Redfin Corporation operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sale of their home.
The company also provides title and settlement services, and originate, service, and sell mortgages. In addition, the company uses digital platforms to connect consumers with rental properties. The company has operations located in multiple states across the United States and certain provinces in Canada.
The company helps people...
Redfin Corporation operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sale of their home.
The company also provides title and settlement services, and originate, service, and sell mortgages. In addition, the company uses digital platforms to connect consumers with rental properties. The company has operations located in multiple states across the United States and certain provinces in Canada.
The company helps people buy and sell homes. Representing customers in approximately 100 markets in the United States and Canada, the company is a residential real estate brokerage. The company pairs its own agents with the company’s own technology to create a service that is faster, better, and costs less. The company meet customers through its listings-search website and mobile application.
The company uses the same combination of technology and local service to originate, service, and subsequently sell mortgage loans and offer title and settlement services. The company also offers digital platforms to connect consumers with available apartments and houses for rent and for other advertising.
Representing Customers
The company’s brokerage efficiency results in savings that the company shares with its customers. The company charges most home sellers a commission of 1% to 1.5%, compared to a more common 2.5% listing fee typically charged by traditional brokerages.
The company helped customers buy or sell more than 621,000 homes through 2024; and drew more than 48 million monthly average visitors to the company’s website and mobile application in 2024.
The company has developed partnerships with over 5,148 agents at other brokerages. Once the company refers a customer to a partner agent, that agent, not the company, represents the customer from the initial meeting through closing, at which point the agent pays the company a portion of her commission as a referral fee.
Complete Customer Solution
The company’s intention is to combine brokerage, rentals, mortgage, and title services into one solution, sharing information, coordinating deadlines, and streamlining processes so that a consumer's move is easier and often less costly. As the company integrates these services more closely over time, the company can help consumers move much more efficiently than a combination of stand-alone companies ever could.
Bay Equity underwrites mortgage loans and, after originating each loan, Bay Equity sells most of the loans to third-party mortgage investors, retains a small amount of mortgage servicing rights, and services a small portfolio of loans. Bay Equity is licensed in 48 states and the District of Columbia. These markets accounted for more than 98% of the company’s brokerage's buy-side transactions in 2024.
Title Forward offers title and settlement services. Title Forward has officially launched in 12 states and the District of Columbia. These markets accounted for 67% of the company’s brokerage's transactions in 2024.
Rent. offers an end-to-end digital marketing platform that connects consumers with available apartments and houses for rent across all 50 states and the District of Columbia.
RedfinNow bought homes directly from homeowners and resold them to homebuyers. In November 2022, the company decided to wind-down RedfinNow, and the company completed the liquidation of the company’s RedfinNow inventory in the second quarter of 2023.
In February 2025, the company announced a partnership with Zillow, Inc. (‘Zillow’) to increase the scope and quality of the company’s listings and to monetize the company’s websites through selling leads to Zillow rather than through subscriptions directly to property managers.
Seasonality
The company’s revenue and cost of revenue have typically followed the seasonal pattern of the residential real estate industry. As such, revenue and cost of revenue increase sequentially from the first quarter (year ended December 2024) to the second and third quarters. Fourth quarter revenue typically declines sequentially from the third quarter.
History
The company was incorporated in Washington in 2002. It was formerly known as Appliance Computing Inc. and changed its name to Redfin Corporation in 2006.