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Rocket to Purchase Redfin for $1.75B

Appraisal Buzz

Rocket Companies has announced that it has entered into an agreement to purchase digital real estate brokerage Redfin in an all-stock transaction for a value $1.75 Founded in 2004, Redfin operates a home search platform with more than one million for-sale and rental listings and a tech-powered brokerage of more than 2,200 agents.

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What went wrong at Redfin?

Housing Wire

Launched in 2004, Redfin was named after the companys mission to redefine the real estate industry. It offered an innovative take on the agent compensation model and got a headstart on Zillow in the portal wars. Redfin leaned into that, and it didn’t work.”

Brokerage 395
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Bay Area team bolts Compass for Side

Housing Wire

OWN Marin, a veteran team of five agents, announced last week that they switched from the New York-headquartered brokerage to the San Francisco-based outfit. Marin County has always been a protected and insulated market,” Haney said of an area known for beaches, redwoods, and postcard-style scenery.

Brokerage 370
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Inside Redfin’s unique, brave and vulnerable business model

Housing Wire

But what makes Redfin different – what makes it radically, transformatively different – is that it classifies real estate agents as employees. These employee agents are exceedingly more productive than the average independent contractor agent. million real estate agents. A profitable division.

Business 370
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7 best real estate schools in Illinois (IL) for 2024

Housing Wire

If you’re looking for the best real estate schools in Illinois to complete the required 75 hours of class time you’ll need to get a broker’s license, we’re here to help. In Illinois, real estate agents are called brokers. out of 5 stars Rating: 4.5 15 of required 75 hrs.

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What to Do If a Home You’re Looking to Buy has Defective Drywall

Lamacchia Realty

This defective drywall was imported mostly between 2004-2008. So, if you’re purchasing a home that was built after August of 2004, it’s best to check with the seller and their agent about the drywall. Do Sellers Need to Disclose this Drywall? If Chinese drywall is found, you can negotiate the deal with your agent.

Realty 69
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8 Signs of a Possible Real Estate Bubble or Burst

McKissock

We saw this happen in such areas as Las Vegas where you had many individuals that were not your typical investor that were able and willing and buying real estate on speculation. When speculative buying is occurring, that means you have more buyers than sellers and they’re speculating because they believe the market’s going to go up.