Redfin Overview
Founded: 2005 Monthly Traffic: 6M
Redfin is a residential real estate company that provides an online real estate database and brokerage services.
Competitive UX Analysis Summary
Why Do a Competitive Analysis?
Provides a definition of competitive analysis and the expected benefits.
Who are Redfin’s Competitors?
Here I discuss how to identify competitors and how they are broken down into three categories: direct competitors, indirect competitors, and influencers.
Direct Competition Analysis
Direct competitors are identified. I give an overview of each company followed by an in-depth UX analysis.
Indirect Competition Analysis
Indirect competitors are identified. I give an overview of each company followed by an in-depth UX analysis.
Influencer Analysis
An overview of influencers and important UX features are discussed.
Redfin’s Competitive Advantage
I discuss how Redfin can increase their competitive advantage in the future.
Feature Recommendations
I identify 12 feature recommendations for improving Redfin’s competitive advantage.
Why Do A Competitive Analysis?
A competitive analysis looks to see what companies are already doing, examining what works well and what isn’t working. By comparing competing products and services we can develop an advantage by staying informed of the market landscape.
Who Are The Competitors?
Direct Competitors
Direct competitors have the same or very similar value proposition. These consumers are our target with the direct competitor’s product.
Indirect Competitors
Indirect competitors have a similar value proposition to a different customer segment but may also target the same customer base with the same value proposition.
Influencers
Influencers are not competitors but offer potential feature differentiators.
Direct Competitor Analysis
Zillow Group owns Zillow and Trulia, two of Redfin’s largest competitors. Zillow group is backed up by an estimated $1.3B in annual revenue. Zillow, receiving approximately 26M user visits a month and Trulia receiving approximately 23M visits per month, make up a major market segment.
While Zillow group is the largest online real estate company currently operating in the U.S. and can offer users benefits at scale, it is also stagnating in innovation and development of features and benefits.*
*https://www.investopedia.com/articles/markets/100215/5-best-alternatives-zillow-trulia.asp
Zillow
Founded: 2005
Monthly Traffic: 36M
Zillow is an online residential real estate site that serves users through the full lifecycle of owning and living in a home.
Trulia
Founded: 2005
Monthly Traffic: 23M
Trulia is an online residential real estate site for home buyers, sellers, renters and real estate professionals. Trulia offers 34 unique neighborhood map overlays.
Indirect Competitor Analysis
Auction.com
Founded: 2007
Monthly Traffic: 2M
Auction.com is the leading online real estate marketplace focused on the sale of bank-owned and foreclosure properties to real estate investors.
Influencer Analysis
Airbnb
Airbnb is a community marketplace for people to list, discover, and book unique spaces around the world through mobile phones or the internet. Airbnb connects travelers seeking authentic experiences with hosts offering unique, inspiring spaces around the world.
Zumper
Zumper is an online platform for users to search for apartments or houses for rent. Users can also post their own rental properties. Zumper's goal is to simplify, speed up, and overall improve the whole process of renting.
Redfin’s Competitive Advantage
Continuing to innovate and add features before its larger, and slower moving, competition.
Redfin employs real estate agents who are rated by users, building trust between the company and users. Redfin should increase the visibility of their trustworthy and communicative agents.