While the future of brokerage remains uncertain, after the most recent quarter Wall Street is bullish on the tech upstarts. Though digital firms like Zillow and Redfin posted big losses, revenue soared in the first quarter.
William Blair analyst Stephen Sheldon, who projected that Redfin’s revenue would grow 30 percent this year, said the business model “can challenge traditional residential brokerages for market share without having to take much to perform well in the coming years.”