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Fly News Breaks for March 19, 2019
RDFN, RMAX
Mar 19, 2019 | 09:25 EDT
The exclusive referral partnership announced last night by RE/MAX Holdings (RMAX) and Redfin (RDFN) should be mutually beneficial and makes a lot of sense strategically, William Blair analyst Stephen Sheldon tells investors in a research note. The arrangement appears to be a positive development for RE/MAX, and does not appear to have any notable downside, adds the analyst. He feels the partnership is a good sign for the company's overall market position, noting Redfin specifically approached RE/MAX for the arrangement, likely in part due to its leading brokerage position in Canada. Sheldon admits, however, that it is tough to predict any potential financial impact at this point. He has an Outperform rating on RE/MAX and Market Perform rating on Redfin.
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