Comments on: Commission Conundrum with Luxury Real Estate http://luxuryhomedigest.com/2007/11/12/commission-conundrum-with-luxury-real-estate/ Search luxury homes, luxury lifestyles and luxury news Sat, 22 Nov 2008 10:15:40 +0000 http://wordpress.org/?v=2.6.1 By: Roberta Murphy http://luxuryhomedigest.com/2007/11/12/commission-conundrum-with-luxury-real-estate/#comment-30882 Roberta Murphy Fri, 16 Nov 2007 20:59:13 +0000 http://luxuryhomedigest.com/2007/11/12/commission-conundrum-with-luxury-real-estate/#comment-30882 Glenn: Thanks for your comments, but you leave me confused. If Redfin, Iggy's House and BuySide Realty are not discounters, I can only assume you charge full bore for limited services--and provide a refund for services not performed. I also wonder about risk management, which is a critical component of the services we provide. What happens if a buyer overpays for a property because a desk-bound agent was not familiar with the idiosyncrasies of a particular local market? What protection do you offer home sellers who may not fully understand their duties of disclosure? Has your listing agent inspected the property to the best of his or her ability to note items for disclosure? Do you carry errors and omissions insurance to protect your real estate clients' interests? If so, what do the insurers say about your agents' lack of involvement in the transaction? Glenn:

Thanks for your comments, but you leave me confused.

If Redfin, Iggy’s House and BuySide Realty are not discounters, I can only assume you charge full bore for limited services–and provide a refund for services not performed.

I also wonder about risk management, which is a critical component of the services we provide. What happens if a buyer overpays for a property because a desk-bound agent was not familiar with the idiosyncrasies of a particular local market? What protection do you offer home sellers who may not fully understand their duties of disclosure? Has your listing agent inspected the property to the best of his or her ability to note items for disclosure?

Do you carry errors and omissions insurance to protect your real estate clients’ interests? If so, what do the insurers say about your agents’ lack of involvement in the transaction?

]]> By: Roberta Murphy http://luxuryhomedigest.com/2007/11/12/commission-conundrum-with-luxury-real-estate/#comment-30876 Roberta Murphy Fri, 16 Nov 2007 20:24:50 +0000 http://luxuryhomedigest.com/2007/11/12/commission-conundrum-with-luxury-real-estate/#comment-30876 Terry: I agree and think the San Diego real estate economy would be in a much healthier position today if more rigorous pre-license training--as well as an apprenticeship--had been demanded of real estate licensees. Terry:

I agree and think the San Diego real estate economy would be in a much healthier position today if more rigorous pre-license training–as well as an apprenticeship–had been demanded of real estate licensees.

]]> By: Mark F http://luxuryhomedigest.com/2007/11/12/commission-conundrum-with-luxury-real-estate/#comment-30864 Mark F Fri, 16 Nov 2007 18:02:49 +0000 http://luxuryhomedigest.com/2007/11/12/commission-conundrum-with-luxury-real-estate/#comment-30864 Their agent Erik Van Joosten is a joke. I called his "Redfin San Diego Residence" in July to talk. He was very rude and arrogant. I even asked if he could write an offer for me in Oceanside. He stated he was busy. I gave him the benefit of the doubt because it was the summer...he may have been busy. So I called an agent friend of mine who works for Prudential in La Jolla to verify how many deals he has closed. He stated he has only closed 15 deals dating back to when he got his broker license in 2005. Their agent Erik Van Joosten is a joke. I called his “Redfin San Diego Residence” in July to talk. He was very rude and arrogant. I even asked if he could write an offer for me in Oceanside. He stated he was busy. I gave him the benefit of the doubt because it was the summer…he may have been busy. So I called an agent friend of mine who works for Prudential in La Jolla to verify how many deals he has closed. He stated he has only closed 15 deals dating back to when he got his broker license in 2005.

]]> By: Glenn Kelman http://luxuryhomedigest.com/2007/11/12/commission-conundrum-with-luxury-real-estate/#comment-30667 Glenn Kelman Wed, 14 Nov 2007 21:31:21 +0000 http://luxuryhomedigest.com/2007/11/12/commission-conundrum-with-luxury-real-estate/#comment-30667 Hi there, Say what you like about Redfin, but please don't call us a discounter. We're not offering the same service as traditional real estate agents at a lower price. We offer a different service. The best analogy is that we're not like Half-Price Books; we're more like Amazon. Hi there,
Say what you like about Redfin, but please don’t call us a discounter. We’re not offering the same service as traditional real estate agents at a lower price. We offer a different service. The best analogy is that we’re not like Half-Price Books; we’re more like Amazon.

]]> By: South Charlotte Homes http://luxuryhomedigest.com/2007/11/12/commission-conundrum-with-luxury-real-estate/#comment-30620 South Charlotte Homes Wed, 14 Nov 2007 11:32:29 +0000 http://luxuryhomedigest.com/2007/11/12/commission-conundrum-with-luxury-real-estate/#comment-30620 This is a good thoughtful post- and in this market,could not be better timed. San Diego Sellers need to worry most about getting the right Agent for their property, at the right price...Terry McDonald This is a good thoughtful post- and in this market,could not be better timed. San Diego Sellers need to worry most about getting the right Agent for their property, at the right price…Terry McDonald

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