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Don't Peak At Google, But REDFIN just launched in Atlanta

By Joshua Jarvis

Real Estate Agent with Virtual Properties - Atlanta Real Estate 255736

December 15, 2009 12:48 PM

380 Spyglass Bluff Who's that walkin in your front door?

I was already a little thrown off by MOVOTO, but if you check your listings you'll see a new (old) kid in town has a quick search for my new listing at 380 Spyglass Bluff shows that Redfin as number 2 (when I checked) on Google. I'm not even on that page for the listing. It brings back the question about how we feel about that. Do we get upset that Redfin, Clickspace or Movoto, or trulia can out market our listings or are we happy that it gives our listings more exposures.

I'm fine with Trulia, Realtor.com and others because they at least FEIN that they want to HELP agents, but Redfin is a brokerage that is outclassing the local agents.

Dont get me wrong. I am not suggesting anything should change. What I am suggesting is that ...

IT'S ON

Local Brokerages that want my license hanging in their office better take note. If you can't out market our listings vs a large national company then we have got problems. GOOD LOCAL content should aways win out!

We'll see, to me REAL ESTATE JUST GOT FUN.

Re-Blog

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Ryan Ward

Keller Williams Realty Consultants - Atlanta, GA

Refin is a model that relies on uninformed consumers who don't understand the need or value in real representation. That's fine for some, but, they don't intimidate me and I venture to say that their "value" is easily overcome by most experienced real estate professionals. They will have trouble in Atlanta with the large number of internet savvy agents online.

I saw that you are one of their agents. Redfin will not outclass local folks.

Dec 23, 2009 11:29 PM

Ryan Ward

Keller Williams Realty Consultants - Atlanta, GA

Actually, I'm not so sure that they will be able to outclass what Duffy does in the discount market and I'm pulling for Duffy on this one!

Dec 23, 2009 11:32 PM

Ryan Ward

Keller Williams Realty Consultants - Atlanta, GA

Your listing on Redfin is also advertised with another "local expert" on the right hand navigation bar with a big blue button that says "Work With James". It also still has no photos of the listing...

Sorry, I'm not buying them as an internet leader...they are also now #8 on the page for the address - not that the address is a supremely important search term, but I think you may be over blowing the importance of it.

Dec 23, 2009 11:47 PM

Joshua Jarvis

Virtual Properties - Atlanta Real Estate - Duluth, GA

Moving Families Forward.

Ryan,

Thanks for the comments.

- You're right about the address not being that important. It'll be the long tail that keeps us in business per se. I was just amazed that the listing pages were so high overnight.

"Refin is a model that relies on uninformed consumers who don't understand the need or value in real representation."

I think you have your information wrong. Redfin's model is very much like the Showing Agent model shown at Mega Camp (at KW) this year. It's a brokerage that leverages showing agents to reduce "overhead" and they use the "rebate" as a means to generate leads. Also, the partner agents (myself) are simply "referral" partners. If I have a buyer in Alpharetta that I can't help, I will send them to you - Ryan - and collect a referral fee, Redfin's simply doing that as well.

As far as internet leader, the idea of the post was that I definitely think that the OPs at Keller Williams are going to have to tactical localized internet strategies otherwise, companies that spend their money on net optimization, such as this, will win that battle.

Dec 27, 2009 09:33 PM

Ryan Ward

Keller Williams Realty Consultants - Atlanta, GA

Hi Joshua,

You are correct about KW in that they are 5 years behind on the internet model, but I think the showing agent model is equally as bad - from a customer service perspective. It's only my opinion, but I think it's a terrible idea. It's also meant to be a way to leverage yourself. The only thing it leverages is my level of service right out the door. I would go get an agent who was willing to actually spend the time required to care about what I liked and didn't - which can only be done in person. It's for this and a number of other reasons that I will not be using a "showing agent" and partially why I think that the Redfin model is limited.

Dec 27, 2009 10:20 PM

Joshua Jarvis

Virtual Properties - Atlanta Real Estate - Duluth, GA

Moving Families Forward.

Ryan,

I understand your perspective. The challenge for me (since I will be using a Showing Agent) is to make sure the client receives the service and to make sure my showing assistants are more knowledgeable about the homes, neighborhoods, etc than I ever was. It allows for specialization. It also allows me to be a better agent by focusing on more powerful activities. Anyone can show a home, but not everyone can navigate the transaction to a successful closing with the terms of your client held at the "helm."

I wouldn't agree with it either, but my business became more volume this year creating a need for it.

Dec 27, 2009 10:26 PM

Ryan Ward

Keller Williams Realty Consultants - Atlanta, GA

Well, good luck with that model, but I don't agree that anyone can show a house. It's where you find out all of the important likes and dislikes about a client. It's how you knock certain homes off of the list and it's where you distinguish yourself as a professional by helping consumers understand the certain values that are floorplans, locations on lots, potential problems and tons of other things that go well beyond opening a door. If you don't know much about homes, you can't really show a house well. It's my belief that a showing agent continues to devalue our industry (it devalues real estate agents). It's also a way for Keller Williams to try to provide a way for top producing teams to stay with them rather than go somewhere else that might make more sense financially as the team grows (like starting their own brokerages which is what has happened all over Austin and may be the model for the years to come). Something to think about as you grow.

We are growing - so I have buyers agents who are dedicated to the client from start to finish. This way, the buyer gets better service from start to finish from someone who they have shared all of their previous conversations with rather than a little from me and a little from someone else. Real estate is more than clinical. The showing agent model is very disconnected and will have even less success with internet leads as they definitely need their agent to be able to prove that they are able to help them.

That's my opinion and I'm sticking to it :)

Dec 27, 2009 10:47 PM

Joshua Jarvis

Virtual Properties - Atlanta Real Estate - Duluth, GA

Moving Families Forward.

Ryan,

Thanks again for the comments. It IS something to think about. I'm working with Showing Assistants now and so far, so good. I felt it would be good to try this before jumping in with a full fledged buyer agent. This is allowing a new eager agent to learn more about the market and the area meanwhile I am there "virtually" for all of the questions. It also helps with availability. It's more of a tag team model than a disconnected one.

Not sure about your It's also a way for Keller Williams to try to provide a way for top producing teams to stay with them rather than go somewhere else that might make more sense financially as the team grows" comment. I could easily take this model to any of the boutique companies around Atlanta.

Dec 27, 2009 10:53 PM

Ryan Ward

Keller Williams Realty Consultants - Atlanta, GA

Sorry, I mean stay with KW as opposed to starting a boutique of their own, not joining one...

Dec 27, 2009 11:01 PM

Joshua Jarvis

Virtual Properties - Atlanta Real Estate - Duluth, GA

Moving Families Forward.

I've thought about it a lot myself. In fact, the whole MREA model, I think encourages starting your own business not staying with KW.

Most top producers end up leaving KW unless they end up with a slice. I just want to be big enough to have that option offered to me.

Either way, I appreciate your comments (truly!) and look forward to more soon!

Dec 27, 2009 11:07 PM