{"id":286,"date":"2006-09-04T23:42:35","date_gmt":"2006-09-05T06:42:35","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=286"},"modified":"2007-05-13T20:13:59","modified_gmt":"2007-05-14T03:13:59","slug":"working-the-numbers-on-real-estate-business-models","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/286\/working-the-numbers-on-real-estate-business-models\/","title":{"rendered":"Working the numbers on real estate business models . . ."},"content":{"rendered":"<p><a href=\"http:\/\/www.altosresearch.com\/blog\/archives\/124-The-Last-Stand-of-the-6-Percenters.html\" target=\"_blank\">Altos Research on Redfin.com and other real estate business models<\/a>:<\/p>\n<blockquote><p>Sales guru Jeffery Gitomer puts it this way, &#8220;if you have to compete on price, You Suck!&#8221;<\/p>\n<p>We all invoke financial services as the analog for real estate. What isn&#8217;t commonly noted is that as technology swept through the financial services biz, two things happened: prices went down (e-trade et al) and prices went up (hedge funds). Why did prices go up? The same reason they always do. When you provide more value to a customer, you can (and should) charge more. I for one am looking for the real estate agents\/brokers\/sites that blow away their clients so completely with service, that they&#8217;re happy to pay more than 6%. Those are the innovators to watch.<\/p><\/blockquote>\n<p><!-- technorati tags start --><\/p>\n<p style=\"text-align:right;font-size:10px;\">Technorati Tags: <a href=\"http:\/\/www.technorati.com\/tag\/blogging\" rel=\"tag\">blogging<\/a>, <a href=\"http:\/\/www.technorati.com\/tag\/disintermediation\" rel=\"tag\">disintermediation<\/a>, <a href=\"http:\/\/www.technorati.com\/tag\/real estate\" rel=\"tag\">real estate<\/a>, <a href=\"http:\/\/www.technorati.com\/tag\/real estate marketing\" rel=\"tag\">real estate marketing<\/a><\/p>\n<p><!-- technorati tags end --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Altos Research on Redfin.com and other real estate business models: Sales guru Jeffery Gitomer puts it this way, &#8220;if you have to compete on price, You Suck!&#8221; We all invoke financial services as the analog for real estate. What isn&#8217;t commonly noted is that as technology swept through the financial services biz, two things happened: [&hellip;]<\/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-286","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":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":286,"position":0},"title":"Shadowing Zillow, filleting Redfin, and a &#8220;Just Plane Smart&#8221; 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 &quot;Blogging&quot;","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1997,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1997\/oh-good-grief-he-went-to-jared\/","url_meta":{"origin":286,"position":1},"title":"Oh, good grief! He went to JARED&#8230;","author":"Greg Swann","date":"October 2, 2007","format":false,"excerpt":"Joel Burslem cites a Glenn Kelman quote from a comment to John Cook's post this morning, but I think this one is more interesting:By the way, no matter how many times the real estate industry insists that we're JARED (Just Another Real Estate Discounter) we can't help but add that\u2026","rel":"","context":"In &quot;Blogging&quot;","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1438,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1438\/not-to-be-missed-marlow-the-hammer-harris-on-the-redfin-hustle\/","url_meta":{"origin":286,"position":2},"title":"Not to be missed: Marlow (The Hammer) Harris on the Redfin hustle","author":"Greg Swann","date":"May 16, 2007","format":false,"excerpt":"Eminently worth waiting for:I\u2019d love to be a fly on the wall at those meetings with the investors and venture capitalists. Pie charts, graphs, facts, figures. Lots of talk about disintermediation and volume of scale and that sort of thing. When Redfin fails, they won\u2019t blame themselves, the business model,\u2026","rel":"","context":"In &quot;Blogging&quot;","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":303,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/303\/reading-the-fine-print-at-redfincom\/","url_meta":{"origin":286,"position":3},"title":"Reading the fine print at Redfin.com . . .","author":"Greg Swann","date":"September 8, 2006","format":false,"excerpt":"Sellsius&176; digs out the details in Redfin.com's Terms of Service. Very interesting reading... Technorati Tags: blogging, disintermediation, real estate, real estate marketing","rel":"","context":"In &quot;Blogging&quot;","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3154,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3154\/what-happens-when-a-lion-of-the-industry-sticks-his-head-in-the-lions-own-mouth-glenn-kelman-joins-bloodhoundblog-as-a-contributor\/","url_meta":{"origin":286,"position":4},"title":"What happens when a lion of the industry sticks his head in the lion&#8217;s own mouth? Glenn Kelman joins BloodhoundBlog as a contributor","author":"Greg Swann","date":"May 21, 2008","format":false,"excerpt":"This is one of those completely obvious ideas that only takes about a year to bubble up to the surface: We write about the real estate industry. We are not very shy about advocating change in the real estate industry. Redfin.com CEO Glenn Kelman is one of the key exponents\u2026","rel":"","context":"In &quot;Blogging&quot;","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1422,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1422\/60-minutes-delivers-400-hits-in-sixty-minutes\/","url_meta":{"origin":286,"position":5},"title":"60 Minutes&#8217; Redfin.com story delivers 400 hits in 60 minutes flat . . .","author":"Greg Swann","date":"May 13, 2007","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Blogging&quot;","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/286","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=286"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/286\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}