Anyone on the hunt for their dream home lately knows Puget Sound home prices continue to shoot up. Now, many wonder whether an online discount broker could transform the industry.
Seattle-based company Redfin went public Friday, and by closing bell the stock had risen 44 percent, and the company’s new value was about $1.7 billion. Some experts are saying the site has no chance of overturning the well-established real estate market, while others say the IPO could be a game changer.
“The ‘Amazon of real estate’ — they certainly could be if they expand to enough markets. They could be that go-to place to get that service,” said Jeremy Ross.
The Magnolia man was house hunting on Saturday, the day after he bought a few shares of Redfin.
Ross says after seven years of thinking about renovations, the ease of the real estate app helped sell him.
“This time we’re using exclusively Redfin. The app is easy to use. You can just find a house you want to see, select schedule a tour, and they’ll…