Tech-centered real estate brokerage Redfin continues to see its value rise with the latest quarterly financial results revealing a 35% rise in revenue to $109.5 million
Tech-centered real estate brokerage Redfin continues to see its value rise with the latest quarterly financial results revealing a 35% rise in revenue to $109.5 million.
The Seattle-based firm’s net income for the third quarter of 2017 rose from $5.7 million in the third quarter of 2016 to $10.6 million in the same period of this year.
"Redfin's brokerage market-share gains accelerated again in the third quarter, with strong traffic growth and steadily increasing sales in all of our new businesses," said Redfin CEO Glenn Kelman. "We also invested in making our service better and more efficient over the coming years while delivering better- than-expected earnings in the quarter, pairing long-term thinking with financial discipline."
The figures also show that the firm’s experimental service Redfin Now where it buys homes directly from sellers and sells them to buyers made $3.4 million.
Year-over-year traffic to Redfin’s website and mobile app increased 38% and the firm claims a market share of 0.71% of US existing home sales by value.
Among the technological innovations the firm introduced was a new level of automation to tour scheduling that confirms the availability of the home being toured, which lets Redfin instantly and completely confirm the entire tour.
The Seattle-based firm’s net income for the third quarter of 2017 rose from $5.7 million in the third quarter of 2016 to $10.6 million in the same period of this year.
"Redfin's brokerage market-share gains accelerated again in the third quarter, with strong traffic growth and steadily increasing sales in all of our new businesses," said Redfin CEO Glenn Kelman. "We also invested in making our service better and more efficient over the coming years while delivering better- than-expected earnings in the quarter, pairing long-term thinking with financial discipline."
The figures also show that the firm’s experimental service Redfin Now where it buys homes directly from sellers and sells them to buyers made $3.4 million.
Year-over-year traffic to Redfin’s website and mobile app increased 38% and the firm claims a market share of 0.71% of US existing home sales by value.
Among the technological innovations the firm introduced was a new level of automation to tour scheduling that confirms the availability of the home being toured, which lets Redfin instantly and completely confirm the entire tour.
