Comments on: There goes the neighborhood. A Redfin sign is on my street! http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/ Seattle's Leading Resource for Real Estate Information Sun, 21 Mar 2010 05:48:34 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: I see dull people… | BloodhoundBlog: Real estate marketing and technology blog | Realtors and real estate, mortgages, lending, investments http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-230075 I see dull people… | BloodhoundBlog: Real estate marketing and technology blog | Realtors and real estate, mortgages, lending, investments Wed, 19 Dec 2007 17:23:18 +0000 http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-230075 [...] I want to see (actually, I don’t) the prospectus of the initial start-up and the projected ROI for the venture money people. Attack an industry for the way it pays its agents then turn around and make billions from the same industry? Or is it only hundred millions?  Mere millions, perhaps? It certainly is not thousands or hundreds, to be sure and this is precisely my point.  They ain’t doin’ it for nothin’ (or the prospect of nothin’). And while most Parson types are indeed, holier than thou and definitely holier than me (Jimmy Swaggart, Ted Haggard, and poor Jim Bakker notwithstanding), they still have human needs and the required earthly tethers of food, shelter, clothing, and American Express. But is Redfin simply ‘working for food?‘ For mere shelter? For Rewards Points? Or maybe it just ticks me off when someone else feels complelled to count my money. [...] [...] I want to see (actually, I don’t) the prospectus of the initial start-up and the projected ROI for the venture money people. Attack an industry for the way it pays its agents then turn around and make billions from the same industry? Or is it only hundred millions?  Mere millions, perhaps? It certainly is not thousands or hundreds, to be sure and this is precisely my point.  They ain’t doin’ it for nothin’ (or the prospect of nothin’). And while most Parson types are indeed, holier than thou and definitely holier than me (Jimmy Swaggart, Ted Haggard, and poor Jim Bakker notwithstanding), they still have human needs and the required earthly tethers of food, shelter, clothing, and American Express. But is Redfin simply ‘working for food?‘ For mere shelter? For Rewards Points? Or maybe it just ticks me off when someone else feels complelled to count my money. [...]

]]> By: Robbie http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-164156 Robbie Thu, 26 Jul 2007 19:18:25 +0000 http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-164156 I should note this is just my impressions of my local neighborhood (Issaquah Highlands) real estate market, not the greater Eastside area in general. I see a lot more RE/Max signs on my commute to work (along Lake Sammamish passing by Microsoft) than I do at home. You're also right that Redfin still has the "new car smell" going for it. I should note this is just my impressions of my local neighborhood (Issaquah Highlands) real estate market, not the greater Eastside area in general. I see a lot more RE/Max signs on my commute to work (along Lake Sammamish passing by Microsoft) than I do at home.

You’re also right that Redfin still has the “new car smell” going for it.

]]> By: Reba Haas http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-164134 Reba Haas Thu, 26 Jul 2007 18:27:11 +0000 http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-164134 To address comment 7 from Robbie, I happen to work for the RE/MAX office that is currently #1 in the Puget Sound region and we're still getting just as many listings (if not more) than ever. We have been continuing to stay in the top 1-2 spots of the NWMLS and from what I've heard we are now the #1 RE/MAX office in the United States right now because the Seattle area continues to have a stronger real estate economy than other cities and states right now. I liken the higher recognition of Redfin to that of people when they buy a new car. You didn't notice so many other similar cars on the road till you bought one. With as much media coverage as Redfin is getting, and they are picking up some market share - I don't dispute that - of course you'll notice the signs more often. To address comment 7 from Robbie, I happen to work for the RE/MAX office that is currently #1 in the Puget Sound region and we’re still getting just as many listings (if not more) than ever. We have been continuing to stay in the top 1-2 spots of the NWMLS and from what I’ve heard we are now the #1 RE/MAX office in the United States right now because the Seattle area continues to have a stronger real estate economy than other cities and states right now.

I liken the higher recognition of Redfin to that of people when they buy a new car. You didn’t notice so many other similar cars on the road till you bought one. With as much media coverage as Redfin is getting, and they are picking up some market share – I don’t dispute that – of course you’ll notice the signs more often.

]]> By: Dan C. http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-163467 Dan C. Tue, 24 Jul 2007 18:50:50 +0000 http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-163467 Why would a consumer not give a new market entrant a chance to prove themselves? Just because they are not "in the club" does not mean they can't provide good service and customer satisfaction. If I were a residential real estate agent, I would see the entry of Redfin and its proliferation of sale signs as good competition. If someone (RE Agent) is as good as they advertise themselves to be, new competition shouldn't matter. Disruptive technologies and ideas always have a way of shaking things up. I for one am thankful someone has rattled the cages of the local RE cartel. Seems people are trying to talk down on Redfin, rather than talk themselves up. Just my opinion (I have no affiliation with Redfin, nor do I own my own home) Why would a consumer not give a new market entrant a chance to prove themselves? Just because they are not “in the club” does not mean they can’t provide good service and customer satisfaction.

If I were a residential real estate agent, I would see the entry of Redfin and its proliferation of sale signs as good competition. If someone (RE Agent) is as good as they advertise themselves to be, new competition shouldn’t matter. Disruptive technologies and ideas always have a way of shaking things up. I for one am thankful someone has rattled the cages of the local RE cartel.

Seems people are trying to talk down on Redfin, rather than talk themselves up. Just my opinion (I have no affiliation with Redfin, nor do I own my own home)

]]> By: ARDELL http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-163138 ARDELL Mon, 23 Jul 2007 18:04:41 +0000 http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-163138 Finance Girl, Not diagreeing. Just have a small question. Would you call Redfin "a discount" service, and if not, why not? Why would you not first try the cheaper MLS4U type service? I think it is three or four times cheaper. Just wondering. Finance Girl,

Not diagreeing. Just have a small question. Would you call Redfin “a discount” service, and if not, why not? Why would you not first try the cheaper MLS4U type service? I think it is three or four times cheaper. Just wondering.

]]> By: finance girl http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-163126 finance girl Mon, 23 Jul 2007 17:16:21 +0000 http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-163126 I have heard great things about Redfin, and after buying 3 homes am very underwhelmed by the service, or lack thereof, from traditional agents. I will be listing our current home with Redfin if we do decide to sell our primary residence because I just don't see the value that traditional realtors provide to sellers ( I know how to stage, I know how to present the house well, I am under no illusion on what I could get for it and actually will list it $20k under what I think will move it). I have heard great things about Redfin, and after buying 3 homes am very underwhelmed by the service, or lack thereof, from traditional agents.

I will be listing our current home with Redfin if we do decide to sell our primary residence because I just don’t see the value that traditional realtors provide to sellers ( I know how to stage, I know how to present the house well, I am under no illusion on what I could get for it and actually will list it $20k under what I think will move it).

]]> By: Robbie http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-163119 Robbie Mon, 23 Jul 2007 17:03:13 +0000 http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-163119 I don't have numbers, but anicdotally speaking it seems the "second tier majors", (like Centruy 21, Re/Max, etc) aren't getting the business they used to around the east side. The independents and the discounters (Skyline, Plateau, Redfin, Zip, MLS4Owners etc...) seem to be getting a bigger piece of the pie. I don’t have numbers, but anicdotally speaking it seems the “second tier majors”, (like Centruy 21, Re/Max, etc) aren’t getting the business they used to around the east side. The independents and the discounters (Skyline, Plateau, Redfin, Zip, MLS4Owners etc…) seem to be getting a bigger piece of the pie.

]]> By: Rhonda Porter http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-163063 Rhonda Porter Mon, 23 Jul 2007 13:40:06 +0000 http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-163063 I think it's the individual you work with, much like selecting a Mortgage Professional. I spent a ton of time educating a couple of first time home buyers. I knew they were going to to use Redfin to buy their home, I did not know they were just using me for my experience and recommendations...they wound up using Redfin Mortgage, too. I think it’s the individual you work with, much like selecting a Mortgage Professional. I spent a ton of time educating a couple of first time home buyers. I knew they were going to to use Redfin to buy their home, I did not know they were just using me for my experience and recommendations…they wound up using Redfin Mortgage, too.

]]> By: RCG Skeptic http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-162977 RCG Skeptic Mon, 23 Jul 2007 06:18:51 +0000 http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-162977 I used Redfin to buy my house; they were great! I felt they exceeded my expectations in the level of service and professionalism they provided. I applaud their continuing efforts to grow. I hope they're still in business in another 5 years or so when we're ready to trade up our house for a bigger one. I used Redfin to buy my house; they were great! I felt they exceeded my expectations in the level of service and professionalism they provided. I applaud their continuing efforts to grow. I hope they’re still in business in another 5 years or so when we’re ready to trade up our house for a bigger one.

]]> By: ARDELL http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-162852 ARDELL Sun, 22 Jul 2007 21:15:13 +0000 http://raincityguide.com/2007/07/21/there-goes-the-neighborhood-a-redfin-sign-is-on-my-street/#comment-162852 Jillayne, I think that agents who want to compete in today's marketplace find themselves leaving companies who restrict their abiity to do so. If an agent wants to offer more choices in between Redfin and some traditional more standard fee, and their compoany won't let them... More people hanging their own shingle for that reason than ever before, is my guess. More options has to equal more companies, if the big companies won't permit those expanded options, at the discretion of the agent. Jillayne,

I think that agents who want to compete in today’s marketplace find themselves leaving companies who restrict their abiity to do so. If an agent wants to offer more choices in between Redfin and some traditional more standard fee, and their compoany won’t let them… More people hanging their own shingle for that reason than ever before, is my guess.

More options has to equal more companies, if the big companies won’t permit those expanded options, at the discretion of the agent.

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