http://blogs.msdn.com/steverowe/archive/2007/04/06/redfin-real-estate-revolution.aspxEver since I sold my first house, I've thought that the real estate business was in need of a shakeup. The typical cost of buying or selling a house is 6%. The buyer's agent gets 3% and so does the seller's agent. On a $100,000 house that's not a bigen-USCommunityServer 2.1 SP1 (Build: 61025.2)http://blogs.msdn.com/steverowe/archive/2007/04/06/redfin-real-estate-revolution.aspx#2108657Fri, 13 Apr 2007 07:02:40 GMT91d46819-8472-40ad-a661-2c78acb4018c:2108657Qierxi<p>very useful information about selling or buying real estate,I will see where this goes too.</p> http://blogs.msdn.com/steverowe/archive/2007/04/06/redfin-real-estate-revolution.aspx#2276429Thu, 26 Apr 2007 00:54:23 GMT91d46819-8472-40ad-a661-2c78acb4018c:2276429Dion Dock<p>There's a chapter about this in Freakonomics. &nbsp;They surveyed the history of real estate transactions in Chicago and discovered that brokers typically took a little longer to sell their own houses and got more money for it.</p> <p>The conclusion was something to the effect that if a broker gets a 3% commission but gives half of that to their firm, how much motivation will they have to get an extra $10K from your home? &nbsp;It's only $150 for them, while it's $9400 for you.</p> <p>They are working for you and they have an incentive to get the best price, but their incentive is much less than yours.</p> http://blogs.msdn.com/steverowe/archive/2007/04/06/redfin-real-estate-revolution.aspx#2283123Thu, 26 Apr 2007 10:29:25 GMT91d46819-8472-40ad-a661-2c78acb4018c:2283123SteveRowe<p>That book is on my list to read at some point. &nbsp;You raise an interesting point. &nbsp;The corrolary is interesting too. &nbsp;Conventional wisdom says that real estate agents will push you toward buying a more expensive house because they make more money off of it. &nbsp;If the only make 1.5%, how much incentive is there to them to do so? &nbsp;Selling you a $20,000 more expensive house is only $300 to them.</p> http://blogs.msdn.com/steverowe/archive/2007/04/06/redfin-real-estate-revolution.aspx#2614677Mon, 14 May 2007 05:55:35 GMT91d46819-8472-40ad-a661-2c78acb4018c:2614677Nilo Sese<p>I totally agree that the real estate business was in need of a shakeup. After watching 60 Minutes on CBS TV on May 13 my hat's off to Redfin for revolutionizing the industry. I wish them more power! &nbsp;</p> http://blogs.msdn.com/steverowe/archive/2007/04/06/redfin-real-estate-revolution.aspx#2903202Sat, 26 May 2007 22:36:07 GMT91d46819-8472-40ad-a661-2c78acb4018c:2903202Ed<p>I listed my house for sale with Redfin in February of this year in Anaheim Hills, CA and must say that it is one of the worst experiences I've ever had with a real estate company. &nbsp;Many promises were made but never fulfilled. &nbsp;If anyone wants more information, please feel free to contact me at eshi@hotmail.com</p> http://blogs.msdn.com/steverowe/archive/2007/04/06/redfin-real-estate-revolution.aspx#2982067Wed, 30 May 2007 09:12:24 GMT91d46819-8472-40ad-a661-2c78acb4018c:2982067SteveRowe<p>@Ed, sorry to hear that. &nbsp;I've never worked with them so I only know about them 2nd hand. &nbsp;The few people I know who have used them have liked it, but apparently there are still some kinks to work out. &nbsp;Perhaps Redfin isn't the disrupter that will win this market but I bet someone like them will be. &nbsp;The transaction costs are just too high.</p>