New Release of Website Also Maps Open Houses, Includes Property Valuations from Cyberhomes SEATTLE, March 4 /PRNewswire/ -- Online real estate broker RedfinCorporation today released Redfin Listing Metrics, a dashboard for Redfin'slisting customers to analyze neighborhood inventory trends and recentsales, and to compare their listing's online traffic to that of otherlistings in the neighborhood. (Logo:
-- Online traffic to the listing on Redfin.com as compared to the neighborhood average, so Redfin customers can determine if their listing is competing for online buyers' attention; -- Sources of online traffic to the listing on Redfin.com, so Redfin sellers can evaluate the effectiveness of promoting their listing on other sites; -- The number of competing broker-listed properties in the neighborhood, so Redfin customers can evaluate supply and demand to determine if pricing conditions are changing; and -- The average days on market for broker-listed properties in the neighborhood, so Redfin customers can determine if their property is taking too long to sell. The dashboard also provides an overview of nearby similar listings, soRedfin sellers can compare their listing's pricing, photos and amenities tothose of its competition, and an overview of recently sold properties inthe neighborhood, so Redfin sellers can evaluate closing prices as well aslisting prices. Using the dashboard, Redfin customers can also schedule andpromote open houses. Starting today, Redfin's real estate search map now displays open-housedata that originates directly from local Multiple Listing Services, whichbrokers use to share open-house information with their peers and theirclients. Together with Redfin's January announcement of a home tours policythat allows clients to go on four home tours without paying any moneyup-front, the open-house data will make it easer for Redfin buyers to seelistings. The Cyberhomes property appraisals join estimates from Zillow.com andeppraisal.com to offer home buyers a comprehensive perspective on the priceof each listing displayed on Redfin.com. The Cyberhomes estimate isvaluable because it draws on data directly from one of the nation's largesttitle insurance companies, Fidelity National Financial. The new release comes less than 45 days since Redfin released a versionof its site featuring neighborhood boundaries, high-frequency listingupdates, pricing analysis tools and Apple Safari browser support. "We believe technology can give home buyers and sellers a competitiveadvantage throughout the transaction, not just during the search," saidRedfin Chief Technology Officer Michael Young. "The most important issuefor our listing customers has been evaluating their home's marketing andpricing by comparing online traffic and closing prices for listings acrossthe neighborhood." "This release is an example of our Freakish Depth strategy in action,where we use anonymous data collected from our search site to guide ourcustomers engaged in a transaction," Mr. Young continued. "In turn we canuse anonymous data gathered from ongoing transactions to build a bettersearch site. Our website makes our business model possible by automatingkey tasks, but our business model is also what gives us the deep dataaccess we need to build a better site." About Redfin Redfin (
