Redfin is an internet-enabled real estate company

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Redfin is an internet-enabled real estate company that has pioneered a more convenient and efficient way to buy and sell real estate by using software programs and machine learning to provide timely and relevant real estate information, to automate many home-buying tasks, and to help buyers find the right homes for them. By connecting buyers and sellers, Redfin facilitates home sales and takes a commission (and sometimes flat fees) as compensation for its service. The company also employs a large team of real estate agents on an annual salary (with benefits), in contrast with the traditional real estate business where agents typically work as contractors affiliated with a real estate agency. In recent years, Redfin has also begun to offer mortgages to buyers, data analysis for real estate agents, and an "iBuy" (instant buyer) service called RedfinNow where they buy homes immediately from sellers and then sell the houses themselves to interested buyers (also called home "flipping").

Reference no: EM133532230

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