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Fast Pitch Forum (Redfin)

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Washington Technology Industry Association
Washington Technology Industry Association
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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
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  • 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
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