Redfin’s Claim of Super-Agent on 60 Minutes
“The average agent processes eight deals a year. We have an agent that can do that every week,” Kelman explains.
“Are you spinning me?” Stahl asks.
“I mean, seriously,” Kelman replies.
I reviewed the segment again this morning. I believe the key word Glenn used was “can”…. as in Redfin has an agent who can close eight deals per week if market conditions allow. If Redfin did have an agent who was closing eight deals per week, it seems Glenn would have said, “We have an agent who is doing that every week”. However, the impression of eight deals per week is certainly made. But it’s like a coach saying “we have a running back who can rush for 100 yards per game each week”. They’re both statements that speak of potential. In my opinion, Glenn was speaking to Redfin’s technological and organizational advantage over the average “traditional” agent rather than current performance.
Furthermore, “I mean, seriously” doesn’t seem like a confident response to the question, “Are you spinning me?”. I would expect “No”, “Absolutely Not”, or “Not spinning at all”.
In any event, I invite Redfin’s super-agent to publish his or her MyAgentRankâ„¢ badge on a website or weblog and allow their sales data to be vetted by the public.
May 15th, 2007 at 9:16 am
How could it be that Leslie missed that point. Perhaps , could it be ? that she was biased before she did the segment. The old adage - you see what you want to see - seems to apply here and to most “journalism” these days.
Spin and news are synonymous these days. Correction - they are the same word.
May 18th, 2007 at 10:51 am
Basically I don’t have a problem with Kleman’s statement. Yes it was a theoretical point (*can* vs. *does*) but in my opinion the statement wasn’t disingenuous.
Basically a Realtor could close this volume of deals if the *buyer* was doing all the footwork and the Realtor was focused on getting the paperwork processed…not trolling for clients, updating her blog, and doing all those other things that agents have to do to keep leads rolling in.
Case in point: I’m an investor – many times I don’t use a realtor, but sometimes I do simply because it helps me manage the volume of transactions I’m trying to accomplish. In my particular case, basically what I need is for someone to open the supra so I can get to the keys to look at properties, and to make sure the paperwork drill happens. I do the legwork and screening myself, and 95% of the data and information that my Realtor can access I can get myself via public sources.
What I’m asking for, in my opinion, is not $12,000 worth of work (assuming 3% on a $400k multifamily).
I’m sure that in the future there will still be a component of consumers who want the full enchilada drive-around-in-the-Realtor’s-Lexus treatment, just as there are still investors who use a full service stockbroker and fliers who use a travel agent to book flights. Full service is time consuming and worth the 3%.
But as for me: I’m an E*Trade, Expedia.com, Orbitz.com kind of guy. More and more there will be consumers like me who will go for a Redfin type of service. I can’t vouch for eight deals per week, but I know that the Redfin Realtor be more efficient than the current business model. And that’s good for a lot of consumers out there.
May 21st, 2007 at 4:25 am
I think it’s so common to hear, “can” these days that people just overlook it. Almost every tv commercial “can” do something, and we all just accept it.
June 16th, 2007 at 9:45 am
Do you realize what you are contending is strictly of concern only to the real Sales estate agent. You missed the point of the 60 minutes special on Redfin.
It ENABLES the buyer instead of Disabling the potential buyer from finding basement fair-real-market competitive prices. Your industry has been lobbying for laws that enable you guys and keep us out of the markets.
I suppose you will still contend that a postage stamp lot with a LI bungalo style that you guys will call a CAPE fixer upper is really worth $250000.
Get Real and keep out of my business. I don’t want or need an agent, I just want the MLS all the time , you don’t own it. PJ
January 26th, 2008 at 4:10 pm
There are not too many agents doing eight deals a year in this market let alone eight a week. We are not getting affected as bad hear in Hawaii and sales are still down. Most agents are sucking wind.