On Redfin Leaving NAR

Largely symbolic move... but with real significance

The topic of online chatter this Monday morning is the news that Redfin has decided to leave the National Association of REALTORS. From the blogpost:

Redfin is moving to end our support of the National Association of Realtors for two reasons:

• NAR policies requiring a fee for the buyer’s agent on every listing

• a pattern of alleged sexual harassment. 

A Long Time Coming

We’ve had many meetings with NAR execs to explore compromises on the policies that would let us continue our support. Since a Redfin-wide initiative to join NAR in 2017, we’ve paid more than $13 million in dues, in an effort to influence NAR to advocate for an open, technology-driven marketplace that would benefit consumers. We’ll now explore other ways to advance those goals.

As is the norm for online discussion of important developments, there are quite a few people going off on random-ass tangents. I thought maybe it’s worthwhile to look at some facts and speculate responsibly. Sure, it’s still rank speculation, but at least we can do it with a measure of information and knowledge.

Because it will turn out that Redfin’s announcement is largely symbolic… but it is tremendously significant nonetheless. They will turn out to be the child who noticed that the emperor has no clothes.

Here we go.