REMAX and Redfin Really Million Dollar Year Day 3

By
Real Estate Agent with YourStories Realty Group powered by Castles Unlimited® MA# 9517963
https://activerain.com/droplet/5hJG

REMAX and Redfin Really Million Dollar Year Day 3. It was announced today in the press that RE/MAX, a franchise system, is collaborating with Redfin, the discount internet based brokerage system. Is this not another sign of the changing real estate industry?  There are forces at work here disrupting the business.  The internet provides the consumer with information about houses, neighborhoods and valuations. These were and still are a province for the professional agent.  While the consumer is armed with a plethora of information trying to find an answer that is fully informed by someone who is not a daily professional in the field is a daunting task. The value to the consumer with the internet based

brokerage like Redfin is that you pay 1% less commission on average.  Commissions are always negotiated and never set, that is against the law, and negotiated amounts are often in the 0% to 6% across the country for residential real estate.

RE/MAX, a franchise, charges it's broker/owners a fee for the exclusive in an area.  The owner/broker charges the affiliated agent a fee for their bricks and mortar locations along with some other fees. Redfin, since it is a virtual company charges no ongoing fees for the agent. They also pay agents for their piecework of showing properties to buyers and sellers. The cash in hand at the moment of the work is attractive to a discount agent as they learn the business, or just don't want to work hard in the business.  Redfin is built on gathering leads and using them for their agents, now they are going to share they with RE/MAX agents, what's up with that?  How will this change affect you if you work for either of these companies? Are you seeing the changes.

In the end, no matter what there will always be people who are ok with working with discount people for the savings. There will always be people who want professional service and will pay a professional fee to that person. YourStories Realty Group joined Castles Unlimited this week because I see the changes and I want to work with people who need professional services by an experience person who listens for a living. REMAX and Redfin Really Million Dollar Year Day 3

Posted by

Larry Lawfer, Realtor®YourStories Realty, It's all about you,

Larry Lawfer

Partner

Realtor®, Director of Marketing

YourStories Realty Group powered by Castles Unlimited®

837 Beacon St

Newton, MA 02459

larry@yourstoriesrealty.com, 617-774-8292

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Rainmaker
5,224,297
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Larry Lawfer I'm not interested in working with a discount company.... we're listing agents and our marketing is all in place....we earn out commission and they all pay it...we don't lose listings.... 

Mar 21, 2019 06:07 AM #1
Rainmaker
1,763,342
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

I am glad that you have joined Keller Williams - the Redfin model is not my style

Mar 21, 2019 06:38 AM #2
Rainmaker
51,187
Krista Jenkins, REALTOR®
klm Real Estate - Lubbock, TX
Residential sales and retail & office leasing

My broker always say, "there is a butt for every seat", and he is right. In life in general, I tend to ignore "the sky is falling" alarmists. The industry is changing, but ours is not the only one. Technology has changed things for a lot of people in a lot of industries. Perhaps our industry should be doing a better job of raising the bar in education and competency. There is a very low bar to become a real estate agent, and I think it diminishes the importance of what we do. Couple that with cutesy celebrity commercials about "finding the home of your dreams", it makes us look irrelevant. It is such a small part of what we do. I would say navigating land mines is a better description, but the public does not understand that.

Mar 21, 2019 07:02 AM #3
Rainmaker
2,057,000
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Larry -  rather than discussing the pros and cons here there is a teachable moment.  That is that change is inevitable.  Be ready to change and get in front of change or you will be disrupted.  That applies to every business.

Mar 21, 2019 12:17 PM #4
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Larry Lawfer
YourStories Realty Group powered by Castles Unlimited® - Newton, MA
"I listen for a living." It's all about you.

Wise counsel indeed Grant Schneider as always. Change is constant. Adapting and growing is a choice and a path. I care about the communites, I care about my industry, I care about my colleagues. I am going to talk about that for several months right now.

Mar 21, 2019 06:29 PM #5
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Larry Lawfer

"I listen for a living." It's all about you.
Storyteller Marketing changes the game, call here now.
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