The Inman Files: Who is getting rich in real estate?

I have contacted Forbes Magazine about their Top 400 Richest People list because they obviously made an editing error, a grave omission. No one (almost no one) is included from the real estate services or real estate portal space. How could that be wit…

Redfin Mortgage expands to Illinois, eyes Virginia

Redfin announced today that it is now offering loans to homebuyers in Illinois through its lending arm, Redfin Mortgage. The Seattle-based tech-powered brokerage also plans to expand Redfin Mortgage into Virginia later this year, with more markets to come in 2018.  …

The Inman Files: Ending 155 years of real estate scams

Thirty some years ago when my older brother was climbing the corporate ladder in a Big Four accounting firm, he was relocated to the company’s New York City headquarters. A little green in the ways of the city, he got a telephone call one Sunday afternoon from a man claiming to be an executive with a big client of the firm. He said that he had traveled to New York City from London, lost his wallet and asked my brother to help him out with travel expenses …

Redfin expands 1% listing fee to 18 new markets

Half a percent might not seem like much, but Redfin has gotten a lot of mileage out of snipping that from its 1.5 percent list-side commission in some markets. Now the high-tech brokerage, which went public at the end of July, has rolled out this lower…

Will digital middlemen become toll booths for real estate agents?

Tech giants like Zillow Group, Facebook and Google are charging increasing fees for access to a growing share of homebuyers and sellers and tipping the scales in favor of agents and teams who can spend big, invest in technology and operate at lower margins. Smaller agents and big brokerages are under rising pressure to keep up …

Ditching dorms for homes in big college towns

Student loan debt can be attributed to more than just courses and books: The cost of dorm room living can run as high as $8,887 to $21,804 per year, and it’s only going up in some campuses …

Why CEO won’t sacrifice Redfin’s ‘soul’ post-IPO

What’s it like to be the CEO of a company celebrating its successful IPO? Redfin’s Glenn Kelman would tell you it feels exactly the same, and that his desire to stay focused on improving a business model that remains flawed hasn’t changed a bit. 

The Inman Files: Don’t wait for Opendoor to eat your lunch

Face it, the Opendoor iBuyer model of a fast, furious and certain home sale is beginning to get market share. What does a traditional broker owner do? Complain to NAR? No. Start a “Stop Opendoor” (SOD) campaign? Please. Change your listing offer? Now we’re talking …

Redfin’s 1% listing fee: Coming to a market near you

In its first earnings report since going public in July, Redfin posted a slight profit on strong revenue growth, as the high-tech brokerage’s website traffic spiked and its market share “accelerated.” …

Real estate investor roundup: This week in tech, funding, M&As and more

Venture capital firm Fifth Wall produces a bi-weekly newsletter that curates relevant news articles, summarizes recent deals and provides updates on the various portfolio companies in which they’ve invested …