Los Angeles wants to ban iBuying
The city council just approved an effort that will look for strategies to stop iBuyers such as Opendoor and Redfin
by Jim Dalrymple II Nov 13
RedfinNow meets 30-market milestone with Twin Cities launch
Homeowners in Minneapolis and St. Paul can now request an all-cash offer through RedfinNow. This is the 12th market RedfinNow has added this year
by Marian McPherson Nov 12
Coldwell Banker Bain acquired by Houston title insurance company
Coldwell Banker Bain chair Bill Riss has sold his majority interest in the company to US RES Holdco, an affiliate of Houston title insurance company Stewart Information Services
Encryption, inequality and 'Zero DOM': 6 pocket listing takeaways
Inman took a deep dive into pocket listings, which continue to polarize the real estate industry long after many thought the practice would disappear
by Jim Dalrymple II Nov 5
No, BlackRock isn't buying up all of Zillow's homes
Zillow's ill-fated iBuying venture drew detractors online before the program collapsed. But as the company races to unload 18,000 homes, were they right about where it's headed?
by Daniel Houston Nov 5
Redfin’s iBuying revenues grew by more than 1,000% in Q3
The brokerage and portal company raked in $540M between July and September, and saw its losses improve
by Jim Dalrymple II Nov 4
Zillow stocks plunge as competing iBuyers hang steady amid chaos
Thirty minutes into trading on Wednesday, Zillow Group's stock was down about 16.6 percent to around $70.55 per share
Pocket listings are still around, but the off-market landscape is evolving
Two years after the National Association of Realtors approved the Clear Cooperation Policy, pocket listings are as strong as ever. This is Inman's first story in a 5-part series
by Jim Dalrymple II Nov 1
Redfin CEO Glenn Kelman 'skeptical' about iBuyer growth
Glenn Kelman said Wednesday at Inman Connect that many agents expect iBuyers to grow. He isn't so convinced, but does see disintermediation as a real issue
by Jim Dalrymple II Oct 27
New Redfin tool allows shoppers to phone a friend with FaceTime
The feature lets buyers hop on a FaceTime call with their agents and others, browse listings and share their favorites with the group
by Daniel Houston Oct 27
Here's the one decision that haunts Redfin CEO Glenn Kelman
In a candid interview, Redfin CEO Glenn Kelman talks about his decision to furlough agents and other tipping points that have changed his career
by Marian McPherson Oct 21
September sees new upturn in demand for second homes
More buyers were seriously considering a second-home purchase last month, and locked in mortgage rates to prepare for the transaction
by Daniel Houston Oct 20
Abortion policies are a dealbreaker for 27% of movers: Redfin
Americans are taking a second look at state laws when choosing where to relocate, a new Redfin study released Monday revealed
by Marian McPherson Oct 18
Compass stock, market cap tumbles to new low
The company's shares ended Monday trading at $10.74, down significantly compared to when they debuted about 6 months ago. The drop reduced Compass' valuation to $4.2B
by Jim Dalrymple II Oct 11
Despite risk, California fire zones still see rising home prices
A new study by Redfin found that in the areas impacted by California's 5 largest wildfires between 2010 and 2020, home values grew at a rate of 21 percent, slightly slower than the surrounding markets
by Libertina Brandt Oct 11
Redfin partners with home security company to expand self-led tours
Thanks to a new partnership with ADT, homesellers listing vacant homes with Redfin in 22 markets have access to 24/7 home monitoring at no additional cost
by Marian McPherson Oct 7
3 moments that shaped the career of Redfin CEO Glenn Kelman 
From ditching medical school to hiring agents, Redfin's CEO breaks down the moments that led him to become a successful leader. Read about the three moments that sharpened his leadership skills ahead of his appearance at Inman Connect Las Vegas
by Libertina Brandt Oct 4
Why REX pays buyer agents and uses MLSs — sometimes
REX's general counsel Michael Toth says the discount brokerage pays buyer agents in at least 40% of its list-side transactions
Redfin brings cash offer service to 2 largest markets in North Carolina
The Seattle-based brokerage has launched its iBuyer service in Charlotte and Raleigh
by Daniel Houston Sep 30
Are sellers getting greedy? Asking prices surge to new record
The median asking price of newly listed homes for sale surged 12% year over year to a record high of $361,250, according to a Redfin report
by Lillian Dickerson Sep 29
Meet the former Amazon exec tasked with growing Redfin’s reach
Redfin Chief Growth Officer Christian Taubman shares how he balances leading Redfin's product and marketing strategy, and why keeping 'the real world' in mind is key
by Marian McPherson Sep 27
Redfin CEO, Zillow pour cold water on TikToker's iBuyer theory
A recent viral video suggested iBuyers could jack up the prices of homes. But one expert called the theory 'fairly conspiratorial,' and iBuyers themselves said they still have a tiny share of the market
by Jim Dalrymple II Sep 23
Interest in second homes remains down for third consecutive month
Many buyers are still considering second-home purchases, but the number was down from last year's blistering levels, according to a report from Redfin on Wednesday
by Daniel Houston Sep 22
Fall housing outlook: Cooling prices, tighter inventory, less competition
As the weather cools, so too will competition and housing prices, experts told Inman for its 2021 Fall Housing Market Outlook. Still, agents can expect inventory to remain tight
by Lillian Dickerson Sep 22
'I’ve never seen anything like this': Bidding wars hit the rental market
The for-sale market appears to be cooling down, but the rental market is fiery-hot in housing markets nationwide, with would-be tenants getting their first taste of bidding wars
by Lillian Dickerson Sep 21
Fewer homes sell in August than last year, a first since pandemic boom
Home sales declined in August on a seasonally adjusted basis, settling in 6% lower than the same time last year, according to new data from Redfin released Thursday
by Daniel Houston Sep 16
NAR vs. DOJ: A timeline of the battle as it stretches into 4th year
An analysis of the association's petition offers a step-by-step timeline of the events leading up to the DOJ's launch of a new investigation of NAR rules
by Andrea V. Brambila Sep 16
Bidding wars reach lowest level since August 2020: Redfin
Thanks to the reemergence of seasonal market patterns, bidding wars have slowed to their lowest level in over a year, according to Redfin's latest market report released on Tuesday
by Marian McPherson Sep 14
Inman Handbook on Redfin referrals
Market your services in a whole new way when you make Redfin your referral partner
by Christy Murdock Sep 13
Realogy calls for NAR rule change on listing broker attribution
Real estate brokerage giant says 'many listing search websites misdirect consumers by obfuscating display of a property’s listing firm'
Largest MLS in nation signs off on slew of big changes to listings
California Regional MLS, which boasts more than 108,000 subscribers, has instituted changes on how listing agents and brokers appear on online listing pages
Despite cooling housing market, pending sales continue to climb
During the 4-week period ending Sept. 5, pending sales rose 6% from the year before, according to a report released Wednesday by Redfin
Offerpad stock surges on second day of trading as iBuyers see gains
The iBuyer's stock spiked 27% on Tuesday before settling back down to $10 per share as investors continued to show interest in companies that make direct cash offers for homes
by Daniel Houston Sep 8
Redfin extends iBuyer service into select areas in Atlanta, Nashville
With these latest moves, the Seattle-based brokerage is now offering instant cash offers to sellers in 27 markets throughout the country
by Daniel Houston Sep 1
Extreme seller's market shows more signs of leveling off: Redfin
The typical home price has been holding roughly steady for weeks as inventory continues its slow path to recovery
by Daniel Houston Aug 26
California's Red Oak Realty goes green
The company is now buying carbon offsets and will help clients do the same, and it has achieved official green certification for its facilities
by Jim Dalrymple II Aug 18
Summer housing slowdown brings bidding wars back to earth
Competition eased throughout the nation for Redfin agents, who reported only 60% of their offers were part of a bidding war in July
by Daniel Houston Aug 17
Demand for second homes drops for second-straight month
Second-home demand fell 21% in July from the previous year, according to a report released on Tuesday by tech-powered brokerage Redfin
by Lillian Dickerson Aug 17
Home prices show signs of leveling off for first time in months
After five consecutive months of record home prices, the market appears to be plateauing, according to several key indicators
by Daniel Houston Aug 9
As daily COVID cases surpass 100K, brokerages face tough vax decision
Most brokerages told Inman they can't force agents, who are mostly independent contractors, to get the vaccine. Lawyers Inman spoke to said otherwise
by Libertina Brandt Aug 6
Redfin agents returning to the office must be vaccinated, masked
Redfin announced in a company wide email earlier this week that all employees returning to the office must provide proof of vaccination. It's encouraging agents to also mask up
by Libertina Brandt Aug 5
Redfin's Q2 revenue jumps 121% to $471 million
Redfin Premier and RedfinNow's robust performance pushed Redfin's revenue to new heights during Q2 2021. However, agent attrition and website traffic continue to be an issue
by Marian McPherson Aug 5
RedfinNow becomes first major iBuyer to launch in Chicago
The expansion follows RedfinNow's recent moves into other northeastern markets, including Baltimore, Washington, DC, and Boston
Redfin adds ClimateCheck risk data to its website
The news comes on the heels of RealScout and Ojo Labs also adding ClimateCheck data to their listings portals in recent months as consumers become increasingly concerned about climate change risk factors when buying a home
Redfin-owned RentPath names ParkMobile chief exec as new CEO
Jon Ziglar, formerly the CEO of ParkMobile, will lead the newly acquired RentPath's growth strategy, product expansion and listing integration into the Redfin platform
by Marian McPherson Jul 29
Agents should probably learn to play nice with institutional investors
Institutional investors are a growing presence in the US real estate market. The savvy agent should learn how to adapt to their ways — even if it feels a little bit unnatural
by Lillian Dickerson Jul 27
Selling to buy? It should get easier in coming weeks, report says
Conditions should start to improve for buyers while remaining great for sellers if current trends hold, according to a new Redfin report
by Daniel Houston Jul 23
Investor home purchases exceed pre-pandemic levels, hit record high
Investors purchased 67,943 US homes during the second quarter, for a total value of $48.5B, the highest figure on record, according to data released Thursday by Redfin
by Lillian Dickerson Jul 22
Condo prices jump more than 20% as sales rebound across the US
A new Redfin report found that the median price of a condo hit an all-time high of $304,000 in June
Redfin's head of industry relations moves to Realogy
In her new role, former Redfin Head of Industry Relations Caitlin McCrory will lead Realogy's industry advocacy and strategic policy efforts
by Marian McPherson Jul 21
Americans still want to relocate — even as pandemic fears dwindle
The number of Redfin.com users who searched for a property outside of where they currently live rose to 31.1% during the second quarter, up from 27.6% a year earlier
by Lillian Dickerson Jul 21
Transitioning into summer, high-end properties are seeing a cool down
As the official start to summer approaches, agents say the market is less chaotic, and more high-end luxury properties seem to be available and lingering on the market
by Lillian Dickerson Jul 16
Percentage of all-cash home purchases in US soars to 30%
That figure represents the largest share of homes purchased in all cash since 2014, according to Redfin
by Lillian Dickerson Jul 15
June home sales see largest decline since 2012: Redfin
Homes also sold at their priciest and at their quickest pace on record during June, but Redfin said that sales pace and market competition have now likely peaked for 2021
by Lillian Dickerson Jul 15
Mortgage boom for second homes takes hit amid new lending rules
New lending rules and a return to the office may have dented the prolific rise in demand for second-home loans, according to new data
by Daniel Houston Jul 14
Bidding wars begin to cool as more home inventory comes online
Buyer fatigue and a growing home inventory may have contributed to a reduction in bidding wars in June, according to Redfin agents
by Daniel Houston Jul 13
Hispanics most likely to get family help to buy a home: Redfin
52% of Hispanic homeowners said they lived with family or friends without paying rent to save for housing costs, according to a new report
by Andrea V. Brambila Jul 13
Redfin launches program to help professionals enter real estate
The career accelerator program will help professionals in other industries prepare for a career with Redfin through in-person classes and training
by Marian McPherson Jul 8
RealScout adds ClimateCheck data to platform
RealScout's addition of climate risk data into its platform follows a recent trend of real estate companies adding similar data to their portals as homebuyers become increasingly concerned about climate change risk
IBuyer transactions return to near pre-pandemic levels
IBuyer purchases by Redfin, Zillow Offers, Opendoor, Offerpad and Bungalo rose 20% in the first quarter of 2021, but remained down year over year, according to new data
by Daniel Houston Jun 25
‘I’ve never seen anything like this’: 580 Seattle homes have sold for $300K above ask this year
A new Redfin report found that homes in some of America's largest metro areas sold for well above asking price in the first half of 2021, bucking an established trend
by Daniel Houston Jun 23
Summer market will be hot, but not scorching, economists say at Inman Connect
Daryl Fairweather of Redfin and Jeff Tucker of Zillow said during a panel that the market would continue to be strong through the end of 2021
by Lillian Dickerson Jun 16
Why teams should focus on the customer experience over growth
Teams of agents play a crucial role in real estate, but some are focusing on the wrong metrics, experts said at Inman Connect
by Daniel Houston Jun 15
After buying frenzy, demand for second homes comes down to earth
New lending restrictions and buyer preferences meant slower growth last month in mortgages for vacation homes and investment properties
by Daniel Houston Jun 10
Demand soars for high-end homes
The number of sales involving higher-end homes rose by 26% year over year, outpacing the less expensive end of the market, according to a new analysis by Redfin
by Daniel Houston Jun 2
Inman Handbook on new-home sales
New-home sales illuminate the health of the market, and where it might be heading in the near-term. As agents grapple with tight inventory, they'll want to keep an eye on the data
Inman Handbook on pending home sales
Pending sales data has its limits, but it's also one of the best ways to try to predict the near-term future of the real estate market
by Jim Dalrymple II Jun 1
51% of homes sold above listing price in May: Redfin
Continued inventory shortages and heightened buyer demand led to a red-hot May where nearly 60% of homes went under contract in 2 weeks
by Marian McPherson May 28
Top Agent Network takes aim at office exclusives in NAR pocket listing policy
Top Agent Network argues that office exclusives result in less inventory, less exposure for listings and less consumer choice while benefitting large brokerages
by Andrea V. Brambila May 27
Glenn Kelman shares 14 reasons the market is so 'bizarre' now
The Redfin CEO's latest Twitter thread reveals how far buyers are willing to go to win a home, including offering to name their child after a seller
by Marian McPherson May 25
Nearly 75% of offers written by Redfin agents entered bidding wars in April
Low mortgage rates and a historic inventory shortage is leading to an ultra-competitive market in most American cities
Realogy clutches top spot on T3 Sixty's 2021 Mega 1000 list
Realogy secured the top spot on T3 Sixty's Mega 1000 list with $184B in 2020 sales volume. However, brokerages with alternative models are closing the gap
by Marian McPherson May 12
Compass reports $1.1B in quarterly revenue in first public earnings report
A hot housing market pushed Compass' revenue up 80% year over year, as the company aims to reduce its net losses and gain market share
by Marian McPherson May 12
Why are real estate company share prices falling despite good news?
Many real estate companies have reported stronger-than-expected earnings in recent weeks, but their share prices keep dropping
by Jim Dalrymple II May 7
Redfin reports $268M in revenue in first quarter, 40% jump over same period last year
CEO Glenn Kelman said Wednesday that the company is 'just about hitting on all cylinders' after hiring more agents and lenders
by Jim Dalrymple II May 5
OJO Labs adds climate risk assessments to portal listings
ClimateCheck's risk assessment scores for a variety of factors like flooding and droughts will now be integrated into listings featured on Movoto, OJO Labs' real estate search portal
Bubble trouble: Is the market on a collision course with disaster?
Soaring home prices have fueled talk of a bubble. Economists, however, think a gradual slowdown is more likely than a sudden pop
by Jim Dalrymple II May 3
RedfinNow becomes first iBuyer to enter the Boston real estate market
With the New England addition, RedfinNow is currently available in 23 markets nationwide
by Marian McPherson Apr 22
March was the hottest month in housing history
The median home price rose 17% annually to $353,000, according to Redfin's March housing report. Nearly half of all homes sold above asking price and none sold below
by Marian McPherson Apr 15
RedfinNow launches in Tucson, Ariz., resumes service in Las Vegas
Redfin's iBuyer service now operates in 22 markets nationwide
by Marian McPherson Apr 14
64% of March home sales included bidding wars: Redfin
Redfin's latest market report reveals just how far buyers must go to secure a home. Single-family listings garnered the most bids followed by townhomes
by Marian McPherson Apr 14
Borrowers locking in mortgages for second homes surged 128%
The annual rise in demand for second homes is nearly quadruple the 34% year-over-year gain for primary homes, according to a new report from Redfin
by Kelsey Ramírez Apr 8
Compass, Redfin, and eXp are America’s next top brokerage models: DelPrete
Opinion
A deeper look at their rapid rise reveals a trio of insightful growth stories — which may very well shape the future of America’s real estate landscape
by Mike DelPrete Apr 7
Redfin finalizes $608M RentPath acquisition earlier than expected
Redfin has acquired RentPath nearly 2 months after CoStar Group paid RentPath a $52 million break fee for a failed acquisition in 2020
by Marian McPherson Apr 5
Median home-sale price reaches all-time high of $335,613
Although the market is currently red-hot, Redfin's latest report released on Friday revealed that homebuyers may give up as home prices continue to grow
by Marian McPherson Apr 2
5 people to watch at Redfin as the company moves into a new era
Redfin is about to get a new second-in-command, all the while continuing its efforts to be consumers' preferred one-stop real estate shop
by Jim Dalrymple II Apr 1
5 big challenges for REX Real Estate in 2021
The well-connected discount brokerage is trying to raise more funding and grow its business as it takes on industry behemoths NAR and Zillow
by Andrea V. Brambila Mar 29
HomeServices of America once again tops Real Trends 500
The Berkshire Hathaway company had the most transaction sides in 2020, though Realogy Brokerage Group did the most volume. Several newer tech-focused companies also had good showings
by Jim Dalrymple II Mar 25
How much are iBuyers paying for customer acquisition?
Opinion
Customer acquisition costs for major iBuyers is roughly similar at $3,000-$4,000, which is about 2-4X more than Redfin
by Mike DelPrete Mar 24
What this spring means for real estate: Buyers beware
Industry professionals painted a picture of a competitive market that only stands to get more intense as the weather gets nicer and more buyers come out this spring
by Lillian Dickerson Mar 19
Redfin exec Scott Nagel announces retirement
Nagel has been with the tech-oriented brokerage for almost 14 years. Adam Wiener, Redfin's current chief growth officer, will take his place
by Jim Dalrymple II Mar 18
Number of homes sold above list price soared in February: Redfin
The median home sale price in the US rose 14.4% to $336,200 in February
Consumer groups support REX suit against anti-rebate law
The Consumer Federation of America and the Oregon State Public Interest Research Group argue that prohibiting rebates to buyers and sellers stifles commission competition and harms consumers
by Andrea V. Brambila Mar 16
'We're never going back to normal': Pete Flint on our digital future
To kick off Connect Now on Tuesday, Brad Inman and Trulia co-founder Pete Flint discussed the challenges and opportunities tied to the digitization of real estate
by Marian McPherson Mar 16
IBuyers still on slow road to recovery: Redfin
IBuyers purchased 0.3% of all homes sold across 418 US metro areas analyzed by Redfin during the fourth quarter of 2020, down from 0.8% of all homes sold the year before
by Lillian Dickerson Mar 11
Is Wall Street taking over real estate?
Opinion
Of the 10 largest real estate firms, eight are now publicly traded. These companies represent 575,000 agents, almost 45% of all Realtors
by Brad Inman Mar 9
Sale-to-list price ratio hits all-time high: Redfin
During the 4-week period ending Feb. 28, the median home sale price and the 4-week rolling average of median asking price on newly listed homes also hit new highs
CoStar will pay RentPath $52M for scuttled deal
After the FTC spiked CoStar's attempted acquisition of RentPath, Redfin stepped in to buy the embattled operator of rental marketplaces
by Patrick Kearns Mar 4
Just how impressive is Compass' $3.7B 2020 revenue?
The company revealed yearly revenue numbers that would make most real estate companies green with envy. But not top rival Realogy
by Patrick Kearns Mar 4
Redfin’s bid to buy RentPath isn’t about rentals
Opinion
Of course, Redfin is making a move into the rental space. The only surprise about this acquisition should be what took so long
by Jay Thompson Mar 3
The Real Word: Can ShowingTime competitors step up?
Opinion
This week, Byron Lazine and Nicole White discuss the new showing platform Instashowing, Redfin’s acquisition of RentPath, and Kim Kardashian's and Kayne West's divorce.
by Byron Lazine Feb 26
Redfin: Real estate commissions will drop due to iBuyers, public display
The average buyer broker commission rate iBuyers paid when they resold a home fell to 2.5% in 2020 from 2.8% in 2019, according to a new analysis by Redfin
by Andrea V. Brambila Feb 25
Sellers choose 'buy-before-you-sell' offers 5X more than iBuyer offers
Bridge programs have lower service fees and alleviate seller worries about buying in an inventory-starved market, according to a new report from real estate tech firm Zavvie
by Andrea V. Brambila Feb 25
Redfin CEO reveals iBuyers paid agents less in 2020
In Atlanta, iBuyers paid buyer's agents 3% in 2019. In the fourth quarter of 2020, that dropped to 2.5%
by Patrick Kearns Feb 24
Redfin CEO addresses the company's diversity efforts
Glenn Kelman wants Redfin to be a 'beacon for attracting the real estate industry's most diverse talent'
by Patrick Kearns Feb 24
Redfin rode the hot housing market to profitability in Q4
The company also beat revenue expectations set by analysts for the fourth consecutive quarter
by Patrick Kearns Feb 24
A median home in the United States now costs $330,500: Redfin
According to Redfin's latest survey, home prices surged 14% while sales grew by 20%
BREAKING: Redfin to acquire RentPath for $608M
After the FTC spiked CoStar Group's bid to buy RentPath, Redfin has stepped in to buy the embattled operator of rental portals
by Patrick Kearns Feb 19
Redfin starts displaying flood risk data on listings
Tech-powered brokerage Redfin is now publishing flood risk data for listings on the company's website where such data is available, impacting listings on over 94M homes
by Lillian Dickerson Feb 18
Which cities are the most economically integrated?
Looking for a home in a neighborhood with a good mix of luxury and affordable homes? Look no further than Seattle or Washington, D.C., a new report from Redfin suggests
by Lillian Dickerson Feb 17
$1M home searches hit record high in January: Redfin
Homes priced over $1M made up 10.8% of all saved searches on Redfin.com in January, up from 8.5% the previous year, and the highest point this figure has reached since 2017
by Lillian Dickerson Feb 10
Most cities are making a comeback — but not the priciest ones
Data from Redfin shows that cities are making a comeback, and young white-collar workers are seizing low mortgage rates and work-from-home policies to move to affordable cities
Redfin to display buyer's agent commissions in 65 markets
Redfin's brokerage website and mobile application will soon display the amount of compensation being offered to buyers' agents on more than 700,000 listings
by Patrick Kearns Feb 8
Zillow orders data company to stop scraping its content
In a cease-and-desist letter, Zillow accused Datafiniti of improperly using its data. Datafiniti, which also appears to have harvested Redfin data, says it scans info the way Google does
by Jim Dalrymple II Feb 2
US inventory plunges to all-time low
Homes for sale in rural areas across the nation were down 44.4% year over year during the four weeks ending Jan. 21, driving an all-time low in active listings, according to Redfin
WATCH: Redfin and KW execs go head-to-head at Connect
Redfin's Glenn Kelman and Keller Williams' Josh Team forcefully defended their companies' respective approaches to agent employment. Now, watch the entire video as a special Select subscriber benefit.
by Inman Jan 29
Employees or contractors? KW, Redfin execs debate philosophy
During Inman Connect, Redfin's Glenn Kelman and Keller Williams' Josh Team forcefully defended their companies' respective approaches to agent employment
by Jim Dalrymple II Jan 27
This city is poised to become the hottest real estate market of 2021
A new Zillow survey predicts this Southern metro will outperform all others in price growth
by Patrick Kearns Jan 19