Redfin
"We're taking dead aim at the traditional real estate industry," says Glenn Kelman, CEO of Redfin, an online brokerage creating a stir, like Zillow, in the housing sector. In Kelman's cross hairs: realtor fees. If you're willing to do the legwork (e.g., taxi yourself to open houses), Redfin will handle the essentials of the offer and the close. Say you're buying a $1 million home. As a buyer you simply write a check. With these guys you get a cut of their broker's commission (in this case, $20,000). So far Redfin has closed on 428 homes, making about $1.75 million for itself and refunding $3.4 million to buyers. --E.F.K.
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