(Photo illustration by Jhila Farzaneh for The Real Deal. Credit: Getty Images)
In its bid to steal market share from traditional brokerages, Redfin will mow your lawn. They’ll also take pictures, stage your home, and give it a deep clean.
The Seattle-based real estate technology firm announced that it is bringing a trial of its concierge service to Los Angeles and Washington D.C., according to BusinessWire. Under the service, available for homes priced at $500,000 or more, the company will clean, paint, stage and landscape clients’ houses for a 2 percent listing fee.
Each home will get its own custom plan under the service, but the 2 percent fee does not include commission for the buyer’s agent, which is also generally between 2 and 3 percent.
Redfin, an online brokerage generally seen as a barometer for technology’s ability to disrupt the real estate industry, debuted as a public company in late July, and the company closed its first day on the Nasdaq market at a value of more than $1.7 billion.
The company announced earlier in November that it had generated $109.5 million during the third quarter, which was a 35 percent increase from last year. However, a small inventory hurt potential home sales, and CEO Glenn Kelman told investors that he does “not expect money on the full year.” [BusinessWire] – Eddie Small
