BrokerageIndustry News

Room for Redfin and Realogy?

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

SAN FRANCISCO -- There's room for growth for both lean brokerages employing new business models like Redfin, and traditional big-name franchises like Better Homes and Gardens Rand Realty, executives at the companies agreed.In a discussion at Inman News' Real Estate Connect San Francisco, Redfin CEO Glenn Kelman and Better Homes and Gardens Rand Realty managing partner Greg Rand both said that while market conditions are far from rosy, they are poised for growth.Both companies expect their future growth and success to come at the expense of established brokerages that don't innovate and invest in technology."Companies like ours, we grow when things are tough by opening up the tent" and bringing in new agents and companies through acquisition, Rand said.Kelman said Redfin is in 12 markets, and will probably open for business by the end of the year in four of the six additional markets it's currently planning to expand in. The brokerage has doubled its business every year, he no...