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Charleston real estate

Redfin's Real Estate Consumer's Bill Of Rights

By: Howard Arnoff
Monday, April 02, 2007 9:06 PM

The blogosphere is busy once again today with Redfin's announcement of a Real Estate Consumer's Bill Of Rights. On the surface, it looks pretty but let's examine what and why Redfin is proposing and why it is mostly self serving to their flawed business model.

Please read my opinion on Redfin with links to other discussions.

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Comments

John Rainville
Member Since '06

John Rainville said:

I applaud Redfin and encourage agents to apply for positions with them. Then after you realize you can't make any money there escrow your license.  

This is a GREAT concept to get agents that can't make it --- OFF THE STREET!  YEAAAAA!!!!  It will work like "Assist 2 Sell" where no one makes money except the broker.  But in Redfin's case they won't make it either with their $2000 starting fee. So an agent will have to sell at least 100 to make it worthwhile for the firm to pay them 50K plus benefits.  That is one every other day if you only have to work five days a week and get the 3 weeks vacation, 9 paid holidays and 2 personal days a year.  That means you have to close a deal every other day.  God Speed Redfin!

April 2, 2007 7:42 PM
Todd Clark
Member Since '06

Todd Clark said:

Wow - Good luck with that one Redfin

April 2, 2007 10:03 PM
Michelle Leonard
Member Since '06

Michelle Leonard said:

I do beleive consumers in general do not understand about procuring cause. Realtors do not seem to have a problem getting listing contracts signed- maybe if commissions were negotiated between the buyer and agent and do away with coop fees -When looking at properties who is driving paying for gas- who is paying for lunch - Is there a cap on how many properties you look at - what happens if they don't buy? Does the agent have an hourly rate?  Is commission a percentage of selling price? Or is it based on how much you negotiated off?

April 3, 2007 4:22 AM

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Howard Arnoff
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Howard Arnoff
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