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What about the ones that are still around (like Redfin 1.5%Flat Fee/Flat Rate/lower average % for full service) despite all the "guess the business plan didn't work out." opinions shared over the years?
The last decade has seen much change in the RE Service world
(DOJ vs NAR settlement, spread of service options/costs, impact of internet, listing/advertising, consumer awareness, availability of info/data/public records and more
The public has options/levels of service to chose from in most States and if they are honest with themselves about their capabilities/time ect. are imo most likely going to be successful in their selling or buying experience/endeavor
(It's my opinion the NAR stats show trends supporting that opinion)
It's my opinion "the business plan didn't work out." just about the same way the Zillow/Trulia plan didn't work out
Worked better for Zillow than Trulia though
Last edited by dunespeak; 05-13-2015 at 10:46 AM..
Reason: Because I changed something
Redfin is still around here, but I have seen fewer and fewer listings in the last couple years. My only experience wth them has been a very slow response to my requests to show bc they use 1 listing agent for an area. If an agent takes 3 days to return my call, it's highly unlikely my clients will see the house.
Don't forget, in addition to that 1.5% or whatever it is, you will also have to pay a buyers agent commission. Discount that too much and you won't get any showings. There is a home here that has been listed with discount brokers on and off for 3 years. Overpriced and less than half the normal buyers agent commission. I don't expect it will sell anytime soon.
There are plenty of discount brokers still around. You can search your local craigslist and I'm sure you'll find a few of them. With the exception of redfin the ones I've seen have a caveat that you must buy a home through them.
What about the ones that are still around (like Redfin 1.5%Flat Fee/Flat Rate/lower average % for full service) despite all the "guess the business plan didn't work out." opinions shared over the years?
The difference between Foxtons and the brokerages you mentioned are that they were trying to be a full service brokerage at 1%. You can't have your cake and eat it too. Either you charge enough to allow you to actually give your clients some attention or you cut your fee and send them a text message once a month. If you think the Redfin agent local to me does half of what I do for my clients, then you are sorely mistaken. They cover entirely too wide of an area to ever be able to spend the amount of time I do with my clients or have the in depth local knowledge that I do.
I remember having them list my condo and it was 3%. If I remember correctly, they kept 2% and 1% goes to buyer agent. I had a few offers that wanted me to pay full buyer agent commission and I told them to get that from your buyer.
I remember having them list my condo and it was 3%. If I remember correctly, they kept 2% and 1% goes to buyer agent. I had a few offers that wanted me to pay full buyer agent commission and I told them to get that from your buyer.
Did you sell the condo?
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