Ok. Maybe it is just me. But I look at Redfin’s announcement today that they have landed $50MM of investment capital to expand with a LOT more seriousness than I do the Trulia + Realogy = ?? rumors that are floating around everywhere.
Redfin expands SLOWLY and profitably. They are brokers. They are methodical. They are in 20+ markets and their strategy to succeed does NOT depend on a takeover of who and what REALTORS are.
What Brokers should learn from Glenn Kelman: Use technology where it is needed. Use it to strengthen agents and the agent relationship with clients. Do NOT use it to replace or supplant them.
But USE it. Too many brokers are sticking their head in the sand.
My guess is that Glenn will be expanding to MORE areas. That 22 metro areas will grow to multiples of that.
$50 Million in the hands of a brokerage team that has proven to be patient and work within the system will go a lot farther than $50 Million in the hands of a syndicator or a franchisor with a burn rate and an exit strategy.
Just my .02