Over the weekend, I had two very well attended Open Houses on Saturday and Sunday on a new listing in Columbia Heights. And by Sunday night we had two offers on the way.
Both buyers were very likable young women who returned with their agents, and both agents were as nice as their clients were. And one of the buyers was represented by a Redfin agent.
While Redfin is growing in this area, they are not yet a big part of the market in Northwest DC. And those of us who work for the older, established firms don't really look down our noses at them, but they are regarded as discount brokers who must be inherently inferior.
Not so fast!
They are target younger buyers who will appreciate the ways they use technology to make finding a home easier. Their website has one of the best search functions around. Their buyers do a lot of their own footwork and often bring the agent in after they've located a place they want.
The Redfin agent who wrote on my listing did a great job. She did come to see my listing with her client and knew a lot about the building. Her offer had impeccably prepared paperwork (often not the case in the offers we see come in). She also included a brief bio for me showing she was a seriously experienced professional, and her client had a letter for my sellers that was very sweet. And I would have love to have worked with her, except that the other offer was just a lot stronger.
But it made me think that we need to keep an open mind about the new business models that are coming onto the real estate scene. And Redfin sort of fizzled at the beginning, but came back on a stronger footing. And as they mature, I think those of us who are "full service" are going to have to work harder to be worth the higher fees we charge!
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