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RDFN - Redfin Corp
$32.41
-0.40(-1.22%)9:00:00 PM 1/14/2022
Redfin is a real estate brokerage. The Seattle-based company was founded in 2004, and went public in Aug. 2017. Glenn Kelman is the CEO. Redfin's business model is based on sellers paying Redfin a small fee, either 1 or 1.5% to list the seller's home. This does not include an additional fee charged to the seller to compensate the brokerage representing the buyer. This latter fee usually is in the 2.5-3.0% range. Customers who buy with Redfin are only charged 1% to list their home . Buyers who buy with Redfin also get a portion of the brokerages commission back that can be applied to their closing costs or in the form of a check after they close on their home. Redfin was founded in 2004 by David Eraker, Michael Dougherty, and David Selinger. David Eraker, who had dropped out of the University of Washington's medical school for a career in software design, was inspired by his own real estate misadventures and founded Redfin with hopes of upending the traditional brokerage model. Unlike the other major real estate web portals , which get the majority of their earnings from advertising and lead generation, Redfin operates as a brokerage and makes money when users buy or sell homes with its real estate agents.
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    01/14/2022RDFN
    U.S. Home Sales Tumble Most in 18 Months With Listings Scarce

    (Bloomberg) -- U.S. home sales in December had their biggest plunge since the early months of the Covid-19 lockdowns as listings sank to record lows.Most Read from BloombergCannabis Compounds Prevented Covid Infection in Laboratory StudyFrequent Boosters Spur Warning on Immune ResponseSupreme Court Blocks Biden’s Shot-or-Test Rule for WorkersSay Goodbye to Self-Isolating, WFH Mandates, Mass TestingDjokovic’s Australian Visa Canceled Again in Public InterestTransactions fell 11% from a year earli

    01/14/2022RDFN
    CORRECTING and REPLACING Redfin Reports Home Sales Posted Largest Monthly Decline Since Pandemic Onset

    SEATTLE, January 14, 2022--Redfin reports housing supply fell to a new low in December, fueling a 3.6% month-over-month drop in home sales

    01/14/2022RDFN
    Raleigh's Glenwood South boom enters new chapter with major investments

    Several large developments planned for Glenwood South have the potential to transform the sometimes-rowdy district into a more upscale commercial corridor.

    01/13/2022RDFN
    Home Prices Start New Year at New High

    SEATTLE, January 13, 2022--(NASDAQ: RDFN) — The median home sale price surged 16% year over year to an all-time high of $365,000 during the week ending January 9, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

    01/13/2022RDFN
    Want 156% to 165% Returns? 2 Growth Stocks to Buy, According to Wall Street

    For instance, Matthew Carletti of JMP Securities has a price target of $95 on Lemonade (NYSE: LMND), implying 156% upside from its current price. Machine learning models then correlate those variables with the likelihood of claims, theoretically allowing Lemonade to underwrite policies more precisely.

    01/12/2022RDFN
    Redfin to buy Bay Area mortgage lender for $135M

    Redfin expects the deal to close in the second quarter. The company will eliminate 121 mortgage roles as it consolidates it lending operations.

    01/12/2022RDFN
    Redfin’s Purchase of Bay Equity Home Loans Is ‘Positive Step’

    Shares of Redfin were rising Wednesday as investors rallied behind news that the online real estate brokerage would acquire mortgage lender Bay Equity Home Loans. Redfin (ticker: RDFN) will purchase Bay Equity for $135 million in cash and stock. The price represents a $72.5 million premium over Bay Equity’s estimated book value as of Dec. 31, 2021.

    01/12/2022RDFN
    2 Cheap Growth Stocks To Buy Right Now

    When buying stocks, cheap is good. Redfin is trying to change that with some unique twists on an old industry. Redfin's long-term vision is to become a one-stop shop for the buying and selling experience, combining brokerage, mortgage, and title services into one tech-enabled platform.

    01/12/2022RDFN
    Redfin buying Bay Equity for $135m adds $8.5b in mortgage volume & creates one-stop home buying, selling, financing for consumers

    At 10x Redfin’s existing lending business, Bay Equity matches scale of Redfin’s 2,400 agent brokerage to serve more customers with Redfin financing.

    01/11/2022RDFN
    Redfin to buy Bay Area mortgage lender for $135 million

    Redfin Corp. said late Tuesday it has agreed to buy mortgage lender Bay Equity Home Loans for $135 million in cash and stock. The San Francisco Bay Area lender is licensed in 42 states and employs about 1,200 people, Redfin said. "The acquisition accelerates Redfin's strategy to become a one-stop shop for brokerage, lending and other services," the company said. The deal is expected to close in the second quarter, pending customary approvals, and to be "accretive" to Redfin's per-share earnings