Last week, we speculated about Redfin’s expansion plans for 2010, citing Portland as one likely candidate. Well, it is now official. Redfin plans to announce today that it is open for business in the Portland metropolitan area, the 11th market for the Seattle online real estate upstart.
But Portland represents a unique challenge for Redfin, and the company’s arrival could be marked by controversy. Oregon is one of 10 states that prohibit real estate brokerages to rebate commissions to home buyers, a cornerstone of Redfin’s value proposition.
Read the full article, “Redfin CEO prepares for fight as company moves into Portland” at Techflash (Fe 24, 2010).