We launched Redfin Builder Services publicly, the morning of November 13th. Less than three months in, it was a hustle, a fair bit of stress, a great deal of fun. This is Redfin's first effort to serve the real estate development community. We started off with a bang, with coverage from Geekwire, Inman, Seattle Daily Journal of Commerce, Seattle City and Press, Builder Magazine, PRWeb, URBNLIVN, My Ballard Blog, and Curbed Seattle. I am honored to partner with In Haus, the developers behind Solo Lofts condominium project in Seattle’s Ballard neighborhood. The building will come online at just the right time, and nails a sweet spot in the market - boutique building, design forward, green, urban, walkable. At our first meeting, the in Haus principals told us frankly "We know our buyers will be looking on Redfin.com, the question is whether we should list with Redfin".
How we won the opportunity to bring their gorgeous building to market? Probably best to ask them... On our side, hard work. We will deliver the full strength of Redfin - from digital marketing and breadth of exposure on Redfin.com to sophisticated PR, marketing, and design. As an early indication, we reached 674 'Likes' on the Solo Lofts Facebook page and over 125 registrations within five days of launch - 95% buyers and 5% real estate professionals. Not bad for 20 units. So far, so good. Pre-sales begin in January, 2014. Follow Solo Lofts on Facebook for the latest details, and register online, as we'll be building on that momentum in weeks to come.
Also November 13th, just a few hours later, Redfin announced it's $50mm capital raise led by Tiger Global Management and T Rowe Price. This would be great news on any day. It's phenomenal news for Redfin Builder Services, as funds will be invested in growth - no secrets there, all press has highlighted this topic. Net, 2014 will be an exciting and busy year for all of us.
Earlier this summer, just two minutes and seventeen seconds after sending my signed contract across, Redfin CEO Glenn Kelman was the first to respond " Welcome aboard! We’re so glad you decided to join us. Strap in, it’s going to be a wild ride".