In a news release, the two companies said that in areas where Redfin doesn’t have capacity to serve customers, Redfin refers customers to approved partner agents at other brokerages, including participating RE/MAX agents. When the customer closes on a home purchase or sale, Redfin receives a referral fee.
Participating RE/MAX agents will have the exclusive opportunity to meet customers from almost 5,000 U.S. postal codes where Redfin.com doesn’t promote any agents. In addition, Redfin will only partner with RE/MAX in Canada. Redfin launched its Canadian real estate search site on Feb. 12, bringing its industry-leading search experience to most Canadian provinces. RE/MAX is the market share leader in Canada, selling more real estate than any other brand in 2018, as measured by residential transaction sides, said the companies.
“Teaming with Redfin further enhances the value we offer to our network of highly productive agents and differentiates RE/MAX from the competition,” said Adam Contos, CEO of RE/MAX, in a statement. “By combining our expansive network of professional agents across the U.S. and Canada with Redfin’s massive online audience, consumers are connected with best-in-class agents, and our affiliates are given exclusive access to a rich source of referrals. Everybody wins.”
“The RE/MAX agents who are already our partners get some of the highest customer-satisfaction scores in our program,” said Redfin CEO Glenn Kelman in a statement. “Our own research has shown that RE/MAX agents are more likely to stay at their brokerage than agents at any other major traditional brokerage, and it is well known that RE/MAX agents are far more productive than the industry average. Happy customers, happy agents, with significant experience at every stage of a sale: these were the reasons that we concluded a RE/MAX partnership would lead to better service for customers browsing Redfin.com and Redfin.ca in the areas where Redfin doesn’t employ one of our own agents.”
Mario Toneguzzi is a Troy Media business reporter based in Calgary. He writes for Calgary’s Business.