"Redfin is the industry's first on-line brokerage for buying and selling homes, half Century 21 and half E-Trade. This means we know when you want to use the web and when you want to talk to a real person. Our goal is to change the real estate game in consumers' favor by offering you more data, better-performing agents, and a significant commission refund"
This is the bold statement on Redfin's website.
This week I received a call from an out-of-town buyer who wants to buy a condo in Los Angeles. He found me through my on-line marketing and was impressed by the testimonials he read. After a 15 minute chat he asked if I would match the "Redfin deal" of refunding $10,000 - $12,000 of my commission back to him. I paused, and asked if I could call him back so that I could take a quick look at the Redfin Website.
Another bold statement from Redfin: "In major metropolitan areas, our own agents deliver fanatical service and a 50% commission refund; elsewhere our carefully screened partner agents offer a 15% commission credit".
I called the out-of-town prospect back and explained that I am not a Redfin Broker or affiliated partner. Again he asked if I would match their offer of a $10,000 - $12,000 refund of my commission. I confirmed I couldn't and wouldn't - But I did ask him why he called me and not a Redfin Agent.
He replied that he had left a message but that he hadn't received a return call.
..... I explained that when I pay my clients $10,000 - $12,000 to do a deal, I also don't return calls!