Comments on: How Come Redfin’s P&L Looks Distinctly Unlike That Of A Traditional Real Estate Brokerage? Because Redfin Is Actually A Brokerage, Not A Landlord! http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html Commentary on the real estate market of the San Francisco Bay Area Sat, 13 Mar 2010 18:45:15 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: blog.mattgoyer.com » links for 2007-10-09 http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html/comment-page-1#comment-112062 blog.mattgoyer.com » links for 2007-10-09 Tue, 09 Oct 2007 22:26:30 +0000 http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html#comment-112062 [...] How Come Redfin’s P&L Looks Distinctly Unlike That Of A Traditional Real Estate Brokerage? Be... (tags: redfin) [...] [...] How Come Redfin’s P&L Looks Distinctly Unlike That Of A Traditional Real Estate Brokerage? Be… (tags: redfin) [...]

]]> By: The Odysseus Medal competition — Voting for the People’s Choice Award is open | BloodhoundBlog: Real estate marketing and technology blog | Realtors and real estate, mortgages, lending, investments http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html/comment-page-1#comment-111696 The Odysseus Medal competition — Voting for the People’s Choice Award is open | BloodhoundBlog: Real estate marketing and technology blog | Realtors and real estate, mortgages, lending, investments Mon, 08 Oct 2007 19:14:53 +0000 http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html#comment-111696 [...] NAR, REALTOR This, REALTOR That, An Open Letter to the NARKevin Boer — Redfin Financials, How Come Redfin’s P&L Looks Distinctly Unlike That Of A Traditional Real Estate Brokerage? Be...Sandy Kaduce — Redfin Financials, Dr. Kelman–Or How I Learned to Stop Worrying and Love [...] [...] NAR, REALTOR This, REALTOR That, An Open Letter to the NARKevin Boer — Redfin Financials, How Come Redfin’s P&L Looks Distinctly Unlike That Of A Traditional Real Estate Brokerage? Be…Sandy Kaduce — Redfin Financials, Dr. Kelman–Or How I Learned to Stop Worrying and Love [...]

]]> By: Redfin The Transparent Real Estate Brokerage at The XBroker http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html/comment-page-1#comment-110302 Redfin The Transparent Real Estate Brokerage at The XBroker Wed, 03 Oct 2007 00:33:27 +0000 http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html#comment-110302 [...] 3Oceans [...] [...] 3Oceans [...]

]]> By: Kevin Boer, Realtor, Alain Pinel Realtors, 650.387.2860 http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html/comment-page-1#comment-110256 Kevin Boer, Realtor, Alain Pinel Realtors, 650.387.2860 Tue, 02 Oct 2007 18:20:48 +0000 http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html#comment-110256 Agent Scoreboard -- Good point. Plus, agents in grocery stores already have name recognition from sponsoring grocery carts! :) Agent Scoreboard — Good point. Plus, agents in grocery stores already have name recognition from sponsoring grocery carts! :)

]]> By: Agent Scoreboard http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html/comment-page-1#comment-110235 Agent Scoreboard Tue, 02 Oct 2007 16:05:50 +0000 http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html#comment-110235 Banks have steadily been shrinking the sizes of their branches and BofA's stated profit growth goal is to open "more" and "smaller" branches that can reach customers where they are. I think big real estate could take a page out of that play book. Your local C21 at a small grocery store outlet. Coldwell banker has a very successful hoteling operation here in Manhattan Beach that occupies about 1/8th the floor space a traditional operation does with about 90% the revenue. I don't think they'll close the stores down but they can run them better. Banks have steadily been shrinking the sizes of their branches and BofA’s stated profit growth goal is to open “more” and “smaller” branches that can reach customers where they are. I think big real estate could take a page out of that play book. Your local C21 at a small grocery store outlet. Coldwell banker has a very successful hoteling operation here in Manhattan Beach that occupies about 1/8th the floor space a traditional operation does with about 90% the revenue. I don’t think they’ll close the stores down but they can run them better.

]]> By: Kevin Boer, Realtor, Alain Pinel Realtors, 650.387.2860 http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html/comment-page-1#comment-110231 Kevin Boer, Realtor, Alain Pinel Realtors, 650.387.2860 Tue, 02 Oct 2007 15:43:29 +0000 http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html#comment-110231 Agent Scoreboard -- I can't see the Coldwell Bankers of the world abandoning their plush digs in every downtown area in favor of a lower cost model. Brand and image are still too much a part of the game. It seems many consumers still want to see that there's a real company behind the transaction, to give them comfort in case anything goes wrong. It's a bit like banking in that way -- most consumers like the idea of walking into a big plush building where they can deposit their money. Phil -- I hear you! Here's my favorite: Lead comes in on the company web site and gets sent out. Agent who closes the deal owes a) a 25% referral fee to the company's "Internet Response Team" and b) a further 25% on the remaining 75%, as part of his/her standard split. Agent Scoreboard — I can’t see the Coldwell Bankers of the world abandoning their plush digs in every downtown area in favor of a lower cost model. Brand and image are still too much a part of the game. It seems many consumers still want to see that there’s a real company behind the transaction, to give them comfort in case anything goes wrong. It’s a bit like banking in that way — most consumers like the idea of walking into a big plush building where they can deposit their money.

Phil — I hear you! Here’s my favorite: Lead comes in on the company web site and gets sent out. Agent who closes the deal owes a) a 25% referral fee to the company’s “Internet Response Team” and b) a further 25% on the remaining 75%, as part of his/her standard split.

]]> By: Phil Hoover http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html/comment-page-1#comment-110213 Phil Hoover Tue, 02 Oct 2007 13:55:41 +0000 http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html#comment-110213 Then there are the OTHER broker scams like collecting leads on the company's website and distributing them to the agents on the lowest commission splits ~ to maximize the company dollar. Or, working for a selling broker who skims the best leads off the top before doling them out to the agents. Been there; experienced that :( Then there are the OTHER broker scams like collecting leads on the company’s website and distributing them to the agents on the lowest commission splits ~ to maximize the company dollar.
Or, working for a selling broker who skims the best leads off the top before doling them out to the agents.
Been there; experienced that :(

]]> By: Agent Scoreboard http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html/comment-page-1#comment-110112 Agent Scoreboard Tue, 02 Oct 2007 06:51:05 +0000 http://3oceansrealestate.com/blog/how-come-redfins-pl-looks-distinctly-unlike-that-of-a-traditional-real-estate-brokerage-because-redfin-is-actually-a-brokerage-not-a-landlord.html#comment-110112 kevin, good sketch... what happens to a the fin when their competition starts to lower the co-broke? Can't the traditional broker go to the virtual office /hoteling model and lower fixed costs? Its suprising but brand is still a big pull for consumers. It seems easier for the big boys to scale down their expense model faster than others can capture market share. I think the industry is all about risk mitigation, I'm not sure the set fee model will take off until consumer begin to assume some of the risk in the transaction, which RF is doing well in WA, but is barred from doing in CA. kevin,

good sketch…

what happens to a the fin when their competition starts to lower the co-broke? Can’t the traditional broker go to the virtual office /hoteling model and lower fixed costs? Its suprising but brand is still a big pull for consumers. It seems easier for the big boys to scale down their expense model faster than others can capture market share.

I think the industry is all about risk mitigation, I’m not sure the set fee model will take off until consumer begin to assume some of the risk in the transaction, which RF is doing well in WA, but is barred from doing in CA.

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