Comments on: Is Redfin the future of real estate brokerage?

By: cos cobber

cos cobber — Mon, 13 Jul 2009 13:11:09 +0000

Nice find Walt. In an ideal world, I think I would like to FSBO my home and buy with a buyers agent. I always fear my agent isn’t telling me about all the offers or is just in a rush to close the deal and collect the commish….Bottomline, I don’t always trust what my own agent has to say.

By: Retired IB'er

Retired IB'er — Sun, 12 Jul 2009 18:38:12 +0000

Paco,

In my younger days (some might say foolish years), I use to hope for a Republican president and a Republican congress.

Wiser man that I am now, I realize the wisdom in seperating the branches of government among the parties. Gridlock is good for government, it stops the politicians (Rep or Dem) from making too big of a mistake.

So I am all for the Rep. making gains in the mid term elections and breaking the Dem’s lock on both branches of government. However, unless the Reps make some serious changes to their approach (which was the point of my original comment) I think the likelihood of that happening is very, very slim. Hope your Rasmussen poll is right, but I have my serious doubts.

By: Walt

Walt — Sun, 12 Jul 2009 15:06:03 +0000

Dude -
Would you care to retort?
http://finance.yahoo.com/real-estate/article/107302/10-things-your-real-estate-broker-wont-say.html?mod=realestate-buy
Your Pal,
Walt

By: Walt

Walt — Sun, 12 Jul 2009 13:16:02 +0000

Greenwich Gal -
No I wasn’t. I was selling access to Bernie. And everyone knew it. They didn’t start on this due diligence crap until after we found he wasn’t stealing for us, he was stealing from us. Who woulda thunk?
Your Pal,
Walt

By: Midwest

Midwest — Sun, 12 Jul 2009 03:07:39 +0000

Backcountry…I believe the article says they charge a flat fee of $5-7K so if you add the 2.5-3% they recommend for the other broker, on a $2MM home the maximums commission would be $67K vs. $120K at a full 6%. The question is how many people will sell or buy a $2MM home this way.

Where I come from the fastest growing broker for homes over $1MM provides full service and markeing but only charges 4% vs. others at 5-6%. Sellers seem to think that extra 1-2% makes a difference, but only when coupled with traditional service and marketing.

By: anonymous

anonymous — Sat, 11 Jul 2009 23:05:06 +0000

Any middleman, whether a GS M&A banker or a salesman at MB Greenwich or Greenwich realtor, has same dynamics….most suck and are parasites who deserve to be disintermediated by tech/commoditization; however, in my expce, the top <5% of middlemen more than justify their fees in value added via their superb service and/or advice

By: Greenwich Gal

Greenwich Gal — Sat, 11 Jul 2009 21:21:56 +0000

Hey Walt – were you not yourself a “no value added middle man?” You know brokering your fund to fund with all the phony due diligence? Just asking…

By: Front Row Phil

Front Row Phil — Sat, 11 Jul 2009 20:09:36 +0000

The key to survival in a world in which technology threatens to eliminate the non-value added middleman is to … duh … make damn sure you add value. Keep at it, Chris.

By: Paco

Paco — Sat, 11 Jul 2009 17:54:57 +0000

To Retired IB’er: you might want to hedge your position…

Rasmussen Poll (07/09/09): “Voters now trust Republicans more than Democrats on eight out of 10 key electoral issues, including, for the second straight month, the top issue of the economy. They’ve also narrowed the gap on the remaining two issues, the traditionally Democratic strong suits of health care and education.”

http://www.rasmussenreports.com/public_content/politics/mood_of_america/trust_on_issues/trust_on_issues

Just sayin’…

By: BackCountryGal

BackCountryGal — Sat, 11 Jul 2009 17:34:40 +0000

Since Greenwich isn’t in Redfin’s service area, I went to their website and entered the closest zip that is, Bedford, 10506. There are 94 listings, the ones I opened have “Partner Agents”, RE companies that are highly regarded….Houlihan Lawrence, Ginnel, etc. I have to assume there’s something in it for these good companies to choose to be a Redfin partner, likely seeing how many buyers shop online first? I don’t see Redfin eliminating any middlemen, but it may make some hungry agents work a little harder. never a dad thing.

Life is change indeed. This Republican is always on the cutting edge – see my new 4G cell phone?

http://tbn0.google.com/images?q=tbn:MoMc6hPBRVl58M:http://3.bp.blogspot.com/_NVIyqlcHzR4/SPSjNtsqeTI/AAAAAAAADDU/qOct7R1h8zA/s400/oldcellphones3_18_06_08.jpg