Comments on: Redfin Secures Another $12M in Financing

By: taux hypothèque

taux hypothèque — Sat, 08 Nov 2008 16:38:55 +0000

The eternal question, will e- this or that come to affect significantly this business or that. The answer of course is yes, but not in the way that you imagined. 12mil in financing should not be sniffed at, as insignificant.

You raise some common sense arguments though.

By: FoREM Joins Inman? Or Redfin buys FoREM? at The Phoenix Real Estate Guy

FoREM Joins Inman? Or Redfin buys FoREM? at The Phoenix Real Estate Guy — Tue, 02 Oct 2007 14:17:31 +0000

[...] While on FoREM, I did notice that it appears Redfin, not Inman has bought up all the advertising real estate. (Just hassling you Joel, monetize that thing to the hilt… Redfin doesn’t bother me in the least.) [...]

By: April Groves

April Groves — Tue, 24 Jul 2007 21:00:56 +0000

True Believer – I am glad you stopped by and more glad you asked an excellent question.

I am not a spokesperson for the NAR, so I can only answer for myself and the agents I do business with.

The MLS is not so much closed – at least so far as I can tell. Most agents I know have the IDX search on their website that went straight into the MLS. I had it for a long time until I rebuilt my site – you didn’t even have to sign in or register to use it – it was just there.

I have not yet paid to integrate the MLS service into my personal website, so I have added tons of self search links – from my own company to Trulia and Zillow – again, no sign up by me required. You can go to my site and search to your heart’s content – all I will ever know about you is somebody in that general vicinity was there.

I have also spent quite a bit of time showing prospective clients everything in the MLS – without a contract and without payment or the suggestion of a relationship – I like to call it service.

And you can’t compare the SEC to the NAR to the FDA to the DEA to the NCAA – they are all different animals.

I hate the fact that you have such a bad taste in your mouth for the real estate industry, but your thought that I – or most agents I know, would do anything – is just not true. Most of us have not in anyway attempted to stop any of the other business models from succeeding – I, for one, have wished them great luck. I appreciate new ideas and consumer choice. I also know that the clients I have worked with appreciated the client versus the consumer relationship. For those that prefer the other, I am glad Redfin is there to accommodate them.

Jay – sorry I took up so much of your space and linky loved myself in the comments…

By: True Believer

True Believer — Tue, 24 Jul 2007 20:43:12 +0000

I wanted to respond to the comment by April. If you really believe in a ‘right to choose’, why do realtors protect access to information about listings so carefully? Why are you being sued by the DOJ? The MLS is a closed, uncompetitive marketplace that only benefits agents. Try and imagine if stocks were bought and sold like houses. The SEC would never allow the games you play.

The bottom line is realtors will do *anything* to protect their undeserved 6% commission.

By: Charleston Real Estate Blog : And Redfin says...

Charleston Real Estate Blog : And Redfin says... — Thu, 19 Jul 2007 22:15:35 +0000

[...] coffers faster than the Titanic took on water and sunk.A little about their business model from Jay Thompson writing at The Phoenix Real Estate Guy. "If you find a home you like and want to place an offer, Redfin will represent you in the [...]

By: Redfin and Real Estate Blogs: An Examination | Phoenix Real Estate and Homes for Sale - Dalton’s Arizona Homes Blog

Thu, 19 Jul 2007 16:09:54 +0000

[...] I fear Redfin? Like Jay, not whatsoever. There’s no reason to fear a company being kept afloat by venture capital since, at some [...]

By: Chris Butterworth

Chris Butterworth — Thu, 19 Jul 2007 00:22:23 +0000

I’m not sure how any of the e-real-estate models is going to ultimately succeed. I have a couple of clients right now who are both very intelligent, well educated, tech savvy, thorough researchers, and generally the kind of people who would be most likely to use e-services.

Neither of them would think for a second of trying to handle their sale & purchase on their own – we talk daily, and each day I’m able to impart wisdom gained through experience that you just can learn “on the web.”

I think it’ll be a long time before the people in the “latter camp” go away!

By: The Feed Bag

The Feed Bag — Thu, 19 Jul 2007 00:16:56 +0000

[...] Grief, everyone took two Redfin pills and called themselves in the morning. Though my favorite of [...]

By: Kris Berg

Kris Berg — Wed, 18 Jul 2007 15:18:33 +0000

Kick ass, indeed. Redfin has been in San Diego since the beginning of this year, yet I have seen no real evidence. I am actually looking forward in a twisted sort of way to the first time we find ourselves on opposite sides of the same transaction. I do not fear them, as I know that their target audience is not mine. That, and I honestly think they will fail. Having said that, I admire their tenacity.

By: April Groves

April Groves — Wed, 18 Jul 2007 09:35:55 +0000

I am with the “latter option” camp myself.

In almost every market I can think of, there has always been “discount” counterparts to the “premiere” providers. I don’t mind these things. Why? Because I believe the consumer has the right to choose.

I have been maintaining a home for quite sometime. When I go to the grocery store, I have learned what can be purchased “off brand” and what cannot while still maintaining effectiveness and quality. This is not much different. Great professionals will continue to thrive because clients understand their value.

Continue to provide value, continue to be in business.