Redfin

Redfin is an online real estate company that provides real estate search and brokerage services. Redfin uses an interesting combination of online real estate search and access to live agents. They employ their agents so they can better control customer satisfaction; traditional brokerage firms license their name to independent agents. Redfin claims to save homebuyers on average $7,500 by reimbursing roughly 1/2 of the buy-side real estate fee directly on closing. Redfin also pays bonuses to agents when they receive high customer satisfaction.

Redfins main competitors include real estate search services like Trulia, Zillow and Realtor.com. None of their competitors combine online real estate search and brokerage services.

On their site, Redfin combines MLS listing information with historical data into a single map. You can search for homes by neighborhood, city or MLS number, or you can refine results using detailed parameters like price and number of beds or baths. As of July 2007, users can look for homes in Chicago, Washington, D.C. area, including Central Maryland and Northern Virginia, Greater Boston, the San Francisco Bay Area, Greater Seattle and Southern California, including Los Angeles, Orange County, the Inland Empire and San Diego.

The company was founded by David Eraker and is based out of Seattle; there is also a San Francisco engineering office, and local agents in each of the markets Redfin serves.