Techcrunch and Mercury News have great write ups on the new announcements from Redfin that should be a must read for all Real Estate Agents.
» Is this the beginning of the end for the traditional commission model?
Most likely not. Just like Zip Realty, Foxtons, Help-U-SELL and other “Non Traditional” brokerages, Redfin will appeal to younger tech savvy homebuyers and sellers. They will find their Niche. Traditional full service brokerages will always be in demand because they provide local expertise and knowledge at a more personal level.
» Will consumers embrace this model?
Many do-it-yourself type buyers and sellers will see this model as a viable option to more traditional methods of buying and selling real estate. It’s an in between model – between using a full service traditional broker or going FSBO. Choice is good!
» Will Non- Redfin Real Estate Agents embrace this model?
Maybe…
» Will there expansion nationwide create a frenzy?
Maybe?
It’s a Good thing when consumers have more choices to buy and sell Real Estate. Some consumers prefer full service brokers for a more personal and hands on experience, while some prefer to go it alone and others may prefer a little bit of both.
Update:
Marlow of 360° Digest has some interesting insight on Redfin here.
