Comments on: The Redfin Advantage http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/ The tech behind the bubble Thu, 04 Dec 2008 00:02:47 +0000 http://wordpress.org/?v=2.5 By: Reba Fulton http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-14211 Reba Fulton Thu, 13 Nov 2008 00:06:57 +0000 http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-14211 oyilskyx3d3z3h07 oyilskyx3d3z3h07

]]> By: simpson http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-2145 simpson Tue, 25 Dec 2007 16:46:06 +0000 http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-2145 Yet, yet in a litany of your enemies. It <a href="http://margeswim.actieforum.com" rel="nofollow">marge simpson swimsuit</a> can even after all kinds. This. Yet, yet in a litany of your enemies. It marge simpson swimsuit can even after all kinds. This.

]]> By: Cosmo Seattle http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-79 Cosmo Seattle Tue, 27 Feb 2007 21:39:27 +0000 http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-79 Hi Matt- Thanks for the reply. First off, I don’t mean to be critical, I think you guys are doing a great job and I look forward to your success. Rather, I’m digging at the user content that all this technology affords—the bits that companies like Redfin and ZipRealty use to runt their business. The Redfin Advantage paper is a good start. While most of the reaction to the Advantage paper is challenging your numbers, I’m more interested in the ways that user-produced content has yet to be leveraged. Consider realtor blogs (I’m thinking individual agents rather than agency blogs). The kind of information that is being published would historically only be available through direct contact with the agent—and with the potential for representation. Technology and competitive pressures would seem to be two prime motivators of this recent (past year or two) openness. The difference between http://realestate.mattgoyer.com and urbnlivn.com is a good example of what I’m talking about. Whereas this blog is ultimately part of the Redfin service, urbnlivn is part of a marketplace for openness. Soon a young startup will emerge using the Redfin model (assuming that Redfin succeeds in the big game). However, in order to be competitive this new startup will have to offer a competitive advantage. That advantage, I predict, will be in the form of information that their competitors would prefer not to share. Once again, I think Redfin is doing a great job. My motive here is to reflect on the possibilities. And frankly, the fee is not an issue. I’d be willing to pay–-through exclusive contract or a different fee structure--for the opportunity to level the playing field a bit more. Check out my blog post for more background. Cheers, Cosmo Seattle Hi Matt- Thanks for the reply. First off, I don’t mean to be critical, I think you guys are doing a great job and I look forward to your success. Rather, I’m digging at the user content that all this technology affords—the bits that companies like Redfin and ZipRealty use to runt their business. The Redfin Advantage paper is a good start. While most of the reaction to the Advantage paper is challenging your numbers, I’m more interested in the ways that user-produced content has yet to be leveraged.

Consider realtor blogs (I’m thinking individual agents rather than agency blogs). The kind of information that is being published would historically only be available through direct contact with the agent—and with the potential for representation. Technology and competitive pressures would seem to be two prime motivators of this recent (past year or two) openness.

The difference between http://realestate.mattgoyer.com and urbnlivn.com is a good example of what I’m talking about. Whereas this blog is ultimately part of the Redfin service, urbnlivn is part of a marketplace for openness. Soon a young startup will emerge using the Redfin model (assuming that Redfin succeeds in the big game). However, in order to be competitive this new startup will have to offer a competitive advantage. That advantage, I predict, will be in the form of information that their competitors would prefer not to share.

Once again, I think Redfin is doing a great job. My motive here is to reflect on the possibilities. And frankly, the fee is not an issue. I’d be willing to pay–-through exclusive contract or a different fee structure–for the opportunity to level the playing field a bit more. Check out my blog post for more background.

Cheers,
Cosmo Seattle

]]> By: Matt Goyer http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-78 Matt Goyer Tue, 27 Feb 2007 20:37:58 +0000 http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-78 I don't think we would charge a fee for providing users access to user-produced content. Much like we don't charge a fee today for providing users access to data which is very expensive for us to acquire (parcel outlines.) It's our goal to build the best damn MLS search site on the Internet. Charging for access to certain parts of the site/data would hinder our success in doing that. I don’t think we would charge a fee for providing users access to user-produced content. Much like we don’t charge a fee today for providing users access to data which is very expensive for us to acquire (parcel outlines.)

It’s our goal to build the best damn MLS search site on the Internet. Charging for access to certain parts of the site/data would hinder our success in doing that.

]]> By: Cosmo Seattle http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-76 Cosmo Seattle Tue, 27 Feb 2007 20:08:38 +0000 http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-76 "In the same way that independent agents are innovating online, I can imagine a time in the not-so-distant future when online brokerage firms take competitive advantage of their user-produced content by sharing it with the people who created it. I can also imagine that there would be a fee for this service." “In the same way that independent agents are innovating online, I can imagine a time in the not-so-distant future when online brokerage firms take competitive advantage of their user-produced content by sharing it with the people who created it. I can also imagine that there would be a fee for this service.”

]]> By: Brian Brady http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-72 Brian Brady Tue, 27 Feb 2007 04:33:38 +0000 http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-72 >Seattle has been a rising market for as long as Redfin has been doing business here Thanks, Matt. You answered my question perfectly. I'll be looking forward to your California results >Seattle has been a rising market for as long as Redfin has been doing business here

Thanks, Matt. You answered my question perfectly. I’ll be looking forward to your California results

]]> By: Matt Goyer http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-71 Matt Goyer Tue, 27 Feb 2007 04:26:15 +0000 http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-71 Seattle has been a rising market for as long as Redfin has been doing business here and as we've shown our negotiating expertise works. I don't really get Dave's comment since the paper is focused on our buying agent abilities, not selling so I don't see how it suggests are agents are ignorant. Seattle has been a rising market for as long as Redfin has been doing business here and as we’ve shown our negotiating expertise works.

I don’t really get Dave’s comment since the paper is focused on our buying agent abilities, not selling so I don’t see how it suggests are agents are ignorant.

]]> By: Brian Brady http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-70 Brian Brady Tue, 27 Feb 2007 04:21:05 +0000 http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-70 Matt: I'd be intrigued about the garden variety Redfin agent's negotiating expertise in a rising market, like Manhattan. Will your agent's' careful counsel work in that type of market also? Dave's comment suggests that Redfin agents are ignorant to pricing expertise. Matt:

I’d be intrigued about the garden variety Redfin agent’s negotiating expertise in a rising market, like Manhattan. Will your agent’s’ careful counsel work in that type of market also? Dave’s comment suggests that Redfin agents are ignorant to pricing expertise.

]]> By: BloodhoundBlog http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-69 BloodhoundBlog Tue, 27 Feb 2007 04:16:33 +0000 http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-69 <strong>Thinking skeptically to rain on Redfin.com’s parade . . ....</strong> I’m not a Jesuit, but I play one on BloodhoundBlog. The real truth is, I’m a roll-your-own Jesuit, more auto-didact than anything. I didn’t have Brian Brady’s inestimable advantage of having had the gift of reason literally poun... Thinking skeptically to rain on Redfin.com’s parade . . ….

I’m not a Jesuit, but I play one on BloodhoundBlog. The real truth is, I’m a roll-your-own Jesuit, more auto-didact than anything. I didn’t have Brian Brady’s inestimable advantage of having had the gift of reason literally poun…

]]> By: Matt Goyer http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-68 Matt Goyer Tue, 27 Feb 2007 03:55:50 +0000 http://realestate.mattgoyer.com/2007/02/26/the-redfin-advantage/#comment-68 Thanks, we do what we can with limited resources. ...I meant that our real estate operations team would be busy working with clients answering questions, showing homes, negotiating, closing deals, etc. It's really only Rob, Glenn, Eric, Cynthia and I that are the obsessive blog followers. Of those people Rob's the only agent. Thanks, we do what we can with limited resources.

…I meant that our real estate operations team would be busy working with clients answering questions, showing homes, negotiating, closing deals, etc.

It’s really only Rob, Glenn, Eric, Cynthia and I that are the obsessive blog followers. Of those people Rob’s the only agent.

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