Seattle-based real estate firm Redfin has entered Hawaii’s housing brokerage industry with its first office.
The full-service company, which pays agents a salary plus a bonus tied to published customer ratings, announced the office’s opening Wednesday.
The office is at 1441 Kapiolani Blvd., Suite 1115, and led by Mike DeMello, a Hawaii native who previously worked for Prudential Locations and later worked on the mainland.
DeMello is joined by Matt Smith and Danny Fernandez as associate agents.
Redfin, which was founded in 2006, does charge buyers and sellers a commission, though at discounted rates.
As a seller’s agent, Redfin charges 1.5 percent instead of 3 percent. As a buyer’s agent, Redfin collects 3 percent, of which it typically passes a little over 0.5 percent to the buyer.
The company said a buyer purchasing a $650,000 home in Honolulu would save about $7,000 while a seller would save about $10,000.