The digital transformation revolution is offering enormous opportunities for growth across all kinds of areas. Technology is transforming industries such as communications, entertainment, enterprise management, and commerce, to name a few noteworthy examples among countless others. The real estate sector is now poised for disruption too, and Redfin (NASDAQ:RDFN) could benefit from exponential growth opportunities due to this trend in the years ahead.
A Disruptive Business Model
Redfin has a clear mission “to redefine real estate in the customer’s favor”. The company’s name is an anagram that encodes “Friend” and “Finder”. The company is well-known for charging a commission of 1.5% or even 1% if you sell and buy with Redfin as opposed to the standard 3% commission charged by most competitors.
Redfin uses technologies such as map search and virtual house showings to increase exposure, improve the quality of the customer experience, and to deliver efficiencies and cost savings.