Redfin Opens in Philadelphia

Monday, March 12, 2012

PHILADELPHIA, Mar 8, 2012 (GlobeNewswire via COMTEX) -- Redfin, the technology-powered brokerage, announced today its expansion to the Philadelphia area, bringing to Pennsylvania the company's one-of-a-kind combination of consumer advocacy and technology. With the launch of Redfin's nineteenth market, the number of listings on its website grows by 8.5%.

"Redfin needs Philly, and Philly needs Redfin," said Redfin CEO Glenn Kelman. "No other broker gives Philadelphians so much information about the homes for sale, and the agents selling them. And we believe that Philadelphia needs a progressive alternative to the traditional real estate model, with a company built from the ground up to use technology to give customers more information, more value and an agent who is always on their side."

Through its award-winning website and top-rated real estate mobile applications, Redfin becomes the only brokerage in Philadelphia to provide consumers access to the complete pricing histories of listings and sold homes and agents' comments about homes they have toured.

Redfin agents are paid salaries, and bonuses based on customer satisfaction, so their primary focus is the customer, not a commission. To help consumers choose an agent, Redfin surveys every customer and posts every review on its website, with a map of the agent's completed and failed transactions, and extensive performance statistics.

Because customers use Redfin's online tools to begin their search, choose an agent and schedule home tours, Redfin agents spend all their time serving customers not searching for customers, and Redfin can offer better service at a better value: buyers save an average of $4,000 in closing costs, and sellers an average of $7,500 in commissions.

Starting today, customers can work directly with Redfin agents in the Chestnut Hill, Mount Airy and Manayunk neighborhoods of Philadelphia, as well as the Main Line townships, the northern suburbs in Bucks and Montgomery Counties, and Chester and Delaware counties to the West. For service in Center City and the rest of Philadelphia, customers can work with Redfin's partner agents. Redfin plans to expand its direct service into Center City and Philadelphia's New Jersey suburbs as its business continues to grow.

"Redfin embodies the same values I have honored and upheld throughout my 18-year real estate career, and I am thrilled to be hanging the Redfin sign in Philly today," said Linda Wolbers, the new head of Redfin's operations in Philadelphia. "Redfin's website provides a much-needed resource for Philadelphia consumers to access more complete and up-to-date real estate information than has ever been available to them before. With Redfin's arrival, Philadelphia consumers will be able to make more informed decisions about their real estate needs."

Redfin will hold its first-ever community launch party in Philadelphia on March 28th, 2012. Redfin invites local customers and members of the real estate community to learn about Redfin and join in celebrating this milestone.

About Redfin

Redfin ( ) is the real estate industry's first online brokerage, combining a customer-focused team of real estate agents with online tools for making the process of buying or selling a home easy. Redfin's agents handle every facet of a transaction, including tours, pricing analyses, negotiations, inspections and closings. Redfin is the only major search site to feature listings direct from broker databases as well as for-sale-by-owner and foreclosure properties from across the Internet. The company pays its agents customer-satisfaction bonuses, not commissions, and surveys every client, publishing each survey alongside the agent's complete deal history. Redfin's service is available in the metropolitan areas of Atlanta, Austin,Baltimore, Boston, Chicago, Dallas, Denver, Las Vegas, Philadelphia, Phoenix, Portland, OR, Seattle, Washington DC, New York's Long Island and Westchester County as well as most of California, including the San Francisco Bay Area, Sacramento, Los Angeles, Orange County, and San Diego. To keep track of our daring exploits, subscribe to or our Twitter feed @Redfin.

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SOURCE: Redfin