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What’s on Redfin CEO’s mind after IPO?

08/10/2017

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SAN FRANCISCO — Redfin CEO Glenn Kelman has tried not to let the company’s recent IPO go to his head. He wants to stay focused on improving a business model that is still far from perfect, he said on stage at Inman Connect. “It’s taken years, and we’re halfway done,” he said. “We have a long way to go,” and a lot of that journey will involve making real estate agents more efficient. Glenn Kelman on stage at Inman Connect. Some industry insiders have said that one way Redfin plans on increasing efficiency is to replace buyer’s agents. In a recent earnings call, Zillow Group CEO Spencer Rascoff labeled Redfin a “threat to organized real estate,” after claiming that “undoubtedly, one of Redfin’s goals is to obviate the buyer’s agent.” Addressing the chatter, Kelman said “lots of people are putting words in our mouth.” Redfin is investing in self-service technology for homebuyers, such as home tours that don’t require a real estate agent and a bidding tool that could he…

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