Redfin Corporation (NASDAQ: RDFN)
Real Estate Services · Seattle, WA, United States · Founded 2004
- Market capitalization: $1.0 billion
- Annual revenue: $1.04 billion
- Net income: $-0.16 billion
- Employees: 4,500
- Sector: Real Estate
- Headquarters: Seattle, United States
- Founded: 2004
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Redfin is a technology-powered real estate brokerage that charges lower commissions than traditional agents. They employ their own agents (rather than independent contractors) and combine tech tools with human service. The company has been struggling with the housing market downturn and profitability challenges.
Commission revenue from home sales at discounted rates (typically 1-1.5% listing fee vs. the traditional 2.5-3%). They also earn from mortgage origination through Redfin Mortgage and title services. The lower commission model requires high volume to work.
Founded in 2004 in Seattle, Redfin went public in 2017. They acquired RentPath in 2021 to expand into rentals. The 2022-2023 housing slowdown hit them hard, forcing layoffs and cost cuts. The NAR commission settlement in 2024 could reshape the entire industry in their favor.
| Market Capitalization | $1.0B |
| Annual Revenue | $1.04B |
| Net Income | $-0.16B |
| Profit Margin | -15% |
| Revenue per Employee | $231111K |
| Stock Exchange | NASDAQ |
| Ticker Symbol | RDFN |
Financial data is approximate and based on most recent annual filings.
Redfin's agents are salaried employees with benefits — a rarity in real estate. The company publishes one of the most widely cited housing market data reports, often ahead of official government statistics.
Redfin's model should win in a world of lower commissions, but they need to survive long enough to get there. The NAR settlement could be their moment.
What is Redfin Corporation's revenue?
Redfin Corporation generates approximately $1.04 billion in annual revenue.
How many employees does Redfin Corporation have?
Redfin Corporation employs approximately 4,500 people worldwide.
What is Redfin Corporation's market cap?
Redfin Corporation (RDFN) has a market capitalization of approximately $1.0 billion on the NASDAQ.
When was Redfin Corporation founded?
Redfin Corporation was founded in 2004 and is headquartered in Seattle, WA, United States.
Who is the CEO of Redfin Corporation?
Glenn Kelman is the current CEO of Redfin Corporation.
What is Redfin Corporation's website?
Redfin Corporation's official website is redfin.com.
| CEO | Glenn Kelman |
| Sector | Real Estate |
| Industry | Real Estate Services |
| Founded | 2004 |
| HQ | Seattle, WA |
| Country | United States |
| Website | redfin.com |
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