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May 15, 2007


Douglas Heddings

Thanks for sharing Christine. Totally agree that the Redfin model isn't likely to take hold in New York, but I do believe it will last (maybe not Redfin itself but some form of discount brokerage). There are a large enough number of "discount" shoppers out there who will use their services. Question is whether or not there are enough to sustain this type of business model???

BTW...I didn't think the woman they chose to portray our profession was an accurate display of the creme de la creme of our industry but unfortunately, I think she's the norm.


Doug - as much as I would want to I can not disagree with you about the agent that they "picked" to "defend" our industry.
I don't think that discounters can stay in this business when they are paying a salary so I don't think that Redfin's model is the best route to go. I do also agree with you that there will always be a need for discounters just like there will always be a need for Kmart and Walmart. But, I do feel that an agent who leaves a firm that is only commission based to work for Redfin is probably not a very great agent and did not close many deals. My salary that I can determine for myself is unlimited with my own sales. I know that Foxton's pays a portion of a salary to the agents, but even they had to increase to 3% to stay afloat after they closed three major branch offices.
In that sense I don't think that Redfin would last. Also, I like what I do, I really do - to me it is not a JOB - it is my career that I picked and I like doing what I do. I like building the relationship with the buyers or the sellers and in the end - I like that everyone work for the same goal and for the most part leave the closing happy.

Douglas Heddings

I actually like what I do too Christine :-D Go figure. Foxton's is a great example of the discount brokerage model struggling to survive in NY. I have worked with a few sellers over the years who came to me after a bad experience with Foxton's. I think you're absolutely right that the agents who work for these firms do so because they struggle in the industry.

Keep up the good work...love the personality of your blog!


I’ve taken a quick look at your postings, which are very interesting. Lots of material and ideas! Congrats on being so focused!

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