[VIP] Redfin 3Q22: Back to the Future

I have had to think about Redfin after Q3 of 2022. Redfin has been my favorite brokerage for years now for a few reasons. I have thought their commitment to the consumer was unshakable, and the desire to save consumers money and to improve things for buyers is written into the DNA of the company. I thought their blend of technology and a W2 employee workforce that makes investment in technology worthwhile was brilliant and bold, if fraught with risk. I thought Glenn Kelman to be one of the smartest visionary CEOs in the industry, and thought his achievement in guiding Redfin from the depths of the GFC and Real Estate Bubble to the heights of the post-COVID madness was amazing.

Over the years, Redfin has pivoted and juked and jived to deal with the challenges of the market, the industry, consumer changes, and competition from all sides. I thought on the whole they did so admirably. In a way, the story of Redfin is the story of proptech innovation in the residential real estate space.

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-rsh

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Rob Hahn

Rob Hahn

Managing Partner of 7DS Associates, and the grand poobah of this here blog. Once called "a revolutionary in a really nice suit", people often wonder what I do for a living because I have the temerity to not talk about my clients and my work for clients. Suffice to say that I do strategy work for some of the largest organizations and companies in real estate, as well as some of the smallest startups and agent teams, but usually only on projects that interest me with big implications for reforming this wonderful, crazy, lovable yet frustrating real estate industry of ours.

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