BrokerageTechnology

Exclusive: Redfin’s master plan for DIY homebuying

Agents will continue to play important role in transactions: Redfin CEO

Glenn Kelman In private presentations to investors, Redfin laid out its long-term and disruptive vision of using technology to help buyers take more control over their home purchase by deploying easy-to-use transaction tools. This strategy allows the company -- whose market cap has jumped over $2 billion since it went public last week -- to double-end transactions, serving both the buyer and the seller in the home sale. Redfin is investing in technology to match buyer clients with in-house listings, allow buyers to see homes without agents and place bids on properties themselves -- perhaps through an auction format, Redfin CEO Glenn Kelman told Inman about his discussions with investors. "We said, 'Well, we’re investing in software to make it easier for an agent to write an offer, and at some point, that could help us develop an auction, and then we’re investing in self-service tours, which could make it easier for our own buyers to access the house," he said. These...