Looking back at 2010, the Partner team here at Redfin has a lot to be thankful for. We have delighted 950+ home-buyers this year by combining Redfin's no-strings-attached search technology with super-star partner agents focused on customer service.
The program is growing quickly, with 725 of those sales coming since May 1st. Just recently we've updated Redfin.com to feature our partners more prominently and we're setting records for number of referrals per week at the slowest time of the year. Watch out 2011!
Our partners receive pay-at-close referrals from Redfin.com, but hang their licenses with other brokerages like Prudential, Re/Max, Century 21, and Keller Williams as well as a whole host of local and independent brokerages. When we developed the program we wanted to focus on 5 key things that set our referral program apart from everything else out there:
- Shared goals: We only make money when you make money. There's no cost to join, nothing per month, and no obligation. If it's not a fit, just let us know.
- Tons of opportunity: Our goal is to get each partner an average of 6-8 referrals per month
- Quality referrals: We show consumers every listing and all the details that we're allowed to (by MLS policy) so they're well-informed. When they choose to work with an agent, it's at their own pace, and they are ready to move their search from the web to the real world.
- One client. One agent: We put the choice of agents in the hands of the consumer. If you're selected that referral goes directly to you, and only you, not to every agent that claims to service that zip code.
- Quality, not quantity: We only partner with high-performing, customer-serivce oriented, customer advocates. You'd be proud to hang your shingle next to any of these agents. In fact, we've met a ton of them here in the Rain!
Looking back at 2010 we had some great success stories to share:
- Redfin.com generated 11,000 referrals to our 306 partners
- Our partners closed $308 Million in real estate and grossed $8.4 Million commissions on Redfin-referred transactions
- Our top partner, Miguel Aguilar, closed 30 Redfin-referred transactions in 2010
- Since Feb 2009 we've had 6 partners generate more than $250K in gross commissions, another 25 with $100K+, and 47 in the $50K+ club.
- For partners who have been in the program at least 90 days, the average is 5.5 closed transactions and $47K in gross commissions
As we move into 2011 we are looking to add top-performing agents to our extended family of partners. Check out how the program works and sign-up for our webinar to get the nitty gritty.
To a successful and prosperous 2011!
The Redfin Partner Team
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