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Redfin is profitable


Among the many things recently that I've found very surprising, some real estate agents refuse to work with you (aka show their listings) if you indicate that you found their listing on Redfin. How self defeating can you get? There's a 3% of profit out there if you take the trouble to show homes to people who are interested in them. If you don't, someone will eat your lunch for you.

I sometimes wish I could post up a list of agents who gave me a tirade on why the Internet Is Bad for their business and how I'm a horrible person for using Redfin. For a moment, consider this: you are the seller and your (friend/buddy/colleague) tells you that your agent just spoke to a prospective buyer in that manner. What do you think is likely to happen? Do you really want to do that?

I'm thrilled with Redfin, I couldn't find a smarter, better and well thought out site. I'm also thrilled about the announcement that Redfin is profitable. I liked their seminars, they were clever and pointed out why working with them is good; but didn't act all clingy and creepy and force you to work with them. I think this techcrunch is dead on here, if I was in the traditional real estate industry, I'd be shuddering as well.

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