Discount brokers may not be new, but the ability to point and click one’s way to more and more pertinent information is very much a new thing, and will just get better and more thorough. While I don’t see myself using Redfin as a broker, I do think they have a more buyer-useful website than any broker site I have seen. I have yet to see any broker site provide past sales, tax assessment and (most useful of all) recent nearby comps (broken in $/ft) info like Redfin does. Why does it take a “discount broker” to provide the best information?

By the way, the “Real Estate” section in today’s San Jose Mercury News (another dying paper) has a full cover page illustration of a Realtor(R) sitting on a cheap suticase, head burried in hands, “House for Sale” and “Open House” signs lying at his feet. Large Print (take up whole upper half of page) states” REALTOR WOES”. The smaller print at the bottom says “Owners aren’t the only ones feeling the pinch in a sagging market”.

I did not notice at first, but the whole section is an “Advertising Section”. The accompanying article is a pity-puff piece on realtor(R) woes.

Notable: “At the pinnacle of the market … [NAR] boasted a total membership of 1.37 million licensed Realtors”. Says that is “nearly one Realtor for every 110 Americans”. Goes on to state that number is down by nearly a tenth. Then comes my favorite part:

“Why? Perhaps it has something to do with a sense of misplaced anger among homeowners toward those they see as part of the problem. It’s natural to feel bitter toward the person you may feel helped arrange a frustrating situation.”

Normally, I would toss my Cherios reading such condescending tripe. But, I had already seen the “advertising section” (in small print) and was able to keep my breakfast in tact for bodily processing.

I put the section in the “snail mail” to you and Steve.

OK, Smithers, done. I also mentally added an “e” to “forgoing” while I was at it.

You are right. If it wasn’t Redfin, it would be someone else, and it has always been so. Discount and limited services brokers are nothing new. They will always exist and there will always be some market for their services (Jakob).

I always enjoy your relatively balanced comments, by the way.

(as I said about the lack of brain power …)

Now Kris, I closed with “(probably not”)” because I know that you and Steve would not take pleasure (at least in public) in the misfortune of others, even those nasty, vilifying (former) newspaper people.

Steve, I suspect the number of affiliated agents or prior closings or whatever for a “buyer’s side” agent is not important to Jakob, but he can speak for himself. I would speculate that he has done all his homework on selection and pricing, and views the “value” of an agent at 1% of his purchase price instead of 3% (or thereabouts), even though he also knows he will get less “service”.

Jakob may miss something that an experienced agent may have spotted and pointed out to him that would have caused him pay less or pass altogether on the house (i.e., saved his bacon), but that is unlikely. And, let’s face it, the tract record of realtors(Rs) “saving peoples’ bacon” over the last several years has been less than stellar (yes, I know, many exceptions). Instead, it’s been all about the closings.

I can see where having an experienced agent would be important for most people for selling, and for many people (e.g., my parents), it is also would be very important for buying. But, not for all people, especially with all the information that is available on web sites like (sorry, got to say it) Redfin (e.g., previous purchace price, tx assessments, nearby actual sales comps are good stuff).

Redfin may well fail, but there will be others like it until someone finally gets it right.

(The forgoing opinion is just that; no real expertise or brain power was involved).

Expanding in San Diego? Once you see their numbers, you can decide for yourself if that is a valid perception. Of course, Kris and I are always looking to add another good agent. I guess that means we are expanding in SD, too.

2 of their agents I worked with had just joined, and one mentioned that Redfin is looking to hire another agent in San Diego. They definitely seem to be expanding their presence here.

Maybe someone with MLS access could actually get numbers on how many they sell and buy here? That would actually be really interesting.