Redfin Continues to Take Ground, Expands Website and Real Estate Agent Service to Charlotte, Raleigh-Durham, Houston, the Bronx and Delaware

SEATTLE, Feb. 14, 2013 /PRNewswire/ -- Redfin, the technology-powered broker (www.redfin.com), today announced its expansion to Houston, Charlotte, the Raleigh-Durham area, New York City's Bronx borough and the state of Delaware, reaching nearly 10 million new people in all. With the expansion, Redfin now serves 21 major markets, increasing its audience by 10 percent, and increasing number of active listings shown on the website by 14 percent. This is Redfin's first major expansion in nearly a year, since the company launched its Philadelphia business.

"Redfin's expansion gives consumers in these areas access to national-caliber mobile and Web technology for real estate search, but powered with local data, so folks can for the first time see all the agent-listed homes for sale using state-of-the art tools," said Redfin CEO Glenn Kelman. "But more importantly, it gives people access to a real estate service model based on customer satisfaction rather than commission, so folks get an agent who's truly on their side, and the ability to save more than $10,000  in fees when buying one home and selling another."

Houston is the company's third market in Texas, after Dallas and Austin. Redfin currently serves Long Island and Westchester in New York, with the Bronx being the latest addition. North Carolina and Delaware are brand new states.

To build its local service, Redfin has hired highly-skilled real estate professionals including Charlotte-native Julie Sharpe, and Tara Waggoner in Houston, both with more than a decade of industry experience.

"For Redfin, this expansion demonstrates a fundamental broadening of our business model," Mr. Kelman continued. "A few years ago, the company's service was viable only in a handful of coastal cities with the country's highest home prices. As Redfin has developed new economies of scale, we have actually improved the quality of service while lowering costs, allowing us to bring new markets to profits quickly."

From the beginning, Redfin's mission has been to reinvent the real estate industry in the consumer's favor through technology that helps consumers and Redfin agents, paying agents to put the customer first, and offering better service for less money.

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 sales-people, earning customer-satisfaction bonuses, not commissions. Redfin's online tools feature all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. The company serves 21 U.S. markets and has closed more than $5 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider. Follow us on blog.redfin.com, on Twitter @Redfin, and Facebook.com/Redfin.

SOURCE Redfin Corporation

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