Redfin is Racist

[Anonymous]

Anonymous wrote:Welp. Deleted my account. The issue I have is that under the traditional realtor system it seems like you can always find someone to take any listing and Redfin is attempting to disrupt that while leaving a hole in the market.

How is there a hole in the market when, as you say, you can always find someone to take the listing? In the end Redfin needs to be able to pay their employees.

[Anonymous]

Anonymous wrote:Basically being sued for their racist policies. They decided to not take homes under a certain list price. Black and Hispanic neighborhoods traditionally have lower home prices. If effect it is jacking up the cost to buy and sell homes in black neighborhoods as higher commission agents are needed to sell.

Thoughts?

So, did you actually read anything about the lawsuit, or just make up your own version of facts based on a clickbait headline?

The lawsuit is premised in large part on the fact that Redfin sets a higher minimum price threshold in non-white areas than white areas. For example, the lawsuit notes that the minimum price in the City of Chicago is $400,000, while in the predominantly white neighboring DuPage County, the minimum is $275,000. Likewise, in City of Detroit, the minimum price is $700,000, whereas in the rest of Wayne County, the minimum price is $250,000. In addition, the lawsuit notes that Redfin in predominantly non-white areas, Redfin has denied its services even above the region's minimum list price, whereas in predominantly white areas, Redfin will engage in a case-by-case analysis to allow listings below the minimum list price.

The lawsuit also explains that this practice is particularly problematic because Redfin won't even provide a partner agent option for potential buyers in these areas.

[Anonymous]

“ Racism is a deliberate policy aimed to advantage certain groups at the expense of others. It is not any policy that might inadvertently have a differential impact on different groups due to their differing patterns of income and/or wealth.”

Agree.

[Anonymous]

Anonymous wrote:“ Racism is a deliberate policy aimed to advantage certain groups at the expense of others. It is not any policy that might inadvertently have a differential impact on different groups due to their differing patterns of income and/or wealth.”

Agree.

Except that somebody typing that definition into the Internet doesn’t make it true. Adverse impact is a thing.