May 14

Dump Your Real Estate Agent and Save

Is the real estate market about to be knocked ass over teakettles by Web 2.0? That's the hype from a new “60 Minutes” report. What was the name of that company they mentioned, anyway?

Oh, yes, Redfin. The company, as described by TechCrunch, is offering: a combination of MLS listing information (homes for sale) with historical sales data (homes already sold) into a single map. But they take it one step farther than real estate info sites like Trulia and Zillow. According to TechCrunch, if you find a home you may want to buy, Redfin will alpy the role of your buyer broker – backed by a call center with licensed real estate agents. Then, they say, they will reimburse you for 67% of the fee directly on closing. Don't expect much from Redfin today; the company's site is crashing from TV traffic received even before the report aired on CBS on Sunday night.

When the dust settles, let us know if you think Redfin is worth the hype.

Comments

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