Comments on: The Naked Truth is Out: Redfin is Profitable http://blog.redfin.com/blog/2009/07/the_naked_truth_is_out_redfin_is_profitable.html Redfin Corporate Blog Sun, 22 Nov 2009 20:09:04 -0800 http://wordpress.org/?v=2.8.1 hourly 1 By: Greylock Leads a $10 Million Investment in Redfin | Redfin Corporate Blog http://blog.redfin.com/blog/2009/07/the_naked_truth_is_out_redfin_is_profitable.html/comment-page-1#comment-6751 Greylock Leads a $10 Million Investment in Redfin | Redfin Corporate Blog Thu, 12 Nov 2009 18:25:08 +0000 http://blog.redfin.com/?p=1392#comment-6751 [...] is to keep performing, taking on new risks rather than just consolidating existing gains. We’ve been profitable since June, but didn’t have much money in the bank, and,as we explained this morning to John [...] [...] is to keep performing, taking on new risks rather than just consolidating existing gains. We’ve been profitable since June, but didn’t have much money in the bank, and,as we explained this morning to John [...]

]]> By: September Newsletter: Prices Up, Sales Down | Redfin Corporate Blog http://blog.redfin.com/blog/2009/07/the_naked_truth_is_out_redfin_is_profitable.html/comment-page-1#comment-6553 September Newsletter: Prices Up, Sales Down | Redfin Corporate Blog Wed, 30 Sep 2009 01:09:17 +0000 http://blog.redfin.com/?p=1392#comment-6553 [...] 10% of our overall traffic on weekends when home-buyers are out touring homes in force. Since our break-even month in June, we’ve kept the profits coming; our buyers’ agents are still the top producers in almost every [...] [...] 10% of our overall traffic on weekends when home-buyers are out touring homes in force. Since our break-even month in June, we’ve kept the profits coming; our buyers’ agents are still the top producers in almost every [...]

]]> By: Paul http://blog.redfin.com/blog/2009/07/the_naked_truth_is_out_redfin_is_profitable.html/comment-page-1#comment-6349 Paul Mon, 10 Aug 2009 01:49:49 +0000 http://blog.redfin.com/?p=1392#comment-6349 Just saw you (Glenn)talk on a couple of panels at Inman Connect, San Fran this week. Conference was weak. No matter. Anyway I wanted to say well done! On reaching profitability of course, and for showing real backbone, integrity and openness on those panels. You shared genuine, honest insight and that was a standout. You mentioned your challenges with the seasonal nature of the Real Estate business. My thought (and yes you didn't invite opinions) was that Redfin have the advantage of committed employees who can collaborate and coordinate over work, rather than jealously compete over it, which should make it possible to share workload across employees and offices. Yes I know Real Estate requires local knowledge, but not to the extent that a qualified Realtor cannot assist in different markets and understand local regulations and conditions. It takes a bit of IT infrastructure to enable the workload management and it impacts the business process of course, so not a trivial choice, but that was my thought; generate economies and competitive advantage through virtual office team(s). I think buyers and sellers could appreciate that they've got a team behind them and not just a lone agent. Just saw you (Glenn)talk on a couple of panels at Inman Connect, San Fran this week. Conference was weak. No matter.
Anyway I wanted to say well done! On reaching profitability of course, and for showing real backbone, integrity and openness on those panels. You shared genuine, honest insight and that was a standout.
You mentioned your challenges with the seasonal nature of the Real Estate business. My thought (and yes you didn’t invite opinions) was that Redfin have the advantage of committed employees who can collaborate and coordinate over work, rather than jealously compete over it, which should make it possible to share workload across employees and offices. Yes I know Real Estate requires local knowledge, but not to the extent that a qualified Realtor cannot assist in different markets and understand local regulations and conditions. It takes a bit of IT infrastructure to enable the workload management and it impacts the business process of course, so not a trivial choice, but that was my thought; generate economies and competitive advantage through virtual office team(s). I think buyers and sellers could appreciate that they’ve got a team behind them and not just a lone agent.

]]> By: Redfin’s July Newsletter… | Redfin Corporate Blog http://blog.redfin.com/blog/2009/07/the_naked_truth_is_out_redfin_is_profitable.html/comment-page-1#comment-6293 Redfin’s July Newsletter… | Redfin Corporate Blog Wed, 29 Jul 2009 04:42:19 +0000 http://blog.redfin.com/?p=1392#comment-6293 [...] Is Profitable Meanwhile, life at Redfin is very busy and just super fun too. We notched our first profit this past June, and expect to make more money all summer. When representing home-buyers, our agents are the [...] [...] Is Profitable Meanwhile, life at Redfin is very busy and just super fun too. We notched our first profit this past June, and expect to make more money all summer. When representing home-buyers, our agents are the [...]

]]> By: Redfin Profitable | http://blog.redfin.com/blog/2009/07/the_naked_truth_is_out_redfin_is_profitable.html/comment-page-1#comment-6267 Redfin Profitable | Mon, 27 Jul 2009 07:46:30 +0000 http://blog.redfin.com/?p=1392#comment-6267 [...] Congrats to all the folks at Redfin. Their model, while clearly controversial, seems to be succeeding. [...] [...] Congrats to all the folks at Redfin. Their model, while clearly controversial, seems to be succeeding. [...]

]]> By: Teens and Twitter | Redfin Corporate Blog http://blog.redfin.com/blog/2009/07/the_naked_truth_is_out_redfin_is_profitable.html/comment-page-1#comment-6264 Teens and Twitter | Redfin Corporate Blog Mon, 27 Jul 2009 06:42:42 +0000 http://blog.redfin.com/?p=1392#comment-6264 [...] thoughts. I can search for all mentions of Redfin to see how people are reacting to the news that we’re finally profitable, or I can see what people are saying about the new Harry Potter movie. But I’ve got news for you: [...] [...] thoughts. I can search for all mentions of Redfin to see how people are reacting to the news that we’re finally profitable, or I can see what people are saying about the new Harry Potter movie. But I’ve got news for you: [...]

]]> By: Glenn Kelman http://blog.redfin.com/blog/2009/07/the_naked_truth_is_out_redfin_is_profitable.html/comment-page-1#comment-6261 Glenn Kelman Mon, 27 Jul 2009 04:17:25 +0000 http://blog.redfin.com/?p=1392#comment-6261 @Steve, don't feel bad, just give us another shot when it makes sense. @Susan Brady, great to hear from you and thanks for following our progress... @Steve, don’t feel bad, just give us another shot when it makes sense.

@Susan Brady, great to hear from you and thanks for following our progress…

]]> By: Steve http://blog.redfin.com/blog/2009/07/the_naked_truth_is_out_redfin_is_profitable.html/comment-page-1#comment-6232 Steve Mon, 20 Jul 2009 14:49:00 +0000 http://blog.redfin.com/?p=1392#comment-6232 Congratulations - I'm very happy you have worked out some of the kinks. I extensively used your website to do research about a year and a half ago and tried utilizing some of your agents. Unfortunately, I was frustrated on some of the old policies you had in place. I felt like a leech using your exceptional website so extensively but giving nothing back in return - but it was a comfort level thing and unfortunately it was not there at that time. I am hoping to use Redfin the next time I sell and buy. Congratulations – I’m very happy you have worked out some of the kinks. I extensively used your website to do research about a year and a half ago and tried utilizing some of your agents. Unfortunately, I was frustrated on some of the old policies you had in place. I felt like a leech using your exceptional website so extensively but giving nothing back in return – but it was a comfort level thing and unfortunately it was not there at that time. I am hoping to use Redfin the next time I sell and buy.

]]> By: OnBlog: Weekly Roundup http://blog.redfin.com/blog/2009/07/the_naked_truth_is_out_redfin_is_profitable.html/comment-page-1#comment-6218 OnBlog: Weekly Roundup Fri, 17 Jul 2009 19:24:06 +0000 http://blog.redfin.com/?p=1392#comment-6218 [...] client Redfin turns a profit in a down market while keeping homebuyers [...] [...] client Redfin turns a profit in a down market while keeping homebuyers [...]

]]> By: Susan Brady http://blog.redfin.com/blog/2009/07/the_naked_truth_is_out_redfin_is_profitable.html/comment-page-1#comment-6199 Susan Brady Thu, 16 Jul 2009 18:11:39 +0000 http://blog.redfin.com/?p=1392#comment-6199 I've always had the faith and am so glad that it came this soon. (Although it probably doesn't seem that soon to you!) Keep up the good work! I’ve always had the faith and am so glad that it came this soon. (Although it probably doesn’t seem that soon to you!) Keep up the good work!

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