Redfin’s a customer-focused tech savvy real estate brokerage.
Redfin’s forums connect customers with each other so they can ask questions and get advice as they tackle one of the largest and most considered purchases of their lives.
There are other real estate message boards out there, but Redfin’s forums are the only broker-hosted message board. This means they draw a smart, data-driven, DIY crowd with fewer gawkers and more folks embroiled in deals who want to know what to offer or how to negotiate. They also bring much-needed transparency to an industry notorious for hoarding information from its customers. In keeping with Redfin’s no-pressure sales approach, they are ad-free and encourage free opinions and debate. People are free to criticize Redfin, its business and to propose other alternatives.
With over 51,000 posts the Lithium-powered forums are growing; visits have increased 417% year over year.
Redfin’s forums have played a large role in making Redfin known as a customer-focused and transparent real estate brokerage. This is seen in an increase in conversion from website user to brokerage customer; 51% of people who bought a home through Redfin reported that the forums influenced their decision to work with the brokerage. Prior to making a purchase, over 27% of Redfin buyers had posted a question to the forums. A forums user says it best, “it's this openness and transparency that attracts me to Redfin. I believe that is unmatched by any of Redfin’s competitors.”
In addition to its brand building and conversion values Redfin’s forums have had a significant business impact thanks to an increase in word-of-mouth marketing. Today, 40% of people heard of Redfin from a friend and revenue has grown 40% year-over-year while marketing expenses have been reduced by 82%.
July 2007 to present