Friday, January 28, 2011

Online Real Estate Firm Expands To Denver

Online real estate site Redfin said Friday that it has set up shop in Denver. The online real estate broker, based out of Seattle, uses the Internet to provide discounted purchasing for home buyers. Instead of the traditional commission paid to a real estate agent, Redfin refunds 50% of that fee back to the buyer, by allowing clients to find properties and transact much of their business through its online site, rather than through a real estate agent. Denver is the firm's 16th market. Redfin is venture backed by Madrona Ventures, Greylock Partners, Draper Fisher Jurvetson, Vulcan Capital, BEV Capital and The Hillman Company.