redfin: Frankly Fun! Part II - 01/08/09 02:26 AM
So I started the story yesterday...  And I want to pay it off.
Let me start by saying that the blogger that shook them up is Frank Llosa.  He is one of the most forward thinking and technically astute brokers in the country... he has even built his own MLS that should be a model for all of the big boys.
He apparently came across the post on Redfin and read my comment... and found his way to my post about the same thing.  It had also occurred to him that their "science" was pretty incomplete.  What's more is that he … (7 comments)

redfin: Frankly Fun! Part I - 01/07/09 04:25 PM
A few months ago (last March) I made a comment on Redfin's corporate blog about what I saw as seriously incomplete "science" in their findings about how much groovier they are than everyone else.
Here is the comment:
Did you take into account seller paid costs, such as seller paid closing costs. I know that I average 2.75% on behalf of my buyers. For a $400,000 house, that equates $11,000 that you say doesn’t matter… only the price matters.
I would say that the total deal is what matters. Of course, then we need to get into post-inspection negotiations and repairs… … (2 comments)

redfin: Here is what happens when you do a hatchet job! - 04/22/08 05:52 AM
And it isn't pretty...
While rolling through Twitter this morning, I came across a Twit by Jay Thompson.  He is a guy I like and respect, and he was busy being VERY pissed off, so I followed it back to see what the hubbub was about...
Enter the Redfin blog and Carol Hian.  She had decided to do a whiny hatchet job on Kris Berg and her canned food drive... ostensibly because of Kris mentioning that Redfin was moving away from its original business model towards one that is more conventional.   
I don't think she really had a clue as … (6 comments)

redfin: The Real Estate Alchemist, Part III - 03/16/08 03:48 AM
This one has been kicking around in my head for a few days.  I read this around the same time that I read the info for the previous installments of The Real Estate Alchemist. (I & II).  As I read it, it was troubling me.  I know that from what I have seen, the limited service brokerages haven't done well for consumers, but here was evidence to the contrary... I had to think a bit...
Here is what started occurring to me...
First, let me toss out a couple of quotes and some links.  These are in chronological order as the … (9 comments)

redfin: The Real Estate Alchemist... Part II - 03/13/08 04:13 AM
Continuing the series...
In this episode, we are going to look at seller offered commission to the buyer's agent.  At the Redfin Corporate Blog, there was a recent post titled Typical is Boring, but When Selling a Home, Effective.  
In the post, they compared days on market and list price/selling price ratios for properties that were shown with buyer's agent commissions above, at and below 3%.  The findings were this:
Homes offering a commission higher than 3% actually had a lower sale-to-list price than homes offering a 3% commission, by about 0.82%, or the equivalent of $4,095 on a $500,000 … (4 comments)

redfin: The Real Estate Alchemist... Part I - 03/13/08 03:37 AM
I decided I needed a new series. 
Redfin has a series they call the "Real Estate Scientist":
The Real Estate Scientist is Redfin's program to develop data-driven best practices for buying and selling homes. This guidance is based on the best academic research and our own analyses of listing databases and website traffic.
In my series, I am going to talk about the reality of their experiments.  When they bring out new info, I'll congratulate them for the finding.  When they trot out old stuff and call it amazing research, I'll call them on it...  In the first part, I will … (4 comments)

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