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Redfin: Changing the Game
The Redfin Story
• First we built the best search site
  • 15% more listings, directly from brokers
  • 4x the listing data that brokers share
  • 0 ads, registration requirements
• We hired the best agents & paid ‘em to do the right thing
  • Top 3 buy-side agents in King County
  • Customer-satisfaction bonuses, not commissions
  • Public reviews: every client surveyed, deal or no deal
• Then we got the best results
  • Better price:     $4,000
  • Lower fees:       $7,500
Weeks Agent Spends With Client




         Commissions paid by consumers more than doubled from 1995 - 2005
Source: California Association of Realtors, "2005 Internet Versus Traditional Buyer Study
Home-Buyer Client Satisfaction




Source: National Association of Realtors, 2004; Redfin 2009 Customer Satisfaction Surveys
Unique Visitors: +287%




Visits                       Visitors
Revenue: +40% Year over Year
Partner Program: Exceeding Plan




Week Since
 Launch
Our Future
• Domestic reach: 20%  50%
• Increasing market-share: 5% in key markets
• Scalable marketplaces
 • Traffic: acquisition
 • Commerce tools: efficiency
 • Review system: accountability

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Fast Pitch Forum (Redfin)

  • 2. The Redfin Story • First we built the best search site • 15% more listings, directly from brokers • 4x the listing data that brokers share • 0 ads, registration requirements • We hired the best agents & paid ‘em to do the right thing • Top 3 buy-side agents in King County • Customer-satisfaction bonuses, not commissions • Public reviews: every client surveyed, deal or no deal • Then we got the best results • Better price: $4,000 • Lower fees: $7,500
  • 3.
  • 4.
  • 5. Weeks Agent Spends With Client Commissions paid by consumers more than doubled from 1995 - 2005 Source: California Association of Realtors, "2005 Internet Versus Traditional Buyer Study
  • 6. Home-Buyer Client Satisfaction Source: National Association of Realtors, 2004; Redfin 2009 Customer Satisfaction Surveys
  • 8. Revenue: +40% Year over Year
  • 9. Partner Program: Exceeding Plan Week Since Launch
  • 10. Our Future • Domestic reach: 20%  50% • Increasing market-share: 5% in key markets • Scalable marketplaces • Traffic: acquisition • Commerce tools: efficiency • Review system: accountability