Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

During its early days, Redfin largely left buyers and sellers to work through the real estate process on their own by using its website (

During its early days, Redfin largely left buyers and sellers to work through the real estate process on their own by using its website (or App). While agent support was available, it would be an additional upcharge for the customer and was based on the amount of agent time used. The company soon found out that many people were uncomfortable with this approach. Even though it was inexpensive on average, customers worried about how expensive the total transaction might become if the purchase or sale took a long time.
Because it wasnt attracting enough customers, Redfin was at risk of becoming an unviable business. So, the company changed its business model so that customers would have support from a licensed realtor included in the fee.
Such a change in the business model, unde
a. Subscription
b. Scope choice
c. Commission
d. Pivot
e. Alignment

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Project Management The Managerial Process

Authors: Erik W. Larson, Clifford F. Gray

7th edition

1260547272, 1259666093, 9781260547276, 978-1259666094

More Books

Students also viewed these General Management questions

Question

1 Defi ne the different types of brand extensions.

Answered: 1 week ago