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Redfin partners with security giant ADT for program that lets buyers tour homes without an agent

GeekWire

Redfin’s Direct Access program enables buyers to tour a home by unlocking the door via an app and connected smart lock. Tech tools such as video tours have increasingly helped power real estate transactions during the pandemic, decreasing the need for face-to-face interactions. Its net loss widened to $27.9

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Redfin lays off 201 employees as housing market continues to retrench

GeekWire

This is the third time in less than a year the Seattle real estate company has conducted a workforce reduction. Redfin said last November that it would wind down its home-flipping program RedfinNow and eliminate 862 positions, or 13% of its workforce. The company also reported a net loss of $61.9

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Redfin posts $191M in Q1 revenue; CEO says tech will help real estate giant navigate COVID-19 crisis

GeekWire

The Seattle real estate company posted its first quarter earnings report on Thursday with $191 million in revenue, up 73% and beating expectations of $178 million. Net loss per share came in at $0.64, lower than estimates of -$0.75. (GeekWire Photo / Nat Levy). million last year, with a $201,000 loss.

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Redfin ready for a ‘revolution’ after commissions verdict

GeekWire

GeekWire File Photo / Dan DeLong) [This story originally appeared on Real Estate News. Net loss: $19 million, an improvement over the previous quarter’s net loss of $27.4 million, and significantly better than the net loss of $90.2 Redfin CEO Glenn Kelman at the 2018 GeekWire Summit. million, down from $232.2

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Redfin’s latest layoffs come a few months after it said housing market had started to recover

GeekWire

(Redfin Photo) After predicting that the sluggish housing market had started to rebound in January, Redfin this week blamed real estate market conditions as part of the reason for its latest round of layoffs. The company also reported a net loss of $61.9 That came after an 8% workforce reduction last June.

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Redfin Q4 revenue drops 25% to $479M as company winds down home-flipping business

GeekWire

The Seattle real estate giant reported $479 million in Q4 revenue, which beat expectations and surpassed the high end of its guidance range. Redfin said in November it would wind down its home-flipping program RedfinNow and eliminate 862 positions, or 13% of its workforce. Shares were down 2% in after-hours trading.

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Seattle evaluating its own capital gains tax following new state law

GeekWire

“If you are looking for a local jurisdiction that does not impose a net income tax, but does tax capital gains, I don’t have an example.” The state law imposes a 7% tax on capital gains of more than $250,000 from the sale of stocks and bonds, excluding revenue from real estate and retirement accounts, among other exceptions.