5,583,278
no.... the luxury home market is too market savvy to fall for that.... unless they have a couple of chevys in the driveway....
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Tony and Suzanne Marri...
Scottsdale, AZ
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Roy Kelley
Gaithersburg, MD
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Nina Hollander, Broker
Charlotte, NC
-
Lynnea Miller
Bend, OR
-
Eve Alexander
Tampa, FL
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Michael Jacobs
Pasadena, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
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Pete Xavier
Pacific Palisades, CA
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
3,164,294
I say this a lot.... other people's business models don't bother me. Sure they might get a share, but I'll get my share too.
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Nina Hollander, Broker
Charlotte, NC
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Joseph Domino 480-390-...
Scottsdale, AZ
-
Sam Shueh
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Ron and Alexandra Seigel
Carpinteria, CA
-
Debe Maxwell, CRS
Charlotte, NC
3,345,091
I saw one of those billboards in San Jose the other day. I do not believe it will make a difference in the high-end market.
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Eve Alexander
Tampa, FL
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Bruce Walter
West Lafayette, IN
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Debe Maxwell, CRS
Charlotte, NC
1,052,211
No! That demo works with people they trust, and are not looking to squeeze a dollar to make it holler.
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
-
Eve Alexander
Tampa, FL
-
Bruce Walter
West Lafayette, IN
-
Ron and Alexandra Seigel
Carpinteria, CA
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Debe Maxwell, CRS
Charlotte, NC
1,502,998
Out here in Ventura County, Redfin continues to be a very small player. Very few listings, only two buyers agents that I have seen in 3 years. I've only seen 2 Redfin listings out here in 3 years (while driving around, not saying there are only two in the MLS). What they don't say in that ad (at least not in large print) is you still have to pass on 2-3% to the other agent, so they end up with a 3-4% commission total.
Saw a great discussion on them last night on Lab Coat Agents. This guy lost a listing to Redfin, it was a very nicely remodeled house and sold for 345k in a couple days. A 600sf smaller house that was outdated listed a couple days after the redfin one went into escrow for 369k and sold in a couple days as well. That owner that saved a couple percentage points on the listing lost at least 25k if not 30k on the price.
For people concerned about the 1% they charge or the 2% that REX charges, they saying goes "anyone can sell a house in a HOT market, when the market cools the cut rate companies usually don't last."
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Nina Hollander, Broker
Charlotte, NC
-
Sam Shueh
San Jose, CA
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Michael Jacobs
Pasadena, CA
-
Pete Xavier
Pacific Palisades, CA
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Candice A. Donofrio
Fort Mohave, AZ
938,537
Christine, maybe NAR will buy Redfin and they will raise the fees! ^_~
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Bob Crane
Stevens Point, WI
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Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
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Candice A. Donofrio
Fort Mohave, AZ
-
Debe Maxwell, CRS
Charlotte, NC
5,230,102
I don't - my clientele wouldn't fall for that - they are loyal and also sharper than to fall for this ad!
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
-
Eve Alexander
Tampa, FL
-
Bruce Walter
West Lafayette, IN
-
Candice A. Donofrio
Fort Mohave, AZ
711,852
The old saying goes "....you get what you pay for..."
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Nina Hollander, Broker
Charlotte, NC
1,622,432
Yes, they take a big chunk of business in my area, especially among first time buyers.
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
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Sam Shueh
San Jose, CA
5,772,575
Christine,
I have not seen this! The luxury arena is a different niche. A
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Candice A. Donofrio
Fort Mohave, AZ
249,105
I was discussing this with one of my colleges today. The 1% listing won't cover the professional photography, the details, open houses or showings. And then you have to question what the buy side commission will be. I'm certainly not shooting myself in my own foot and showing a 1% buy side. Sounds like a test market. My clients may want to save money, but I can't even imagine them dropping everything to accomodate a showing.
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
508,318
There have been discount models for as long as I have been in real estate. Some come and go, others stick around. When it is all said and done the fees somehow end up being very close.
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
2,684,109
Zillow, Redfin, the demise of NAR... lots of things are changing the real estate industry as we have known it.
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
716,049
A sign that they can't get business any other way...
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Debe Maxwell, CRS
Charlotte, NC
-
Nina Hollander, Broker
Charlotte, NC
4,572,183
Discounters will likely be a factor in all industries. The question is why are you(me/we) different?
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
5,216,409
Not for those who have a full definition of full service!
-
Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
7,836,139
No.
I heard a promotion on radio today offering to wave the listing fee of $1,000 for new listings for a new office in DC. No listing fee and 3% for the buyer agent.
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Debe Maxwell, CRS
Charlotte, NC
911,338
I see their annoying ads on tv here. They haven't changes the market or people's thinking much.
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Nina Hollander, Broker
Charlotte, NC
87,920
1,239,901
They have the signs in 26 marketing centers. They are also mortgage lenders.
Rather than stating high price market, let me say very high end estates in SFBA like Atherton, Hillsborogh, Palo Alto etc I saw several listings. It is very disruptive as all high end brokerages have to lower fee to compete. When you talk this lawyer and that esquires reviewing contracts and have signs John Doe esq you know they will be more disruptive taking tradition sales away. Rdfn stocks tanked 1/3 after IPO. CEO stated he does not care, but he wanted to make a difference on the way RE is being conducted. Writings have been on the wall for sometime technology and incentives will change the way conventional industry operates.
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Michael Jacobs
Pasadena, CA
152,204
They are not a real estate brokerage firm, they are a start up tech company trying to disrupt the real estate market. Their business model have lost millions and continue to lose each year. They are only in business because of investors who keep pumping money into it just to stay in business. I don’t know how long they can keep this business model going, but as long as there are investors willing to invest, they will stay. Yes, they will have an impact, we just don't know how big of a disruption and for how long.
Here’s Forbes article!
4,936,705
5,868,554
The word gets out that most are very new agent, so you do get what you pay for..... They are running ads on the TV like crazy around here.
1,712,676
4,800,082
3,071,489
4,434,127
4,319,419
Christine Kankowski North SD and Temecula - discounters have existed in each and every industries.
This does not mean the 'demise' of the industry.
6,393,494
The question is simple, do you want a Great agent, or one that is Desperate enough to work for Redfin?
1,543,823
LOL read the Redfin fine print...it's more than 1%
The airport seems to be a waste of money as a target market. Everyone is zoned out or in a hurry there.
482,547
Christine Kankowski North SD and Temecula I don't think they will. Redfin (and a few others) have been around for a while and don't seem to be out of place. A few will try anything that seems cheaper. Most will learn what that means...
3,988,007
Discount brokers give discount services. Sellers usually figure that out quickly.
3,986,258
Maybe some until word gets out about the type of representation gets out
5,104,931
I doubt it... that's probably not the primary consideration for high end property listings. I'd like to see what they can deliver for 1% in terms of full service and professioal photos.