Redfin (RDFN) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Redfin Corp
Entity Central Index Key	1,382,821
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		81,427,697

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 212,436,000	$ 64,030,000
Restricted cash	10,101,000	3,815,000
Short-term investments	1,258,000	1,749,000
Prepaid expenses	4,472,000	4,388,000
Accrued revenue, net of allowance for doubtful accounts of $150 and $147 at December 31, 2016 and September 30, 2017, respectively	13,336,000	10,625,000
Other current assets	5,623,000	8,781,000
Loans held for sale	726,000	0
Total current assets	247,952,000	93,388,000
Property and equipment, net	21,600,000	19,226,000
Intangible assets, net	3,416,000	3,782,000
Goodwill	9,186,000	9,186,000
Deferred offering costs	0	720,000
Other assets	6,931,000	7,175,000
Total assets:	289,085,000	133,477,000
Current liabilities:
Accounts payable	3,343,000	5,385,000
Accrued liabilities	30,202,000	22,253,000
Other payables	9,858,000	3,793,000
Loan facility	705,000	0
Current portion of deferred rent	1,104,000	1,512,000
Total current liabilities	45,212,000	32,943,000
Deferred rent, net of current portion	10,365,000	8,852,000
Total liabilities	55,577,000	41,795,000
Commitments and contingencies (Note 10)
Redeemable convertible preferred stock—par value $0.001 per share; As of December 31, 2016: 166,266,114 shares authorized; 55,422,002 issued and outstanding; and aggregate liquidation preference of $167,488. As of September 30, 2017: no shares authorized, issued, and outstanding.	0	655,416,000
Stockholders’ equity/(deficit):
Common stock—par value $0.001 per share; 290,081,638 and 500,000,000 shares authorized, respectively; 14,687,024 and 81,385,310 shares issued and outstanding, respectively	81,000	15,000
Preferred stock—par value $0.001 per share; As of December 31, 2016: no shares authorized, issued and outstanding. As of September 30, 2017: 10,000,000 shares authorized and no shares issued and outstanding.	0	0
Additional paid-in capital	360,631,000	0
Accumulated deficit	(127,204,000)	(563,749,000)
Total stockholders’ equity/(deficit)	233,508,000	(563,734,000)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity/(deficit):	$ 289,085,000	$ 133,477,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable, current	$ 147	$ 150
Redeemable convertible preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Redeemable convertible preferred stock, authorized (in shares)	0	166,266,114
Redeemable convertible preferred stock, issued (in shares)	0	55,422,002
Redeemable convertible preferred stock outstanding (in shares)	0	55,422,002
Aggregate liquidation preference	$ 0	$ 167,488
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	500,000,000	290,081,638
Common stock, issued (in shares)	81,385,310	14,687,024
Common stock, outstanding (in shares)	81,385,310	14,687,024
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	10,000,000	0
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenue	$ 109,479	$ 81,064	$ 274,282	$ 200,414
Cost of revenue	70,166	50,147	191,633	138,955
Gross profit	39,313	30,917	82,649	61,459
Operating expenses:
Technology and development	11,483	9,781	31,245	25,739
Marketing	5,588	5,436	26,179	23,133
General and administrative	11,995	10,037	38,828	29,948
Total operating expenses	29,066	25,254	96,252	78,820
Income (loss) from operations	10,247	5,663	(13,603)	(17,361)
Interest income and other income, net:
Interest income	311	37	387	133
Other income, net	0	0	13	37
Total interest income and other income, net	311	37	400	170
Net income (loss)	10,558	5,700	(13,203)	(17,191)
Accretion of redeemable convertible preferred stock	(40,224)	(3,050)	(175,915)	56,819
Undistributed earnings attributable to participating securities	0	(2,105)	0	(31,483)
Net income (loss) attributable to common stock—basic	(29,666)	545	(189,118)	8,145
Net income (loss) attributable to common stock—diluted	$ (29,666)	$ 545	$ (189,118)	$ (17,191)
Net income (loss) per share attributable to common stock - basic (in dollars per share)	$ (0.50)	$ 0.04	$ (6.37)	$ 0.57
Net income (loss) per share attributable to common stock - diluted (in dollars per share)	$ (0.50)	$ 0.03	$ (6.37)	$ (0.25)
Weighted average shares used to compute net income (loss) per share attributable to common stock - basic	58,868,903	14,441,246	29,678,082	14,339,820
Weighted average shares used to compute net income (loss) per share attributable to common stock - diluted	58,868,903	17,855,205	29,678,082	69,761,822

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities
Net income (loss)	$ (13,203)	$ (17,191)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	5,326	4,532
Stock-based compensation	8,028	5,890
Change in assets and liabilities:
Restricted cash	(6,286)	(3,371)
Prepaid expenses	(84)	2,755
Accrued revenue	(2,712)	(5,423)
Other current assets	3,157	(1,838)
Other long-term assets	244	(5,953)
Accounts payable	1,227	1,858
Accrued expenses	8,513	7,086
Other payables	6,065	3,362
Deferred lease liability	1,001	1,770
Origination of loans held for sale	(5,755)	0
Proceeds from sale of loans originated as held for sale	5,030	0
Net cash provided by (used in) operating activities	10,551	(6,523)
Investing activities
Maturities and sales of short-term investments	1,484	1,744
Purchases of short-term investments	(993)	(1,744)
Purchases of property and equipment	(10,499)	(5,116)
Net cash used in investing activities	(10,008)	(5,116)
Financing activities
Proceeds from exercise of stock options	2,519	1,069
Payment of initial public offering costs	(3,449)	0
Proceeds from initial public offering, net of underwriting discounts	148,088	0
Borrowings from warehouse credit facilities	5,603	0
Repayments of warehouse credit facilities	(4,898)	0
Net cash provided by financing activities	147,863	1,069
Net change in cash and cash equivalents	148,406	(10,570)
Cash and cash equivalents:
Beginning of period	64,030	85,597
End of period	212,436	75,027
Supplemental disclosure of non-cash investing and financing activities
Accretion of redeemable convertible preferred stock	(175,915)	56,819
Stock-based compensation capitalized in property and equipment	(194)	(57)
Initial public offering cost accruals	(200)	0
Leasehold improvements paid directly by lessor	$ (104)	$ 0

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders' Equity/(Deficit) Statement - USD ($)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Redeemable convertible preferred stock beginning balance (in shares) at Dec. 31, 2015	55,422,002
Redeemable convertible preferred stock beginning balance at Dec. 31, 2015	$ 599,915,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Accretion of redeemable convertible preferred stock	$ 55,501,000
Redeemable convertible preferred stock ending balance (in shares) at Dec. 31, 2016	55,422,002
Redeemable convertible preferred stock ending balance at Dec. 31, 2016	$ 655,416,000
Common stock, outstanding, beginning balance (in shares) at Dec. 31, 2015		14,059,601
Total stockholders' deficit, beginning balance at Dec. 31, 2015	(495,713,000)	$ 14,000	$ 0	$ (495,727,000)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		627,423
Exercise of stock options	1,495,000	$ 1,000	1,494,000
Stock-based compensation	8,512,000		8,512,000
Accretion of redeemable convertible preferred stock	(55,502,000)		(10,006,000)	(45,496,000)
Net income (loss)	$ (22,526,000)			(22,526,000)
Common stock, outstanding, ending balance (in shares) at Dec. 31, 2016	14,687,024	14,687,024
Total stockholders' deficit, ending balance at Dec. 31, 2016	$ (563,734,000)	$ 15,000	0	(563,749,000)
Increase (Decrease) in Stockholders' Equity
Cumulative stock-based compensation adjustment (see Note 1)	0		522,000	(522,000)
Accretion of redeemable convertible preferred stock	$ 175,915,000
Conversion of redeemable convertible preferred stock to common stock (in shares)	(55,422,002)
Conversion of redeemable convertible preferred stock to common stock	$ (831,331,000)
Redeemable convertible preferred stock ending balance (in shares) at Sep. 30, 2017	0
Redeemable convertible preferred stock ending balance at Sep. 30, 2017	$ 0
Increase (Decrease) in Stockholders' Equity
Proceeds from initial public offering, net of underwriters' discounts (in shares)		10,615,650
Proceeds from initial public offering, net of underwriters' discounts of $11,146	148,088,000	$ 10,000	148,078,000
Underwriters' discounts	11,146,000
Initial public offering costs	$ (3,799,000)		(3,799,000)
Exercise of stock options (in shares)	660,634	660,634
Exercise of stock options	$ 2,519,000	$ 1,000	2,518,000
Stock-based compensation	8,222,000		8,222,000
Accretion of redeemable convertible preferred stock	(175,915,000)		(8,690,000)	(167,225,000)
Conversion of redeemable convertible preferred stock to common stock (in shares)		55,422,002
Conversion of redeemable convertible preferred stock to common stock	831,330,000	$ 55,000	213,780,000	617,494,842
Net income (loss)	$ (13,203,000)
Common stock, outstanding, ending balance (in shares) at Sep. 30, 2017	81,385,310	81,385,310
Total stockholders' deficit, ending balance at Sep. 30, 2017	$ 233,508,000	$ 81,000	$ 360,631,000	$ (127,204,000)

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies: Description of Business —Redfin Corporation (“Redfin” or the “Company”) was incorporated in October 2002 and is headquartered in Seattle, Washington. The Company operates an online real estate marketplace and provides real estate services, including assisting individuals to purchase or sell their residential property. The Company’s wholly owned subsidiaries also provide title and settlement services and originate mortgages. The Company has operations located in multiple states nationwide. Initial Public Offering — On August 2, 2017, the Company completed an initial public offering, or IPO, whereby 10,615,650 shares of common stock were sold at a price of $15.00 per share, which included 1,384,650 shares pursuant to the underwriters' option to purchase additional shares. The Company received net proceeds of $144,289 after deducting the underwriting discount, and offering expenses directly attributable to the IPO. Upon the closing of the IPO, all shares of the outstanding redeemable convertible preferred stock automatically converted into 55,422,002 shares of common stock on a one -for-one basis. Initial Public Offering Costs —Aggregate offering expenses of $3,799 , consisting of legal, accounting and other fees and costs relating to the IPO, were reclassified to additional paid-in capital as a reduction of the proceeds upon the closing of the IPO on August 2, 2017. Basis of Presentation —The condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain information and disclosures normally included in consolidated financial statements presented in accordance with GAAP have been condensed or omitted. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes for the year ended December 31, 2016 included in our final prospectus dated July 28, 2017, filed with the SEC on July 28, 2017 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended ("Prospectus"). The Company had no components of other comprehensive income (loss) during any of the years presented, as such, a consolidated statement of comprehensive income (loss) is not presented. All amounts are presented in thousands, except share and per share data. The unaudited condensed consolidated interim financial statements, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly our financial position as of September 30, 2017, our results of operations for the three and nine month periods ended September 30, 2016 and 2017, and our cash flows for the nine month periods ended September 30, 2016 and 2017. The results of the three and nine month periods ended September 30, 2017 are not necessarily indicative of the results to be expected for the year ending December 31, 2017 or for any interim period or for any other future year. Principles of Consolidation —The unaudited condensed consolidated interim financial statements include the accounts of Redfin and its wholly owned subsidiaries. Intercompany transactions and balances have been eliminated. Certain Significant Risks and Business Uncertainties —The Company is subject to the risks and challenges associated with companies at a similar stage of development. These include dependence on key individuals, successful development and marketing of its offerings, and competition with larger companies with greater financial, technical, and marketing resources. The Company operates in the online real estate marketplace and, accordingly, can be affected by a variety of factors. For example, management of the Company believes that any of the following factors could have a significant negative effect on the Company’s future financial position, results of operations, and cash flows: unanticipated fluctuations in operating results due to seasonality and cyclicality in the real estate industry, changes in home sale prices and transaction volumes, the Company’s ability to increase market share, competition and U.S. economic conditions. Reverse Stock Split —On July 8, 2017, the Company’s board of directors approved an amendment to the Company's certificate of incorporation to effect a reverse split of shares of the issued and outstanding common stock and redeemable convertible preferred stock at a 3 -to-1 ratio. The reverse stock split was approved by the Company’s stockholders and effected on July 10, 2017. The par value and shares authorized of the common stock and the par value and shares authorized of the redeemable convertible preferred stock were not adjusted as a result of the reverse stock split. All issued and outstanding shares of common stock and redeemable convertible preferred stock, dividend rates, conversion rates, options to purchase common stock, exercise prices, and the related per-share amounts contained in these consolidated financial statements have been retroactively adjusted to reflect this reverse stock split for all periods presented. Use of Estimates —The preparation of the unaudited condensed consolidated interim financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and results of operations during the respective periods. Management’s more significant estimates include, but are not limited to, valuation of deferred income taxes, stock-based compensation, fair value of common stock and redeemable convertible preferred stock, capitalization of website development costs, recoverability of intangible assets with finite lives, and the fair value of reporting units for purposes of evaluating goodwill for impairment. Management bases its estimates on historical experience, and on various other market-specific relevant assumptions that management believes to be reasonable, under the circumstances. The amounts ultimately realized from the affected assets or ultimately recognized as liabilities will depend on, among other factors, general business conditions and could differ materially in the near term from the carrying amounts reflected in the consolidated financial statements. Significant Accounting Policies —There have been no material changes to our significant accounting policies and estimates during the nine months ended September 30, 2017, from the significant accounting policies described in the Prospectus. Other Current Assets —In April 2017, the Company received $8,470 from the landlord of the Company's new corporate headquarters for reimbursable leasehold improvement costs. The Company had previously recorded a receivable for this amount. The receipt of reimbursable leasehold improvements is classified as an inflow of cash in the operating section in the Company's condensed consolidated statement of cash flows for the nine months ended September 30, 2017. Additionally, in January 2017, RDFN Ventures, Inc. (“Redfin Now”), a wholly owned subsidiary of the Company, began purchasing properties with the intent of resale. Direct property acquisition and improvement costs are capitalized and tracked directly with each specific property. These are stated at cost unless the utility of the properties is no longer as great as their cost, in which case it is written down to “market”. As of December 31, 2016 and September 30, 2017 there were $0 and $5,399 respectively, in home inventories included in other current assets. Of the $5,399 in home inventories at September 30, 2017, $2,658 were listed for sale and $2,741 were in process and being made ready for sale. As of September 30, 2017, all properties were carried at cost. Recently Adopted Accounting Pronouncements —In January 2017, the Financial Accounting Standard Board (“FASB”) issued guidance simplifying the test for goodwill impairment. Step 2 from the goodwill impairment test is no longer required, instead requiring an entity to recognize a goodwill impairment charge for the amount by which the goodwill carrying amount exceeds the reporting unit’s fair value. This guidance is effective for interim and annual goodwill impairment tests in fiscal years beginning after December 15, 2019, and early adoption is permitted. This guidance must be applied on a prospective basis. The Company adopted this guidance for interim and annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company performs its goodwill assessment annually on October 1 of each year or as events merit. The Company does not expect the adoption of this guidance to impact the Company’s financial position, results of operations or cash flows. In March 2016, the FASB issued guidance on several aspects of the accounting for share-based payment transactions, including the income tax consequences, impact of forfeitures, classification of awards as either equity or liabilities and classification on the statement of cash flows. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016, and early adoption is permitted. The Company adopted this guidance on January 1, 2017 using the modified retrospective approach through a cumulative-effect adjustment of $552 to beginning accumulated deficit, and the Company elected to account for forfeitures as they occur beginning on January 1, 2017. The adoption of this guidance did not have a material impact on the Company’s financial position, results of operations or cash flows. In November 2015, the FASB issued guidance on the balance sheet classification of deferred taxes. This standard requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016, and early adoption is permitted. The Company has prospectively adopted this guidance as of January 1, 2016. The adoption of this guidance had no effect on the Company’s financial position. Recently Issued Accounting Pronouncements —In November 2016, the FASB issued guidance on the classification and presentation of changes in restricted cash on the statement of cash flows. This guidance is effective for interim and annual reporting periods beginning after December 15, 2017, and early adoption is permitted. The adoption of this guidance requires a retrospective transition method to each period presented. The Company plans to adopt this guidance on October 1, 2017, using the early permitted period. Upon adoption, the Company will reclassify restricted cash from operating activities to the change in cash, cash equivalents and restricted cash. Additionally, other payables, related to cash held in escrow on behalf of customers, will be reclassified from operating activities to financing activities. In the Company’s capacity as fiduciary, the cash receipt is a function of providing the customer with a service (title). Therefore, the escrow funds payable are akin to a repayment of debt within financing activities, whereby the Company in it’s role as fiduciary is temporarily holding cash in its restricted accounts on behalf of it’s customers and subsequently releases the cash to settle the customers contractual obligation. These reclassifications will maintain an accurate reflection of the Company's cash flows from operating activities. In August 2016, the FASB issued guidance on the classification of certain cash receipts and cash payments in the statement of cash flows. This new standard will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. The new standard is effective for fiscal years beginning after December 15, 2017, which means that it will be effective for the Company in its fiscal year beginning January 1, 2018. The new standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case the Company would be required to apply the amendments prospectively as of the earliest date practicable. The adoption of this standard is not expected to have a material impact on the Company’s statement of cash flows. In February 2016, the FASB issued guidance on leases. This standard requires the recognition of a right-of-use asset and lease liability on the balance sheet for all leases. This standard also requires more detailed disclosures to enable users of financial statements to understand the amount, timing, and uncertainty of cash flows arising from leases. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018, and should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, and early adoption is permitted. The Company expects to adopt this guidance on January 1, 2019. The Company is currently evaluating the effect of the adoption of this guidance, and believes that it will have a significant effect on its financial position. In May 2014, the FASB issued guidance on revenue recognition. This guidance provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance also requires more detailed disclosures to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company will adopt this guidance on January 1, 2018, using the modified retrospective adoption methodology. Both real estate and other revenue contain single performance obligations and the Company believes the timing of the satisfaction of the performance obligations, triggering the recognition of revenue, will not differ from the Company's current timing for recognizing revenue. The assessment of the policy changes and quantitative and qualitative impacts is substantially complete and as the Company believes the amounts and timing of real estate and other revenue will not change, the Company does not expect to recognize a cumulative adjustment to retained earnings upon adoption.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, short-term investments, accrued revenue, restricted cash, accounts payable, certain accrued liabilities, and redeemable convertible preferred stock. The fair value of the Company’s financial instruments approximates their recorded values due to their short period to maturity. Fair value is defined as the exchange price that would be received for an asset or an exit price paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The current accounting guidance for fair value measurements defines a three-level valuation hierarchy for disclosures as follows: Level I —Unadjusted quoted prices in active markets for identical assets or liabilities. Level II —Inputs other than quoted prices included within Level I that are observable, unadjusted quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level III —Unobservable inputs that are supported by little or no market activity, requiring the Company to develop its own assumptions. The categorization of a financial instrument within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s financial instruments consist of Level I and Level II assets and liabilities. Level I assets include highly liquid money market funds that are included in cash and cash equivalents and Level II assets include certificates of deposit that are included as short-term investments, interest rate lock commitments ("IRLCs") and forward sales commitments, included in other current assets and other current liabilities. The certificates of deposit are measured by observable market data for substantially the full term of the assets or liabilities. Interest rate lock commitments and forward sales commitments are measured by observable marketplace prices. The Company’s redeemable convertible preferred stock was categorized as Level III. Redeemable convertible preferred stock was valued at each reporting date, through March 31, 2017, based on unobservable inputs and management’s judgment due to the absence of quoted market prices, inherent lack of liquidity and the long-term nature of such financial instruments. For further description of the valuation methodology of the redeemable convertible preferred stock, please see Note 2 to the Company's consolidated financial statements in the Prospectus. Changes in the fair value of redeemable convertible preferred stock were recognized as accretion expense (income) and included as an adjustment to net loss to arrive at net income (loss) attributable to common stock on the condensed consolidated statements of operations. Summary of changes in fair value are reflected in the condensed consolidated balance sheets, condensed consolidated statements of changes in redeemable convertible preferred stock and stockholders' deficit, and Note 6. The Company used the value of the common stock at the IPO price of $15.00 per share to determine the accretion amount for the three months ended September 30, 2017. Significant unobservable inputs used in the determination of fair value of the Company’s redeemable convertible preferred stock, when outstanding, included the following: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Valuation methodology: Income approach (private company) 15.0% N/A 15.0% 12.5% Market approach (private company) 15.0% N/A 15.0% 12.5% PWERM (IPO) 52.5% N/A 52.5% 60.0% PWERM (M&A) 17.5% N/A 17.5% 15.0% IPO revenue multiple 3.25x-3.5x N/A 3.0x-4.5x 2.8x-3.0x Forecasted revenue growth rate 28.0%-40.0% N/A 28.0%-40.9% 31.1%-40.0% Discount rate 20.0%-25.0% N/A 20.0%-25.0% 20.0% A summary of assets, liabilities, and mezzanine equity at December 31, 2016 and September 30, 2017, related to our financial instruments, measured at fair value on a recurring basis, is set forth below: Fair Value Financial Instrument Fair Value Hierarchy December 31, September 30, 2016 2017 Money market funds (included in cash and cash equivalents) Level I 46,357 191,738 Certificates of deposit (included in short-term investments) Level II 1,749 1,258 Interest rate lock commitments Level II — 6 Forward loan commitments Level II — (2 ) Redeemable convertible preferred stock (mezzanine equity) Level III (655,416 ) —

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment: A summary of property and equipment at December 31, 2016 and September 30, 2017 is as follows: December 31, September 30, Useful Lives 2016 2017 (years) Leasehold improvements Shorter of lease term or economic life $4,911 $15,369 Website and software development costs 1-3 10,114 13,301 Computer and office equipment 3 2,846 2,862 Software 3 1,367 1,235 Furniture 7 2,406 2,862 Construction in progress 10,856 — 32,500 35,629 Accumulated depreciation and amortization (13,274) (14,029) Property and equipment, net $19,226 $21,600 Depreciation and amortization expense for property and equipment amounted to $1,475 and $1,665 for the three months ended September 30, 2016 and 2017 , respectively, and $4,166 and $4,960 for the nine months ended September 30, 2016 and 2017 , respectively.

Acquired Intangible Assets

Acquired Intangible Assets	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired Intangible Assets	Acquired Intangible Assets: The following table presents details of the Company's intangible assets subject to amortization as of the dates presented: As of December 31, 2016 As of September 30, 2017 Useful Gross Accumulated Amortization Net Gross Accumulated Amortization Net Trade Names 10 $ 1,040 $ (234 ) $ 806 $ 1,040 $ (312 ) $ 728 Developed technology 10 2,980 (670 ) 2,310 2,980 (894 ) 2,086 Customer relationships 10 860 (194 ) 666 860 (258 ) 602 $ 4,880 $ (1,098 ) $ 3,782 $ 4,880 $ (1,464 ) $ 3,416 Acquired intangible assets are amortized using the straight-line method over their estimated useful life, which approximates the expected use of these assets. Amortization expense amounted to $122 for the three months ended September 30, 2016 and 2017, and $366 for the nine months ended September 30, 2016 and 2017. Amortization expense of $2,440 will be recognized over the next five years, or $488 per year.

Operating Segments

Operating Segments	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Operating Segments	Operating Segments: Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to make operating decisions, allocate resources and in assessing performance. The Company has five operating segments and one reportable segment, real estate. Real estate revenue is derived from commissions and fees charged on real estate transactions closed by us or partner agents. Other revenue consists of fees charged for title and settlement services, mortgage banking operations, marketing services provided to homebuilders by the Company’s builder services group, Walk Score licensing and advertising fees, homes sold through Redfin Now, and other services. The Company’s CODM is its Chief Executive Officer. The CODM evaluates the performance of the Company’s operating segments based on revenue and gross profit. The Company does not analyze discrete segment balance sheet information related to long-term assets, all of which are located in the United States. All other financial information is presented on a consolidated basis. Information on each of the reportable and other segments and reconciliation to consolidated net income (loss) is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Real estate Revenue $ 79,198 $ 103,864 $ 195,203 $ 262,894 Cost of revenue 47,966 64,258 132,990 178,850 Gross profit $ 31,232 $ 39,606 $ 62,213 $ 84,044 Other Revenue $ 1,866 $ 5,615 $ 5,211 $ 11,388 Cost of revenue 2,181 5,908 5,965 12,783 Gross profit $ (315 ) $ (293 ) $ (754 ) $ (1,395 ) Consolidated Revenue $ 81,064 $ 109,479 $ 200,414 $ 274,282 Cost of revenue 50,147 70,166 138,955 191,633 Gross profit $ 30,917 $ 39,313 $ 61,459 $ 82,649 Operating expenses 25,254 29,066 78,820 96,252 Net income (loss) $ 5,700 $ 10,558 $ (17,191 ) $ (13,203 ) Real estate revenue consisted of the following: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Real estate revenue Brokerage revenue $ 74,052 $ 97,787 $ 183,440 $ 247,327 Partner revenue 5,146 6,077 11,763 15,567 Total real estate revenue $ 79,198 $ 103,864 $ 195,203 $ 262,894

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock and Stockholders' Equity/(Deficit)	9 Months Ended
	Sep. 30, 2017
Temporary Equity And Stockholder's Equity [Abstract]
Redeemable Convertible Preferred Stock and Stockholders' Equity/(Deficit)	Redeemable Convertible Preferred Stock and Stockholders’ Equity/(Deficit): Redeemable Convertible Preferred Stock —The Company's redeemable convertible preferred stock automatically converted into common stock at a rate of one -for-one on the closing of the Company's IPO on August 2, 2017. As such, no shares of redeemable convertible preferred stock were authorized, issued and outstanding as of September 30, 2017. As of December 31, 2016 the Company had outstanding redeemable convertible preferred stock as follows: As of December 31, 2016 Shares Authorized Shares Issued and Outstanding Aggregate Liquidation Preference Proceeds, Net of Issuance Costs Series A-1 4,378,284 1,459,427 $ 500,000 $ 462,000 Series A-2 109,552 36,517 11,000 11,000 Series A-3 9,099,610 3,033,202 259,000 241,000 Series B 36,338,577 12,112,853 7,998,000 7,952,000 Series C 33,388,982 11,129,656 12,000,000 11,950,000 Series D 28,574,005 9,524,665 10,269,000 10,201,000 Series E 12,041,148 4,013,712 14,924,000 14,841,000 Series F 20,808,580 6,936,186 50,536,000 50,453,000 Series G 21,527,376 7,175,784 70,991,000 68,062,000 Total 166,266,114 55,422,002 $ 167,488,000 $ 164,173,000 Please see Note 6 to the Company's consolidated financial statements in the Prospectus for a description of the terms of the redeemable convertible preferred stock. Accretion Income/(Expense) —Accretion represents the (increase) or decrease in the redemption value of the Company’s redeemable convertible preferred stock. For the nine months ended September 30, 2016, the fair value of the redeemable convertible preferred stock declined, resulting in accretion income. The recognized accretion related to the increase or decrease in the redemption value of the redeemable convertible preferred stock was reclassed upon the successful completion of the IPO, which occurred during the period ended September 30, 2017. The following table presents the accretion income/(expense) of the redeemable convertible preferred stock to its redemption value recorded within the consolidated statements of changes in redeemable convertible preferred stock and stockholders’ equity/(deficit) during the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Series A-1 $ (88 ) $ (1,119 ) $ 1,448 $ (4,904 ) Series A-2 (2 ) (28 ) 36 (123 ) Series A-3 (182 ) (2,349 ) 3,010 (10,192 ) Series B (1,090 ) (9,284 ) 12,021 (40,336 ) Series C (668 ) (8,530 ) 11,039 (37,062 ) Series D (571 ) (7,300 ) 9,447 (31,717 ) Series E (241 ) (2,948 ) 4,102 (12,884 ) Series F (208 ) (4,541 ) 7,084 (20,184 ) Series G — (4,125 ) 8,632 (18,513 ) Total $ (3,050 ) $ (40,224 ) $ 56,819 $ (175,915 ) Common Stock —At December 31, 2016 and September 30, 2017 , the Company was authorized to issue 290,081,638 and 500,000,000 shares, respectively, of common stock with a par value of $0.001 per share. The Company has reserved shares of common stock, on an as-converted basis, for future issuance as follows: December 31, September 30, 2016 2017 Redeemable convertible preferred stock outstanding 55,422,002 — Stock options issued and outstanding 13,291,684 13,298,339 Shares available for future equity grants 4,941,504 7,974,192 Total 73,655,190 21,272,531 Preferred Stock — As of September 30, 2017, the Company had authorized 10,000,000 shares of preferred stock, par value $0.001 , of which no shares were outstanding.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-based Compensation: 2017 Employee Stock Purchase Plan —The Company’s 2017 Employee Stock Purchase Plan (“2017 ESPP”) became effective on July 27, 2017 and enables eligible employees to purchase shares of the Company’s common stock at a discount. Purchases will be accomplished through participation in discrete offering periods. The Company initially reserved 1,600,000 shares of common stock for issuance under the 2017 ESPP. The number of shares reserved for issuance under the 2017 ESPP will increase automatically on January 1 of each calendar year beginning after the first offering date and continuing through the first ten calendar years by the number of shares equal to the lesser of 1% of the total outstanding shares of the Company’s common stock as of the immediately preceding December 31 or an amount determined by the board of directors. The 2017 ESPP will not become effective until such time as the board of directors or Compensation Committee determines in the future, and as of September 30, 2017, the initial offering period had not commenced. 2004 Equity Incentive Plan — The Company granted options under its 2004 equity incentive plan, as amended, ("2004 Plan"), until July 26, 2017, when the plan was terminated in connection with the Company’s IPO. Accordingly, no shares are available for future issuance under this plan. The 2004 Plan continues to govern outstanding equity awards granted thereunder. 2017 Equity Incentive Plan —The Company's 2017 Equity Incentive Plan ("2017 EIP") became effective on July 26, 2017, and provides for the issuance of incentive and nonqualified common stock options and restricted stock units to employees, directors, officers, and consultants of the Company. The 2017 EIP provides automatic annual increases in the number of shares available for issuance on the first day of each fiscal year for a period of 10 years beginning in 2018. The term of each option grant shall be no more than 10 years. As of September 30, 2017 the Company had not issued any options to purchase common stock or restricted stock units under the 2017 EIP. The grant-date fair value of each option award is estimated on the date of grant using the Black-Scholes-Merton option-pricing model. The inputs used below are subjective and generally require significant analysis and judgment to develop. The Company has not declared or paid any cash dividends and does not currently expect to do so in the future. The risk-free interest rate used in the Black-Scholes-Merton option-pricing model is based on the implied yield currently available in U.S. Treasury securities at maturity with an equivalent term. Expected volatility is based on an average volatility of stock prices for a group of real estate and technology industry peers. The Company uses the “simplified method” to calculate expected life due to the lack of historical exercise data, which assumes a ratable rate of exercise over the contractual life to estimate the expected term for employee options. The expected term of options represents the period that the stock-based awards are expected to be outstanding for the remaining unexercised shares. The Company accounts for forfeitures as they occur. The Company did not issue any stock options during the three months ended September 30, 2017. The range of assumptions for the three and nine months ended September 30, 2016 and 2017, are provided in the following table: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Expected life 7 years N/A 7 years 7 years Volatility 38.88%-38.90% N/A 38.88%-41.36% 37.88%-40.97% Risk-free interest rate 1.39%-1.41% N/A 1.39%-1.66% 1.96%-2.26% Dividend yield —% N/A —% —% Weighted-average grant date fair value 3.43 N/A 3.75 4.86 The following table presents information regarding options granted, exercised, forfeited, or cancelled for the periods presented: Weighted- Average Exercise Price Weighted-Average Remaining Contractual Life (years) Outstanding at December 31, 2016 13,291,684 $ 5.85 7.74 $ 61,774 Options granted 1,137,046 10.78 Options exercised (660,634) 3.81 14,058 Options forfeited or canceled (469,757) 7.87 Outstanding at September 30, 2017 13,298,339 6.30 7.27 249,825 Options exercisable at September 30, 2017 8,151,136 $ 4.69 6.34 $ 166,304 The following table presents detail of stock-based compensation amounts included in the Company’s condensed consolidated statements of operations for the periods indicated below: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Cost of revenue $ 546 $ 715 $ 1,589 $ 2,129 Technology and development 555 819 1,653 2,301 Marketing 114 121 336 362 General and administrative 940 1,054 2,312 3,236 Total stock-based compensation $ 2,155 $ 2,709 $ 5,890 $ 8,028 There was $20,977 of total unrecognized stock-based compensation related to unvested stock option arrangements granted under the 2004 Plan as of September 30, 2017.

Net Income (Loss) per Share Att

Net Income (Loss) per Share Attributable to Common Stock	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Net Income (Loss) per Share Attributable to Common Stock	Net Income (Loss) per Share Attributable to Common Stock: Net income (loss) per share attributable to common stock is computed by dividing the net income (loss) attributable to common stock by the weighted-average number of common shares outstanding. The Company has outstanding stock options and redeemable convertible preferred stock, which are included in the calculation of diluted net income (loss) attributable to common stock per share whenever doing so would be dilutive. The Company calculates basic and diluted net income (loss) per share attributable to common stock in conformity with the two-class method required for companies with participating securities. The Company considers all series of redeemable convertible preferred stock to be participating securities. Under the two-class method, net loss attributable to common stock is not allocated to the redeemable convertible preferred stock as the holders of redeemable convertible preferred stock do not have a contractual obligation to share in losses. Diluted net income (loss) per share attributable to common stock is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, redeemable convertible preferred stock are considered anti-dilutive securities for all periods ended September 30, 2017 and for the three months ended September 30, 2016. For the nine month period ended September 30, 2016 the inclusion of the Company's redeemable convertible preferred stock was dilutive. For the nine month period ended September 30, 2016 the fair value of the redeemable convertible preferred stock declined, resulting in accretion income. The if-converted method of calculating earnings per share resulted in undistributed earnings attributable to participating securities, and conversion of redeemable convertible preferred stock occurring at the beginning of the period. The undistributed earnings attributable to participating securities do not represent a distribution to existing stockholders' paid out of offering proceeds. Options were excluded in the calculation of weighted average shares used to compute diluted income (loss) for all periods presented except the three month period ended September 30, 2016. The following table sets forth the calculation of basic and diluted net income (loss) per share attributable to common stock during the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Numerator: Net income (loss) $ 5,700 $ 10,558 $ (17,191 ) $ (13,203 ) Accretion of redeemable convertible preferred stock (3,050 ) (40,224 ) 56,819 (175,915 ) Undistributed earnings attributable to participating securities (2,105 ) — (31,483 ) — Net income (loss) attributable to common stock—basic 545 (29,666 ) 8,145 (189,118 ) Net income (loss) attributable to common stock—diluted 545 (29,666 ) (17,191 ) (1) (189,118 ) Denominator: Weighted average shares used to compute net income (loss) per share attributable to common stock—basic 14,441,246 58,868,903 14,339,820 29,678,082 Weighted average shares used to compute net income (loss) per share attributable to common stock—diluted 17,855,205 58,868,903 69,761,822 29,678,082 Net income (loss) per share attributable to common stock—basic $ 0.04 $ (0.50 ) $ 0.57 $ (6.37 ) Net income (loss) per share attributable to common stock—diluted $ 0.03 $ (0.50 ) $ (0.25 ) $ (6.37 ) (1) A reconciliation of net income (loss) attributable to common stock—basic to net income (loss) attributable to common stock—diluted is as follows: Net income (loss) attributable to common stock—basic $ 8,145 Add-back: Accretion due to application of if-converted (56,819 ) Add-back: Undistributed earnings attributable to participating securities due to application of if-converted 31,483 Net income (loss) attributable to common stock—diluted $ (17,191 ) The following outstanding shares of common stock equivalents were excluded from the computation of the diluted net income (loss) per share attributable to common stock for the periods presented because their effect would have been anti-dilutive. For the three and nine months ended September 30, 2017 the redeemable convertible preferred stock were anti-dilutive, but converted to common stock on a one -for-one basis on August 2, 2017 upon the successful completion of the IPO, and as such were included in the weighted average shares outstanding for the period they were outstanding as shares of common stock. Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Redeemable convertible preferred stock 55,422,002 55,422,002 — 55,422,002 Options outstanding 4,117,639 13,298,339 12,679,454 13,298,339 Total 59,539,641 68,720,341 12,679,454 68,720,341

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes: The Company’s effective tax rate for the three and nine-month periods ended September 30, 2016 and 2017 was 0% as a result of the Company recording a full valuation allowance against the deferred tax assets. In determining the realizability of the net U.S. federal and state deferred tax assets, the Company considers numerous factors including historical profitability, estimated future taxable income, prudent and feasible tax planning strategies and the industry in which it operates. Management reassesses the realization of the deferred tax assets each reporting period, which resulted in a valuation allowance against the full amount of the Company’s U.S. deferred tax assets for the three- and nine-month periods ended September 30, 2016 and 2017. To the extent that the financial results of the U.S. operations improve in the future and the deferred tax assets become realizable, the Company will reduce the valuation allowance through earnings. Under Section 382 of the Internal Revenue Code of 1986, as amended, substantial changes in the Company's ownership may limit the amount of net operating loss carryforwards that could be utilized annually in the future to offset taxable income. Any such annual limitation may significantly reduce the utilization of the net operating losses before they expire. A Section 382 limitation study performed as of March 31, 2017 determined there was an ownership change in 2006 and $1,538 of the 2006 net operating loss is unavailable. Net operating loss carryforwards are available to offset federal taxable income and begin to expire in 2025. As of December 31, 2016 the Company has accumulated approximately $84,973 of federal tax losses. The Company’s material income tax jurisdiction is the United States (federal). As a result of net operating loss carryforwards, the Company is subject to audit for tax years 2005 and forward for federal purposes. There are tax years which remain subject to examination in various other jurisdictions that are not material to the Company’s financial statements.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies: Legal Proceedings —Third-party licensed sales associates filed three lawsuits against the Company in 2013 and 2014. Two of the actions, which are pled as “class actions,” were removed to and are now pending in the Northern District of California. One of these cases also includes representative claims under California’s Private Attorney General Act, Labor Code section 2698 et. seq (“PAGA”). The third action is pending in the Los Angeles County Superior Court and asserts representative claims under PAGA. All three complaints alleged that the Company had misclassified current and former third-party licensed sales associates in California as independent contractors and generally seek compensation for unpaid wages, overtime, and failure to provide meal and rest periods, as well as reimbursement of business expenses. In June 2017, the Company entered into a definitive agreement to settle the lawsuits. The Company has recorded an accrual for $1,800 as of December 31, 2016 and September 30, 2017. The settlement agreement does not contain any admission of liability, wrongdoing, or responsibility by any of the parties. The proposed settlement class contemplated by the agreement includes all current and former third party licensed sales associates engaged by the Company in California from January 16, 2009, through April 29, 2017. This settlement agreement is subject to court approval. As with all class action and representative litigation, these cases are inherently complex and subject to many uncertainties. In the event the settlement is not approved, the actions may continue and a class may be certified. If that happens, there can be no assurance the plaintiffs will not seek substantial damage awards, penalties, attorneys’ fees, or other remedies. The Company believes it has complied with all applicable laws and regulations and that it properly classified the third-party licensed sales associates as independent contractors. In addition, from time to time, the Company is involved in litigation, claims and other proceedings arising in the ordinary course of business. Such litigation and other proceedings may include, but are not limited to, actions relating to employment law, intellectual property, the Real Estate Settlement Procedures Act of 1974, the Fair Housing Act of 1968, or other consumer protection statute claims, commercial or contractual arrangements, brokerage- or real estate related-disputes, ordinary- course brokerage disputes like the failure to disclose property defects, and vicarious liability based upon conduct of individuals or entities outside of the Company’s control, including partner agents and third-party contractor agents. Litigation and other disputes are inherently unpredictable and subject to substantial uncertainties and unfavorable resolutions could occur. Often these cases raise complex factual and legal issues, which are subject to risks and uncertainties and could require significant management time and resources. Facility Leases and Other Commitments —The Company leases its office space under noncancelable operating leases with terms ranging from one to 11 years. Generally, the leases require a fixed minimum rent with contractual minimum rent increases over the lease term, and certain leases include escalation provisions. Rent expense totaled $1,798 and $1,705 for the three months ended September 30, 2016 and 2017, respectively, and $4,022 and $6,030 for the nine months ended September 30, 2016 and 2017, respectively. Other commitments primarily relate to network infrastructure for the Company’s data operations and commitments for the Company’s annual employee meeting. Also included are homes that the Company is under contract to purchase through Redfin Now but that have not closed. Future minimum payments due under these agreements as of December 31, 2016 and September 30, 2017 are as follows: Facility Leases Other Commitments December 31, September 30, December 31, September 30, 2016 2017 2016 2017 2017 $ 4,803 $ 1,793 $ 2,123 $ 2,504 2018 6,227 7,592 848 642 2019 6,652 8,102 — — 2020 5,563 7,183 — — 2021 and thereafter 32,262 35,193 — — Total minimum lease payments $ 55,507 $ 59,863 $ 2,971 $ 3,146 Mortgage Warehouse and Master Repurchase Agreements — In December 2016, Redfin Mortgage entered into a Mortgage Warehouse Agreement with Texas Capital Bank, National Association (“Texas Capital”) and in June 2017 Redfin Mortgage entered into a Master Repurchase Agreement with Western Alliance Bank. Pursuant to the Mortgage Warehouse Agreement and Master Repurchase Agreement, Texas Capital and Western Alliance Bank both agree to fund loans originated by Redfin Mortgage, in its discretion, up to $10,000 each in the aggregate and to take a security interest in such loans. The per annum interest rate payable to Texas Capital is a fixed rate equal to the rate of interest accruing on the outstanding principal balance of the loan, minus 1.5% , or 3.0% , whichever is higher. The per annum interest rate payable to Western Alliance Bank is a fixed rate equal to the LIBOR rate plus 3.00% , or 3.75% , whichever is higher. For each loan in which Texas Capital elects to purchase a participation interest, it will acquire an undivided 97% participation interest, by paying as the purchase price an amount equal to the participation interest multiplied by the principal balance of the loan. For each loan in which Western Alliance Bank elects to purchase, it will acquire an undivided 98% participation interest, by paying as the purchase price an amount equal to the participation interest multiplied by the principal balance of the loan. If a loan is not sold to a correspondent lender, Texas Capital and Western Alliance Bank's participation interests in the loans are to be repurchased in whole or in part by Redfin Mortgage. The Company has guaranteed Redfin Mortgage’s obligations under the Mortgage Warehouse and Master Repurchase Agreements. The Mortgage Warehouse Agreement and Master Repurchase Agreements require each of the Company and Redfin Mortgage to maintain certain financial covenants and to provide periodic financial and compliance reports. Redfin Mortgage failed to satisfy certain financial covenants under both agreements as of September 30, 2017, but has not received a notice of default related to such failure from either Texas Capital or Western Alliance Bank. As of December 31, 2016 and September 30, 2017, there were $0 and $598 , respectively, outstanding under the Mortgage Warehouse Agreement and $107 drawn as of September 30, 2017 on the Master Repurchase Agreement.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities: The following table presents the detail of accrued liabilities as of the dates presented: December 31, September 30, 2016 2017 Accrued compensation and benefits $ 16,659 $ 22,380 Legal fees and settlements 2,795 2,205 Miscellaneous accrued liabilities 2,799 5,617 Total accrued liabilities: $ 22,253 $ 30,202

Retirement Plan

Retirement Plan	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Retirement Plan	Retirement Plan: The Company adopted a 401(k) profit sharing plan effective January 2005. The plan covers eligible employees as of their hire date. The 401(k) component of the plan allows employees to elect to defer from 1% to 100% of their eligible compensation up to the federal limit per year. Company- matching and profit-sharing contributions are discretionary and are determined annually by Company management and approved by the board of directors. No matching or profit-sharing contributions were declared for the three months ended September 30, 2016 and 2017 or for the nine months ended September 30, 2016 and 2017.

Description of Business and S19

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation —The condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain information and disclosures normally included in consolidated financial statements presented in accordance with GAAP have been condensed or omitted. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes for the year ended December 31, 2016 included in our final prospectus dated July 28, 2017, filed with the SEC on July 28, 2017 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended ("Prospectus"). The Company had no components of other comprehensive income (loss) during any of the years presented, as such, a consolidated statement of comprehensive income (loss) is not presented. All amounts are presented in thousands, except share and per share data.
Principles of Consolidation	Principles of Consolidation —The unaudited condensed consolidated interim financial statements include the accounts of Redfin and its wholly owned subsidiaries. Intercompany transactions and balances have been eliminated.
Use of Estimates	Use of Estimates —The preparation of the unaudited condensed consolidated interim financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and results of operations during the respective periods. Management’s more significant estimates include, but are not limited to, valuation of deferred income taxes, stock-based compensation, fair value of common stock and redeemable convertible preferred stock, capitalization of website development costs, recoverability of intangible assets with finite lives, and the fair value of reporting units for purposes of evaluating goodwill for impairment. Management bases its estimates on historical experience, and on various other market-specific relevant assumptions that management believes to be reasonable, under the circumstances. The amounts ultimately realized from the affected assets or ultimately recognized as liabilities will depend on, among other factors, general business conditions and could differ materially in the near term from the carrying amounts reflected in the consolidated financial statements.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements —In January 2017, the Financial Accounting Standard Board (“FASB”) issued guidance simplifying the test for goodwill impairment. Step 2 from the goodwill impairment test is no longer required, instead requiring an entity to recognize a goodwill impairment charge for the amount by which the goodwill carrying amount exceeds the reporting unit’s fair value. This guidance is effective for interim and annual goodwill impairment tests in fiscal years beginning after December 15, 2019, and early adoption is permitted. This guidance must be applied on a prospective basis. The Company adopted this guidance for interim and annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company performs its goodwill assessment annually on October 1 of each year or as events merit. The Company does not expect the adoption of this guidance to impact the Company’s financial position, results of operations or cash flows. In March 2016, the FASB issued guidance on several aspects of the accounting for share-based payment transactions, including the income tax consequences, impact of forfeitures, classification of awards as either equity or liabilities and classification on the statement of cash flows. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016, and early adoption is permitted. The Company adopted this guidance on January 1, 2017 using the modified retrospective approach through a cumulative-effect adjustment of $552 to beginning accumulated deficit, and the Company elected to account for forfeitures as they occur beginning on January 1, 2017. The adoption of this guidance did not have a material impact on the Company’s financial position, results of operations or cash flows. In November 2015, the FASB issued guidance on the balance sheet classification of deferred taxes. This standard requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016, and early adoption is permitted. The Company has prospectively adopted this guidance as of January 1, 2016. The adoption of this guidance had no effect on the Company’s financial position. Recently Issued Accounting Pronouncements —In November 2016, the FASB issued guidance on the classification and presentation of changes in restricted cash on the statement of cash flows. This guidance is effective for interim and annual reporting periods beginning after December 15, 2017, and early adoption is permitted. The adoption of this guidance requires a retrospective transition method to each period presented. The Company plans to adopt this guidance on October 1, 2017, using the early permitted period. Upon adoption, the Company will reclassify restricted cash from operating activities to the change in cash, cash equivalents and restricted cash. Additionally, other payables, related to cash held in escrow on behalf of customers, will be reclassified from operating activities to financing activities. In the Company’s capacity as fiduciary, the cash receipt is a function of providing the customer with a service (title). Therefore, the escrow funds payable are akin to a repayment of debt within financing activities, whereby the Company in it’s role as fiduciary is temporarily holding cash in its restricted accounts on behalf of it’s customers and subsequently releases the cash to settle the customers contractual obligation. These reclassifications will maintain an accurate reflection of the Company's cash flows from operating activities. In August 2016, the FASB issued guidance on the classification of certain cash receipts and cash payments in the statement of cash flows. This new standard will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. The new standard is effective for fiscal years beginning after December 15, 2017, which means that it will be effective for the Company in its fiscal year beginning January 1, 2018. The new standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case the Company would be required to apply the amendments prospectively as of the earliest date practicable. The adoption of this standard is not expected to have a material impact on the Company’s statement of cash flows. In February 2016, the FASB issued guidance on leases. This standard requires the recognition of a right-of-use asset and lease liability on the balance sheet for all leases. This standard also requires more detailed disclosures to enable users of financial statements to understand the amount, timing, and uncertainty of cash flows arising from leases. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018, and should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, and early adoption is permitted. The Company expects to adopt this guidance on January 1, 2019. The Company is currently evaluating the effect of the adoption of this guidance, and believes that it will have a significant effect on its financial position. In May 2014, the FASB issued guidance on revenue recognition. This guidance provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance also requires more detailed disclosures to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company will adopt this guidance on January 1, 2018, using the modified retrospective adoption methodology. Both real estate and other revenue contain single performance obligations and the Company believes the timing of the satisfaction of the performance obligations, triggering the recognition of revenue, will not differ from the Company's current timing for recognizing revenue.
Fair Value of Financial Instruments	The Company’s financial instruments consist of cash and cash equivalents, short-term investments, accrued revenue, restricted cash, accounts payable, certain accrued liabilities, and redeemable convertible preferred stock. The fair value of the Company’s financial instruments approximates their recorded values due to their short period to maturity. Fair value is defined as the exchange price that would be received for an asset or an exit price paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The current accounting guidance for fair value measurements defines a three-level valuation hierarchy for disclosures as follows: Level I —Unadjusted quoted prices in active markets for identical assets or liabilities. Level II —Inputs other than quoted prices included within Level I that are observable, unadjusted quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level III —Unobservable inputs that are supported by little or no market activity, requiring the Company to develop its own assumptions. The categorization of a financial instrument within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s financial instruments consist of Level I and Level II assets and liabilities. Level I assets include highly liquid money market funds that are included in cash and cash equivalents and Level II assets include certificates of deposit that are included as short-term investments, interest rate lock commitments ("IRLCs") and forward sales commitments, included in other current assets and other current liabilities. The certificates of deposit are measured by observable market data for substantially the full term of the assets or liabilities. Interest rate lock commitments and forward sales commitments are measured by observable marketplace prices. The Company’s redeemable convertible preferred stock was categorized as Level III. Redeemable convertible preferred stock was valued at each reporting date, through March 31, 2017, based on unobservable inputs and management’s judgment due to the absence of quoted market prices, inherent lack of liquidity and the long-term nature of such financial instruments. For further description of the valuation methodology of the redeemable convertible preferred stock, please see Note 2 to the Company's consolidated financial statements in the Prospectus. Changes in the fair value of redeemable convertible preferred stock were recognized as accretion expense (income) and included as an adjustment to net loss to arrive at net income (loss) attributable to common stock on the condensed consolidated statements of operations. Summary of changes in fair value are reflected in the condensed consolidated balance sheets, condensed consolidated statements of changes in redeemable convertible preferred stock and stockholders' deficit, and Note 6. The Company used the value of the common stock at the IPO price of $15.00 per share to determine the accretion amount for the three months ended September 30, 2017.

Fair Value of Financial Instr20

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Unobservable Inputs	Significant unobservable inputs used in the determination of fair value of the Company’s redeemable convertible preferred stock, when outstanding, included the following: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Valuation methodology: Income approach (private company) 15.0% N/A 15.0% 12.5% Market approach (private company) 15.0% N/A 15.0% 12.5% PWERM (IPO) 52.5% N/A 52.5% 60.0% PWERM (M&A) 17.5% N/A 17.5% 15.0% IPO revenue multiple 3.25x-3.5x N/A 3.0x-4.5x 2.8x-3.0x Forecasted revenue growth rate 28.0%-40.0% N/A 28.0%-40.9% 31.1%-40.0% Discount rate 20.0%-25.0% N/A 20.0%-25.0% 20.0%
Schedule of Assets, Liabilities, and Equity Measured at Fair Value on a Recurring Basis	A summary of assets, liabilities, and mezzanine equity at December 31, 2016 and September 30, 2017, related to our financial instruments, measured at fair value on a recurring basis, is set forth below: Fair Value Financial Instrument Fair Value Hierarchy December 31, September 30, 2016 2017 Money market funds (included in cash and cash equivalents) Level I 46,357 191,738 Certificates of deposit (included in short-term investments) Level II 1,749 1,258 Interest rate lock commitments Level II — 6 Forward loan commitments Level II — (2 ) Redeemable convertible preferred stock (mezzanine equity) Level III (655,416 ) —

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	A summary of property and equipment at December 31, 2016 and September 30, 2017 is as follows: December 31, September 30, Useful Lives 2016 2017 (years) Leasehold improvements Shorter of lease term or economic life $4,911 $15,369 Website and software development costs 1-3 10,114 13,301 Computer and office equipment 3 2,846 2,862 Software 3 1,367 1,235 Furniture 7 2,406 2,862 Construction in progress 10,856 — 32,500 35,629 Accumulated depreciation and amortization (13,274) (14,029) Property and equipment, net $19,226 $21,600

Acquired Intangible Assets (Tab

Acquired Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following table presents details of the Company's intangible assets subject to amortization as of the dates presented: As of December 31, 2016 As of September 30, 2017 Useful Gross Accumulated Amortization Net Gross Accumulated Amortization Net Trade Names 10 $ 1,040 $ (234 ) $ 806 $ 1,040 $ (312 ) $ 728 Developed technology 10 2,980 (670 ) 2,310 2,980 (894 ) 2,086 Customer relationships 10 860 (194 ) 666 860 (258 ) 602 $ 4,880 $ (1,098 ) $ 3,782 $ 4,880 $ (1,464 ) $ 3,416

Operating Segments (Tables)

Operating Segments (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Information on each of the reportable and other segments and reconciliation to consolidated net income (loss) is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Real estate Revenue $ 79,198 $ 103,864 $ 195,203 $ 262,894 Cost of revenue 47,966 64,258 132,990 178,850 Gross profit $ 31,232 $ 39,606 $ 62,213 $ 84,044 Other Revenue $ 1,866 $ 5,615 $ 5,211 $ 11,388 Cost of revenue 2,181 5,908 5,965 12,783 Gross profit $ (315 ) $ (293 ) $ (754 ) $ (1,395 ) Consolidated Revenue $ 81,064 $ 109,479 $ 200,414 $ 274,282 Cost of revenue 50,147 70,166 138,955 191,633 Gross profit $ 30,917 $ 39,313 $ 61,459 $ 82,649 Operating expenses 25,254 29,066 78,820 96,252 Net income (loss) $ 5,700 $ 10,558 $ (17,191 ) $ (13,203 )
Schedule of Real Estate Revenue	Real estate revenue consisted of the following: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Real estate revenue Brokerage revenue $ 74,052 $ 97,787 $ 183,440 $ 247,327 Partner revenue 5,146 6,077 11,763 15,567 Total real estate revenue $ 79,198 $ 103,864 $ 195,203 $ 262,894

Redeemable Convertible Prefer24

Redeemable Convertible Preferred Stock and Stockholders' Equity/(Deficit) (Tables)	9 Months Ended
	Sep. 30, 2017
Temporary Equity And Stockholder's Equity [Abstract]
Temporary Equity	The following table presents the accretion income/(expense) of the redeemable convertible preferred stock to its redemption value recorded within the consolidated statements of changes in redeemable convertible preferred stock and stockholders’ equity/(deficit) during the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Series A-1 $ (88 ) $ (1,119 ) $ 1,448 $ (4,904 ) Series A-2 (2 ) (28 ) 36 (123 ) Series A-3 (182 ) (2,349 ) 3,010 (10,192 ) Series B (1,090 ) (9,284 ) 12,021 (40,336 ) Series C (668 ) (8,530 ) 11,039 (37,062 ) Series D (571 ) (7,300 ) 9,447 (31,717 ) Series E (241 ) (2,948 ) 4,102 (12,884 ) Series F (208 ) (4,541 ) 7,084 (20,184 ) Series G — (4,125 ) 8,632 (18,513 ) Total $ (3,050 ) $ (40,224 ) $ 56,819 $ (175,915 ) As of December 31, 2016 the Company had outstanding redeemable convertible preferred stock as follows: As of December 31, 2016 Shares Authorized Shares Issued and Outstanding Aggregate Liquidation Preference Proceeds, Net of Issuance Costs Series A-1 4,378,284 1,459,427 $ 500,000 $ 462,000 Series A-2 109,552 36,517 11,000 11,000 Series A-3 9,099,610 3,033,202 259,000 241,000 Series B 36,338,577 12,112,853 7,998,000 7,952,000 Series C 33,388,982 11,129,656 12,000,000 11,950,000 Series D 28,574,005 9,524,665 10,269,000 10,201,000 Series E 12,041,148 4,013,712 14,924,000 14,841,000 Series F 20,808,580 6,936,186 50,536,000 50,453,000 Series G 21,527,376 7,175,784 70,991,000 68,062,000 Total 166,266,114 55,422,002 $ 167,488,000 $ 164,173,000
Schedule of Reserved Shares of Common Stock	The Company has reserved shares of common stock, on an as-converted basis, for future issuance as follows: December 31, September 30, 2016 2017 Redeemable convertible preferred stock outstanding 55,422,002 — Stock options issued and outstanding 13,291,684 13,298,339 Shares available for future equity grants 4,941,504 7,974,192 Total 73,655,190 21,272,531

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Value Assumptions	The range of assumptions for the three and nine months ended September 30, 2016 and 2017, are provided in the following table: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Expected life 7 years N/A 7 years 7 years Volatility 38.88%-38.90% N/A 38.88%-41.36% 37.88%-40.97% Risk-free interest rate 1.39%-1.41% N/A 1.39%-1.66% 1.96%-2.26% Dividend yield —% N/A —% —% Weighted-average grant date fair value 3.43 N/A 3.75 4.86
Schedule of Stock Option Activity	The following table presents information regarding options granted, exercised, forfeited, or cancelled for the periods presented: Weighted- Average Exercise Price Weighted-Average Remaining Contractual Life (years) Outstanding at December 31, 2016 13,291,684 $ 5.85 7.74 $ 61,774 Options granted 1,137,046 10.78 Options exercised (660,634) 3.81 14,058 Options forfeited or canceled (469,757) 7.87 Outstanding at September 30, 2017 13,298,339 6.30 7.27 249,825 Options exercisable at September 30, 2017 8,151,136 $ 4.69 6.34 $ 166,304
Schedule of Allocation of Share-based Compensation Costs	The following table presents detail of stock-based compensation amounts included in the Company’s condensed consolidated statements of operations for the periods indicated below: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Cost of revenue $ 546 $ 715 $ 1,589 $ 2,129 Technology and development 555 819 1,653 2,301 Marketing 114 121 336 362 General and administrative 940 1,054 2,312 3,236 Total stock-based compensation $ 2,155 $ 2,709 $ 5,890 $ 8,028

Net Income (Loss) per Share A26

Net Income (Loss) per Share Attributable to Common Stock (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	The following table sets forth the calculation of basic and diluted net income (loss) per share attributable to common stock during the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Numerator: Net income (loss) $ 5,700 $ 10,558 $ (17,191 ) $ (13,203 ) Accretion of redeemable convertible preferred stock (3,050 ) (40,224 ) 56,819 (175,915 ) Undistributed earnings attributable to participating securities (2,105 ) — (31,483 ) — Net income (loss) attributable to common stock—basic 545 (29,666 ) 8,145 (189,118 ) Net income (loss) attributable to common stock—diluted 545 (29,666 ) (17,191 ) (1) (189,118 ) Denominator: Weighted average shares used to compute net income (loss) per share attributable to common stock—basic 14,441,246 58,868,903 14,339,820 29,678,082 Weighted average shares used to compute net income (loss) per share attributable to common stock—diluted 17,855,205 58,868,903 69,761,822 29,678,082 Net income (loss) per share attributable to common stock—basic $ 0.04 $ (0.50 ) $ 0.57 $ (6.37 ) Net income (loss) per share attributable to common stock—diluted $ 0.03 $ (0.50 ) $ (0.25 ) $ (6.37 ) (1) A reconciliation of net income (loss) attributable to common stock—basic to net income (loss) attributable to common stock—diluted is as follows: Net income (loss) attributable to common stock—basic $ 8,145 Add-back: Accretion due to application of if-converted (56,819 ) Add-back: Undistributed earnings attributable to participating securities due to application of if-converted 31,483 Net income (loss) attributable to common stock—diluted $ (17,191 )
Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following outstanding shares of common stock equivalents were excluded from the computation of the diluted net income (loss) per share attributable to common stock for the periods presented because their effect would have been anti-dilutive. For the three and nine months ended September 30, 2017 the redeemable convertible preferred stock were anti-dilutive, but converted to common stock on a one -for-one basis on August 2, 2017 upon the successful completion of the IPO, and as such were included in the weighted average shares outstanding for the period they were outstanding as shares of common stock. Three Months Ended September 30, Nine Months Ended September 30, 2016 2017 2016 2017 Redeemable convertible preferred stock 55,422,002 55,422,002 — 55,422,002 Options outstanding 4,117,639 13,298,339 12,679,454 13,298,339 Total 59,539,641 68,720,341 12,679,454 68,720,341

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments	Future minimum payments due under these agreements as of December 31, 2016 and September 30, 2017 are as follows: Facility Leases Other Commitments December 31, September 30, December 31, September 30, 2016 2017 2016 2017 2017 $ 4,803 $ 1,793 $ 2,123 $ 2,504 2018 6,227 7,592 848 642 2019 6,652 8,102 — — 2020 5,563 7,183 — — 2021 and thereafter 32,262 35,193 — — Total minimum lease payments $ 55,507 $ 59,863 $ 2,971 $ 3,146

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	The following table presents the detail of accrued liabilities as of the dates presented: December 31, September 30, 2016 2017 Accrued compensation and benefits $ 16,659 $ 22,380 Legal fees and settlements 2,795 2,205 Miscellaneous accrued liabilities 2,799 5,617 Total accrued liabilities: $ 22,253 $ 30,202

Description of Business and S29

Description of Business and Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands	Aug. 02, 2017USD ($)$ / sharesshares	Jul. 10, 2017	Apr. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common stock issued upon conversion (in shares) | shares	55,422,002
Conversion basis	1
Deferred offering costs	$ 3,799			$ 0	$ 720
Proceeds from landlord reimbursements			$ 8,470
Home inventories				5,399	0
Home inventories, active listings				2,658
Home inventories, in process				$ 2,741
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reverse split of shares, conversion ratio		3
Cumulative stock-based compensation adjustment (see Note 1)					0
Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative stock-based compensation adjustment (see Note 1)					(522)
Accounting Standards Update 2016-09 | Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative stock-based compensation adjustment (see Note 1)					$ 552
IPO
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shares sold in offering (in shares) | shares	10,615,650
Offering price (in dollars per share) | $ / shares	$ 15
Net proceeds from stock offering	$ 144,289
Over-Allotment Option
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shares sold in offering (in shares) | shares	1,384,650

Fair Value of Financial Instr30

Fair Value of Financial Instruments - Schedule of Unobservable Inputs (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Fair Value Inputs, Equity, Quantitative Information [Line Items]
Discount rate for multiple valuation methodologies		20.00%
Income Approach Valuation Technique
Fair Value Inputs, Equity, Quantitative Information [Line Items]
Probability of redemption, private company	15.00%	12.50%	15.00%
Market Approach Valuation Technique
Fair Value Inputs, Equity, Quantitative Information [Line Items]
Probability of redemption, private company	15.00%	12.50%	15.00%
Probability Weighted Expected Return Method
Fair Value Inputs, Equity, Quantitative Information [Line Items]
Probability of redemption, initial public offering	52.50%	60.00%	52.50%
Probability of redemption, mergers and acquisitions	17.50%	15.00%	17.50%
Minimum
Fair Value Inputs, Equity, Quantitative Information [Line Items]
IPO revenue multiple	3.25	2.8	3
Forecasted revenue growth rate	28.00%	31.10%	28.00%
Discount rate for multiple valuation methodologies	20.00%		20.00%
Maximum
Fair Value Inputs, Equity, Quantitative Information [Line Items]
IPO revenue multiple	3.5	3	4.5
Forecasted revenue growth rate	40.00%	40.00%	40.90%
Discount rate for multiple valuation methodologies	25.00%		25.00%

Fair Value of Financial Instr31

Fair Value of Financial Instruments - Schedule of Assets, Liabilities, and Equity Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds (included in cash and cash equivalents)	$ 191,738	$ 46,357
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certificates of deposit (included in short-term investments)	1,258	1,749
Interest rate lock commitments	6	0
Forward loan commitments	(2)	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Redeemable convertible preferred stock (mezzanine equity)	$ 0	$ (655,416)

Fair Value of Financial Instr32

Fair Value of Financial Instruments - Narrative (Details)	Aug. 02, 2017$ / shares
IPO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Share price (in dollars per share)	$ 15

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 35,629	$ 32,500
Accumulated depreciation and amortization	(14,029)	(13,274)
Property and equipment, net	21,600	19,226
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	15,369	4,911
Website and software development costs
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 13,301	10,114
Website and software development costs | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	1 year
Website and software development costs | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Computer and office equipment
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Property and equipment, gross	$ 2,862	2,846
Software
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Property and equipment, gross	$ 1,235	1,367
Furniture
Property, Plant and Equipment [Line Items]
Useful Lives	7 years
Property and equipment, gross	$ 2,862	2,406
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 0	$ 10,856

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Depreciation and Amortization	$ 1,665	$ 1,475	$ 4,960	$ 4,166

Acquired Intangible Assets - Sc

Acquired Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross	$ 4,880	$ 4,880
Accumulated Amortization	(1,464)	(1,098)
Net	$ 3,416	3,782
Trade Names
Finite-Lived Intangible Assets [Line Items]
Useful Live (years)	10 years
Gross	$ 1,040	1,040
Accumulated Amortization	(312)	(234)
Net	$ 728	806
Developed technology
Finite-Lived Intangible Assets [Line Items]
Useful Live (years)	10 years
Gross	$ 2,980	2,980
Accumulated Amortization	(894)	(670)
Net	$ 2,086	2,310
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Live (years)	10 years
Gross	$ 860	860
Accumulated Amortization	(258)	(194)
Net	$ 602	$ 666

Acquired Intangible Assets - Na

Acquired Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization	$ 122	$ 0	$ 366	$ 0
2,018	488		488
2,019	488		488
2,020	488		488
2,021	488		488
2,022	488		488
Total	$ 2,440		$ 2,440

Operating Segments - Narrative

Operating Segments - Narrative (Details)	9 Months Ended
	Sep. 30, 2017segment
Segment Reporting [Abstract]
Number of operating segments	5
Number of reportable segments	1

Operating Segments - Reconcilia

Operating Segments - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	$ 109,479	$ 81,064	$ 274,282	$ 200,414
Cost of revenue	70,166	50,147	191,633	138,955
Gross profit	39,313	30,917	82,649	61,459
Operating expenses	29,066	25,254	96,252	78,820
Net income (loss)	10,558	5,700	(13,203)	(17,191)	$ (22,526)
Real Estate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	103,864	79,198	262,894	195,203
Cost of revenue	64,258	47,966	178,850	132,990
Gross profit	39,606	31,232	84,044	62,213
Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	5,615	1,866	11,388	5,211
Cost of revenue	5,908	2,181	12,783	5,965
Gross profit	$ (293)	$ (315)	$ (1,395)	$ (754)

Operating Segments - Schedule o

Operating Segments - Schedule of Real Estate Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Total real estate revenue	$ 109,479	$ 81,064	$ 274,282	$ 200,414
Real Estate
Segment Reporting Information [Line Items]
Total real estate revenue	103,864	79,198	262,894	195,203
Brokerage Revenue | Real Estate
Segment Reporting Information [Line Items]
Total real estate revenue	97,787	74,052	247,327	183,440
Partner Revenue | Real Estate
Segment Reporting Information [Line Items]
Total real estate revenue	$ 6,077	$ 5,146	$ 15,567	$ 11,763

Redeemable Convertible Prefer40

Redeemable Convertible Preferred Stock and Stockholders' Equity/(Deficit) - Narrative (Details)	Sep. 30, 2017$ / sharesshares	Aug. 02, 2017	Dec. 31, 2016$ / sharesshares	Dec. 31, 2015shares
Temporary Equity And Stockholder's Equity [Abstract]
Conversion basis		1
Redeemable convertible preferred stock, authorized (in shares)	0		166,266,114
Redeemable convertible preferred stock, issued (in shares)	0		55,422,002
Redeemable convertible preferred stock outstanding (in shares)	0		55,422,002	55,422,002
Common stock, authorized (in shares)	500,000,000		290,081,638
Common stock, par value (in dollars per share) | $ / shares	$ 0.001		$ 0.001
Preferred stock, authorized (in shares)	10,000,000		0
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.001		$ 0.001
Preferred stock, outstanding (in shares)	0		0

Redeemable Convertible Prefer41

Redeemable Convertible Preferred Stock and Stockholders' Equity/(Deficit) - Summary of Redeemable Convertible Preferred Stock (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2017	Dec. 31, 2015
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)	166,266,114	0
Redeemable convertible preferred stock, issued (in shares)	55,422,002	0
Redeemable convertible preferred stock outstanding (in shares)	55,422,002	0	55,422,002
Aggregate Liquidation Preference	$ 167,488	$ 0
Proceeds, Net of Issuance Costs	$ 164,173
Series A-1
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)	4,378,284
Redeemable convertible preferred stock, issued (in shares)	1,459,427
Redeemable convertible preferred stock outstanding (in shares)	1,459,427
Aggregate Liquidation Preference	$ 500
Proceeds, Net of Issuance Costs	$ 462
Series A-2
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)	109,552
Redeemable convertible preferred stock, issued (in shares)	36,517
Redeemable convertible preferred stock outstanding (in shares)	36,517
Aggregate Liquidation Preference	$ 11
Proceeds, Net of Issuance Costs	$ 11
Series A-3
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)	9,099,610
Redeemable convertible preferred stock, issued (in shares)	3,033,202
Redeemable convertible preferred stock outstanding (in shares)	3,033,202
Aggregate Liquidation Preference	$ 259
Proceeds, Net of Issuance Costs	$ 241
Series B
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)	36,338,577
Redeemable convertible preferred stock, issued (in shares)	12,112,853
Redeemable convertible preferred stock outstanding (in shares)	12,112,853
Aggregate Liquidation Preference	$ 7,998
Proceeds, Net of Issuance Costs	$ 7,952
Series C
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)	33,388,982
Redeemable convertible preferred stock, issued (in shares)	11,129,656
Redeemable convertible preferred stock outstanding (in shares)	11,129,656
Aggregate Liquidation Preference	$ 12,000
Proceeds, Net of Issuance Costs	$ 11,950
Series D
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)	28,574,005
Redeemable convertible preferred stock, issued (in shares)	9,524,665
Redeemable convertible preferred stock outstanding (in shares)	9,524,665
Aggregate Liquidation Preference	$ 10,269
Proceeds, Net of Issuance Costs	$ 10,201
Series E
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)	12,041,148
Redeemable convertible preferred stock, issued (in shares)	4,013,712
Redeemable convertible preferred stock outstanding (in shares)	4,013,712
Aggregate Liquidation Preference	$ 14,924
Proceeds, Net of Issuance Costs	$ 14,841
Series F
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)	20,808,580
Redeemable convertible preferred stock, issued (in shares)	6,936,186
Redeemable convertible preferred stock outstanding (in shares)	6,936,186
Aggregate Liquidation Preference	$ 50,536
Proceeds, Net of Issuance Costs	$ 50,453
Series G
Temporary Equity [Line Items]
Redeemable convertible preferred stock, authorized (in shares)	21,527,376
Redeemable convertible preferred stock, issued (in shares)	7,175,784
Redeemable convertible preferred stock outstanding (in shares)	7,175,784
Aggregate Liquidation Preference	$ 70,991
Proceeds, Net of Issuance Costs	$ 68,062

Redeemable Convertible Prefer42

Redeemable Convertible Preferred Stock and Stockholders' Equity/(Deficit) - Accretion of Redeemable Convertible Preferred Stock (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Temporary Equity [Line Items]
Accretion of redeemable convertible preferred stock	$ (40,224)	$ (3,050)	$ (175,915)	$ 56,819
Series A-1
Temporary Equity [Line Items]
Accretion of redeemable convertible preferred stock	(1,119)	(88)	(4,904)	1,448
Series A-2
Temporary Equity [Line Items]
Accretion of redeemable convertible preferred stock	(28)	(2)	(123)	36
Series A-3
Temporary Equity [Line Items]
Accretion of redeemable convertible preferred stock	(2,349)	(182)	(10,192)	3,010
Series B
Temporary Equity [Line Items]
Accretion of redeemable convertible preferred stock	(9,284)	(1,090)	(40,336)	12,021
Series C
Temporary Equity [Line Items]
Accretion of redeemable convertible preferred stock	(8,530)	(668)	(37,062)	11,039
Series D
Temporary Equity [Line Items]
Accretion of redeemable convertible preferred stock	(7,300)	(571)	(31,717)	9,447
Series E
Temporary Equity [Line Items]
Accretion of redeemable convertible preferred stock	(2,948)	(241)	(12,884)	4,102
Series F
Temporary Equity [Line Items]
Accretion of redeemable convertible preferred stock	(4,541)	(208)	(20,184)	7,084
Series G
Temporary Equity [Line Items]
Accretion of redeemable convertible preferred stock	$ (4,125)	$ 0	$ (18,513)	$ 8,632

Redeemable Convertible Prefer43

Redeemable Convertible Preferred Stock and Stockholders' Equity/(Deficit) - Summary of Common Stock Reserved for Future Issuance (Details) - shares	Sep. 30, 2017	Dec. 31, 2016	Dec. 31, 2015
Temporary Equity And Stockholder's Equity [Abstract]
Redeemable convertible preferred stock outstanding (in shares)	0	55,422,002	55,422,002
Stock options issued and outstanding (in shares)	13,298,339	13,291,684
Shares available for future equity grants (in share)	7,974,192	4,941,504
Total common stock reserved (in shares)	21,272,531	73,655,190

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) - USD ($) $ in Thousands	Jul. 27, 2017	Sep. 30, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved (in shares)		21,272,531	73,655,190
2004 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved (in shares)		0
Unrecognized stock-based compensation		$ 20,977
Employee Stock | 2017 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved (in shares)	1,600,000
Common Stock, Capital Shares Reserved for Future Issuance, Annual Increase, Duration	10 years
Percentage of common stock, outstanding	1.00%
Employee Stock Option | 2017 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual increase period		10 years
Expected life		10 years

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Value Assumptions (Details) - Employee Stock Option - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	7 years	7 years	7 years
Dividend yield	0.00%	0.00%	0.00%
Weighted-average grant date fair value	$ 3.43	$ 4.86	$ 3.75
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	38.88%	37.88%	38.88%
Risk-free interest rate	1.39%	1.96%	1.39%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	38.90%	40.97%	41.36%
Risk-free interest rate	1.41%	2.26%	1.66%

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Number Of Options
Outstanding at December 31, 2016 (in shares)	13,291,684
Options granted (in shares)	1,137,046
Options exercised (in shares)	(660,634)
Options forfeited or canceled (in shares)	(469,757)
Outstanding at September 30, 2017 (in shares)	13,298,339	13,291,684
Options exercisable at September 30, 2017 (in shares)	8,151,136
Weighted- Average Exercise Price
Outstanding at December 31, 2016 (in dollars per share)	$ 5.85
Options granted (in dollars per share)	10.78
Options exercised (in dollars per share)	3.81
Options forfeited or canceled (in dollars per share)	7.87
Outstanding at September 30, 2017 (in dollars per share)	6.30	$ 5.85
Options exercisable at September 30, 2017 (in dollars per share)	$ 4.69
Stock Option Activity, Additional Disclosures
Weighted average remaining contractual life outstanding	7 years 3 months 7 days	7 years 8 months 27 days
Weighted average remaining contractual life exercisable	6 years 4 months 2 days
Options outstanding, Aggregate intrinsic value	$ 249,825	$ 61,774
Options exercised, Aggregate intrinsic value	14,058
Options exercisable, Aggregate intrinsic value	$ 166,304

Stock-based Compensation - Allo

Stock-based Compensation - Allocation of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 2,709	$ 2,155	$ 8,028	$ 5,890
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	715	546	2,129	1,589
Technology and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	819	555	2,301	1,653
Marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	121	114	362	336
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 1,054	$ 940	$ 3,236	$ 2,312

Net Income (Loss) per Share A48

Net Income (Loss) per Share Attributable to Common Stock - Computation of Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Numerator:
Net income (loss)	$ 10,558	$ 5,700	$ (13,203)	$ (17,191)	$ (22,526)
Accretion of redeemable convertible preferred stock	(40,224)	(3,050)	(175,915)	56,819
Undistributed earnings attributable to participating securities	0	(2,105)	0	(31,483)
Net income (loss) attributable to common stock—basic	(29,666)	545	(189,118)	8,145
Net income (loss) attributable to common stock—diluted	$ (29,666)	$ 545	$ (189,118)	$ (17,191)
Denominator:
Weighted average shares used to compute net income (loss) per share attributable to common stock—basic	58,868,903	14,441,246	29,678,082	14,339,820
Weighted average shares used to compute net income (loss) per share attributable to common stock—diluted	58,868,903	17,855,205	29,678,082	69,761,822
Net income (loss) per share attributable to common stock - basic (in dollars per share)	$ (0.50)	$ 0.04	$ (6.37)	$ 0.57
Net income (loss) per share attributable to common stock - diluted (in dollars per share)	$ (0.50)	$ 0.03	$ (6.37)	$ (0.25)
Net income (loss) attributable to common stock—basic	$ (29,666)	$ 545	$ (189,118)	$ 8,145
Add-back: Accretion due to application of if-converted	40,224	3,050	175,915	(56,819)
Add-back: Undistributed earnings attributable to participating securities due to application of if-converted	0	2,105	0	31,483
Net income (loss) attributable to common stock—diluted	$ (29,666)	$ 545	$ (189,118)	$ (17,191)

Net Income (Loss) per Share A49

Net Income (Loss) per Share Attributable to Common Stock - Summary of Anti-dilutive Stock Equivalents (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share	68,720,341	59,539,641	68,720,341	12,679,454
Temporary equity outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share	55,422,002	55,422,002	55,422,002	0
Options outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share	13,298,339	4,117,639	13,298,339	12,679,454

Net Income (Loss) per Share A50

Net Income (Loss) per Share Attributable to Common Stock - Narrative (Details)	Aug. 02, 2017
Earnings Per Share [Abstract]
Conversion basis	1

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Effective tax rate	0.00%	0.00%	0.00%	0.00%
Operating loss unavailable for carryforward					$ 1,538
Federal Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward						$ 84,973

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2014lawsuit
Commitments and Contingencies Disclosure [Abstract]
Number of pending lawsuits | lawsuit							3
Number of class action claims pending | lawsuit							2
Number of representative claims pending | lawsuit							1
Accrual for amount of settlement payment		$ 1,800,000		$ 1,800,000		$ 1,800,000
Rent expense		1,705,000	$ 1,798,000	6,030,000	$ 4,022,000
Debt Instrument [Line Items]
Amount outstanding under Warehouse Agreement		705,000		705,000		$ 0
Borrowings from warehouse credit facilities				5,603,000	$ 0
Texas Capital Bank, Warehouse Agreement | Mortgage Warehouse Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 10,000,000
Discount on variable interest rate	1.50%
Stated interest rate	3.00%
Lender participation interest	97.00%
Amount outstanding under Warehouse Agreement		$ 598,000		598,000
Western Alliance Bank | Mortgage Warehouse Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 10,000,000
Stated interest rate	3.75%
Lender participation interest	98.00%
Borrowings from warehouse credit facilities				$ 107,000
Western Alliance Bank | Mortgage Warehouse Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable interest rate	3.00%
Minimum
Debt Instrument [Line Items]
Operating lease term				1 year
Maximum
Debt Instrument [Line Items]
Operating lease term				11 years

Commitments and Contingencies53

Commitments and Contingencies - Summary of Future Minimum Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Facility Leases
2,017	$ 1,793	$ 4,803
2,018	7,592	6,227
2,019	8,102	6,652
2,020	7,183	5,563
2021 and thereafter	35,193	32,262
Total minimum lease payments	59,863	55,507
Other Commitments
2,017	2,504	2,123
2,018	642	848
2,019	0	0
2,020	0	0
2021 and thereafter	0	0
Total minimum lease payments	$ 3,146	$ 2,971

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accrued compensation and benefits	$ 22,380	$ 16,659
Legal fees and settlements	2,205	2,795
Miscellaneous accrued liabilities	5,617	2,799
Total accrued liabilities:	$ 30,202	$ 22,253

Retirement Plan (Details)

Retirement Plan (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Retirement Benefits [Abstract]
Minimum percentage of compensation allowed to be deferred			1.00%
Maximum percentage of compensation alllowed to be deferred			100.00%
Employer matching and profit-sharing contributions	$ 0	$ 0	$ 0	$ 0