Fri 5 Jan 2007
Worth repeating
Posted by Marlow Harris under Real Estate
Kevin Boer featured this lovely ad on his site the other day in this story “And Redfin wonders why some traditional real estate agents are, um, “hostile“?”
Why do they do this? The real estate industry relies on trust, cooperation and assurance that each party is acting in good faith. They are not Realtors and the implication of this ad is, um, well, there’s just no other word for it…..
January 6th, 2007 at 12:07 pm
Speaking of Redfin’s Google Ads, the one I find ironic comes up when typing in “discount Seattle real estate”. The #1 ad is from…guess who, Redfin, under the title “Seattle Discount Broker”.
Yet, Mr. Kelman keeps insisting vehemently that Redfin is not a discount broker.
January 6th, 2007 at 1:28 pm
I had a pact with myself that I would not blog about zillow. I broke it recently after holding out for well over a year.
I will replace it with a pact that I will not blog about redfin. I will do better this time.
January 7th, 2007 at 6:40 am
I haven’t blogged about it either… but I will say that I just uploaded another listing to the MLS with the statement that “CO-OP COMM IS 1% IF WE SHOW YOUR BUYER THIS PROPERTY”
I don’t know about you guys… but “we’re not going to take it”
January 8th, 2007 at 3:18 pm
That is the answer, Doug!
January 9th, 2007 at 8:52 pm
It truly is the answer, Maureen.
If they don’t like the compensation - too bad. I don’t like their business model…
And don’t worry - I have it in the listing agreement with the blessing of the sellers.
January 11th, 2007 at 2:12 pm
what the hell do you do as the listing agent then?
January 15th, 2007 at 9:45 am
Kristi, I think other folks have moved on here, so I’ll answer your question.
Listing agents help sellers determine a sales price, prepare the home for sale to maximize sales price, “list” the property for sale and market the home. They represent the seller’s interests and protect them from liability in the home sale and they refer them to experts, if needed. When an offer comes in, they help the seller negotiate the sale and follow the sale through closing.
Listing agents and sellers are under no obligation to show unrepresented (and perhaps unqualified) individuals the house. If an individual DOES have an agent, they should be working with that agent to show them houses, with pre-approval letters in hand.
Buyers represented by Redfin or any other company, should contact their own agents for representation.
January 19th, 2007 at 4:50 pm
marlow,
thanks for the info. i haven’t bought or sold a place yet so just trying to figure out the why everyone is always bashing on redfin. it seems like the listing agent would at least give people searching on redfin a chance to tour the place (but that’s why you should be getting the redfin agent to walk you through)…
January 19th, 2007 at 7:29 pm
Exactly!