Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
That is how Redfin works. You have to enter into an agreement with them before you can see their agent insights.
Quote:
Originally Posted by MikeJaquish
Engage the firm as buyers' agents? Yes. Discovery and disclosure are significant fiduciary duties of buyers' agents.
Heck, buyer clients and I laugh when I say, "You are going to buy a house over my objections."
"Hate" is such an emotionally-charged term. Overused, too.
I don't "hate" much.
Your input is a bit odd, though, with no basis in the previous conversation. I don't much care about the site. I will let the attorneys in Chicago, and they have plenty of them, work it all out.
My interest is in academic discussion of agency and obligations and responsibilities of agents.
Truepad does not indicate that they are Realtors, so they are exempt from Realtor ethics. The agents they lead astray, OTOH, are Realtors, so they may be exposed to ethical and civil complaints for bad behavior. I would root for the complainant, out of decency, not because of your "hate."
As mentioned earlier, the company stands behind none of the site, and points complaints at the hapless agents. https://www.truepad.com/tos The Company does not warrant that (i) the service will meet your specific requirements, (ii) the service will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the service will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the service will meet your expectations, and (v) any errors in the Service will be corrected.
You expressly understand and agree that the Company shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if the Company has been advised of the possibility of such damages), resulting from: (i) the use or the inability to use the service; (ii) the cost of procurement of substitute goods and services resulting from any goods, data, information or services purchased or obtained or messages received or transactions entered into through or from the service; (iii) unauthorized access to or alteration of your transmissions or data; (iv) statements or conduct of any third party on the service; (v) or any other matter relating to the service."
Obviously, "independent" agents are "Third Parties." "Lead them astray, and hang them out to dry?" I would like to see the indemnification the agents have to agree to to get access.
Mike, you can whine all you want about this, but it appears that consumers like to get more objective observations about a property than jus the sales schtick from the listing agent. I know it chips away on the agents stranglehold on information and erodes the monopoly, but that is probably why the consumers like it. A no, it is not unethical or illegal it is just a chnage in how things are done.
I've largely avoided this thread, however I don't see Mike as whining or even offering opinion. He is stating legal/state views on agency, not his personal opinion.
The question for the agent becomes one of liability. I would not, nor would I let my agents, post negative comments on a public forum about a home that are opinion based. What is noisy? That's subjective to the buyer. It's also something that could come back on the agent from an unhappy agent or unhappy list agent. Share that info in private with a client...yes, all day long.
Facts I'm fine with and I think the state would be more lenient with facts rather than opinion. An example of fact: The second bedroom is painted hot pink. Opinion: The house had ugly bright colors. Fact: The home is 1 block from a highway. Opinion: It is a noisy area.
I still wouldn't post anything, but if an agent is going to do it they'd better be clear, concise, and factual. I don't see where it's worth the liability. I don't care about that seller, or those customers out there. I care about my client and my license.
One last question: How does a real estate site owned and managed by a real estate company trying to earn a profit erode the MLS, which is what I assume you are referring to as a monopoly? The MLS is a separate entity owned by brokerages in a market and intended for internal usage by brokerages to share information with other brokerages. It was not designed or intended for public interface.
So is the issue that these (sometimes) negative comments are publicly available? Would you be ok with buyers being able to see these comments after signing up for representation by Redfin?
As long as it's not a public portal I believe that would be perfectly acceptable as presented if the feedback is from Redfin agents and it's not a public portal.
Dident angies list get sued a few years back because some contractors were getting bad ratings and they were butt hurt about it. So my understanding is that sites like that are now a white washed and watered down, not sure if that's the case with redfin.
I've largely avoided this thread, however I don't see Mike as whining or even offering opinion. He is stating legal/state views on agency, not his personal opinion.
The question for the agent becomes one of liability. I would not, nor would I let my agents, post negative comments on a public forum about a home that are opinion based. What is noisy? That's subjective to the buyer. It's also something that could come back on the agent from an unhappy agent or unhappy list agent. Share that info in private with a client...yes, all day long.
Facts I'm fine with and I think the state would be more lenient with facts rather than opinion. An example of fact: The second bedroom is painted hot pink. Opinion: The house had ugly bright colors. Fact: The home is 1 block from a highway. Opinion: It is a noisy area.
I still wouldn't post anything, but if an agent is going to do it they'd better be clear, concise, and factual. I don't see where it's worth the liability. I don't care about that seller, or those customers out there. I care about my client and my license.
One last question: How does a real estate site owned and managed by a real estate company trying to earn a profit erode the MLS, which is what I assume you are referring to as a monopoly? The MLS is a separate entity owned by brokerages in a market and intended for internal usage by brokerages to share information with other brokerages. It was not designed or intended for public interface.
From the Truepad legal page; emphasis is mine:
"The Role Of Truepad
Truepad is a licensed real estate broker in the state of Illinois but does not broker real estate transactions. Truepad does not act as a real estate agent."
They may be a "real estate company" in only the most generous interpretation of the term. They appear to be just another lead generator, with a questionable shtick.
"How much do the leads cost?
We offer leads under a referral agreement; there is no upfront cost – you pay a percentage of the commission to Truepad when the deal closes. Fill out the form to learn more about our referral agreement." https://agents.truepad.com/
So the real estate license must function to legalize accepting referral fees?
Sign up for the pigeon is easy. Name and email.
It is a bit frustrating that the site search results list properties that are under contract, or sold months ago, and you have to click to the listing details to see that. They update every 15 minutes, so one would think that property status could easily be noted in the results list.
It would be easy to wear out their agent base, with repeated requests for reviews on properties, and no intention or need ever to purchase. Not admirable, but easy, methinks.
I've largely avoided this thread, however I don't see Mike as whining or even offering opinion. He is stating legal/state views on agency, not his personal opinion.
The question for the agent becomes one of liability. I would not, nor would I let my agents, post negative comments on a public forum about a home that are opinion based. What is noisy? That's subjective to the buyer. It's also something that could come back on the agent from an unhappy agent or unhappy list agent. Share that info in private with a client...yes, all day long.
Facts I'm fine with and I think the state would be more lenient with facts rather than opinion. An example of fact: The second bedroom is painted hot pink. Opinion: The house had ugly bright colors. Fact: The home is 1 block from a highway. Opinion: It is a noisy area.
I still wouldn't post anything, but if an agent is going to do it they'd better be clear, concise, and factual. I don't see where it's worth the liability. I don't care about that seller, or those customers out there. I care about my client and my license.
One last question: How does a real estate site owned and managed by a real estate company trying to earn a profit erode the MLS, which is what I assume you are referring to as a monopoly? The MLS is a separate entity owned by brokerages in a market and intended for internal usage by brokerages to share information with other brokerages. It was not designed or intended for public interface.
On the top of pg 4 of this thread, I gave an example of reporting facts about a home, and Mike even thought those "facts" were inappropriate.
Dident angies list get sued a few years back because some contractors were getting bad ratings and they were butt hurt about it. So my understanding is that sites like that are now a white washed and watered down, not sure if that's the case with redfin.
Your "understanding" is erroneous. I've eviscerated a few contractors on Angie's List and not one word of my reviews was ever changed or suppressed by TPTB.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
