Online real estate broker Redfin today announced that the company won Inman News' prestigious 2006 Innovator Award for the Most Innovative Business Model. Bradley Inman, founder and publisher of Inman News, presented the award in a ceremony Wednesday, July 26th, at Inman News' Real Estate Connect San Francisco 2006 conference. The award recognizes the winner's service, Redfin Direct, for letting consumers buy a home online and get two thirds of the commission refunded at closing.

"In today's economy, innovation determines success," said Bradley Inman, founder and publisher of Inman News. "In the view of myself and my editorial board, Redfin has earned this award by finding new ways to succeed."

"For a company that prizes innovation and customer service as its defining characteristics, Redfin is proud to have been recognized for having the industry's most innovative business model," said Redfin CEO Glenn Kelman. "The award is especially meaningful coming from Inman News, which has long been the voice of the real estate industry. We believe our winning reflects a new openness to Internet service within the industry that was, for us, the most noteworthy aspect of this year's conference."

This year's other winners are listed below:

Category: Innovator of the Year Winner: Mark Lesswing, Vice President, National Association of REALTORS®, Center for REALTOR® Technology

Category: Most Innovative Real Estate Blog Winner: UrbanDigs.com

Category: Most Innovative Real Estate Data Site Winner: PropertyShark

Category: Most Innovative Technology Winner: CellSigns, Inc.

Category: Most Innovative Mortgage Company/Service Winner: Air Force Federal Credit Union

Category: Most Innovative Brokerage/Franchise/Realtor Winner: RE/MAX International, Inc.

Category: Most Innovative Web Service Winner: Trulia

Category: Most Innovative Media Site Winner: October Research Corporation

Category: Most Innovative Rental/ New Home Online Service Winner: MyNewPlace

Since the launch of the Inman News Innovator Awards in 1997, Inman News has recognized enterprises that have demonstrated extraordinary levels of innovation through the use of technology or the Internet that enhance the real estate transaction for consumers, positively impact the real estate industry and redefine key business models within the market. Additionally, one individual who embodies the spirit of innovation in real estate is honored each year.

Winners from prior years include Google Earth, Century21 ClickIt, RealLiving, Curbed.com, ApartmentRating.com, NY Times Real Estate, Metrocities Mortgage, Cendant LeadRouter, Fidelity PHD, E*TRADE, E-LOAN, Lending Tree, Coldwell Banker Real Estate Corporation, and many more.

Redfin (www.redfin.com) is the real estate industry's first online brokerage, combining a customer-focused team of real estate agents with online tools for making the process of buying or selling a home easy. Redfin is the only major search site to feature listings direct from broker databases as well as for-sale-by-owner and foreclosure properties from across the Internet. The company pays its agents customer-satisfaction bonuses, not commissions, and surveys every client, publishing each survey as well as details on the agent's negotiating performance and deal history. Redfin's service is available in the metropolitan areas of Boston, Chicago, Seattle, Washington DC, Baltimore, New York's Long Island and Westchester County as well as most of California, including the San Francisco Bay Area, Southern California and Sacramento. To keep track of our daring exploits, subscribe to blog.redfin.com or our Twitter feed @redfin.