Redfin has hired Daryl Fairweather as its chief economist, the company announced.
Fairweather was a former senior behavioral economist at Amazon who led a team of analysts and economists focused on improving employee performance and engagement.
“Redfin isn't just focused on purely academic questions about real estate, but the practical decisions people make about buying this or that house, now or later, for less than the asking price or more,” Redfin CEO Glenn Kelman said in a release. “With a doctoral degree in behavioral economics, Daryl is the perfect chief economist to understand the animal spirits that send the market shooting up or down, and the instinct for truth-telling to guide people on what to do no matter what happens.”
“Just as important, her work at the Federal Reserve interviewing people who lost their homes to foreclosure in the financial crisis has given her a human connection to the broad range of issues tied to the housing market: where Americans are choosing to live, when we start families and why, if we feel rich or poor, and whether our neighborhoods restrict or expand our opportunities,” Kelman added.
Fairweather will lead Redfin’s team of economists and data scientists responsible for providing compelling reports on real estate market, homeownership, and the economic factors shaping where and why people are buying and selling homes. She’ll work closely with Redfin business leaders and agents across the country to understand the behavior and mindset of homebuyers and sellers.
“The housing market is a perfect example of how psychology affects the economy,” Fairweather said. “For most of us, buying a home is the biggest financial decision we'll make in our lifetime, and yet traditionally, homebuyers have little experience and limited education on the process or the market. Emotions play a large role in real estate. I’m excited to use Redfin’s unique data to understand these dynamics, and ultimately, educate consumers so they can feel confident and informed in their decisions.”
Prior to Amazon, Fairweather served in economist and analyst roles at Intensity Corp., Morgan Stanley and the Federal Reserve Bank of Boston. She has a Ph.D. in economics from the University of Chicago, and a bachelor’s degree from MIT.