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Redfin online brokerage moves into Denver, Springs could be next

Fri, Feb 4, 2011

News

Alternative online brokerage Redfin expanded into the Denver market this week, and Colorado Springs could be next on the list.

Redfin will cover the Denver-metro area, including  Englewood, Greenwood Village, Littleton, Lone Tree, Centennial, Highlands Ranch, Boulder and Longmont.

According to a company press release, Redfin operates differently than traditional brokerages by stressing “consumer advocacy, transparency and value.” Redfin pays agent bonuses based on customer satisfaction, not commissions, which the company said can save customers up to 50 percent on a typical commission.

Redfin also said it offers greater transparency through an online portal where potential buyers have access to price history and length-of-time on the market.

According to Michelle Ackerman, president of real estate operations for Denver, Redfin will not cover Colorado Springs at this time.

“It’s in our long-term goals,” she said. “But if things go well it could be less than a year before we’re down there.”

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