Over the weekend, The Seattle Times delved into Redfin and how the high-tech, full-service brokerage has gone old school in an attempt to compete with local realtors for market share. It's worth a read if you're interested in Redfin's trajectory and how they've had to take some steps back in order to try and move forward. What intrigued us was some of the numbers included in the article to spell out which brokerages are doing the most business in King County's competitive real estate market. If you've ever stopped to pay attention to all of the for sale signs on the side of the road, perhaps this just confirms what you already know.
Comparing data from 2008 and 2014, Windermere remains far and away the leader in local units sold. While they don't have the 30.1 percent stranglehold on the market they had back in '08, the brokerage founded in the Seattle neighborhood it was named for still leads the way with a 25.9 percent market share. They're followed by John L. Scott with 12.4 percent (down from 15.1), Coldwell Banker with 8.9 percent, RE/MAX with 7.5 percent and Keller Williams with 6.6 percent (the big gainer since 2008 when they had 2.8 percent share). As for Redfin, they're slowly working their way up the ladder at 2.7 percent (up from 1.1 percent in 2008). That's good for 8th overall, behind Prudential and Skyline. Still, they and Keller Williams are the only two of the top eight brokerages to gain ground in that timeframe.
· Redfin's bid to overthrow traditional brokers still a house-to-house battle [ST]