[boringg]

They are doing it out of speculation - not improving the efficiency of the market. They thought that they had a lock for a large windfall of profits based on the trajectory of the housing market.

People don't like that because that profit comes at the cost of people who are trying to find homes at a reasonable price. I am happy their model didn't work.

Also I think you assume that their model would be efficient but I don't think it would - you still have to work with all the small mom and pop shops who are doing the actual renovation work and that quality is worker specific. There is no proof that Redfin's model would improve quality or efficiency.

Add in redfin trying to guide the market buyer on the price to purchase with their price forecast mechanism ... which I would not be surprised if they boosted their own properties (speculation, but wouldn't be surprised at all).