Tag Archives: glenn kelman

Seattle-based Coldwell Banker franchise ditches NAR

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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 →

Mother of all commission suits filed in Illinois, this time by homebuyers

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“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 →

Redfin posts profitable Q3 despite another quarter of falling revenue

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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 →

Redfin CEO: With commissions in peril ‘cooperation may crumble’

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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 eliminates salaries, pivots to commission model in LA and SF

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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 →

Redfin leaves NAR — and calls on its brokers and agents to follow suit

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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 →

Glenn Kelman sees silver lining in sales spiral: ‘It can’t go much lower’

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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 thriving 4 years after NAR sought to end practice

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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 →

Redfin’s return to office shows unique stress for US office market

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Experts expect U.S. companies to adjust remote work policies in the coming 6-12 months as the office market suffers. “Our cultures are different around work-life balance,” said CBRE’s Julie Whelan. Continue reading →

Redfin CEO says housing sales volume has hit ‘rock bottom’

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Redfin CEO Glenn Kelman on Wednesday told MarketWatch that current transaction levels — sustained primarily by people who absolutely need to move — are about as low as they ever get. Continue reading →