A strategic alliance has been announced between RE/MAX and Redfin in Canada and the United States.
Building on an established 10-year relationship that the two real estate firms already have in the US, Redfin will refer customers to other brokerages where it does not have its own agents.
In the US, these referrals may be to RE/MAX agents or to other participating brokerages; but in Canada only RE/MAX agents will receive referrals.
“Teaming with Redfin further enhances the value we offer to our network of highly productive agents and differentiates RE/MAX from the competition," said Adam Contos, CEO of RE/MAX, LLC. "By combining our expansive network of professional agents across the U.S. and Canada with Redfin's massive online audience, consumers are connected with best-in-class agents, and our affiliates are given exclusive access to a rich source of referrals. Everybody wins."
Redfin entered the Canadian real estate market in February this year with its listings site while its US operations are more mature with its own agents across multiple markets and its own mortgage operation.
The firm has announced that it is reducing its onboarding fee for RE/MAX partner agents in Canada.
"Our own research has shown that RE/MAX agents are more likely to stay at their brokerage than agents at any other major traditional brokerage, and it is well known that RE/MAX agents are far more productive than the industry average,” said Redfin CEO Glenn Kelman. “Happy customers, happy agents, with significant experience at every stage of a sale: these were the reasons that we concluded a RE/MAX partnership would lead to better service for customers browsing Redfin.com and Redfin.ca in the areas where Redfin doesn't employ one of our own agents."
The agreement will last for an initial period of two years.