and to expand to major markets across the United States.
