In the second quarter of 2023, Redfin was still facing losses, although the extent of these losses has been decreasing. The Seattle-based tech-enabled brokerage is taking measures to increase market share, particularly in the more competitive and expensive coastal markets.
To attract more experienced real estate agents, Redfin is experimenting with its traditional commission structure. The company is also offering enhanced recruiting bonuses and stock options to prospective agents. Redfin is also leveraging its existing technology resources and investing more into its customer relationship management tools.
• Redfin was in the red yet again in the 2nd Quarter of 2023
• The company is adjusting its brokerage model to make it more attractive to experienced agents in pricey coastal areas
• This includes a restructured commission structure, more robust recruiting bonuses, and better customer relationship management tools
You can read this full article at: https://www.housingwire.com/articles/redfin-looks-to-experiment-with-a-new-brokerage-business-model/(subscription required)
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