{"id":1422,"date":"2007-05-13T17:14:01","date_gmt":"2007-05-14T00:14:01","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1422"},"modified":"2007-05-13T20:29:02","modified_gmt":"2007-05-14T03:29:02","slug":"60-minutes-delivers-400-hits-in-sixty-minutes","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1422\/60-minutes-delivers-400-hits-in-sixty-minutes\/","title":{"rendered":"60 Minutes’ Redfin.com story delivers 400 hits in 60 minutes flat . . ."},"content":{"rendered":"

Who says the old media is dead? In the hour just ended, Redfin.com’s Real Estate Consumer’s Bill of Rights: A wolf in sheepskin clothing <\/a> had over 400 hits from organic search. Just think what might happen if the NAR made reasoned arguments instead of trying to club reality into shape with legislation…<\/p>\n

(This search is why we’re getting the traffic<\/a>. As with Zillow.com<\/a>, we are the highest-ranking discouraging words on the topic. It’s up to you to determine where the intellectual leadership of the real estate industry resides…)<\/p>\n

More:<\/i><\/b> real estate 2.x emerges from its Howard Hughes-like seclusion to comment<\/a>.<\/p>\n

<\/b>Further notice:<\/b> Well. That was pretty lame. You can see the video here<\/a>. Wouldn’t it be cool if a reporter could ask an intelligent question? Wouldn’t it be cool if both sides of a story were actually presented? Even so, the bottom line is: Big deal.<\/p>\n

Still more:<\/i><\/b> I commented on the TechCrunch.com post<\/a>, not that anyone other than insiders cares about accuracy on these issues.<\/p>\n

My initial comment:<\/p>\n

[Quoting Michael Arrington]> Redfin is doing their best to completely remove real estate agents and brokers from at least half of a home sale.<\/p>\n

This is incorrect. Redfin’s cost “savings” consists of pushing the cost of buyer representation off to the listing agent and the buyer. It “saves” money by not doing the work the buyer’s agent’s commission is intended to compensate. The net consequence, if no other changes are made in the real estate industry, is that sellers and listing agents are likely to change the way they provide for the buyer’s agent’s compensation. Redfin.com has never turned a profit, and, if its business model actually gets traction, the money it “rebates” will no longer be available to it.<\/p><\/blockquote>\n

This was Arrington’s response:<\/p>\n

Greg – the fact is that the real estate market is seriously screwed up and needs to be disrupted. Agents are overpaid and often do little more than underprice a house to ensure a quick sale. The model needs to change, and Redfin is changing it. Good for them.<\/p><\/blockquote>\n

That rejoinder is devoid of any actual response to what I had said, but people are rarely Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Who says the old media is dead? In the hour just ended, Redfin.com’s Real Estate Consumer’s Bill of Rights: A wolf in sheepskin clothing had over 400 hits from organic search. Just think what might happen if the NAR made reasoned arguments instead of trying to club reality into shape with legislation… (This search is […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,4,6,5,27],"tags":[],"class_list":{"0":"post-1422","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-blogging","7":"category-disintermediation","8":"category-marketing","9":"category-real-estate","10":"category-redfincom","12":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1762,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1762\/looking-for-a-traditional-listing-agent-when-redfincom-lets-you-down-60-minutes-has-got-that-covered-too\/","url_meta":{"origin":1422,"position":0},"title":"Looking for a traditional listing agent when Redfin.com lets you down? 60 Minutes has got that covered, too!","author":"Greg Swann","date":"August 7, 2007","format":false,"excerpt":"Beau Betts in Seattle writing about the 60 Minutes commercial for Redfin.com:60 Minutes also interviewed Deborah Arends from Re\/Max and represented her as having the \"old school\" real estate mentality and didn't really portray her in the most positive light. Well, I just started laughing when I was browsing the\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":290,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/290\/dissecting-glenn-kelman-of-redfincom\/","url_meta":{"origin":1422,"position":1},"title":"Dissecting Glenn Kelman of Redfin.com . . .","author":"Greg Swann","date":"September 5, 2006","format":false,"excerpt":"From comments at Rain City Guide. I didn't address this weblog entry from Redfin.com CEO and broker Glenn Kelman because I wasn't sure how to strike a balance. But today, Dustin Luther offered this:For those that haven't seen Glenn's comments on his blog, I highly recommend heading over to this\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":281,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/281\/if-bill-clinton-ran-redfincom\/","url_meta":{"origin":1422,"position":2},"title":"If Bill Clinton ran Redfin.com . . .","author":"Greg Swann","date":"September 3, 2006","format":false,"excerpt":"Of the two \"innovative\" cowbird brokerages discussed in this morning's New York Times, the stronger of the two is BuySideInc.com. They're rebating even more of the buyer's agent's commission than is Redfin.com, but their actual profit center is in originating the loan -- a well-understood, fast, cheap, office-job function. Even\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":298,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/298\/shadowing-zillow-filleting-redfin-and-a-just-plane-smart-approach-to-change-in-the-real-estate-business\/","url_meta":{"origin":1422,"position":3},"title":"Shadowing Zillow, filleting Redfin, and a “Just Plane Smart” approach to change in the real estate business . . .","author":"Greg Swann","date":"September 7, 2006","format":false,"excerpt":"Dustin at Rain City Guide is giving stat-dancing lessons today. I am neither as talented nor as interested as he is, but I do have an interesting statistic to reveal: Debunking Zillow.com is averaging well over 100 unique hits a day. All of my extended Zillow rants do very well,\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6907,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6907\/video-clips-of-redfincom-ceo-glenn-kelman-from-the-bloodhoundblog-unchained-preview-event-in-seattle\/","url_meta":{"origin":1422,"position":4},"title":"Video clips of Redfin.com CEO Glenn Kelman from the BloodhoundBlog Unchained preview event in Seattle","author":"Greg Swann","date":"February 15, 2009","format":false,"excerpt":"Marlow Harris of 360Digest.com took these clips of Redfin's Glenn Kelman as he spoke with us Thursday afternoon at Zillow.com headquarters in Seattle: Technorati Tags: BloodhoundBlog Unchained, disintermediation, real estate, real estate marketing, Redfin.com","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2241,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2241\/what-real-estate-needs-is-more-fine-print\/","url_meta":{"origin":1422,"position":5},"title":"What real estate needs is more fine print . . .","author":"Greg Swann","date":"November 20, 2007","format":false,"excerpt":"Good grief. I do hope there are additional forms to be filled out. What's a goofy new policy without goofy new paperwork? That's how you know you've got a job... Technorati Tags: disintermediation, real estate, real estate marketing, Redfin.com","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1422"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1422\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}