Condo Blog - A Non-Corporate Blog From CondoDomain HQ

We all remember this famous scene from Good Will Hunting staring Ben Affleck and Matt Damon…right? Well with the Redfin model, and their agents on salary and NOT commission, possibly a job interview could go like this?

Just kidding…we love the guys at Redfin. Here is their real biz model below:

Redfin’s service is half electronic, half personal. Redfin’s technology combines listings with objective data, including maps, property outlines, third-party appraisals and tax records. We are a new business, so there is still plenty more data we want to add to real estate search. Our business model focuses our personnel on customer service. We employ agents directly, and we compensate agents based on customer satisfaction. We believe this approach is not only more efficient, but leads to better service.

Our core value is consumer-driven innovation. We were the first to launch a map-driven search application in 2004, and the first to offer an online home-buying service in 2006. In our opening year of buying and selling homes, we refunded over $3 million in commissions and completed over $100 million in transactions. According to MLS records, we were also able to negotiate a lower price for our customers than other brokerages could. We offer a 100% satisfaction guarantee.