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Have You Heard of Home Gift? It's Redfin Meets the Relocation Model

By Brian Brady

Commercial Real Estate Agent with Matthews Capital Markets NMLS 2415712

February 09, 2007 06:41 PM

I had a chance to talk to Mark Sennott, President of Home Gift, this week. Home Gift is an affinity marketer much like MBNA. MBNA started as a credit card marketing division of the old Maryland National Bank. Their model was to offer credit cards to alumni association members that were “branded” as the official card. MBNA then rebated a portion of their income to the alumni association. Joe College felt good about racking up the old debt because he was supporting State U.

It was a wildly successful idea. It was so successful that MBNA spun-off from Maryland National Bank in 1991 in a public offering.. They grew to a 12% market share of all credit card customers before being bought by Bank of America in 2005.

Enter Mark Sennott. His company offers a consumer access to a network of real estate agents and mortgage companies who are...

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William Collins

ERA Queen City Realty - Scotch Plains, NJ

Property and Asset Management

Brian,

Thanks for the post. I had not taken the time to read up on Redfin. Thanks for a well written and concise overview. I review the concept more. After all we pay referral fees for business we otherwise would not have had.

Feb 09, 2007 10:50 PM

Sharon Simms

Coastal Properties Group International - Christie's International - Saint Petersburg, FL

St. Petersburg FL - CRS CIPS CLHMS RSPS

We could also work directly with the client and offer to donate a portion of our commission to a charity of their choice. Actually, we donate a portion of each commission to Children's Miracle Network, but very often forget to mention this to our clients.

Feb 10, 2007 01:01 AM

Darren C. Douglas

Oxford Residential Advisors - Tucson, AZ

I've been doing this type of thing with my buyers, giving cash from my commission at closing, but I'd love to be affiliated with a national program. Thanks!

Feb 11, 2007 06:36 AM

Stefan Scholl

Buyer's Broker of Northern Michigan, LLC - Petoskey, MI

Northern Michigan Real Estate

Hey, who's that handsome guy up in the corner wearing the Sellsius shirt?

Home Gift sounds like another lead aggravator to me, adding zero to the transaction but skimming a nice referral fee right off the top. And for all of their supposed charitable intentions, it appears as if the consumers who participate don't have to donate a dime of their rebate to charity. Nor does it appear as if Home Gift donates any of their cut (which they conveniently don't advertise what their cut is) to charity. No thanks.

Feb 14, 2007 03:06 PM

Kaye Thomas

Real Estate West - Manhattan Beach, CA

e-PRO, Manhattan Beach CA

I'm with Stefan...these guys all scream about transparency but rarely practice it.. I would rather give the money to my client.. if they want to pass it on to a charity.. that's up to them

Feb 17, 2007 05:14 AM

Have You Heard of Home Gift? It's Redfin Meets the Relocation Model

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