"I can see exactly what they are doing, " said Karen Krupshaw, market manager for Redfin.
Redfin represented a buyer that made the winning bid on a Gaithersburg, Md.
Real estate agents who work for Redfin are paid a bonus for each home purchase or sale that they facilitate.
Redfin recently launched its Collections section, allowing users to compile and share photos of for-sale homes on a Pinterest-style platform.
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Future Advisor, Redfin (real estate) or Castlight (healthcare) are all interesting examples of entrepreneurs creating data products from democratized government data.
Redfin chief executive Glenn Kelman says his agents are reporting flash sales, month-to-month price markups, and instant home flips in recent months.
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Nearly 83% of offers that Redfin agents have made on behalf of clients in the San Francisco Bay area this year and 71% in Southern California have had competing bids.
Redfin also tracks the aggregate net promoter score of their customers, and this score ranks alongside revenue and profitability as a core factor in annual compensation from the CEO on down.
Future Advisor uses data from consumers and the U.S. Department of Labor, Redfin synthesizes data from economists and government agencies, and Castlight uses health data from the U.S. Department of Health and Human Services.
"We're writing a record number of offers, but we're not seeing a record number of closings and that's because it's so competitive, " said Glenn Kelman, chief executive of real-estate brokerage Redfin Corp. in Seattle with offices in 14 states.
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