Redfin vs. Zillow: How are they different?<\/h2>\n
Here are some of the key differences you\u2019ll see when taking a closer look at Redfin vs. Zillow.<\/p>\n
For-sale-by-owner (FSBO) listings<\/h3>\n
Redfin does not enable users to directly upload a For Sale By Owner (FSBO) listing. However, if you\u2019ve listed on Fizber or FSBO.com, Redfin says it will be able to display it as an active listing<\/a>, according to a support page.<\/p>\n Zillow does have a feature that allows FSBO sellers to upload a listing directly<\/a> to the site for free, and users can include video and unlimited photos. (Note: Only 7% of homes sold in the U.S.<\/a> are listed as FSBO, according to 2023 data from the National Association of Realtors. The typical FSBO home sold for $310,000 compared to $405,000 for agent-assisted home sales.)<\/p>\n As of 2024, neither Redfin nor Zillow offer iBuyer services. Zillow\u2019s service, Zillow Offers<\/a>, was shuttered in November 2021. One year later, Redfin announced<\/a> the winding down of its iBuyer division, RedfinNow.<\/p>\n iBuyers<\/a> can be a good option for people who need to sell a home quickly and don\u2019t want to make repairs or prepare the property ahead of the sale. For example, a seller with an unwanted inherited house or someone moving for a job may prioritize a certain level of convenience that iBuyers can offer.<\/p>\n Redfin and Zillow make money in different ways. In 2023, 63% of Redfin’s revenue<\/a> came from its real estate services, including listing fees, partner agents, and referral programs. Other revenue comes from mortgage, title, Walk Score<\/a> data, advertising, and other ancillary services.<\/p>\n By contrast, Zillow charges real estate agents who advertise on its site using a \u201cpay per lead\u201d model. In Q1 2024, Zillow\u2019s total revenue was $572 million<\/a>, up 13% year-over-year. $409 million of that revenue came from residential real estate, while additional sources include Zillow\u2019s rentals, mortgage, and other services.<\/p>\n Which services on Zillow vs. Redfin are similar? Let\u2019s take a look.<\/p>\n Both Redfin and Zillow provide home value estimator tools on their websites. Buyers could use them, too, to gather intel on whether they\u2019re paying a fair price for a home. As of this writing, Redfin says its tool has an error rate of 1.96% for on-market homes<\/a>, compared to Zillow\u2019s slightly higher 2.4%<\/a>. Review HomeLight\u2019s guide on the top 8 home value estimators<\/a> of 2024 and see how they compare.<\/p>\n Both Zillow and Redfin use IDX (internet data exchange), which creates connections between the MLS and a website, in order to display real estate listings to the public. Redfin says 70% of listings on its site are updated every 2 minutes<\/a>. While we were unable to find a comparable figure on Zillow\u2019s site, the update time is likely similar or the same. Zillow transitioned from using direct MLS feeds to IDX in 2021<\/a>.<\/p>\n Redfin and Zillow both offer apps with a variety of useful tools. View each one to see their different features:<\/p>\n Both Redfin<\/a> and Zillow<\/a> offer suggested agents on their sites. This agent could be a salaried employee (Redfin) or one in the site\u2019s network who pays for the lead (Zillow).<\/p>\n While it would be easy to hire the first agent who pops on your radar from one of these sites, it\u2019s important to consider the quality of the agent you ultimately end up working with.<\/p>\n<\/div><\/div><\/div><\/section> Consider using HomeLight<\/a> if you need to find a top-rated agent with positive reviews and a track record of success in your area. HomeLight\u2019s agent suggestions<\/a> are tailored to you, and agents can\u2019t pay to be listed, so you get the best match.<\/p>\n\t\t<\/div>\r\n\t\t<\/div><\/div><\/div><\/section> How would a home seller use their websites?<\/p>\n Both sites allow homebuyers to filter results, set up saved searches, and get notified of new listings. In a hot market<\/a>, this could mean the difference between jumping on a new home listing right away and missing out. (However, a top real estate agent may have the biggest advantage, with the inside track on what\u2019s soon to be listed in their brokerage).<\/p>\n Another key differentiator between the companies is Redfin\u2019s \u201cSign & Save.\u201d<\/a> Buyers who commit to working with a Redfin agent before their second home tour, and buy a property with that agent within 180 days of signing, are offered a refund of 0.25 to 0.5%<\/a> of the home purchase price. However, this rebate isn\u2019t legal in all states and is subject to lender approval and minimums.<\/p>\n<\/div><\/div><\/div><\/section> Zillow operates nationwide. Redfin says it is a nationwide brokerage but some locations may be \u201cout of area.<\/a>\u201d Services like Redfin Concierge<\/a> only operate in certain cities and states, primarily major metropolitan areas.<\/p>\n The only costs for both websites are the commissions or listing fees you might pay to an agent you hire. Downloading their app, signing up for alerts, and asking for agent referrals are all free.<\/p>\n \n\n\n\n\niBuyer services<\/h3>\n
Revenue streams<\/h3>\n
How are they the same?<\/h2>\n
Home value estimates<\/h3>\n
Listing source<\/h3>\n
Mobile apps<\/h3>\n
\n
Connecting with agents<\/h3>\n
How do Redfin and Zillow work for home sellers?<\/h2>\n
\n
How do Redfin and Zillow work for homebuyers?<\/h2>\n
Do Redfin and Zillow both serve your area?<\/h2>\n
Is there a cost to use Redfin or Zillow?<\/h2>\n