Redfin, which operates as a brokerage and referral site in 23 markets and exclusively as a referral site in at least three others, says it will no longer temporarily operate as what is commonly referred to as a "paper brokerage" in any of the markets it expands to in the future. Redfin's four-year run as a referral-only site in Las Vegas and its current operation as a referral-only site in Tucson, Arizona, has prompted some industry observers to question Redfin's business model. Redfin began displaying Internet Data Exchange listings and sending referrals to "partner" agents in Las Vegas in 2010 and did not put its first Redfin agent on the ground until late April. Companies that join a multiple listing service to obtain access to its IDX listing feed without providing brokerage se...
Apr 30, 2014 by Paul Hagey
Feb 10, 2014 by Inman