Redfin Estimate could be inflating the value of certain homes.
Joseph Alongi, founder of the low-fee brokerage SoldNest, recently argued that the company has had a big impact over the past few years on rising home prices, according to Inman. He told the publication that Redfin’s estimate would adjust right after the home hit the market and then adjust two or three more times within the first two or three days. He believes user engagement plays a role as well.
At one house in Silicon Valley listed for $1.78 million, … (2 comments)
Investors have soured on Redfin and Purplebricks - at least for now.
Shares of both discount brokerages have taken a dive this year, as the broader housing market has posed a challenge. Even as investors and analysts bet on the longer term prospects of the companies, enthusiasm has dimmed in the the current climate.
Seattle-based Redfin has slid about 22 percent this year, though it remains above its $15 IPO price. But the main headwind is out of the company’s control: There’s not enough housing supply.
“The inventory problem could be an extended … (0 comments)
For decades, the telephone has been the real estate agent's tool of the trade. But a new wave of younger home buyers is changing the way agents use those phones. Millennials, born between 1980 and the late '90s, don't want to talk. They want texts. "We're on our phones all the time, and this generation does not like to pick up the phone," says Player Murray, managing broker at Berkshire Hathaway HomeServices York Simpson Underwood Realty in Raleigh, North Carolina. "They don't want to … (0 comments)
Brokerage founder Joseph Alongi claims tool has played a large role in rising prices
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