I just read the other day in Inman News that Redfin announced that they had dropped their listing fee to 1% in a number of metro areas, as they put it on their website; "Get Full Service for a 1% Listing Commission." I was shocked and had no idea they offered such low commissions.
Well, the next question I had was, "what will this me to my real estate business"? I am broker/owner of a real estate brokerage in NW Florida where Redfin does not exist, yet. As I read further, Redfin does have a minimum listing fee of around $3000 depending on the market, but on higher-end properties, this is still a big deal.
I would love to hear your personal experiences as brokers and agents when Redfin comes to town.