Seattle-based brokerage and portal Redfin’s third-quarter revenue grew 3 percent year over year to $278 million. However, the company’s net losses ballooned 77.8 percent, according to Thursday’s earnings.
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Move’s overall revenue dipped 1 percent between July and September, while revenue from its real estate business — including Realtor.com — dropped 4 percent, according to Q3 earnings data released Thursday.
At NAR NXT, panelists Marilyn Wilson, James Dwiggins and Clint Skutchan advised MLSs to make themselves essential without guaranteeing compensation.
The virtual brokerage grappled with losses as it paid out its settlement in antitrust commission lawsuits and increased agent losses in a bid to offload less productive agents from the platform.