Interestingly their mortgage team is based in Dallas…
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Make sense. They might make more money selling loans than closing deals.
No other agents would recommend Redfin mortgage to their clients. So Redfin mortgage would be mostly limited to Redfin’s clients. They will make more out their existing clients. My impression is that selling mortgages is pretty low margin.
Right only Redfin agents.
I was just thinking that with more vertical integration Redfin would be able to earn more per transaction. It might help close a deal easier/faster with financing lined up by your own subsidiary.
Then again, I’m just a newbie!
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Redfin can easily sell mortgages to everyone who browses their website. Mortgage is a lot easier to sell than houses, right?
If they can get things closed quicker and painlessly it’s a win. Really curious
Hi,
I think, It is the best way to win by integrating real estate agent, title professional and lender work together.
It will be beneficial for redfin and their customers as well.
Thanks!!