Redfin pulls plug on iBuyer program. RedfinNow, which generated 40% of the brokerage’s Q4 revenue, was suspended amid coronavirus crisis.
“On March 18, 2020, we announced that RedfinNow, our business that buys homes directly from homeowners and resells them to homebuyers, will temporarily pause making offers on homes,” the company disclosed Wednesday in a filing with the Securities and Exchange Commission.
In a statement, Redfin CEO Glenn Kelman said that the decision was made in response to the ambiguous nature of the housing business right now.
The decision comes at a time when the platform was rapidly scaling. It was live in 13 markets and saw a 407 percent increase in the number of homes sold in 2019, over 2018.
Zillow and Offerpad, were still buying homes as of Wednesday.
Keller Williams San Diego has launched its new neighborhood-based home search app to coincide with the updated website that was launched earlier this year.
The new home search tool is web- and app-based, and aims to give homebuyers and sellers a deeper understanding of the city they are searching in by neighborhood.
- Guide, a fully-customizable client companion, facilitates the entire transaction from search to signing on the dotted line.
- Win consumer loyalty by refining their search with leading-edge functionality to find what they’re looking for, faster.
- Give home buyers a deeper understanding of the neighborhoods that interest them including market and lifestyle information.
- Whether they’re looking for their next home or their dream home, help clients organize, rank, and then discuss their favorite listings.