Redfin Launches Its Technology-Powered Real Estate Brokerage in Minneapolis and St. Paul

People Can Now See All Homes for Sale in Minnesota and Work with Redfin Agents in the Twin Cities Who Are Paid Based on Client Satisfaction

Business Wire

SEATTLE--(BUSINESS WIRE)--

Redfin (www.redfin.com), the technology-powered real estate brokerage, today announced its debut in Minneapolis and St. Paul, bringing its one-of-a-kind combination of technology and customer service to the Twin Cities metro area. With the addition of Minneapolis-St. Paul, Redfin real estate agents now serve 23 major metropolitan markets across the United States.

“We’re excited to launch in the Twin Cities and be ready to help Minnesotans experience the modern way to buy or sell a home,” said Scott Nagel, Redfin's president of real estate operations. “Our Redfin agents are ready to provide superior customer service, local market expertise, real estate insights, mobile apps and tools that we believe are unlike any other service in the area.”

People can now search for all homes for sale statewide in Minnesota on Redfin.com. Redfin agents can now help people buy and sell homes in parts of Hennepin, Ramsey, Anoka, Washington, Dakota, Scott, Carver and Wright counties in the Twin Cities metro area. For parts of these counties that Redfin doesn’t service directly, customers can work with Redfin's partner agents. Redfin plans to expand its direct service to include the 13-county metro area as its business grows.

With more than 20 years of real estate experience in the Minneapolis-St. Paul area, as well as time spent as a real estate continuing education instructor, Chris Prescott joins Redfin as the Minnesota market manager. Prescott spent 13 years in residential sales and leasing and has experience in commercial leasing and property management. Most recently, he was a partner in a local company that created marketing and social media programs for more than 200 local and national real estate agents.

“When I heard that Redfin was coming to Minnesota, I knew that I had to be part of their mission to change real estate here in the Twin Cities,” Prescott said. “After being in the business for 20-plus years, I am very excited about the opportunity to change the way real estate is done and make it better for buyers, sellers and agents.”

The Redfin model is different from that of other brokerages because it uniquely aligns agent and customer interests. Unlike traditional real estate agents, Redfin agents are paid a salary and benefits, with customer satisfaction ratings not transactions determining each agent’s bonuses. All reviews for all Redfin agents are published online.

Redfin also works to put money back into the pockets of both our buying and selling customers. Redfin refunds homebuyers a portion of the buyer's agent commission. To date, Redfin has saved its customers more than $175 million in real estate fees. For a $500,000 home, a Redfin homebuyer in the Twin Cities would save more than $4,000. For listing clients, Redfin agents charge 1.5 percent rather than the typical 3.3 percent of a traditional agent, while providing the full listing service, from pricing and staging advice and professional photography through the negotiation and closing processes. For someone selling a $500,000 home, that would be a savings of $9,000.

With Redfin's arrival, people in the Twin Cities can now use one-of-a-kind Redfin data and tools previously unavailable to consumers in the Minneapolis-St. Paul area, including:

  • Home Value Tool: Enables customers to estimate the value of their home based on up-to-date home sale prices, details and photos used by real estate agents.
  • Offer Insights: Publishes real-time statistics and notes from Redfin agents about their home offers to help homebuyers understand what it takes to win a bidding war in a given neighborhood.
  • Tour Insights: Comments left by Redfin agents about homes they have seen in person.
  • Deal Room: Helps agents and their clients coordinate and track the tasks that need to be completed to successfully close the home purchase transaction.
  • Listing Dashboard: Allows home sellers to track online and in-person traffic to their listing compared with that of nearby comparable homes for sale.

Redfin will offer the following online and mobile tools to help Redfin users quickly access the most accurate and up-to-date information about homes for sale in the Twin Cities:

  • Instant Updates: Smartphone or email notifications when new homes are listed or when the status or price of a 'favorited' home changes.
  • Search by School: Shows all homes for sale within the boundaries of a particular school with one easy search. This feature is coming soon.
  • Mobile Home Tour Scheduling: Request an in-person home tour with a Redfin agent using Redfin's iPhone or iPad app.

To learn more about working at Redfin and to apply for open positions in the Twin Cities area, visit redfin.com/jobs.

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About Redfin

Redfin (www.redfin.com) is a technology-powered real estate broker that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not salespeople, earning customer-satisfaction bonuses, not commissions. Redfin.com features all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. Redfin also offers online tools that make the entire process of buying or selling a home easier and more fun. The company serves 23 U.S. markets and has closed more than $13 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider.

Contact:
Redfin
Katy Klein
206-588-6863
press@redfin.com


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