Redfin Launches Career Accelerator Program to Bring New, Diverse Talent into the Real Estate Industry

Rhea-AI Summary

Redfin has announced the launch of a career accelerator program in Seattle and Washington, D.C. to recruit and train 50 new real estate agents. This initiative targets individuals from diverse backgrounds, easing their transition into the real estate sector by providing a salary, benefits, and a $1,500 signing bonus. Participants will receive comprehensive training and support, aiming to eliminate common financial barriers faced by new agents. Applications are open until August, with training commencing in November.

Positive

• Launch of a career accelerator program to recruit 50 new agents.
• Program provides comprehensive training and onboarding support.
• Participants receive a salary, benefits, and a $1,500 signing bonus, reducing financial barriers.

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• None.

SEATTLE, July 8, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — Redfin (www.redfin.com), the technology-powered real estate brokerage, today announced it has launched a career accelerator program to hire and train 50 new real estate agents in the Seattle and Washington, D.C. metro areas. This program is designed for people from outside the real estate industry to successfully transition into a full-time, real estate career.

Unlike most agents who work as independent contractors, earning commissions from home sales, Redfin agents are employees who earn a base salary and bonuses for every transaction. Redfin also provides comprehensive benefits, including health insurance and paid leave. In 2020, Redfin agents earned a median income of $112,200. That is more than double the median gross income of $43,330 earned by a typical Realtor in 2020, according to research from the National Association of Realtors (NAR). Redfin agents earn an average of $63,000 in their first year at the company. Realtors with two years of experience or less earned a median gross income of just $8,500 in 2020, according to NAR. 

"Typically, you need to spend money to make money in real estate and new agents often rack up debt on dues, fees, marketing and technology costs before they sell a house or earn a penny. The career accelerator program gives new agents everything they need to thrive in their first year: a salary and benefits, training, team support, introductions to customers, and a $1,500 signing bonus to make the transition easier," said Kathryn Rion, senior director of real estate operations.

"Many people who want to pursue a real estate career are dissuaded by the start-up costs, financial insecurity, lack of benefits, and sink or swim mentality that is common in the industry," Rion continued. "By providing on-the-job training and eliminating hurdles and expenses for new agents, we hope to encourage people from diverse backgrounds to join us in our mission to redefine real estate in the consumer's favor. You shouldn't have to dig into savings or go into debt or forgo health care just to get started in real estate."

Participants in the career accelerator program will receive comprehensive training and individual coaching to learn everything required to become a successful agent, including customer service, real estate contracts, negotiation and transaction management. Each agent-in-training will be supported by a team and local manager focused on their career success. An experienced local trainer will coach new agents through their first three transactions. Like all Redfin agents, agents-in-training will have access to Redfin's leading technology platform and will have the opportunity to meet serious customers through Redfin's site so they can start growing their business right away.

The program is accepting applications through August. Once accepted, participants will have until the end of October to complete their licensing coursework and pass the licensing exam. Once licensed, participants will start in November as full-time real estate agents with Redfin and receive a $1,500 signing bonus to cover the start-up costs and ease the transition. Because agents-in-training will start at the same time, they'll have the added benefit of learning together in a collaborative program.

The career accelerator program is an addition to Redfin's ongoing agent recruitment and training efforts. The company is growing rapidly and hiring hundreds of agents across the country this year. Redfin offers a variety of real estate agent and support roles to fit candidates' career goals, skill sets and experience levels.

"To keep up with our rapid growth, we need to develop talent from other industries as well as recent graduates," said Rion. "Folks with experience in retail, hospitality, sales, the military, and other industries bring transferable skills and valuable new perspectives to our business. We're excited to soon welcome our first cohort of agents-in-training in Seattle and Washington, D.C. and to get them started in a fulfilling career where they can make a meaningful impact on people's lives."

Visit https://www.redfin.com/careers/real-estate to learn more about real estate opportunities at Redfin. Candidates can apply for the career accelerator program here:

• Washington, D.C.
• Maryland
• Virginia
• Seattle

About Redfin
Redfin (www.redfin.com) is a technology-powered real estate broker, instant home-buyer (iBuyer), lender, title insurer, and renovations company. We sell homes for more money and charge half the fee. 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 take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 95 markets across the U.S. and Canada and employ over 4,100 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.

 

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SOURCE Redfin

FAQ

What is the purpose of Redfin's career accelerator program?

The program aims to recruit and train 50 new real estate agents from diverse backgrounds in Seattle and Washington, D.C.

How much do agents earn in Redfin's career accelerator program?

Participants receive a base salary, benefits, and a $1,500 signing bonus, with a median income of $112,200 for Redfin agents.

When is the application deadline for Redfin's career accelerator program?

Applications for the program are open until August.

When does training begin for the new agents in Redfin's program?

Training for accepted participants will start in November after completing licensing coursework.

What support do new agents receive in Redfin's program?

Agents receive comprehensive training, individual coaching, and are supported by a local team and manager.