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Old 03-27-2018, 04:48 PM
 
1,528 posts, read 725,070 times
Reputation: 2062

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Quote:
Originally Posted by kickingthebricks View Post
Its not worth arguing as you have clearly come down on a specific side of the fence, and I on the other. The OP got a lot of great information in this thread from real live buyers who have used Redfin (like me) who have used traditional brokerages as well and can compare the two models. We also heard from traditional agents who have done their best to undermine that information, Redfin's reputation, call Redfin agents inexperienced, and defend their own right to keep on keepin' on in a way that benefits them.

Sometimes, a speaker's effort to cut down another says more about the speaker than the object of their retort.
I agree with you. There are good agents here but unfortunately some of them are unsavory.

Not only does this kind of misrepresentation look bad for them but, if they are Realtors, it's also specifically violates their code of ethics which states that realtors:

shall not knowingly or recklessly make false or misleading statements about other real estate professionals, their businesses, or their business practices.

We've also had an agent here recently posting some 'statistics' of her performance vs. Redfins on a specific measure and they were laughably fraudulent. Well, nobody should laugh at fraud and misrepresentation to consumers. Shocking.

Lots of other shocking violations of ethics, decency and common sense here as well.

With all of these problems in their own patch, why would they attack Redfin? That makes no sense. Clean up your own behavior, ethics and decency. This is not directed at all agents here as many are very good.
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Old 03-27-2018, 04:52 PM
 
1,528 posts, read 725,070 times
Reputation: 2062
Quote:
Originally Posted by MikeJaquish View Post
I am not sure what is confusing you on the topic.

What is "The Fence?" Is it that "Profits don't matter?"
If you believe that, yes, we are surely on opposite sides. I am OK with that.
How many years would you suggest that RDFN can burn cash, and how many rounds of stock issue can they offer, before they need to be reliably profitable?

Is "The Fence" that the commission model is prevalent in brokerage?
I don't disagree with you.

If you believe that the thread has been heavily trolled, I surely agree.
We have been. Too many agents feed the troll, I would certainly agree.

We even had a once and done by a purported Redfin employee, full of crap.
My post in response was nearly perfect, of course.

But, I don't see how my posts put me in opposition to you, or any regular contributor here, for that matter.

I don't give a damn about anyone else's commission rate.
But, I do think a firm should be profitable after years of operation to be sustainable and not ruinous.
I don't particularly respect a ruinous pricing model, a la Uber.

I think profits do matter unless one is a not-for-profit and/or charity.
Why is this written like a poem?
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Old 03-27-2018, 08:01 PM
 
5,671 posts, read 7,260,887 times
Reputation: 3182
Quote:
Originally Posted by MikeJaquish View Post
Bo said it well.

"Puffery."

The claims are nearly meaningless and Redfin traffic improves neither sales nor price nor true market exposure.
That is the crux of it.
There is no advantage.

Nice site, but overblown on the real impact.
Sans RDFN, listings will be easily found in countless other sites and feeds.
I mean I'm not sure I'd go that far. It might be equivalent to an open house IMO. Most people aren't going to go see a home because it came up as a Redfin promoted listing. But every so often they might. Combine something like that with saving on the commission and it's certainly intriguing.

I agree with you that it's probably not good for the market in the long run, but like uber, I don't think home buyers and sellers care how profitable the parent company is.
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Old 03-27-2018, 08:07 PM
 
Location: Cary, NC
31,594 posts, read 55,307,520 times
Reputation: 30150
Quote:
Originally Posted by GoPhils View Post
I mean I'm not sure I'd go that far. It might be equivalent to an open house IMO. Most people aren't going to go see a home because it came up as a Redfin promoted listing. But every so often they might. Combine something like that with saving on the commission and it's certainly intriguing.

I agree with you that it's probably not good for the market in the long run, but like uber, I don't think home buyers and sellers care how profitable the parent company is.
Well, there are no local listings on Redfin that you cannot find on my site. So much for "exposure."

Sure, few consumers have worries about their service provider's profit margin.
But, anyone should wonder about ruinous pricing, a la Uber, that decimates legitimate regulated businesses.

"Disruption" should be carried out on a level playing field.
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Old 03-27-2018, 09:31 PM
 
5,671 posts, read 7,260,887 times
Reputation: 3182
Quote:
Originally Posted by MikeJaquish View Post
Well, there are no local listings on Redfin that you cannot find on my site. So much for "exposure."
Of course, but the poster's point was that Redfin listings are shown more prominently on Redfin's own site. So considering that Redfin is one of the highest trafficked sites, that can certainly be considered an advantage to listing with them. How much of an advantage is up for debate.
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Old 03-27-2018, 09:59 PM
 
Location: Los Angeles (Native)
24,151 posts, read 13,675,815 times
Reputation: 11364
Quote:
Originally Posted by GoPhils View Post
Of course, but the poster's point was that Redfin listings are shown more prominently on Redfin's own site. So considering that Redfin is one of the highest trafficked sites, that can certainly be considered an advantage to listing with them. How much of an advantage is up for debate.
Yeah the thing is there aren’t that many Redfin listings . Even in L.A where they have been here for years .
Most searches I’ve done don’t even seem to bring up any Redfin listings .

Most people are putting in filters when searching for a home too . Price being the big one and then sorting from least expensive to most expensive .

I was playing around on the app now and it looks like if you just search an area with no filters and do recommended then it comes up with a bunch of Redfin listings at the top .

But who searches for homes this way . I doubt many people are just putting in a city name like L.A and asking Redfin to show them recommended homes . I could see if you were looking for a hotel room or some kind of widget that is an impulse buy.

Most people will have specific neighborhoods in mind and price range filters etc .
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Old 03-27-2018, 10:59 PM
 
Location: Historic West End
3,946 posts, read 3,251,184 times
Reputation: 3764
Redfin is saying I have 250K in equity. Can I trust this site. I hope its true, but dang that property tax increase will be high.
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Old 03-28-2018, 06:19 AM
 
5,671 posts, read 7,260,887 times
Reputation: 3182
Quote:
Originally Posted by jm1982 View Post
Yeah the thing is there arenít that many Redfin listings . Even in L.A where they have been here for years .
Most searches Iíve done donít even seem to bring up any Redfin listings .

Most people are putting in filters when searching for a home too . Price being the big one and then sorting from least expensive to most expensive .

I was playing around on the app now and it looks like if you just search an area with no filters and do recommended then it comes up with a bunch of Redfin listings at the top .

But who searches for homes this way . I doubt many people are just putting in a city name like L.A and asking Redfin to show them recommended homes . I could see if you were looking for a hotel room or some kind of widget that is an impulse buy.

Most people will have specific neighborhoods in mind and price range filters etc .
Agree, but even when applying filters, if a Redfin home meets the requirements pretty sure it will initially be listed first, since it appears sorting by "Recommended" is the default. I'm sure most people will switch that to sort by price or whatever, but there's still a chance someone may click on that one prior to sorting.
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Old 03-28-2018, 06:26 AM
 
Location: Cary, NC
31,594 posts, read 55,307,520 times
Reputation: 30150
Quote:
Originally Posted by GoPhils View Post
Agree, but even when applying filters, if a Redfin home meets the requirements pretty sure it will initially be listed first, since it appears sorting by "Recommended" is the default. I'm sure most people will switch that to sort by price or whatever, but there's still a chance someone may click on that one prior to sorting.
This may matter more where there is excessive inventory sitting on the market.
That is a local market condition, and hasn't been the case where I am for several years now; since about 2012, with the last couple of years being out of control.

"Featured Listings?" Passe in a sellers market.
The real strength of the internet, IDX/VOW and pop sites, is the ability to broadcast pertinent listings in near real time with email and text alerts to consumers and agents.

Inability or unwillingness to do that will minimize agents who only use IDX/VOW to collect visitor data to spam and harass folks.
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Old 03-28-2018, 06:57 AM
 
1,528 posts, read 725,070 times
Reputation: 2062
Quote:
Originally Posted by MikeJaquish View Post

Sure, few consumers have worries about their service provider's profit margin.
But, anyone should wonder about ruinous pricing, a la Uber, that decimates legitimate regulated businesses.

"Disruption" should be carried out on a level playing field.
Youíve implied/suggested that Redfin is not regulated nor a legitimate business. Iím concerned that this may mislead consumers as indeed Redfin is no less legitimate than any business and itís regulated no differently than other brokers. It should be retracted and clarified as it may be an article 15 violation.
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