Home Buying in San Diego>Question Details

Maureen McCa…, Real Estate Pro in Columbus, OH

Is Redfin in the San Diego area? If so do they have much presence?

Asked by Maureen McCabe, Columbus, OH Sun May 20, 2007

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Redfin has a miniscule presence in San Diego with no listings and one sale to date. The sole Redfin agent appears to be working out of his home, because the office has a Seattle address. The 2.5 percent commission earned on that sale must have been a disappointment to Glenn Kelman. If I recall, Redfin's CEO is counting on 3 percent. Oh well....
Web Reference: http://LuxuryHomeDigest.com
4 votes Thank Flag Link Sun May 20, 2007
Roberta Murp…, Real Estate Pro in San Diego, CA
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I think Redfin will have problems in CA as the company has based its business model on receiving 1% from a 3% commission fee which is not the norm in CA. Manytimes the co-op offered is 1.5-2%... if Redfin continues with the policy of giving back 2% to the buyer it could find itself either running a deficit or receiving no money... Unless of course they change their message.
3 votes Thank Flag Link Mon May 21, 2007
Kaye Thomas, Real Estate Pro in 90266
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Redfin, according to Sandicor (our local Multiple Listing Service) has the one sale to their credit so far, but their one agent has said that they are actually responsible for three sales to date. I believe he said the other two were new homes (which aren't generally reflected in the MLS numbers). It is early, however. They just entered the San Diego market in February. Roberta is correct - Their one agent does work from his home, as many agents do.
3 votes Thank Flag Link Sun May 20, 2007
Redfin has a small presence in San Diego. They have one agent in Del Mar (which follows their "geeks with nice houses" niche market-as explained by their President). A similar model, ipayone, has suffered tremendous financial difficulty and recently had to suspend listing homes. If you can't earn a profit, you can't exist long-term. Can you inagine having your home listed and the listing agent goes out of business?
Web Reference: http://brian-brady.com
2 votes Thank Flag Link Tue May 22, 2007
I didn't even know about Redfin being in San Diego! I'm excited about it. Like the discounters it'll make my life that much easier. Seriously, what great agent would work there? That's the question I like to pose to my prospects?
0 votes Thank Flag Link Wed Sep 26, 2007
Redfin is just starting. How many major startups have you seen in real estate in recent decades? It's not easy!

You may have heard of the controversial Redfin blogs. Redfin has had to make changes to the way they communicate to the public and you can see the result for yourself. Again, it's just starting in San Diego.

I'm one of the new bloggers and hope to provide interesting news & insight on the San Diego East market. Once I figure out the blog software I'll be more prominent at the site. I'd love to see your comments on Redfin, the blog, and the San Diego market. I hope this will benefit all the professionals and the buyers/sellers in the area.
0 votes Thank Flag Link Sat Aug 18, 2007
Agreed, very minmal presence.
0 votes Thank Flag Link Wed Aug 15, 2007
Redfin continues to have a very minimal presence in San Diego. At the RE Connect Conference in San Francisco earlier this month, Redfin's CEO acknowledged that Southern California has been a real struggle.
0 votes Thank Flag Link Tue Aug 14, 2007
Roberta Murp…, Real Estate Pro in San Diego, CA
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