Quantcast Redfin - Oh, It’s So Confusing!!!
Search by tag or site Login to my blogStart my own blog















TheMoneyBlogs
Home
About
Create your own blog
Contact us
Vote for this blog!

The Boston Real Estate Blog

I am an independent real estate broker, focused on the residential real estate market in downtown Boston.

Redfin - Oh, It’s So Confusing!!!

Posted on 06/07/2007 17:47:55 | Link | Post Comment

A reader just left this comment:

Hi there — I read your blog quite regularly and find it very interesting - thanks for your information and your perspective.

This business about Redfin and the TN area Realtors finding ways to block them out concerns me. I think that this is already on its way to happening here in Boston. Redfin has only been here a few months, and from where I sit, it’s not going so well. I’ve been hearing that clients and potential clients of Redfin are having a really hard time getting local agents to understand the Redfin concept.

Even agents who have never heard of Redfin are having problems with them. It’s not the company name and reputation that is the issue, it’s the business model.

These agents are so ingrained in the classic ways of real estate, that they can’t wrap their heads around what Redfin clients tell them. It seems like the biggest problems are happening when Redfin clients are trying to gain access to properties by going through the listing agent. If there is no open house, Redfin clients are encouraged to call up the listing broker and schedule a showing through them. These listing agents get all riled up when they hear that these home buyers ARE working with a buyer’s agent, but that they want the listing agent to show the house w/o the buyer’s agent present. It’s as if a “does not compute, does not compute” flashing red sign goes off in the listing agent’s head! To them this is just ALL WRONG.

These agents are used to things working a certain way - if THEY show someone a house, then THEY are entitled to the commission for doing that. Plain and simple. They are doing the “work”, so the money goes in their pocket. They don’t care that it’s actually Redfin that will do all the work from that point on… and that it will still result in them getting their selling commission.

When I first heard about Redfin, I thought the potential danger would be that the Redfin name would be smeared all over town and that is how word of mouth would get out and Redfin would be blacklisted. But it actually seems like the process is what is being shut down, not the name!

I hope what happened in TN does not happen here, but if it does, I certainly won’t be surprised.

What do you think?

More posts about: 
Stock Quote or
Examples
Morpheus Trading - Thu Jul 17, 2008 01:15AM
NOTE: Please click on the charts below to enlarge them if th [read more]
Morpheus Trading - Tue Jul 15, 2008 08:25AM
NOTE: Please click on the charts below to enlarge them [read more]
Morpheus Trading - Mon Jul 14, 2008 02:18AM
NOTE: Please click on the charts below to enlarge them if [read more]

PREMIER SPONSORED LINKS

Most Visited Blogs | Most Popular Blogs | Most Recent Blogs | Contact Us | Terms and conditions | Privacy Policy

The columns, articles, message board posts and any other features provided on TheMoneyBlogs.com are provided for personal finance, education and investment information and are not to be construed as investment advice. Under no circumstances does the information in this content represent a recommendation to buy, sell or hold any security. The views and opinions expressed in an article or column are the author's own and not necessarily those of TheMoneyBlogs.com and there is no implied endorsement by TheMoneyBlogs.com of any advice or trading strategy. The analysts and employees or affiliates of TheMoneyBlogs.com may hold positions in the stocks or industries discussed here. Your use of this and all information contained on TheMoneyBlogs.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

Copyright © 2008 The Connors Group, Inc.