Who Determines Home Values on Redfin?


Quick Answer

Customers using Redfin can determine the value of their own home by using the online "Home Price Tool," which uses the same information used by real estate agents to price a home. This includes information about recent sales in the area, which is then used to calculate a price range for the home in question.

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Full Answer

Redfin is a Seattle-based company founded in 2004 to provide real estate databases and services online. The "Home Price Tool" uses information about recent sales taken from the Multiple Listing Service, or MLS, a database used by real estate agents to record their sales. This is then used in an algorithm to provide customers with a price range for the home they wish to buy or sell.

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