SC

Strategy Canon

Redfin: sourced choices

20 product and go-to-market choices, oldest first. Back to the case study

  1. 2004Product · Map search Redfin began as a website for searching homes on a map. RF2
  2. 2007Product · Tour pricing The early Washington, D.C. service charged $250 for a home tour. RF2
  3. 2008Product · Full service The company added more agent assistance after customer feedback. RF2
  4. 2008Go_To_Market · Buyer rebate change As service expanded, Redfin retained 1.5% rather than 1% of the sale price from the buyer-agent commission, reducing the rebate. RF2
  5. 2012Product · Agent capacity It hired 50 additional agents to reduce workloads and improve service. RF2
  6. 2015Go_To_Market · Market coverage Redfin had expanded to about 70 markets by 2015. RF2
  7. 2017Product · Employee agents Lead agents were employees supported by the company’s own software. RF1
  8. 2017Product · Tour scheduling Customers could schedule home tours through the app. RF1
  9. 2017Product · Three-dimensional tours Redfin offered 3D walkthroughs of listings. RF1
  10. 2017Product · Closing coordination An online deal room kept customers and agents informed about transaction tasks. RF1
  11. 2017Product · Property estimates Redfin Estimate supplied automated home-value estimates. RF1
  12. 2017Product · Related services The company offered title services and had launched Redfin Mortgage. RF1
  13. 2017Go_To_Market · Seller price Its listing fee was generally 1% to 1.5%, separate from compensation to the buyer’s agent. RF1
  14. 2017Go_To_Market · Buyer rebate The prospectus reported an average buyer refund of about $3,500. RF1
  15. 2017Go_To_Market · Search audience The website and app averaged about 20 million monthly visitors in the first quarter. RF1
  16. 2017Go_To_Market · Partner referrals A network of roughly 3,100 partner agents served customers outside its direct coverage or capacity. RF1
  17. 2017Go_To_Market · Referral revenue Partner agents paid referral fees on completed transactions. RF1
  18. 2017Go_To_Market · Agent incentives Lead-agent compensation included incentives tied to customer satisfaction. RF1
  19. 2024Go_To_Market · Commission compensation Redfin completed its nationwide transition to commission-based lead-agent pay through Redfin Next. RF3
  20. 2024Go_To_Market · Repeat business Loyalty customers accounted for 38% of fourth-quarter sales. RF3