April 25, 2010

Redfin… an e-trade for real-estate, without the huge commission fee!

they refund half the fee! 

Sellers… they refund half the fee!

The company cuts real estate fees dramatically, by about half, for both buyers and sellers.

CEO Glenn Kelman announces in the video below that Redfin is now on a $30 million revenue run rate, up from $15 million last summer (and at that point they were profitable.)

Kelman called real estate “by far the most screwed up industry in America” on 60 Minutes a couple of years ago, But Kelman has cooled somewhat since then, and some of the death threats and hostility by realtors has now calmed down, he says.

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