Shawn and Angela Miller, Lincoln and Omaha, NE REALTORS® (Berkshire Hathaway HomeServices Amabassador Real Estate)

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Ambassador
3,339,654
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I did not see it. I'm still ill over the NAR commercials portraying agents as idiots ... by Phil Dumb-phy from Modern Family.

Jun 03, 2016 08:06 AM
Ambassador
6,357,499
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I am not surprised, only a matter of time before someone was going to do this, I thought Z would be the first.

We live in a constantly changing world, best to keep adapting if we want to stay ahead.

Jun 03, 2016 06:43 AM
Rainmaker
987,252
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Haven't seen it

Jun 03, 2016 09:52 PM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

No. Sounds like consumers need to "beware the fine print" on this.

Jun 03, 2016 06:25 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Shawn and Angela Miller - well, discounters were there then and now!

Professionals still dictate their terms and conditions.

Jun 03, 2016 03:45 PM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I haven't seen it. From what you said it does sound deceptive. 

Jun 03, 2016 02:06 PM
Rainmaker
2,219,617
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I did not Shawn and Angela Miller 

Jun 03, 2016 12:07 PM
Rainmaker
1,353,177
Joyce Marsh
Joyce Marsh Real Estate LLC - Daytona Beach, FL
Joyce Marsh Luxury Homes & Interior Designer

I have not seen it. 

Jun 03, 2016 10:46 AM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Shawn and Angela,

Do you know that Redfin has raised $167 million from Venture Capitalists?  They all want to get rich.  I would not worry about it.  Find a way to adapt and find a new strategy.  A

Jun 03, 2016 09:47 AM
Rainmaker
679,098
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

I just checked our MLS and Redfin has a presence in our surrounding area, but only saw one SOLD so it's good to know they are out there -- have about 10 agents -- but in our county they are not a force to contend with -- yet. I've never worried about what someone else is doing.  I keep my nose to the grind and keep on working toward the goal.

Jun 03, 2016 09:08 AM
Ambassador
2,679,499
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Rebates are legal in Florida. 

     I cannot discuss commission amounts, etc. (violation of Federal anti-trust laws), but I can say that if Redfin or anyone else is using false and misleading advertising (not disclosing the true fees that will be charged), they may get in trouble with either FTC, or with a particular state's Real Estate Commission.

Jun 03, 2016 08:37 AM
Ambassador
5,033,416
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I haven't seen the commercial and based on what you are saying would not be impressed I know many buyers like to use Redfin for searching but not sure about how successful they really are in this area - you hardly ever hear about them and rarely see a sign.

Jun 03, 2016 08:27 AM
Rainmaker
2,350,955
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Haven't seen it - Redfin does well here in DC but there is no institutional memory with buyers because you get a new agent for each part of the transaction - and possibly several agents during the home search - they really are door openers with another agent doing the negotiations

Jun 03, 2016 08:19 AM
Rainmaker
1,237,495
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

 It is a discounted brokerage that is proven. I am surprised they have not gone public.

They had 15% of total closing in SF South Bay with more buyers than sellers. Yes, the agents gave back to buyer a% in states that is legal (almost most states in the US allows rebate to customers). Their agents do more professional work on salary up to 6 figures ($) based on customer reviews. The contractor agent splits commission with buyer, their broker and  RF.  RF provides good leads and have been screened by RF staff. An agent can expect 50-75% conversion rate.  They have showing agents who drive people around for a few $100 a day. I know a few lawyers-brokers claim they love it doing $100-300M sales a year w/o spending market cost.  Many use that experience going on their own. In other words, agent spend "0" on marketing gets 75 homes sold (that is prob $50-80M here) first year. I doubt any new agent can accomplish that volume otherwise.

 

Jun 03, 2016 06:23 AM
Rainer
10,107
Gary Lucido
Lucid Realty, Inc. - Chicago, IL
Chicago's Full Service Discount Real Estate Broker

I have no problem with the issues you raise. However, I have a huge issue with their claim that they sell for a $4300 premium. Have you seen their math? I go into it here: Apparent Redfin false advertising claims.

Jun 17, 2016 05:13 AM
Rainmaker
2,707,721
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

That model has been around for some time...

Jun 05, 2016 12:55 PM
Rainmaker
1,498,578
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

The devil is always in the details.  This type of plan is not new and sadly NAR is prevented from competing.  If you or I give a buyer a rebate, we go to jail.  If Redfin does it, no problem.

Jun 04, 2016 08:33 AM
Rainmaker
1,722,926
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

You pay for what you get and sellers will soon be realizing that fact.

Jun 04, 2016 07:11 AM
Rainmaker
5,192,989
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Have not seen it! Sounds a little like dishonesty to me!

Jun 03, 2016 11:58 PM
Rainmaker
5,096,366
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sorry haven't see it. 

Jun 03, 2016 10:53 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

not so far - but then again - we cut the cord long ago

Jun 03, 2016 10:36 PM
Rainmaker
1,157,785
FN LN
Toronto, ON

No.

Jun 03, 2016 10:08 PM
Rainmaker
7,793,734
Roy Kelley
Retired - Gaithersburg, MD

I have not noticed this commercial.

Jun 03, 2016 08:05 PM
Rainmaker
4,975,901
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I did not see it..don't care for their business model. Adapt..and constantly research new strategies!

Jun 03, 2016 01:06 PM
Rainer
69,794
Shawn and Angela Miller
Berkshire Hathaway HomeServices Amabassador Real Estate - Lincoln, NE
Lincoln and Omaha, NE REALTORS®

Wow, that's interesting. The link to the Inman article Sam posted here said they were changing again so that agent spends more time with each transaction. Even though the founder of redfin states he doesn't want to go more traditional, I take from the article that is the direction it's going. It's just taking the scenic route though.

Jun 03, 2016 01:00 PM
Rainmaker
864,658
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

I did not see it. Redfin is increasing their listing presence in my area. It is still slow or virtually nonexistent on the buyer's side.

Jun 03, 2016 11:52 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

They have an awesome presentation.

As long as REDFIN and Zdevil control the information to which the consumer has access, they WILL be able to influence the market place.

So, what is YOUR franchise doing to protect the interests of the agent who give them their money?

As long as franchises remain spineless, refuse to expose the deception, keep their head in the sand, those who intend to alter the way real estate is conducted will have an unfettered path to their goal.

Folks, the coming of these forces and the sharing economy ARE going to change the way you do business unless you are very close to the sunset of your career.

Jun 03, 2016 07:28 AM
Rainmaker
823,379
Susan Laxson CRS
Palm Properties - La Quinta, CA
Realtor in San Diego, CA & Naples, FL

I haven't seen it yet, but just another one to add to the list.

Jun 03, 2016 07:25 AM
Rainmaker
2,775,931
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Another Real Estate mouth who  needs feeding...? Focused on my own

Jun 03, 2016 06:58 AM
Rainmaker
3,986,196
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Have not seen this in my area,

Jun 03, 2016 06:39 AM
Rainmaker
2,170,625
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

They are not in our area YET

Jun 03, 2016 06:30 AM
Rainmaker
1,840,236
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

They are rarely used in my area. They have a tremendous website though. 

They sold my Dad's home last year & they were a disaster. Another agent showed up for each step of the way. They were all newbies trying to wing it thru the entire deal.  

Ex. being:  Women did walk-thru 3 days before closing & said the house had to be vacant. Not in my area lady & I told her to call her broker to get her questions answered.

Jun 03, 2016 06:29 AM