Redfin Enters Little Rock Market

William Porterfield (inset) will head the new operations of national real estate company Redfin.

Redfin, the self-described “next generation real estate brokerage,” has announced a new operation in Little Rock.

William Porterfield — a long-time executive broker at Pike Realty Group and then executive broker for Blackwood Realty, both of Little Rock — has been appointed to head Redfin’s central Arkansas operation as market manager and principal broker. Porterfield graduated in 2003 from the University of Central Arkansas in Conway with a bachelor’s degree in business administration and management information systems.

“We’re excited to join Little Rock’s business community led by several global nonprofit organizations like Winrock and Heifer,” Jim Carollo, Redfin’s expansion manager, said in a company press release. “We’re pleased to be able to share our world-class technology and customer-obsessed service with people in these cities.”

Founded in Seattle in 2006, Redfin offers a technology-driven approach to real estate, combining “its advanced technology with full-service agents who are paid a salary, receive benefits and earn bonuses based on customer satisfaction,” the release said. Reviews for Porterfield and other Redfin agents can be found on the company’s website, Redfin.com.

Redfin’s Little Rock service went live earlier this month with properties already listed, in addition to features including free professional photography, 3-D walkthroughs and a search function that shows homes for sale served by a particular school. The website’s listings are updated every 15 minutes.

The company said that “because most of Redfin’s customers discover the company through its website,” company agents are able to spend more time “working with existing clients and zero time looking for new business.”

For sellers, Redfin charges a 1.5 percent listing fee compared with the average 3 percent markup. For buyers, the company refunds part of the agent’s commission.

“For example, someone buying a $300,000 home with a Redfin agent … would receive a refund of over $1,500 at closing,” the release said.