Recently we studied home sales data from 2010 and 2011 and found that thanks to the hard work of our amazing listing agents, Redfin listings sell faster and for more money than the competition.
That’s a great starting point, but what if we could do more? What if we could get our clients’ listings in front of more serious home buyers searching in their neighborhood and give them a better chance of selling for even more money, even faster? That’s just what we set out to do in 2012.
To start, when your Redfin-listed home is in a home buyer’s search results, we now bring it to the top of the list and highlight it in the default sort. When it matches all of the filters a buyer puts on location, beds, baths, and square footage, your home will be the first one that the buyer sees. Bringing Redfin listings to the top by default has proven to be an effective way to put your home in front of serious buyers looking for homes like yours.
We also promote our listings in a dedicated section of the page beside the map that appear when buyers are searching in the same area as your home. This puts a hero-shot photo and a compelling message about your home’s best feature right beside their search results. These messages receive a surprisingly high rate of clicks, driving even more serious, local buyers to check out your listing.
But we didn’t stop there. When you list your home with a Redfin agent, and your listing is in a neighborhood where a user has signed up for a monthly Redfin Home Report, we send your listing straight to their inbox with a featured spot in the email. We also highlight Redfin-listed homes when they match the search criteria in the daily and instant update emails that we send to serious homebuyers throughout the day.
In order to measure the effectiveness of all these improvements, we counted the number of views received by 263 Redfin listings and 4,872 comparable listings that were on the market between February and April of this year. Thanks to all of the hard work by our development team to put our clients’ listings in front of more serious buyers, homes listed with a Redfin agent received over twice as many views as the comps (103% more, to be precise).
And this is just the beginning. Our tireless team of crack engineers, product managers, marketing professionals, and agents in the field continue to try new things and experiment with ways of bringing even more serious buyers to our clients’ listings.
So should you sell your home with a Redfin agent? Only if you want to get your home in front of twice as many serious buyers, sell your home faster, and get more money, all for as little as half the cost of a traditional agent.