Redfin Adds Price Alerts For Home Shoppers

Real Estate start up Redfin just made home shopping a little easier. They’ve added new price alert email notifications via their “Instant updates”. Now instead of waiting for a weekly or daily email, users are notified within 15-30 minutes of any price change to the properties that they are interested in.

Redfin CEO Glenn Kelman, told that in this day in age in real estate timing is everything. He pointed out that 17 percent of listings that debuted on Redfin and then sold, were under contract within three days or less.

“In a world where a Las Vegas chef can now buy a fish caught in the Adriatic before the fisherman has even returned to the harbor, it’s crazy to think that real estate for the most part has run on 1950s-newspaper-time, with one email update in the morning. Instant Updates changes the whole speed of the game.” Kelman told

More after the break

Unlike some other real estate apps and sites Redfin is a licensed real estate brokerage which gives them access to entire databases of listings earlier than others saying:

While other websites get partial or indirect access to some MLSs, only companies with real estate agents get full, immediate access to all the broker-listed homes for sale.

Redfin also recently launched their “Home Price Tool” which puts the power of accurate home pricing into consumers hands. The tool allows the user to choose from and edit the value of homes to make up a comparable market analysis (CMA) a tool only real estate agents used to have in the past.

“Estimating a home price is more art than science. When the home owner and her real estate agent both have access to the same information, it becomes a productive conversation and it paints a much more accurate picture of the home’s value,” said Jim Lamb, lead product manager for Redfin. “The Home Price Tool is a kind of freedom for home owners. They no longer have to accept what their agent or some website’s mystery formula tells them their home should be worth.”

If you’re buying or selling a home visit here.

source: redfin, geekswire


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