Seattle-Based Realty Company Redfin Axes Nearly 100 Workers

  According to Geekwire, Seattle-based real state company Redfin has made more reductions in staff.

  Nearly 100 workers were laid off, and some will be offered agent positions

The company, which was founded in 2004, with the goal of "disrupting" the traditional real estate business, has laid off about 100 workers, mostly from its Concierge Service, which helps homeowners set up, stage, and prepare their homes for sale.

Geekwire reports some of them will be offered agent positions. Some support and sales managers were also affected.

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This comes on the heels of other staff reductions, in 2023, 201 workers were let go in April.

According to Geekwire:

"Redfin shares rose this week after it issued a report showing that sales of existing homes rose 0.6% month-over-month in July.

Record-high home prices and a continued housing shortage have kept the housing market tepid. Even with mortgage rates dropping to a 15-month low recently, home sales haven’t budged much."