Redfin CEO Glenn Kelman said rising rates and home prices are crushing consumer sentiment. However, rising inventory and a year-end interest rate cut will be key to restoring it. Continue reading
Redfin continued its recovery during the fourth quarter, with revenue declining 2 percent year over year to $218.1 million — a near 180 from its Q1 and Q2 showings where annual revenue declines topped 20 percent. Continue reading
The company is the latest of several to step away from the National Association of Realtors, which has suffered both a scandal and legal defeats in recent months. Continue reading
“Batton 2,” exponentially larger in scope than Sitzer | Burnett and the Moehrl commission suits, was filed last week in Illinois and takes aim at many of the defendants in another new suit called Gibson. Continue reading
The company posted profits of $98.3 million, up 8 percent from the third quarter of 2022, while tallying $269 million in revenue, a decrease of 12 percent from a year ago, according to third-quarter earnings Thursday. Continue reading
Kelman said during virtual Inman Connect on Wednesday that pressure from the bombshell lawsuits and the Department of Justice may ultimately lead to “a different world” than the one that exists today. Continue reading
Redfin will still classify agents as employees but, beginning next year, will transition those in some California markets to an all-commission-based pay program. Continue reading
In a message to employees on Monday, Redfin CEO Glenn Kelman cited NAR’s harassment scandal and other grievances as reasons for calling on 1,800 Realtors to cancel memberships. Continue reading
Redfin CEO Glenn Kelman said Tuesday on CNBC that as sales continue to decline, the company will need to cut costs strategically and respond to economic challenges one day at a time. Continue reading
Pocket listings are positively overflowing nearly four years after the National Association of Realtors enacted its controversial Clear Cooperation policy to end them, a new Intel analysis shows. Continue reading