Table of Contents
What sector is Redfin?
Real Estate
Key Data
| Label | Value |
|---|---|
| Sector | Finance |
| Industry | Real Estate |
| 1 Year Target | $65.00 |
| Today’s High/Low | $49.15/$47.26 |
Is Redfin part of MLS?
Yes! Our website and mobile apps pull directly from the local real estate database (MLS), which is updated by local listing agents from a variety of brokerages. Redfin pulls updated information from the MLS every 5 minutes.
Is Redfin a tech company?
Redfin is a small but fast-growing broker that uses technology to drive down costs. Its original claim to fame: Lower commissions than traditional brokerage firms. Its agents’ commission is just 1% for those who use Redfin to both buy and sell a home, far less than the 2.5% to 3% charged by most of its peers.
Is Redfin a big company?
In June 2014, Seattle Business magazine recognized Redfin as the best company to work for in 2014 in the Large Companies category and Redfin was placed number one out of 21 large, Seattle-based companies. Redfin went public on July 28, 2017. The IPO raised $138 million.
Why is Redfin bad?
The biggest Redfin con is that agents handle 3x as many customers as traditional realtors. When agents get too busy, they may not be able to give you as much personalized support as you need. This hands-off approach isn’t the best fit for everyone. Learn more about how Redfin compares to traditional realtors.
What is Redfin Commission?
We charge a 1.5% listing fee when you sell, and a 1% listing fee when you sell and buy with us. Our customers who sell first, then buy, will pay a 1.5% listing fee on their sale, then get a check back for that 0.5% once they buy, subject to our minimums.
Why is Redfin so cheap?
The number one advantage of Redfin is in cost savings. Redfin is able to do this because they pay their agents on a flat rate, rather than a percentage commission. Redfin’s other advantage, which you get even if you don’t buy through them, is one of the most well-designed real estate search engines available.
Why is Redfin estimate higher than Zillow?
Margin of Error Each company has an estimate of their own accuracy: Redfin claims their estimates for active homes on the market have a current median error rate of just 1.77%, and off-market homes are within 6.64%. Because of the smaller number of listings available, Redfin can look at more details than Zillow.
Which is better Redfin or Zillow?
Nationally, Zillow is slightly more accurate than Redfin. However, their accuracy varies from city to city and state to state, and Redfin is more accurate in some areas. Both estimates are reasonably precise for homes currently on the market but are much less accurate for homes not currently listed for sale.
Is it worth it to be a Redfin partner agent?
Redfin Partner Program is one of the worst consumer brokering programs in the market because it implies that consumers will get a lower listing rate, or a refund from the Partner Agent shown on the Redfin website, but due to price fixing antitrust law this is not true.
Is Redfin a good company?
Redfin was a great company to work for, initially. The culture was great, and the opportunities were abundant. The benefit package is great, and it can be a good learning environment. Performance numbers and customer surveys are micromanaged.
Does redfin buy homes?
According to Inman News, Redfin began its own ‘iBuyer’ program in 2018. Like Zillow and Opendoor, Redfin Now uses this program to buy homes directly from sellers instead of listing them. You can get a cash offer from Redfin Now, and avoid listing or showings altogether. They’ll just buy your home and take on a 7% fee.
What does redfin stand for?
Redfin(noun) a small North American dace (Minnilus cornutus, or Notropis megalops). The male, in the breeding season, has bright red fins. Called also red dace, and shiner. Applied also to Notropis ardens, of the Mississippi valley.
How does redfin work for seller?
When you work with a Redfin real estate agent to sell your home, you’ll receive free professional photos as part of the service. Redfin will also do a 3D scan of your house, so that buyers can view it from every angle online (similar to the street view you see on Google Maps).