Slump? What Slump? Real Estate Sites licking their chops

We were going to do a little post regarding this recent New York Times article (“Despite Housing Slide Real Estate Sites Sell”, and get into all kinds of details, but we thought we’d just send you that way instead. We also thought we’d clue you in to a great post on 3 Oceans Real Estate essentially regarding the same thing, but with a bit more twist and punch.

Something we’ve been wondering:

Dear Glenn,

If you’re listening, where’d you get the name Redfin?

Sincerely,

theFrontSteps

5 thoughts on “Slump? What Slump? Real Estate Sites licking their chops”

  1. I’ve never witnessed any of these “dirty” tactics nor any anti Zip or Refin antics in San Francisco. I have a distinct opinion about 1 person’s ability to be an expert in every neighborhood in San Francisco as well as the South Bay / East Bay. I think it’s tough enough to focus on SF.

    That said – i’ve done a few deals with a Zip agent who is one of the best Realtors in our area in my opinion. Honest, professional, intelligent – best qualities in a Realtor. I’ve questioned some Redfin priced listings – i’ve questioned some Redfin turnaround time in answering specific neighborhood or property questions – but I don’t know anyone who would essentially black ball their listings or offers.

  2. Hey Alex,

    Thanks for mentioning my article!

    Like Greg, I personally have not seen these particular behaviors, but I, unfortunately, have no trouble believing that they happen. Every month or two I hear a first-hand story of an offer that wasn’t presented. Usually the culprit is not from one of the big, well-respected brokerages, and the victim could be almost anyone. But put that together with the regular anti-“discount broker” rhetoric and I can see this sort of thing happening, sadly.

  3. My pleasure Kevin. I have not seen it happen personally, but like the both of you, the recipe is there, “sadly”.

  4. I used Redfin on the buy side. Listing broker became total jerk when he found out we were using Redfin.

    This was a relo and my husband had seen the property twice at open houses and I had talked to the listing broker a couple of times on the phone with specific questions which he answered promptly.

    I told the listing broker I would be flying in from the east coast to specifically to see this property and would be using Redfin. He told me Redfin couldn’t show property…when I told him they could show me the house and I really didn’t care who did, he said he’d better do it because Redfin wouldn’t know anything about the house.

    I was coming to SF to see the house and arrived on Friday. He said he would call me on a Friday to tell me when to come out Saturday. After calls to the listing broker’s office, cell phone, and another broker my husband had met at one of the open houses we finally heard back from him at 8:00PM Friday night.

    We arrived at the house on Saturday morning and the listing broker stood in the kitchen the entire time we were there. He didn’t offer any information or ask if we were interested in the house. Nothing.

    At 8PM that evening we were out for dinner and the listing broker called…said the owners wanted to know if we were interested.

    We made an offer on Monday morning with Redfin and were under contract on Wednesday, had the house inspected on Friday, and closed escrow in 21 days after we went in contract.

    Redfin did everything by email and phone which was great…never even met the broker in person. Got a fat check from Redfin shortly after closing escrow.

    We were a good buyer…paid 88% cash and a small mortgage..could have paid cash.

    The listing broker could have easily lost the deal for the sellers…additional reasons explained here.

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