More Layoffs at Redfin as Tough Year Continues

Redfin laid off around 100 staff this week, with the company confirming "fewer than 100 were impacted".

The layoffs appear to have mostly affected the Redfin Concierge service, an add-on that helps homeowners make their properties more attractive before they put them up for sale.

Other impacted roles include support and sales manager roles within Redfin's traditional brokerage business, with some members of staff offered new roles as agents instead of redundancy.

A Redfin spokesperson said:

"As we hire more Redfin Next agents and our current agents become more entrepreneurial and self-sufficient, Redfin needs less support and managerial staff.

"Additionally, Redfin is decentralizing operations for our Concierge service. No agents are being laid off. In fact, some of the impacted employees are being offered jobs as agents."

Redfin has experienced some tumultuous years including multiple rounds of layoffs, an exit from iBuying (and more layoffs), and the brokerage's shock decision to leave the National Association of Realtors (NAR) in October 2023.

CEO Glenn Kelman has been outspoken about "dreadful" market conditions as a major force behind continued financial struggles for the business, which saw Redfin record net losses of circa $28 million in Q2 2024—a relative improvement on Q1's $67 million loss.

The company, which remains a popular destination for homeseekers, hasn't recorded a profit since 2020.