Thursday, November 6, 2008

Redfin Reduces Rebates, But Gets More Personal

Seattle-based online real estate broker Redfin announced today that it is reducing its commission refunds, to 50% from 66%, as it raises prices. However, Redfin also said it would stop charging for home tours, making them free, in an attempt to hit the mass market. Redfin previously charged $250 per tour of a house. The real estate site also said it would allow its users a choice of an agent, and support from that same agent along the process, as it looks to add a more personal touch to the service.