Featured News

Do Your Clients Trust You? Redfin's Home Price Tool Removes All Doubt

Real estate technology is a fast growing industry in its own right, so perhaps that is why it's no surprise that the real estate brokerage firm Redfin is breaking with tradition and sharing some industry secrets with the average home seller.

Their new “Home Price Tool” puts all of the information traditionally available only to brokers at consumers' feet – giving them the knowledge they need to determine a realistic price for their home before consulting with an agent.

According to Redfin, after using their new, interactive tool, “a home owner can then have a true dialogue with her agent about pricing of the home for the market.” This tool is unlike others now available because it educates the home owner about the pricing process rather than just plunking a number out on the screen in response to information the seller inputs.

This could be a very smart decision for Redfin, for at least 2 reasons:

  1. Home owners love their homes, and as such they typically think their home is worth more than what the market determines, so understanding the process can help smooth the entire process
  2. Foreclosures are a glut on many markets, distorting the true value of a property. When a homeowner understands more about how the market works, she will be more realistic about her asking price, thereby improving her chances of making a sale.

Jim Lamb, lead product manager for Redfin defends the company's controversial decision. “Estimating a home price is more art than science. When the home owner and her real estate agent both have access to the same information, it becomes a productive conversation and it paints a much more accurate picture of the home's value. The Home Price Tool is a kind of freedom for home owners. They no longer have to accept what their agent or some website's mystery formula tells them their home should be worth.”

How do you feel about this new tool? Do you believe it will help or hurt your business?

Redfin Home Price Tool

Anita Cooper

Anita Cooper is a copy and content writer with a vendetta against bad copy. She helps real estate tech companies grow their pipeline by providing lead gen copy and content. Have world real estate news to share? If you do and would like to interview, feel free to contact Anita at anita@realtybiznews.com.

Recent Posts

Grow Your Financial Business through Postcard Marketing

In the realm of finance, where sound advice and strategic planning are paramount, reaching and…

10 hours ago

Mortgages with Low Credit Scores - Your Guide to Affordable Home Financing

'Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there…

1 day ago

Best Cars for Realtors in 2023

In the fast-paced world of real estate, a reliable and efficient vehicle is often an…

2 days ago

How is immigration affecting the real estate and housing market

Immigration can have several effects on the real estate and housing market in any given…

3 days ago


The nSkope Predictive Analytics Report unveiled today showed that families with children under 24 years…

4 days ago

ERA REAL ESTATE EXPANDS PRESENCE IN INDIANAPOLIS METRO Top-Performing Independent Brokerage in Putnam County Becomes ERA® Powered

ERA Real Estate®, a global franchising leader within the Anywhere portfolio of brands, announced today…

4 days ago