Redfin is a residential real estate brokerage operating in roughly 100 U.S. and Canadian markets. Its core pitch to home sellers is a listing commission of 1–1.5%, well below the traditional ~2.5% industry rate. Redfin attracts customers primarily through its website and mobile app, which draw roughly 48M monthly visitors. Unlike traditional brokerages that use independent contractors, Redfin employs its agents directly — though in 2024 it transitioned all agents to a fully commission-based pay structure ("Redfin Next"), replacing the prior salary model. Redfin also runs a partner referral network of over 5,100 agents at other brokerages, used in thinner markets; those agents pay Redfin a referral fee at close. Beyond brokerage, Redfin operates several adjacent businesses: Bay Equity, a mortgage lender acquired in 2022 that originates loans to Redfin homebuyers; Title Forward, a title and settlement services business covering roughly 63% of Redfin's transactions; and a rentals segment built around Rent.com and ApartmentGuide.com. In early 2025, Redfin restructured the rentals business via a partnership with Zillow, under which Zillow pays Redfin for apartment-seeker leads — sharply reducing rentals revenue but expected to more than triple segment profitability. A smaller Monetization segment includes display advertising, new construction leads, and Walk Score licensing. Redfin's core profitability strategy centers on "attach economics" — converting brokerage customers into mortgage and title customers to improve per-customer unit economics and justify higher customer acquisition spending.