The PR machine that is Redfin is rolling again.
Redfin CEO Glenn Kelman appeared on the Today show this morning and he and co-host Meredith Viera proceeded to engage in a conversation jammed full of startling revelations the computer scientists /sleuths at Redfin have uncovered using “The Science of Real Estate”.
Brace yourself folks — this stuff is going to change the way real estate is done.
I’ll just highlight a few things that, according to Redfin, are “based on the best academic research” and will get your home sold faster and for more money.
Are you ready? Here you go …. don’t overprice your property. Be a motivated seller. Market your property online. Foreclosures impact pricing.
Wow! Un-freaking believable! How have we managed to survive this long without this contribution from academia?
You can get all the details and all seven super-saver steps here. Why you can even get a condensed version straight from the National Association of Realtors (NAR) here. And if you want a report with academic-like footnotes, charts and even an appendix, go here!
Better yet, read Greg’s take at Bloodhound.
In the segment on Today, you can hear all of the following pearls of wisdom, and more!
Viera: “The folks at one online brokerage say forget everything your real estate agent has told you” [Not denied in the least by Kelman, naturally.]
Viera: “It (the Redfin study) turns conventional wisdom on its head.” [Boy howdy! Repeat after me... motivated sellers of properly priced homes marketed online do better. It's mind-boggling.]
Viera: “Your company believes that buyers and sellers should be proactive and rely less on the real estate agent - that middle man.” [Not denied -- which is interesting given Kelman's company relies on listing agents to do their buyer agent's jobs. Cut out the "middle man" and Redfin would fall apart at the seams.]
Kelman: “We are computer scientists, we are not salespeople.” [no comment]Kelman: “There are other places to promote your home outside of the MLS, and often your real estate agent isn’t going to do that.” [but what will your computer scientist do?]
You can’t make this stuff up folks. But you can watch it here.
In Redfin’s blog on this subject, Kelman says:
Consumers who have read early drafts of the report overwhelmingly found our recommendations useful and effective. The industry reaction will likely be different. Some will argue that the report substantiates already well-understood tactics, while others will take the exact opposite position, refuting our points one by one.
But the truth is that a discussion of how real estate brokerages can deliver better results, based on data rather than just opinion, is in everyone’s best interests.
I think it would be difficult to refute the stunningly obvious. I’ve got no problem with using empirical data to support already well-understood tactics. But proclaiming once again that you are the first to do something, or going on national television yet again and implying that real estate agents in general are buffoons is just getting tiresome.
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Technorati Tags: Redfin, the Science of Real Estate, it’s madness I tell you!
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{ 13 comments… read them below or add one }
Becky Troutt 12.14.07 at 7:22 pm
Gollie gee he sho’ is a smart fella! Wonder iffin he can walk an chew gum at tha same time?
Thomas Johnson 12.14.07 at 10:51 pm
I think Glenn has a future as an NAR spokesman. If he can get on Today Show on his Venture Capital budget, can you imagine what he could do with the NAR Supplemental PR budget?
IndyAgent 12.14.07 at 11:13 pm
Damn! How did the rest of us Realtors ever sell real estate without the wisdom of Redfin? Motivated seller, priced right, marketed on the internet Mmmmm………and foreclosures impact pricing. Who’d a thunk it? Thanks Glenn
Charleston Real Estate Blog 12.15.07 at 6:20 am
Well, Glenn must have a PhD in pr but his scientists must have taken the kindergarten course in real estate.
Ricardo Bueno 12.15.07 at 7:59 am
The man is a genius!!!
LOL…I kid, I kid. Where’s Captain Obvious when you need him? It’s good PR and nothing more if you ask me. But who’s asking…you all new that.
The Property Magnate 12.15.07 at 8:01 am
How did Redfin do any business before they made these startling discoveries? What techniques were they using before?
Tim Wallace 12.15.07 at 9:58 am
Wow! I can’t….wait….yes, I can….believe that NBC and the Today show gives these people such credibility. Let’s see, Redfin’s divine revelations have been conventional wisdom and strategy ever since I’ve been in the business, regardless of the market. Unbelievable…..oh yeah, it’s the national media.
John Wake 12.15.07 at 11:35 pm
Captain Obvious failed to give the interviewer the obvious answer to get her home sold - lower… the… price.
And the guy’s got the geek persona nailed. All he was missing was a pocket protector.
I think we should admire him, however, for his pr accomplishments.
Tony Sena 12.16.07 at 3:26 pm
Its a good thing Redfin is here to help educate us REALTORS on we have been doing wrong, this is such valuable information! Thanks Redfin!
Clifford 12.17.07 at 8:24 am
The media outlets are starved for interviews.
John Schneider 12.17.07 at 9:31 pm
Jay,
apparently the writers strike has caused the Today show to shift their focus and sniff out new material. But it may be serendipitous, because I think they’re on to something here.
With the recent broadcast of scientific findings and eye-opening revelations about real estate, I’ve heard thru the grapevine - and I hope for all of us that it’s true - that upcoming segments on Today
will offer similiarly breathtaking revelations, like,
Top Tactics for Safe Driving. (based, of course, on extensive scientific study)
1. Do Not exceed the speed limit
2. It is important to keep your eyes OPEN at all times
3. Do NOT, REPEAT, Do NOT leave your vehicle while it’s in motion
4. If at all possible, avoid driving while severly intoxicated
5. When attempting to stop the vehicle, use the brake pedal.
Dave Blockhus 12.20.07 at 10:11 am
Kelman is a real estate idiot but a P.R. genius.
Jarvis from Orange County Water Damage 12.02.08 at 12:26 pm
“We are computer scientists, we are not salespeople.” haha LOL