Redfin is Racist

[Anonymous]

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?

[Anonymous]

It’s about money, not about race.

[Anonymous]

It's true that their policy might have a disparate impact, but they aren't setting the home prices. I'd guess that they've just decided that it's not cost-effective to list homes under a certain price, given the smaller commission they take. They aren't charging more commission for cheaper houses. And they aren't a government agency or public entity. I'm skeptical that this lawsuit will have much success, assuming they can articulate their business reason and there isn't a trove of emails proving that it's just a pretext.

[Anonymous]

Seems like it is more of a class issue than a race issue. The rich get all of the breaks as opposed to the poor, regardless of race.

[Anonymous]

The previous 2 PP don’t understand systematic racism.

You can put systems in place that discriminate even if it makes you more money.

Yes, most housing policies are racist. It’s one of the many things that need to be fixed.

[Anonymous]

Redfin doesn’t have to be “racist” for this to be another way that the legacy of lower home prices compounds over time. Imo when there’s an industry as highly regulated as real estate, it’s worth looking at whether there’s a policy remedy for higher commissions in lower cost areas if that is happening. Idk what it would be, and it’s not necessarily a matter of forcing Redfin to accept lower price listings, but it’s definitely worth looking at.

[Anonymous]

Anonymous wrote:Seems like it is more of a class issue than a race issue. The rich get all of the breaks as opposed to the poor, regardless of race.

This might be true if it weren’t for at least a century of discriminatory housing practices, but that history exists and so this is definitely also a race issue.

[Anonymous]

Why wouldn't they just change their fee structure to include a fixed component?

[Anonymous]

Anonymous wrote:The previous 2 PP don’t understand systematic racism.

You can put systems in place that discriminate even if it makes you more money.

Yes, most housing policies are racist. It’s one of the many things that need to be fixed.

Redfin can be participating in systemic racism without violating the law or even intending to be racist. I both understand systemic racism and believe that this lawsuit is unlikely to succeed.

[Anonymous]

Anonymous wrote:Seems like it is more of a class issue than a race issue. The rich get all of the breaks as opposed to the poor, regardless of race.

As my mom says, being poor is expensive.

[Anonymous]

Anonymous wrote:Why wouldn't they just change their fee structure to include a fixed component?

Because I would guess the point is that there is a floor below which it's not worth their while to take the listing. So, for cheaper houses where, say, one percent of the price isn't cost-effective, the fixed component has to be higher than the percentage commission to solve their problem.

[Anonymous]

Redfin = redlining

[Anonymous]

What do you mean, “take homes”? Their listing agents won’t list them?

Is that an issue with other realtors, too?

[Anonymous]

So I don't know enough about this to make an informed decision yet, but aren't there many more poor white people, and therefore more owners of inexpensive homes, than POCs?

[Anonymous]

Anonymous wrote:The previous 2 PP don’t understand systematic racism.

You can put systems in place that discriminate even if it makes you more money.

Yes, most housing policies are racist. It’s one of the many things that need to be fixed.

They understand, they don't care.