Matt McIlwain is a managing director at Seattle-based Madrona Venture Group, venture capital investors in Redfin. In an article by Jeanne Lang Jones in the Puget Sound Business Journal (Nov. 10, 2006), Jones reports that Matt McIlwains used Seattle’s Redfin to buy their new home, but turned to Windermere Realtor Barbara Shikiar to sell their old home.
“When the consumer is more online savvy and can do their own research, a site like Redfin can lower the cost on the buyer agent’s side,” McIlwain said. Despite multiple offers on the home they wanted, Redfin helped them win the bidding.
“They did a terrific job,” he said.
But faced with the prospect of two mortgage payments, the McIlwains hired Shikiar because her “deep experience” in their neighborhood could help them set the right price on their house and get the word out quickly that it was for sale.
There’s no substitute for experience, said Shikiar, a 28-year veteran Realtor.
The home was under contract for sale in a week.