Any Redfin takers ?

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Nope. Not after they closed their forums…oh wait! The guys are here to make a buck. :rofl:

I don’t know…:smirk:

As Cramer says…Sell, sell, sell…lol

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Some experts serving on the Realogy panel stated if Rf went IPO 10 years ago, people are today more opt to use a discounted brokerage for transactions. There are many great device applications by other realtor brokerages today. Their better technology is not a big deal anymore.

Rf had ~2% of transactions from our mlslistings (SFBA) on the buyer side and <0.5% on the listing side. Recently, they blocked their transactions to keep their sales data private. I suspect it could be 2X or 3X more now. Until it has 15-20% I will be paying more attention how their stocks are doing. In fact, now they need to be more careful as public company to fend off lawsuits as discounted brokerage. Z, Amzn, NAR ,RMAX, big company like RLYY would love to bite a public company.

Those who use Rf are younger 1st time home buyers and offers from them come in often at asking price or low. Their agents have to work very hard to get offers accepted and 1st time buyers do not have the means to compete.

I do believe the industry is changing and more changes will come.
Sam Shueh
Silicon Valley Realtor
Realty One Group
Campbell, CA

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Redfin missed the opportunity to become something better. By ignoring that nowadays you live out of “per click” advertising, they really blew it. They could have embedded banners, you know, Home Cheapo, or your crook Realtor, all paid for. But no, they kept it so simple, out of touch with the new tech.

RF buyers are younger? So, what you are really saying is they are the future. So easy to throw shade so hard to congratulate.

No financial ties. Wish I had taken a flyer on some back in the day though.

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I am sure their discounted model will work in some metropolitan areas. If realtors do less hand holding. But not everyone is that device savvy. RF really have to market themselves in rural areas or states which forbid any kind of credit back.

An emerging model is online auction, sellers do not want to pay much if any commission to buyer agents. Buyers have to pay their agent. Buyer can click online or have someone representing them with a credit card. If successful they get an agent to write former contracts, inspections etc. Often the total commission out of sellers is minimum way less than RF’s.

Anyone has latest information on MOVOTO? ipo?
I worked for them briefly. Their leads are terrible often not engaged.

Sam Shueh Realtor

Exactly. Truth is that a lot of younger people want to be in the driving seat when it comes to what houses to see. They don’t want to be driven around to places that are bad matches and waste a lot of time on "what about this one?"s. They have the information, they want to be in the driver’s seat.

All buyers are in the drivers seat…Zillow is best of breed… redfin is just a discount brocker with a good website …But all brokers now have interactive websites…