disintermediation: Redfin: Born a Discounter but always knew they were a Traditional - 04/08/08 03:10 PM
Today Redfin announced that they will offer a higher level of buyers service called Redfin Select to a limited number of clients, and for those clients they will be reducing the commission rebate offered.
I hate to see Redfin move their business model away from the edge. The edge is cool, daring, and exciting. They sought to revolution the real estate industry. Their first vision had panache; "no buyers agents", schedule your own showings, drive yourself, and because you are not using a buyer's agent you save a bunch of money.
Redfin Launches Industry's First Online Home-Buying Service: February 6th 2006
"Unlike traditional … (18 comments)
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disintermediation: The ORIGINAL Realtor® value proposition - 01/11/07 04:52 AM
Disintermediation has become a heated topic among real estate agents in the past few years. For some/many, disintermediation is synonymous with the apocalypse experienced by the travel industry. Seemingly almost overnight, travel agents across the nation and the globe saw their livelihood dwindle to embers in a field that had seemed so certain.Within our society, fear has swept across the board and become second nature for even college graduates uncertain about the security of job stability. Fathers, mothers, sisters, and brothers have been displaced by outsourcing, corporate reorganization, and the pace of the information age. Understandably, agents are scared that technology … (41 comments)
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disintermediation: Wikipedia - Disintermediation - Real Estate Industry - "Still in Progress" - 09/05/06 05:08 PM
Wikipedia says that the real estate industry is "Still in progress (due to legal or structural obstacles)" of being disintermediated. Is it right? What would happen if 90% of the real estate agents retired in the next six months?
Would housing prices go down?
Would the 'time on market' go up?
Would transaction costs (commissions) go down?
My first reaction is that housing prices would not decrease. Time on market may actually decrease because with the lowering on transaction costs people would be less concerned about losing money if they needed to sell sooner than anticipated. Real estate investments will be considered more liquid. … (7 comments)
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