Do you think Redfin is the future of Real Estate? *I apologize for the symobls on the other posting if you see that one first :-) Dont know what happened*

By
Real Estate Agent with Keller Williams Realty

 

Question...

 

A fellow agent and I were having a discussion this morning about Redfin. I had mentioned to him that I recently posted a blog on Active Rain regarding commission cuts and he proceeded to steer the conversation towards Redfin. I am sure this is a topic that has been discussed 100 times over amongst Active Rain members, but since I am new to Active Rain, I would love to get other peoples opinions.

This posting is not intended as a Redfin bashing pow wow! I am honestly curious to see what other agents across the counrty think. I have heard some agents who favor the Redfin concept while others despise them. The question that my associate and I were debating was "Do you think Redfin is the future of Real Estate?"

Your thoughts???

Comments (4)

Rob Aubrey
Cottonwood Heights, UT

High volume low margin models seem to work well in a runaway seller's market. In that type of market transactions are plentiful and skills aren't required.  Limited service models were actually profitable then and people bet on that. Because the last seller's market had lasted so long people thought the model was successful. It was not the model that was successful it was the market.

As soon as the market shifted (it always has and always will) the crunch was felt by all especially those that charge less than others.

There is a lot of talk about antitrust... I am convinced that the market has set the price. If a company can come up with a better mouse trap people will beat a path to their door.

I think people under estimate what it cost to be in business today.

These so called alternative models have been around since the beginning of the real estate brokerage industry. If they actually were profitable they would dominate.

 

Jul 24, 2008 10:57 AM
Peter Mann
Keller Williams Realty - Bellevue, WA
Peter Mann Seattle-Bellevue Real Estate Agent

Well stated Rob. Thank you very much for your reply! You have an excellent opinion and I value your words :-)

Jul 24, 2008 11:02 AM
Paul Slaybaugh
Realty Executives - Scottsdale, AZ
Scottsdale, AZ Real Estate

I can answer this one quite succinctly:  No.

Jul 24, 2008 11:04 AM
Peter Mann
Keller Williams Realty - Bellevue, WA
Peter Mann Seattle-Bellevue Real Estate Agent

lol :-) Thank you for you reply Paul.

Jul 24, 2008 11:13 AM