Simple Solution to the Redfin Fair Housing Lawsuit

It appears that Redfin, the wokest brokerage in real estate, has been sued by a coalition of fair housing organizations for what they say is a violation of fair housing laws. Specifically, these organization claim that Redfin’s failure to provide services in lower priced areas that happen to be majority-minority, is a form of redlining. … Read more

Redfin vs. Realogy: The Key Trend Beneath Different Results Q2/2020

I’ve decided to change up how I go about analyzing the quarterly earnings reports from the five public companies in residential real estate. Part of it is that I’ve started a new investor-focused set of products and services (contact me if you want more information) but the other part is that the old way of … Read more

Two Steps Forward, One Step Back: The Story of Innovation in Real Estate

It’s been a while, hasn’t it? I apologize to you all, but I’ve been neck-deep in a very important project that’s taken months of my life to setup. The last few weeks have been pretty intense. I’m not quite ready to unveil it just yet, but soon… soon…. But having found a couple of hours … Read more

Requiem for a Dream: Redfin

I hold it true, whate’er befall; I feel it, when I sorrow most; ‘Tis better to have loved and lost Than never to have loved at all. – Alfred, Lord Tennyson, “In Memoriam” In my writeup of Redfin’s Q1 results, I wondered what happened to Redfin’s North Star: It used to be very clear: the … Read more

[VIP] Redfin, Q1/2020: Scared Money and The Big Squeeze

According to its own creation mythology, Redfin was born in the dark as it was founded just before the Bubble burst. If any company knows how to navigate panic, turmoil, and a terrible housing market, it would be Redfin. They like to call themselves “the rabid squirrel.” The whole self-identity of Redfin is of a … Read more

Opendoor Converges to Brokerages

It’s been a minute or two since I posted; blame the mundane annoyances of moving. Yes, I’m one of those people who bought a house during the pandemic and managed to move, despite all of the problems with vendors and the like thanks to government limits. I’ve also been very busy with projects and have … Read more

Redfin, Durable and the Future of Brokerage

Given my somewhat unique position, I am often amused by the gap between the world of real estate and the world of finance as it comes to news that affects both. A prime example comes to us from the announcement that Redfin raised $110 million in equity funding from Durable Capital Partners. On social media, … Read more

A Quick Note on iBuyers Pausing

I got an email this morning from Mike Delprete about Redfin and Opendoor “pausing” buying activity due to the COVID-19 situation: By temporarily pausing the purchase of homes, Opendoor has shut off its only source of revenue; there’s no iBuying without buying. The effect is akin to an airliner losing both engines while in flight. … Read more