Touring houses and Redfin
Common misconceptions about Redfin and our customers…
Misconception: They all play WoW
Comment on Three Oceans, If You Were Designing The Real Estate Industry From Scratch, Would It Look More Like Coldwell Banker Or Redfin?:
Redfin has a business model that I don’t particularly agree with but I think has a chance at succeeding in their niche- the 1% of buyers/sellers who are WoW (World of Warcraft) webdorks who wear witey tighteys, don’t want to wear shoes, and prefer their translucent skin tone over a tan due to not leaving their house other than mandatory migration to their cubicle at Apple.
I know this realtor’s wife is likely exaggerating but you tell me do any of our California or Washington customers look like they fit that description? Do any of our employees?
Granted… Someone brought in a Wii today and our productivity has plummeted to an all time low as everyone gathers around to play and watch in the conference room.
Misconception: People buy without touring the house
Realtor Wives, Why Redfin Will Succeed
BUT, buyers will never purchase a home sight unseen.
I’ve spoken to a lot of Redfin customers and I don’t know of a single one who has bought a house through Redfin site unseen.
How do Redfin customers see houses?
- Open houses
- Touring with the listing agent
- Touring with a Redfin field agent
June 30th, 2007 at 12:02 am
Good thing you knew what WoW was… I wasn’t quite sure.
As for the Whitey Tighties… come on now - they’re supportive :)
July 1st, 2007 at 1:15 pm
Exaggeration? Maybe… more like satire.
Redfin customers see houses in a non traditional way and many online complain that as a listing agent, they are forced to do a buyer agent’s job (aka touring homes with the buyer). But you’re not in Austin so I can’t report direct happenings with Redfin.
The bottom line is that a demographic was being ignored by the Real Estate market (basement nerds who would love to interact almost completely online) and Redfin was smart and swooped in to court them- bravo. Regardless of my personal feelings about the “business model,” you found a niche (like all brokerages should) and went after it. Cynthia noted to me privately that the demo has morphed and that’s good for you guys. No one at Redfin said your model is out to crush all other brokerages, rather to offer an alternative, so I don’t know why the blogosphere’s so lit up! (btw- I published the word “WoW” so it stands to reason I may be a part of the 20-something nerd demographic…)
So in closing, “Redfin and nerd hipsters sittin’ in a tree…”