Redfin Expands Brokerage to Colorado Rockies

Rhea-AI Summary

Redfin has expanded its operations into the Colorado Rockies, enabling homebuyers and sellers in counties like Summit, Eagle, and others to connect with local agents. This growth follows a strong presence in the Denver metro area, where Redfin agents have closed over $7.4 billion in transactions. The company offers unique services such as instant listing updates and a 1% listing fee for clients who buy and sell with them, significantly lower than the standard rates. Redfin's innovative approach includes full-time employed agents and enhanced marketing strategies, resulting in homes listed on their platform receiving 70% more views. Notably, Redfin has saved customers more than $1.5 billion in commissions since its inception in 2006.

Positive

• Expansion into the Colorado Rockies opens new market opportunities.
• Agents in Denver have closed over $7.4 billion in sales, showcasing strong performance.
• Offering a low 1% listing fee makes Redfin competitive in the market.
• Homes listed with Redfin receive 70% more views than comparable listings.

Negative

• None.

Consumers in Breckenridge, Vail and additional Colorado mountain towns can now work with a local Redfin agent to buy and sell homes

SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) — Redfin (www.redfin.com), the technology-powered real estate brokerage, today announced it has launched in the Colorado Rockies. Homebuyers and sellers in Summit, Eagle, Clear Creek, Gilpin, Lake and Park counties can now work with an experienced local Redfin agent.

This expansion builds upon Redfin’s robust presence in the Denver metro area, where the brokerage has provided its unique blend of personal agent service and technology since 2011. Redfin’s Denver agents have closed more than 14,400 transactions, totaling more than $7.4 billion in sales.

In addition to helping the region’s existing homebuyers and sellers move, Redfin agents can now help the increasing number of people nationwide looking for vacation or investment properties in the Colorado Rockies, including the famous Vail and Breckenridge ski resorts.

“People flock to Colorado’s resort towns every year because there’s just so much to do, from skiing in the winter to rafting and biking in the summer,” said Dallas Dyer, Redfin’s first real estate agent in the region. “If you’re anything like me, you often end vacations by scrolling home listings and envisioning what life would be like if you lived there. Redfin makes it easy to find the human on the other end of that online shopping experience. You can connect with an agent almost instantly who can help you turn that daydream into a reality.”

Dyer brings more than 18 years of real estate experience, five of which have been spent helping homebuyers and sellers in the Denver metro area. She is a Redfin Premier luxury expert and has closed nearly $30 million in real estate deals over the last year.

“Redfin has agents all over the country who truly work as a team,” Dyer continued. “No matter where you’re moving, my colleagues and I can give you a high level of service that is synchronized and seamless from your first tour to closing.”

For homebuyers, Redfin makes it easy to receive instant updates the moment a new home hits the market and book a home tour with a local Redfin agent with the click of a button.

Redfin agents provide a complete home-selling service including pricing and staging advice, free professional photography, a 3D virtual tour, digital marketing on websites and social media, and preferred placement on Redfin.com. As a result of this marketing advantage, Redfin-listed homes get 70% more views than comparable homes on the Redfin site and apps. Redfin charges a 1% listing fee when a customer sells and buys their next home with a Redfin agent, less than half the 2.5-3% listing fee that many brokerages charge. For customers who sell with Redfin without buying another home, Redfin charges a 1.5% listing fee, still significantly less.

Unlike most agents who are independent contractors, Redfin agents are full-time employees, who earn a salary, benefits and bonuses for closed sales. Because Redfin agents meet many of their customers through the site and app, they can focus more of their time serving their customers, rather than spending the majority of their time finding new ones. As a result, Redfin agents rank in the top 1% of agents nationwide in terms of the number of successful customer transactions they close each year.

To date, Redfin has saved customers more than $1.5 billion in real estate commissions. Redfin serves more than 100 markets across the U.S. and Canada.

To connect with a local Redfin agent, visit redfin.com.

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We also run the country's #1 real estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Customers who buy and sell with Redfin pay a 1% listing fee, less than half of what brokerages commonly charge. Since launching in 2006, we've saved customers more than $1.5 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 5,000 people.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.

Redfin-F

View source version on businesswire.com: https://www.businesswire.com/news/home/20230413005327/en/

Redfin Journalist Services:

Erin Osgood, 206-588-6863

press@redfin.com

Source: Redfin

FAQ

What is Redfin's recent expansion announcement (RDFN)?

Redfin has expanded its services into the Colorado Rockies, allowing local homebuyers and sellers to work with experienced agents.

How much have Redfin agents closed in the Denver area?

Redfin agents have closed over $7.4 billion in transactions in the Denver metro area.

What unique services does Redfin offer to homebuyers?

Redfin offers instant updates for new listings and a seamless connection with local agents for home tours.

What is Redfin's listing fee compared to traditional brokerages?

Redfin charges a 1% listing fee for clients who buy and sell with them, which is significantly less than the 2.5-3% fee charged by many brokerages.

How much has Redfin saved customers in commissions?

Redfin has saved customers more than $1.5 billion in real estate commissions since its launch.