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In a wide-ranging speech on the real estate market at Inman Connect Las Vegas, Redfin CEO Glenn Kelman expressed skepticism about the potential growth of iBuying, and he said he’s seeing a growing divide between brokerage models that offer more support and those that offer more money.
The speech was based on a survey Redfin just completed of more than 400 real estate professionals in 60 different U.S. metro areas.
Among other things, the survey found that 30 percent of agents foresee iBuyers such as Opendoor, Offerpad and Redfin itself growing to have between 5-10 percent of the real estate market. Another 30 percent of agents believe iBuyers will capture between 10-25 percent share, and 15 percent of agents envision the iBuyers could grow to between 25-50 percent of the market.
Watch the complete conversation from ICLV, above, as a benefit of your Inman Select subscription.