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Operator: Greetings and welcome to the Redfin Corporation’s Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode.
Redfin CEO Glenn Kelman said during a virtual Inman Connect session on Wednesday that pressure from the bombshell lawsuits and the Department of Justice may ultimately lead to 'a different world' than the one that exists today.
Redfin Max is a new comp plan enabling agents to make up to a 75% commission on business they generate on their own.
Redfin will still classify agents as employees but, beginning next year, will transition those in some California markets to an all-commission-based pay program.