Redfin makes it worse for Agents Day 53 Your Million Dollar Year. So the listing agent from Redfin gets a 1% commission on the sale, but not even that much when you drill into this system. The Buyer’s agent was getting 3%, but not anymore. Redfin is quietly working to reduce that as well. It is clear this technology company thinks nothing of the profession that serves the communities. Redfin says they care about the consumer, but this, to me, is hard to believe when you take away the power of the agent to consult and care in a real way and, by your actions, diminish the roll of a professional.
In my office there are several 20 somethings just out of college and eager to have no contact with humans in a real way other than through electronic means. Text, don’t call is the mantra. One of them feels as though it is good for Redfin to make it possible to do all the process of buying or selling a house through her phone. She called it brilliant marketing. She is young and so many years away from actually being able to pull that trigger on a purchase.
The purchase of a home is large and complicated financial and personal maneuver in a way that no amount of information readily available through a portal is going to help you in a meaningful way. You won’t learn about your towns zoning laws, you won’t understand the town infrastructure enough to know your tax implications during your ownership. You won’t know about the construction, electrical or plumbing issues that Agents can sniff out because of their daily experiences. No, Redfin, is not making the world better for consumers, it is leading them down the path of save some money and give up your power to be informed. Redfin makes it worse for Agents Day 53 Your Million Dollar Year