Redefy Holdings, Inc., Announces the Buyback of Redefy East Coast Franchise Operations
February 15, 2019
DENVER, Feb. 15, 2019 (GLOBE NEWSWIRE) -- Redefy Holdings, Inc., a disruptive technology company that is transforming the real estate market, today announced that it has reached a definitive agreement to buy back some of the company’s east coast franchise operations. These operations include Redefy franchise offices in North Carolina, South Carolina, Illinois and Ohio. The transaction is expected to close in the first quarter of 2019. Financial terms of the transaction were not disclosed.
These franchise operations were created in January 2015, as part of an effort to quickly grow Redefy’s footprint across the U.S. With the company’s improved capital structure, strong balance sheet and profitable operations, the Redefy is now in a position to bring these operations back into the company in an effort to create a more consistent customer experience and national brand.
“This is an important step in our effort to become the national leader in the technology-enabled, flat-fee, full-service real estate space,” said Chris Rediger, Chief Executive Officer of Redefy Holdings, Inc. “We are pleased to be in a position to continue to serve customers in these states and help them sell their homes, while keeping more of their hard-earned equity in their pocket.”
Redefy seeks to capitalize on the growth in the emerging online real estate market in the U.S., as the more tech-savvy buyers and sellers demand alternatives to the high fees associated with traditional real estate transactions. For the first time in 2016, the percentage of buyers who found the home they purchased themselves online surpassed 50%, exceeding the 34% who say they found their home through an agent, according to NAR’s 2016 profile of Home Buyers and Sellers. This compares with 2001 statistics where those numbers were 8% and 48%, respectively.
About Chris Rediger
Mr. Rediger is Co-Founder and Chief Executive Officer of Redefy Holding, Inc. He was recently named one of the 2019 Swanepoel Power 200 (SP200), which ranks the most powerful leaders in the residential real estate brokerage industry as of December 31, 2018. He has more than 14 years of new home construction and residential real estate experience. Prior to founding Redefy, he managed a $12 million residential real estate investment pool devoted to buying distressed homes or half-built properties, completing them and then renting or selling the finished assets. Mr. Rediger graduated with a bachelor’s degree from Colorado State University in Fort Collins, CO.
Redefy is a disruptive technology company that is transforming the real estate market. Redefy offers full-service real estate sales services for a $3,000 flat fee and passes the commission savings onto the home owner. Redefy does business in key states and major metro markets across the U.S. Redefy has been acknowledged for its innovation and growth by several leading sources. Redefy was named one of “Inman’s 2017 Most Innovative Brokerage” award finalists; was one of Inc. 500 List’s 2016 “Fasting Growing Companies” (Final Rank #103), “2016 Top 5 Real Estate Companies”, “2016 Top Denver Company” and “2016 Top Colorado Company”; Denver Business Journal’s 2016 “Top 10 Best Places to Work (Medium Sized Company category); and was named a finalist for “Inman’s 2015 Most Innovative Real Estate Company” award.
Managing Partner, Gagnier Communications