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This statistic highlights Redfin Corp’s Monthly Active Users (MAUs), reported on a quarterly basis from Q1 2016 onwards.
Redfin is a full-service real estate brokerage that was founded in 2004. In August 2017, the Seattle-based company went public. Redfin is a real estate brokerage platform that uses technology to help people buy and sell homes.
What are monthly active visitors?
The number of, and growth in, visitors to the website and mobile application of the company are important leading indicators of the business activity because these channels are the primary ways the company meets customers. Monthly average visitors refers to the average number of unique visitors to the website and mobile application for each of the months in that period. Monthly average visitors are influenced by, among other things, market conditions that affect interest in buying or selling homes, the level and success of the company’s marketing programs, seasonality, and how their website appears in search results. Redfin believes that they can continue to increase monthly visitors, which helps their growth.
Redfin Corp’s Monthly Active Users
|Item||Q2 2020||Q3 2020||Q4 2020||Q1 2021||Q2 2021||Q3 2021|
|Monthly average visitors||42.54||49.26||44.14||46.20||48.44||49.15|
(All figures are in millions)
Redfin Corp’s Monthly active users inclined from 42.54 million in Q2 2020 to 48.44 million in Q2 2021, marking an increase of 13.87% (5.9 million) on a year-on-year basis. Quarterly, the number of rides showed an increase of around 1.47% (0.71 million) as the number of users inclined from 48.44 million in Q2 2021 to 49.15 million in Q3 2021.
In 2020, this company’s average number of users showed a fluctuation. This is evident from the fact that the number of users increased from 42.54 million in Q2 2020 to 49.26 million in Q3 2020, registering a growth of 15.8% (6.72 million). This was further continued with a decrease in the average users as they declined to 44.14 million in Q4 2020, accounting for a decrease of 10.39%. This was followed by a good recovery in the number of users in the next year as Redfin’s Number of rides increased from 44.14 million in Q4 2020 to 46.20 million in Q1 2021, projecting growth of 4.67% (2.06 million).
In 2021, the company’s average number of users witnessed an upward and positive trend. Thus, the number of users further rose from 46.20 million in Q1 2021 to 48.44 million in Q2 2021, accounting for an incline of about 4.85% (2.24 million). This was followed by continued growth in the users by 1.47% (0.71 million) as it increased from 48.44 million in Q2 2021 to 49.15 million in Q3 2021
On an overall analysis of the past years, it can be concluded that the company witnessed fluctuations in the number of monthly active users in all the quarters from 2016 to 2021. However, on a closer look at the statistics, it can be seen that there is a rise in the number of users from 13.99 million in Q1 2016 to 49.15 million in Q3 2021, marking a huge growth of 251.32% (35.16 million).
About the Company
Redfin is a full-service real estate brokerage. The company is based in Seattle and was founded in 2004, and went public in August 2017. Glenn Kelman is the CEO. the company’s basic business working to undercut competition is based on sellers paying Redfin a discounted fee, either 1.0 or 1.5% to list the seller’s home. This does not include an extra fee charged to the seller to compensate the brokerage representing the buyer. This latter fee usually is in the 2.0-3.0% range. Buyers who purchase from Redfin also receive some of the agent’s commissions (called Redfin rebates). This can be applied to closure costs or in the form of a check after closing your home tax-free. Redfin brings to the market is part of a consumer-centric strategy that also includes technical assistance in buying and selling residential real estate. It is a hybrid real estate platform, which means it buys and sells properties using both human and technological expertise. The platform functions similarly to a traditional brokerage system, with the added benefit of ensuring that both buyers and sellers pay the lowest possible commission for a transaction (when done through Redfin agents).
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