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This statistic highlights the Redfin Corp’s Number of Lead Agents, reported on a quarterly basis from Q1 2016 onwards.
Redfin is a technology-enabled real estate brokerage platform for buying and selling residential real estate. The company operates in more than 80 markets and offers local distributors to simplify the consumer buying and selling experience.
What do Lead Agents do?
Redfin’s lead agents collaborate with proprietary technology to deliver services and make recommendations to customers in a timely and cost-effective manner. It has access to Multiple Listing Services (MLS), so it has more up-to-date data than online platforms that rely solely on manual home listings. Redfin connects buyers and sellers with local agents who provide listing recommendations based on the buyer’s and seller’s needs and the local market. For properties in the surrounding area, the agents prepare a comparative market analysis (CMA). Buyers can meet with the agents to take a tour of the properties that meet their needs.
|Item||Q2 2020||Q3 2020||Q4 2020||Q1 2021||Q2 2021||Q3 2021|
|Redfin Corp’s Number of lead agents||1.40||1.82||1.98||2.28||2.46||2.37|
(all figures are in millions)
Redfin Corp’s Number of Lead Agents inclined from 1.82 million in Q3 2020 to 2.37 million in Q3 2021, marking a 30.21% of incline on a year-on-year basis. Also, the number of lead agents showed an increase of around 35.16% as the number of lead agents increased from 1.82 million in Q3 2020 to 2.46 million in Q2 2021.
In 2020, this company’s number of lead agents showed a continuous rise. This is evident from the fact that the number of lead agents increased from 1.40 million in Q2 2020 to 1.82 million in Q3 2020, registering a growth of exactly 30%. This increase further continued as lead agents rose to 1.98 million in Q4 2020, accounting for an increase of 8.79%. This was followed by a good growth rate in the next year as Redfin Corp’s Number of Lead Agents increased from 1.98 million in Q4 2020 to 2.28 million in Q1 2021, projecting growth of 15.15%.
In 2021, the average number of lead agents witnessed similar fluctuations to 2020. Thus, the number of lead agents rose from 2.28 million in Q1 2021 to 2.46 million in Q2 2021, accounting for an incline of about 7.89%. This was followed by a small decline of 3.65% as it decreased to 2.37 million in Q3 2021 from 2.46 million in Q2 2021, on a quarter-on-quarter basis.
On an overall analysis of the past five years, it can be seen that the average number of Lead Agents witnessed several fluctuations in all the quarters from 2016 to 2021. However, on a closer look at the statistics, it can be concluded that there is a continuous rise in the number of Lead Agents from Q1 2016 to Q2 2018. It is evident from the fact as the number of Lead Agents sharply rose from 743 thousand in Q1 2018 to 1.42 million in Q2 2018, projecting a tremendous growth of about 91.89%. This is followed by a minor decline in one quarter as the number of Lead Agents declined from 1.42 million in Q2 2018 to 1.40 million in Q3 2018, indicating a decrease of 1.40%. This is followed by a major recovery as again the number of lead agents inclined to 1.50 million in Q1 2019, marking the growth of 7.14%.
Redfin is a full-service real estate brokerage that was founded in 2004. In August 2017, the Seattle-based company went public. The company was founded by David Eraker, Michael Dougherty, and David Selinger. Redfin is a real estate brokerage platform that uses technology to help people buy and sell homes.
A conservative real estate industry with technology includes a variety of services and companies such as real estate and rental management, short-term rental (Airbnb, Pillow), commercial real estate, and securities companies (Redfin). What 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. The common stock of the company is publicly traded on the NASDAQ under the symbol “RDFN”.
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