New Redfin Features Keep it Ahead of the Pack
Say what you like about their business model, Redfin’s real estate search tools are world class and only keep getting better.It’s why it was the only national real estate broker (I defined “national” as anyone having operations that spanned both coasts) to make my list of 10 Kick Ass Real Estate Search Sites.They’ve just released another update to their site. Inman News gives us the details on their new Listing Metrics tools for sellers. More too from Redfin press release:
The Listing Metrics dashboard, currently available only to Redfin listing customers, graphs how key marketing and pricing trends change day to day and week to week:
- Online traffic to the listing on Redfin.com as compared to the neighborhood average, so Redfin customers can determine if their listing is competing for online buyers’ attention;
- Sources of online traffic to the listing on Redfin.com, so Redfin sellers can evaluate the effectiveness of promoting their listing on other sites;
- The number of competing broker-listed properties in the neighborhood, so Redfin customers can evaluate supply and demand to determine if pricing conditions are changing; and
- The average days on market for broker-listed properties in the neighborhood, so Redfin customers can determine if their property is taking too long to sell.
Matt Goyer, Redfin developer gives us some the low down of even more features contained in this release.What I’m really excited about is Redfin is finallly using RSS to subscribe to results from a particular release. As Matt admits to, others have been doing this for a while (ZipRealty, Trulia, Estately) but Redfin’s feeds “displays a lot more information in the feed.” He goes on to detail a way to output those feeds to your blog.It’s just too bad Redfin can’t step into Oregon - our ridiculous antirebate laws prevent that. Till then I guess, I’ll be sticking with Roost for my searches.I heard many people continue to question whether Redfin’s model is viable through a downturn in the market - and while I’m not privvy to Glenn Kelman’s exit strategy, one thing’s for sure. They’ve built themselves a very valuable asset that may one day make a very attractive acquisition.
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2 Comment(s)
2 Trackback(s)
- From FBS Blog » Blog Archive » Making Markets | Mar 4, 2008
- From The Little Website That Could | Redfin Corporate Blog | Mar 4, 2008
Joshua Ferris | Mar 4, 2008 | Reply
Redfin continues to impress (and make the nationals look bad!) with their website and new features. The lack of profitability makes me wonder if they will ever work as a standalone company but a great acquisition is nearly a sure bet. I have a feeling Realogy might be adding another one. Hopefully if they do acquire Redfin they won’t throw them into one of their oh so not brilliant ad campaigns they’ve been famous for. First trying to bring sexy back with the golden blazer and now two inanimate, yet very social paintings.
Redfin’s services are a wonderful concept and I think they are starting to be more worth full service commission than some of the bigger national brokers I’ve seen. If they tiered their service offerings to include a full service team they might very well be on their way to becoming one of the giants.
The one “Y” factor that hasn’t been counted on yet is the influx of Generation Y people into real estate. With all of their technological know how and comfort with the internet I don’t know that even Redfin will be safe from antiquity.
Andrew | Mar 5, 2008 | Reply
Redfin on the right track, but the market is still wide-open for further innovation in providing clients with real estate information. The new features on Redfin are great for sellers, and I am sure Redfin is working on additional features to add value to buyers e.g. analytics