Sunday, 29 March 2020

Brad Inman interviews Glenn Kelman, CEO of Redfin - Part 4 of 4

Written by Posted On Tuesday, 03 September 2019 05:02

 

Part 4 of Brad Inman's interview with Glenn Kelman, CEO of Redfin.

Part 1: The Next Generation of Real Estate Agents: Agent Survey of Redfin Agents 
Part 2: Presentation by Glenn Kelman, Redfin CEO 
Part 3: Brad Inman interviews Glenn Kelman, CEO of Redfin

"The best way to advance the career of your agents is to give them the best product to sell. And, the product we are selling when we sit down with a seller is that we are going to find as many buyers for your listing as possible. We are going to use our website to give you every conceivable advantage."

Brad Asks Glenn: "Do you hate Zillow?"
Glenn: "No."

Brad: Do you like them?
Audience: Laughs.

Glenn: I'm scared of them. They have a ton of money and they are really well run. They are Godzilla. It is a complement to call them Godzilla. They are well run with a great CEO."

Brad: "What is the Future for Redfin in 5 years if Redfin is successful?"

Glenn: "I am the world expert at trying to automate the agent out of the business. We tried that 10 years ago. People want advice. Now, my best friends at the company are real estate agents.

The long term plan for Redfin is mortgage, title, i-buying...all comes together so that someone who hires a Redfin Agent can buy a house, that he or she couldn't get with any other agent because we are able to lay our hands on money that no one else can, because we are able to liquidate their house faster than anyone else can, because we can close before anyone else can."

Brad: "You are a gift to the Industry, and part of that is because you are controversial, and that is good...we love you --..keep up the good work because these people love you."

Saul's Note: I spent some time in conversation with Glenn about 8 years ago and he seemed like a guy who is fun to be around...passionate and driven.

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Saul Klein

In 1948, doctors told my father that his life aboard submarines on war patrol in the South Pacific and the depth charging he experienced had rendered him sterile. Although controversial and not widely applied, he was treated with an Ayurvedic therapy called “shivambu.” If you are unfamiliar with this term, I recommend you Google it because against all odds, I came to exist.

That was a loony segue into my life but is a fitting precursor to a career that would be just as incredible.

Like my father, I joined the Navy. However, due to a medical inconvenience, I was honorably discharged after 6 years of commissioned service, all on Sea Duty. This was an opportune misfortune that led me down the path to a successful career in real estate. Both my father and grandfather flirted in real estate brokering and flipping part-time, and I followed suit but making a lifelong career out of it.

With over 40 years in real estate, it is impossible to talk about my experiences in this small window. But I can proudly say that I am well-recognized as an industry pioneer, especially in real estate syndication and education, and one of the few luminaries that paved the way for real estate’s transition to the online world.

Some highlights of my life’s work:
● Co-created ePRO, technology certification course that certified 70,000 students
● Created the first online communities for real estate professionals to network, learn, and sell
● Created "Opt Out" Listing Syndication, aggregating over 1.4 Million Listings in 18 months
● Built the #2 National Listing Syndication Service, Point2 Technologies, sold to Yardi in 2010
● Founder of the California Association of Buyer’s Agents
● Member of the first REALTOR.com Team, pre-IPO, responsible for obtaining first 500,000 listings
● Helped Zillow and Trulia build up their MLS data inventory

Today I continue to lead efforts that bring new technologies to the real estate industry. Feel free to reach out and learn more.

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