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edfin is experiencing rapid growth, with its agent count increasing by 16% this year due in part to the company's new compensation plan, Redfin Next. The program, which offers high splits and covers business expenses, is set to go national on October 27, a month ahead of schedule. According to Jason Aleem, who leads Redfin's real estate agents, the push for Redfin Next has led to the addition of over 280 new agents since the start of the year.

    Aleem believes that the real estate market will begin to turn around in the spring and is focused on preparing the company for this upswing. He expects hundreds more new agents to join in the coming months, citing the program's attractive benefits, including high splits, business expense coverage, and comprehensive healthcare and retirement plans.

    The Redfin Next program is also driving the formalization of Redfin teams, which Aleem sees as a key advantage in navigating National Association of Realtors (NAR) rule changes. Teams will allow agents to collaborate more effectively and provide better service to clients, making the job more enjoyable and sustainable.

    Aleem notes that adjusting to NAR's policy changes has been relatively smooth, likening it to the Y2K scare when computer systems were feared to fail on January 1, 2000. He believes Redfin is well-positioned to adapt to these changes, particularly with its transparent fee structure and online buyer agent agreement.

    As commission fees are expected to compress due to increased competition and consumer education, Aleem is confident that Redfin's model will become more attractive to customers. With the company gearing up for a booming spring market, Aleem aims to have Redfin ready to take advantage of the upswing by February or March next year.