Online real-estate company Redfin launched new services that provide more online and personal services for its clients.
Online real-estate company Redfin launched new services today that provide more online and personal services for its clients.
The upgrades allow users to search for bargains by filtering for short sales, distressed properties and other potential deals. Users will be able to search for properties with recent price reductions, assigned parking and waterfront views.
Redfin.com also will feature complete price histories that show listings in all their iterations, including each time they were removed from the market and re-listed.
“It’s a bunch of features aimed at reality,” said Glenn Kelman, chief executive of Seattle-based Redfin.
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As part of the upgrades for customers, the company allows buyers and sellers to work with a Redfin agent throughout the sales process, not just when making an offer or signing a deal.
The upgrades provide some long-asked-for changes for users and clients, Kelman said.
“The larger story is how we’ve matured from a little geeky company to something consumers want,” Kelman said. “Version 1 was for me and my Web friends. Version 2 is for my mom.”
The changes come at a cost: lower commission rebates.
Redfin had refunded two-thirds of its agents’ commissions to buyers and sellers — “a ridiculous deal,” Kelman said.
With the new support and service, that rebate will be reduced to half the commission, changing the average rebate from about $10,000 to about $7,500.
The company irritated traditional brokers and agents after it launched nearly three years ago by challenging the way the industry works.
Now, Kelman says, it is working to repair relationships with traditional agents and brokers and hopes today’s changes will help.
Redfin agents had shown its buyers only two homes, which irked traditional real-estate companies because it left their listing agents to pick up the slack. In the real-estate world, buyers’ agents show homes; listing agents price and market them.
“I used to love tweaking other brokers,” Kelman said. “Now we’re working to get along better.”
Cindy Zetts: 206-464-2027 or email@example.com