{"id":1994,"date":"2007-10-01T20:07:08","date_gmt":"2007-10-02T03:07:08","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1994"},"modified":"2007-10-01T23:18:13","modified_gmt":"2007-10-02T06:18:13","slug":"budgeting-redfin-making-the-numbers-work-in-a-corporate-brokerage","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1994\/budgeting-redfin-making-the-numbers-work-in-a-corporate-brokerage\/","title":{"rendered":"Budgeting Redfin: Making the numbers work in a corporate brokerage"},"content":{"rendered":"

Last week Peter Coy at BusinessWeek made a point of asking Redfin’s Glenn Kelman a real estate question<\/a>. Kelman’s answer wasn’t awful, but it wasn’t great. (The negotiation advantage for unsold spec home occurs once a quarter, not just once a fiscal year.) But it was funny to me, because of this: Why would anyone expect Kelman to know about real estate in the trenches? He’s not like RE\/Max’s Dave Liniger, an ex-grunt with a corner office. He’s a corporate guy, a veteran of securitized start-ups.<\/p>\n

And that<\/i> is a completely different world. Kelman provides a pretty candid peek into that world today at Guy Kawasaki’s weblog<\/a>, a run-down on Redfin’s budgeting process and how things worked out in real life. There is a more corporate take on similar material at Redfin’s blog<\/a>. Joel Burslem remarked briefly on these posts<\/a>, and Sandy Kaduce provides a thoughtful analysis at the Seattle Post-Intelligencer<\/i>‘s real estate weblog<\/a>.<\/p>\n

BloodhoundRealty.com runs out of a 300sf room in our home, and, especially, the passenger cabins of our cars. Glenn Kelman lives in a world I know nothing about. I find the idea of salaried agents interesting — by which I mean exotic — and I could see a benefit to a coordinated, centralized back-office operation, although this might introduce licensing problems across state lines (another good reason to do away with licensing). In any case, I am grateful to everyone who fingered these posts by email, but I don’t think I have anything to add to the discussion.<\/p>\n

In comments here yesterday<\/a>, Kelman said, “At Redfin, we would prefer it if both buyers\u2019 agents and sellers\u2019 agents each charged a fee.” That would be much easier to effect if the commissions were divorced, a topic I definitely am<\/i> interested in taking up again — and again.<\/p>\n

In the meantime, give a look to Kelman’s post at Guy Kawasaki’s blog<\/a>. It’s a fascinating glimpse into a side of real estate most of us don’t have to think about.
\n<\/p>\n

Technorati Tags: blogging<\/a>, real estate<\/a>, real estate marketing<\/a>, Redfin.com<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Last week Peter Coy at BusinessWeek made a point of asking Redfin’s Glenn Kelman a real estate question. Kelman’s answer wasn’t awful, but it wasn’t great. (The negotiation advantage for unsold spec home occurs once a quarter, not just once a fiscal year.) But it was funny to me, because of this: Why would anyone […]<\/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":[3,6,5,27],"tags":[],"class_list":{"0":"post-1994","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-blogging","7":"category-marketing","8":"category-real-estate","9":"category-redfincom","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":18099,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18099\/overnight-news-like-orren-boyle-in-atlas-shrugged-redfins-glenn-kelman-makes-rules-because-he-cant-make-money\/","url_meta":{"origin":1994,"position":0},"title":"Overnight News: Like Orren Boyle in Atlas Shrugged, Redfin\u2019s Glenn Kelman makes rules because he can\u2019t make\u00a0money.","author":"Greg Swann","date":"May 3, 2021","format":false,"excerpt":"Is Glenn Kelman the Orren Boyle of real estate? While Basecamp is graciously showing the world how to be based in business, Kelman is the social savior who has a solution for every problem except Redfin.com's currently-completely-useless marketing strategy. The flavor of the micro-second? Pocket listings. I don't like them,\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1106,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1106\/the-numbers-are-clearly-bogus-mr-kelman-show-us-the-files\/","url_meta":{"origin":1994,"position":1},"title":"The numbers are clearly bogus, Mr. Kelman. Show us the files . . .","author":"Greg Swann","date":"March 2, 2007","format":false,"excerpt":"Kevin Boer thought he found an error in Redfin's accounting of its MLS results. What he found turned out to be trivial, which led to another round of war-hooping from the Redfin tribe. Meanwhile, our new contributor James Hsu has demonstrated that Redfin's horse runs behind the middle of the\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":1994,"position":2},"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":18015,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18015\/overnight-news-glenn-kelman-redfins-white-male-ceo-again-pridefully-sides-with-the-forces-who-will-just-as-pridefully-exterminate-his-children\/","url_meta":{"origin":1994,"position":3},"title":"Overnight News: Glenn Kelman, Redfin\u2019s white male CEO, again pridefully sides with the forces who will just as pridefully exterminate his\u00a0children.","author":"Greg Swann","date":"March 31, 2021","format":false,"excerpt":"Continuing his quest to be real estate's leading champion of the forthcoming anti-Ant genocide, Redfin's Glenn Kelman yesterday jumped onto the pandering-to-aggrieved-Asians boxcar bandwagon. As I've pointed out before, racism is a terrible idea for both Asians and Redfin, none of whom have any excuse for their dalliances with bigotry.\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17864,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17864\/overnight-news-why-is-glenn-kelman-redfins-white-male-ceo-so-bigoted-against-white-males-and-what-the-hell-do-his-racism-and-sexism-have-to-do-with-real-estate\/","url_meta":{"origin":1994,"position":4},"title":"Overnight News: Why is Glenn Kelman, #Redfin\u2019s white male CEO, so bigoted against white males \u2013 and what the hell do his racism and sexism have to do with real\u00a0estate?","author":"Greg Swann","date":"February 20, 2021","format":false,"excerpt":"Redfin CEO Glenn Kelman has apparently made a fetish of purging his company of the awful influence of creatures like himself \u2013 white and male. If we were to adapt those terms and say instead that he was out to persecute people who are non-white or female, we would recognize\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4924,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4924\/citing-market-downturn-redfincom-cuts-headcount-by-twenty-heads\/","url_meta":{"origin":1994,"position":5},"title":"Citing market downturn, Redfin.com cuts headcount by twenty heads","author":"Greg Swann","date":"October 13, 2008","format":false,"excerpt":"Via intrepid startup blogger John Cook from his new weblog Where are John and Todd?:Redfin today said it is cutting 20 percent of its staff as the Seattle online real estate broker prepares for what Chief Executive Glenn Kelman described as a \u201cbig dip.\u201d About 20 employees were let go,\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":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1994","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=1994"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1994\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}