And what has the online real estate brokerage done in that time frame? Well, for one, the company announced today that it has saved customers more than $100 million in real estate fees since it was founded (and topped $8 billion in home sales). Interestingly, more than $25 million of the real estate savings has come this year.
The company also is growing at its Seattle headquarters — noting in today’s press release that it is prepping to double its office space. Redfin now boasts more than 500 agents in 19 markets.
“Through the worst real estate crisis in U.S. history, Redfin has grown faster than any other major brokerage by sticking to a simple formula: deliver better value to consumers, use technology to make the process easy and open at every step, and make sure their agent is always on your side,” said CEO Glenn Kelman in a statement. “We have prospered by being the best, not the least expensive. And the scale we have achieved isn’t simply a reflection of our success; it’s instrumental to our success.”
Redfin hasn’t been in the limelight as much as its publicly-traded compatriots — Trulia and Zillow. (The two of which happen to be locked in litigation).
Redfin has yet to make the IPO plunge, though it remains heavily funded. Last year, it raised $14 million from Madrona Venture Group, Vulcan Capital, Draper Fisher Jurvetson and Greylock Partners, bringing total funding in the company to $46 million.
UPDATE: Redfin said that it has brought on 400 new-hires this year, including engineers and agents. The company plans to have three floors at its headquarters at 2025 1st Avenue, doubling the size of the footprint to 30,000 square feet. By mid next year, it plans to be in 40,000 square feet of space in Seattle.