I just got home from san diego and I saw a bunch of redfin commercials on tv. It seems like a good idea for them to advertise. Has anyone seen them here?
I haven’t seen a commercial or ad for them in Seattle.
More than TV ads they need to send out fliers. That’s how agents get business.
Ok, since I use it I guess I gotta root for it…
Is redfin headquartered in the Bay Area?
No, it is a Seattle company. But there is a development office in SF.
Oh no… I was suspecting this
How is redfin real estate tech? Every real estate company has a website and app these days. Everyone is connected to the MLS data. Their UI is a little better, but that doesn’t make them a tech company.
You’re right. I don’t understand how they make money either. But nevertheless, I’m rooting for them because like you said their UI is better and easier to use so I hope they won’t go away.
Their revenue is from RE transactions which is the same as any other RE firm. Unless they start licensing/selling their data or making most of their money off ads, then they aren’t a tech company.
I think Redfin and let’s be honest other companies like even our fav Amazon market themselves as “tech” companies (not in the traditional sense of making tech products or tech app/software) simply because of their use of perhaps data analytics, the internet and having a website portal, etc. Yes, it is a stretch but it is what it is…
I don’t get how they are 10th in transactions and 5th in dollars. Even in Seattle, they have a tiny percent of the market. Is that because most brokerages are franchises, so they don’t publish company-wide numbers?
Will we see again, the same buyer’s remorse like when Facebook IPO came to be valued below $19 and many posters on the other forum said that FB wouldn’t make it.
Got a small number between early & mid 20s. Now wish had bought a day earlier!!!
Anyways I hope the ride continues!
Crashing down now. -12% so far…
Down another 5% Friday. Now at $25.84.
@Roy321 Adding here?