RE/MAX ends referral deal with Redfin over role of buyers’ agents

RE/MAX has begun the process of ending its exclusive referral agreement with Redfin over concerns about the role of buyers’ agents.

Redfin is piloting a service in Boston called Redfin Direct, which enables the firm’s listing customers to get offers from unrepresented buyers; a move it says meets its mission to redefine real estate in consumers’ favor.

RE/MAX says that it believes the role of real estate agents in homebuying and selling is more important than ever and has expressed concern about how Redfin Direct may impact that.

“Given Redfin's recent announcement regarding a program that would encourage buyers not to use agents on listings where the seller is represented by Redfin, we cannot continue with an official, corporate-level relationship at this time. We have begun the process of dissolving our exclusive referral agreement with them beginning today,” RE/MAX said Monday.

“Utmost respect for RE/MAX”
Redfin has addressed the concerns of RE/MAX saying that it strives to provide the best for its agents and in a blog post Redfin CEO Glenn Kelman defends its position.

“We aren’t going to wait for another company to give consumers a better deal and then scurry to figure out how we can talk people out of it. We’re going to imagine a better future for our customers and build a company where everyone benefits from our success. This is what every broker that cares about its agents should do,” he wrote.

Redfin has issued a statement saying that it has the utmost respect for RE/MAX as a company, its leaders, and its agents.

“RE/MAX agents who already work as Redfin's partner agents will continue to be our partners, and RE/MAX agents can continue to enroll in our partner program, but Redfin can now enroll partner agents from other

brokerages to serve Redfin.com visitors in the U.S. and Canada,” Redfin says.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Do you invest in commercial properties?