Glenn Kelman leaves Redfin after 20 years as CEO 

Glenn Kelman is leaving his post as CEO of Redfin — a position he has held for more than two decades.

Rocket Companies CEO Varun Krishna will take over as interim CEO while the search begins for Kelman's permanent replacement.

'I gave it my all'

Kelman announced the move, which he said "was my decision," in a Jan. 13 post on LinkedIn.

"After 20 years, I'm leaving Redfin. I gave it my all!" he wrote.

"I love my colleagues. We saved consumers a billion dollars in commissions. I hope to use all that I learned to do something as good as Redfin, in a different field."

Kelman's post expressed gratitude toward Krishna, who has helped Redfin "play to win," he wrote. Redfin became part of the Rocket Companies behemoth in March 2025 when Rocket acquired the brokerage and portal for $1.75 billion.

"I'm grateful to Redfin customers," Kelman's post continued. "In our early days, you took a chance on us when most buyers and sellers of homes won't take any chances at all. And to Redfin supporters everywhere, thank you for embracing a company that marched to the beat of its own drum."

Kelman a 'true industry disruptor'

In a LinkedIn post of his own, Krishna described the news as "bittersweet" and said he and Kelman "will always be friends."

Kelman is a "true industry disruptor," Krishna wrote, noting that the former CEO transformed Redfin into a "publicly traded real estate titan" that "saved thousands of homeowners money and made the American Dream more accessible."

"I admired Glenn from afar for years as he scaled Redfin and led it through IPO. Then, after the acquisition, I got to see up close the company and culture he built," Krishna wrote. "At the core of everything he's accomplished is a genuine love for his people, his company and his mission. That's what makes Glenn special."

Kelman hoped to be at Redfin 'forever'

As recently as August 2025, Kelman indicated that he intended to continue leading Redfin.

"As long as I feel like I can run around and make things happen in a really fast way instead of sitting on my fanny in a bunch of boring meetings, I am going to be there forever," he said in an appearance on the Playmakers podcast.

He also told podcast host Andrew Flachner that he wants to "do something good" — and that he views housing as "the ultimate good."

Financial struggles suggested a tough road ahead

But doing good at Redfin hasn't been easy — at least not lately.

Financial losses mounted in late 2024 and early 2025, and the company announced in Feb. 2025 that it would lay off hundreds of employees as it restructured its rentals division following a new partnership with Zillow.

Rocket's acquisition, which was announced a month after those plans surfaced, saved Redfin from being "stripped for parts," Kelman said at the time. But employees, he said, were "over the moon" about the acquisition and the companies' shared vision for creating an end-to-end homeownership platform.

Legal threats loomed

Redfin also faced significant legal challenges in 2025. After Zillow announced its new standards for listings in April, Kelman — a fierce consumer advocate who has frequently spoken out against private listing networks — aligned with the home search giant and said Redfin would also block listings that are publicly marketed but not widely available via the MLS. 

Though Redfin hasn't begun enforcing its listings ban, Kelman and the company were pulled into the lawsuit Compass filed against Zillow in June.

Redfin was also recently sued by the Federal Trade Commission over its rentals partnership deal with Zillow, which the agency alleges violates antitrust laws. A handful of states have filed their own lawsuits against Redfin and Zillow over the deal.

What happens next

Krishna is taking the reins as Redfin's interim CEO immediately, though Kelman will stay in an advisory role until April 1 "to help ensure a smooth transition," Rocket said in a statement.

The company will search internally and externally for Kelman's permanent replacement. Rocket said its executive team will focus on finding "a leader who can build on Redfin's momentum and keep moving toward Rocket and Redfin's shared mission to help everyone home."

"Glenn pioneered home search as we know it today and transformed a visionary startup into the Redfin we know today. He built a company that saved thousands of homeowners money and made the American Dream more accessible. We wish Glenn well in his next chapter," Rocket's statement added.