Redfin CEO: Technology is finally ready to change how you buy and sell your house

Glenn Kelman, CEO of Redfin

In July 2006, Glenn Kelman went to Washington. Kelman, the CEO of what was a new internet real estate company called Redfin, told the House Financial Services Committee that the existing real estate industry was “stifling” innovation.

As an upstart that offered both a new approach to helping customers buy and sell their homes, and a discounted fee for both buyers and sellers, Redfin RDFN, -0.15% was in the crosshairs. “Competing agents have threatened us with violence, intimidated our customers and tried to block their offers,” Kelman said. Just as bad, he said, any attempts to get relief from what seemed like impartial regulators didn’t work, since “the commissioners worked for the brokerages we were complaining about.

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