Redfin is a publicly traded real estate technology and brokerage company that integrates online property search tools as well as salaried, in-house agents. The company is based in Seattle, Washington, and was founded in 2004. It trades on the NASDAQ under the ticker RDFN and operates in key markets of the U.S. housing market.
The Redfin platform brings together MLS data and available records to offer searchable listings of homes on sale, pending, and those recently sold. Detailed information, such as price history, similar sales, neighborhood trends, and school information, is provided to the users. Another service offered by the company is an automated home value estimate that helps buyers and sellers estimate prices in real time.
Unlike old-fashioned brokerages, where agents were paid on a commission-only basis, Redfin’s agents work on a salary and receive customer satisfaction bonuses. This structure enables the company to charge listing fees that are usually lower than the traditional 2.5-3 side model of most of these markets. Agents are there to help with tours, negotiations, offer submissions, inspections, and closing coordination.
Other adjacent services provided by Redfin include Redfin Mortgage, title and settlement services, and Redfin. Now, its direct home-buying program is limited to markets. The sources of revenue include commission-based brokerage (commissioned on sales), service charges, mortgage origination, and property resale.
By combining technology with full-service brokerage services, Redfin can offer itself as an affordable alternative in residential real estate. Its model integrates the transparency of data, digital tools, and agent services into a single transaction ecosystem.
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