{"id":6885,"date":"2009-02-11T16:47:41","date_gmt":"2009-02-11T23:47:41","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=6885"},"modified":"2009-02-11T16:45:58","modified_gmt":"2009-02-11T23:45:58","slug":"how-can-you-benefit-from-the-sexiest-search-site-in-the-real-estate-20-world-without-becoming-an-employee-redfincom-is-going-into-the-referrals-business","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6885\/how-can-you-benefit-from-the-sexiest-search-site-in-the-real-estate-20-world-without-becoming-an-employee-redfincom-is-going-into-the-referrals-business\/","title":{"rendered":"How can you benefit from the sexiest search site in the Real Estate 2.0 world without becoming an employee? Redfin.com is going into the referrals business"},"content":{"rendered":"

I had this news last night, under embargo, but I was tied up with geek stuff. The Cliff’s Notes: In areas where Redfin.com<\/a> has MLS reach but does not have its own agents on the ground, starting today it will begin offering client referrals to agents it has screened and whose performance it will monitor and publicize on its website.<\/p>\n

What follows is a piece of an email sent me by Redfin.com CEO (and BloodhoundBlog contributor) Glenn Kelman:<\/p>\n

Maybe this seems like deck chairs on the Titanic because it doesn’t fix sub-agency – which I agree needs to be fixed — but it seems like a step forward to us. I mentioned it when we increased our prices and offered unlimited tours, that we had one more rabbit in the hat.<\/p>\n

Starting tomorrow Redfin is going to start connecting folks in outlying areas to real estate agents who work for other brokerages. This has been done many, many times before, and it’s something Redfin could have done years ago, given all the traffic we have in outlying areas.<\/p>\n

The Redfin twist – and the reason we waited so long — is that we wanted to do in a customer-centric way that also works for agents. Here’s what that means:<\/p>\n

    \n
  1. Data:<\/strong> We suck in data about all the agents’ deals for the past year and we survey all their clients and then we publish *everything* — reviews, deals – on a continually updated web page. We survey every new deal too. The reviews we got are mostly good – too good right now – but that’s because response rates are low for long-past deals with only happy people replying. We do show every no-response, and every deal where the agent did not provide an email address for a past sale (they can’t do that going forward).\n<\/li>\n
  2. Consumer in charge:<\/strong> The consumer is in charge, choosing the agent he wants to work with based on all this performance data (see attached screenshot) & he can fire the agent any time – no procuring-cause, no leads, no fees for leads, & the consumer always knows what he’s signing up for.\n<\/li>\n
  3. Referral fee Read more<\/a><\/strong><\/li>\n<\/ol>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

    I had this news last night, under embargo, but I was tied up with geek stuff. The Cliff’s Notes: In areas where Redfin.com has MLS reach but does not have its own agents on the ground, starting today it will begin offering client referrals to agents it has screened and whose performance it will monitor […]<\/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":[4,6,5,27,19],"tags":[],"class_list":{"0":"post-6885","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-disintermediation","7":"category-marketing","8":"category-real-estate","9":"category-redfincom","10":"category-technology","12":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":281,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/281\/if-bill-clinton-ran-redfincom\/","url_meta":{"origin":6885,"position":0},"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":5446,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5446\/offering-more-service-to-buyers-for-a-bigger-slice-of-the-buyers-agents-commission-redfin-moves-closer-to-traditional-real-estate\/","url_meta":{"origin":6885,"position":1},"title":"Offering more service to buyers for a bigger slice of the buyer’s agent’s commission, Redfin moves closer to traditional real estate","author":"Greg Swann","date":"November 6, 2008","format":false,"excerpt":"When I represent buyers, I see my biggest responsibility as taking the fear away. Yes, I need to find and show houses. Yes, I need to write contracts and supervise inspections. Yes, I need to husband everything through the lender and the title company. But the job of jobs is\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":236,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/236\/how-to-exterminate-a-cowbird-a-comedy-in-three-acts\/","url_meta":{"origin":6885,"position":2},"title":"How to exterminate a cowbird — a comedy in three acts . . .","author":"Greg Swann","date":"August 23, 2006","format":false,"excerpt":"Act I -- Why Realtors hate discount listings... People think ordinary on-the-ground Realtors hate discount listings because of the discount. That's may be true of many real estate brokers, but real-life Realtors have two much better reasons to hate discount listings. First, the Buyer's Agent will have to do all\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":2832,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2832\/redfincom-beats-the-field-again-this-time-in-both-seattle-and-san-francisco-buyers-pay-less-and-reap-commission-rebates-too\/","url_meta":{"origin":6885,"position":3},"title":"Redfin.com beats the field again, this time in both Seattle and San Francisco: Buyers pay less and reap commission rebates, too","author":"Greg Swann","date":"March 25, 2008","format":false,"excerpt":"Redfin.com has news this midnight, but it's the sort of thing I would normally ignore: It's basically the kind of rah-rah-for-us stuff I leave for the vendor cheerleaders and the mainstream media. But: I gave Redfin a lot of grief last year when they made a similar announcement, so today\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":10658,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10658\/whos-afraid-of-redfincom\/","url_meta":{"origin":6885,"position":4},"title":"Who’s Afraid of Redfin.com?","author":"Brian Brady","date":"December 21, 2009","format":false,"excerpt":"Bob Haywood, an Owasso, OK real estate agent makes a case for why you should be aware of Redfin.com.\u00a0 Bob articulates, from behind the cloaked wall on Active Rain, why Redfin.com is the REAL agent of change in the real estate industry.\u00a0 Read what Bob has to say: You should\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":6885,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/6885","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=6885"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/6885\/revisions"}],"predecessor-version":[{"id":6886,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/6885\/revisions\/6886"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=6885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=6885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=6885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}