{"id":1671,"date":"2007-07-17T23:53:33","date_gmt":"2007-07-18T06:53:33","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1671"},"modified":"2007-07-17T23:53:38","modified_gmt":"2007-07-18T06:53:38","slug":"redfin-cops-another-12-million-raising-investors-stake-in-the-discount-realtybot-to-40000-per-closed-transaction","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1671\/redfin-cops-another-12-million-raising-investors-stake-in-the-discount-realtybot-to-40000-per-closed-transaction\/","title":{"rendered":"Redfin cops another $12 million, raising investors’ stake in the discount realty.bot to $40,000 per closed transaction"},"content":{"rendered":"

The indefatigable John Cook:<\/a><\/p>\n

Redfin has raised an additional $12 million in venture funding, money that the Seattle discount real estate broker will use to enhance its Web site and expand into new markets.<\/p>\n

First up for Redfin are the Washington D.C and Baltimore areas, which are being unveiled today. Next on the agenda are Sacramento and Chicago, which the company hopes to open later this year. Redfin, which refunds two thirds of its commission to home buyers and offers a flat listing fee of $3,000 to sellers, already operates in Seattle, San Francisco, Boston, San Diego, Orange County and Los Angeles. Since its launch 17 months ago, more than 500 homes — valued at more than $350 million — have been bought and sold through Redfin.<\/p><\/blockquote>\n

To put things into perspective, Russell Shaw’s team of around ten people sold approximately 600 houses in the same span of time. With a head-count of 75 people — so far — and a capital investment of $40,000 cash-American per closed transaction, Redfin.com is somewhat less efficient.<\/p>\n

But: Pay no attention to the man behind the curtain! Redfin will be profitable any day now<\/i>. Scout’s honor!
\n<\/p>\n

Technorati Tags: disintermediation<\/a>, real estate<\/a>, real estate marketing<\/a>, Redfin.com<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The indefatigable John Cook: Redfin has raised an additional $12 million in venture funding, money that the Seattle discount real estate broker will use to enhance its Web site and expand into new markets. First up for Redfin are the Washington D.C and Baltimore areas, which are being unveiled today. Next on the agenda are […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,6,5,27,19],"tags":[],"class_list":{"0":"post-1671","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-disintermediation","7":"category-marketing","8":"category-real-estate","9":"category-redfincom","10":"category-technology","12":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1007,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1007\/glenn-kelman-on-redfincoms-move-into-southern-california-ive-never-had-to-think-so-hard-in-an-interview-in-my-life\/","url_meta":{"origin":1671,"position":0},"title":"Glenn Kelman on Redfin.com’s move into Southern California: “I’ve never had to think so hard in an interview in my life”","author":"Greg Swann","date":"February 8, 2007","format":false,"excerpt":"Here's the newspaper news, and we'll come back to it in due course: Redfin.com today opens three new offices in Southern California: Los Angeles, Orange County and San Diego. The company has expanded its web site to include listings from nine Southern California MLS systems. Here's the real news, which\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1083,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1083\/thinking-skeptically-to-rain-on-redfincoms-parade\/","url_meta":{"origin":1671,"position":1},"title":"Thinking skeptically to rain on Redfin.com’s parade . . .","author":"Greg Swann","date":"February 26, 2007","format":false,"excerpt":"I'm not a Jesuit, but I play one on BloodhoundBlog. The real truth is, I'm a roll-your-own Jesuit, more auto-didact than anything. I didn't have Brian Brady's inestimable advantage of having had the gift of reason literally pounded into me. Instead, I had to stuff it between my own ears\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2832,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2832\/redfincom-beats-the-field-again-this-time-in-both-seattle-and-san-francisco-buyers-pay-less-and-reap-commission-rebates-too\/","url_meta":{"origin":1671,"position":2},"title":"Redfin.com beats the field again, this time in both Seattle and San Francisco: Buyers pay less and reap commission rebates, too","author":"Greg Swann","date":"March 25, 2008","format":false,"excerpt":"Redfin.com has news this midnight, but it's the sort of thing I would normally ignore: It's basically the kind of rah-rah-for-us stuff I leave for the vendor cheerleaders and the mainstream media. But: I gave Redfin a lot of grief last year when they made a similar announcement, so today\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1443,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1443\/defending-redfin-sweet-digs-buried-by-inane-mls-rules\/","url_meta":{"origin":1671,"position":3},"title":"Defending Redfin: Sweet Digs weblog buried by inane MLS rules","author":"Greg Swann","date":"May 17, 2007","format":false,"excerpt":"I don't like Redfin.com. Its \"business\" model consists of quietly diverting its agency responsibilities to listing agents while loudly rebating its largely unearned commissions to buyers. My experience of the president of the company, Glenn Kelman, is that he is an oily liar who will say anything to draw the\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2549,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2549\/want-to-learn-how-to-sniff-out-bias-in-the-mainstream-media-follow-your-nose-all-the-way-to-yosemite\/","url_meta":{"origin":1671,"position":4},"title":"Want to learn how to sniff out bias in the mainstream media? Follow your nose — all the way to Yosemite","author":"Greg Swann","date":"January 29, 2008","format":false,"excerpt":"John Cook fingered this mash note to Redfin.com in Forbes Magazine. More of the same four-legs-good, two-legs-bad crap we expect from the mainstream media, but it's short enough that the bias is almost too obvious. Consider the attributions for quotes:\"says Kelman, 37\" \"Kelman says.\" \"one Redfin representative wrote recently\" \"read\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1779,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1779\/they-are-conniving-and-con-artists-redfin-launches-southern-california-sweet-digs\/","url_meta":{"origin":1671,"position":5},"title":"“They are conniving and con artists” – Redfin launches Southern California Sweet Digs","author":"Kris Berg","date":"August 9, 2007","format":false,"excerpt":"And for the record, Redfin, the title was a quote taken from one of your Southern California Forum posters, and it was directed at me, or rather my ilk. I started writing this with every intention of giving you the publicity you asked for, the \"don't promote yourself, let others\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1671"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1671\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}