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RSS FeedWill Deep Discounts Make Buyers Really Happy, and Make Them Repeat Customers? |
Posted at Deerfield Illinois Real Estate Market by Louis Gipp
Apr. 11, 2008
Categorized in: Buyers
Tagged with: minimum service brokerage, real estate buyer rebates, real estate commission refund, redfin direct, redfin select
Just read the Inman News article about Redfin and their new lower rebate plan. As I was reading the article a couple of things came to mind.
One is that it seems that consumers want to save money. So they look at some of these flat rate or minimum service companies, to save money. If people want more service then they have to pay more to get those services. It kinda reminds me of the heath care industry; back in the mid to late 70's it was thought that if costs were unbundled the consumer would then be able to make choices to receive the health care they needed and wanted. Currently, health care cost continues to be a major concern of businesses, consumers, and government. Part of the problem is that health care consumers do not get enough information to make rational choices. I wonder if the real estate industry is heading in the direction.
The second thought that came to mind is that as real estate agents we seem to have a dificult time in educating the public. The public now has too much information to weed through; and how much of that is accurate? Buyers and sellers seem to forget that all real estate is local, to buy or sell one still needs "boots on the ground." I believe the public deserves more than two hours of my time, certainly to see five or six homes. And please a 40 minute rush hour tour...what is that about. I mean this is the largest financail decision many people will make. I mean I can see it now:
Agent: Okay, Okay! Get in the car, were running a little behind schedule.
Client: But, you were late!
Agent: Well it's rush hour you know...I guess we should go to 712 Drury Lane, follow that up with 71 Seventeenth St, or was that 17 Seventy First?
Client: It's 71 Seventeenth, and can't we see 3745 Pleasant first...it looks like it has possibilities....
One is that it seems that consumers want to save money. So they look at some of these flat rate or minimum service companies, to save money. If people want more service then they have to pay more to get those services. It kinda reminds me of the heath care industry; back in the mid to late 70's it was thought that if costs were unbundled the consumer would then be able to make choices to receive the health care they needed and wanted. Currently, health care cost continues to be a major concern of businesses, consumers, and government. Part of the problem is that health care consumers do not get enough information to make rational choices. I wonder if the real estate industry is heading in the direction.
The second thought that came to mind is that as real estate agents we seem to have a dificult time in educating the public. The public now has too much information to weed through; and how much of that is accurate? Buyers and sellers seem to forget that all real estate is local, to buy or sell one still needs "boots on the ground." I believe the public deserves more than two hours of my time, certainly to see five or six homes. And please a 40 minute rush hour tour...what is that about. I mean this is the largest financail decision many people will make. I mean I can see it now:
Agent: Okay, Okay! Get in the car, were running a little behind schedule.
Client: But, you were late!
Agent: Well it's rush hour you know...I guess we should go to 712 Drury Lane, follow that up with 71 Seventeenth St, or was that 17 Seventy First?
Client: It's 71 Seventeenth, and can't we see 3745 Pleasant first...it looks like it has possibilities....
(agent breaks in)
Agent: Oh, I have that last...I already programed that into my GPS, and quite frankly with the heavy traffic and all. And I need the GPS or I'll get us lost. Okay, 712 Drury Lane...nice curb appeal, should we go in?
Client: Yes the house is nice, but what's with all the cars on the neighbors lot, some look like they've been abandoned, and the other neighbor has a tarp on the roof that looks like it's been there since the Bush administration...you know the first Bush. No let's move on.
Well you get the idea how this story ends. The clients needs and wishes are not met, feels riped off, and yet another black eye for our industry. If this is the way of the future, then count me out, I want to meet people and take the time to know their wishes and dreams.
Client: Yes the house is nice, but what's with all the cars on the neighbors lot, some look like they've been abandoned, and the other neighbor has a tarp on the roof that looks like it's been there since the Bush administration...you know the first Bush. No let's move on.
Well you get the idea how this story ends. The clients needs and wishes are not met, feels riped off, and yet another black eye for our industry. If this is the way of the future, then count me out, I want to meet people and take the time to know their wishes and dreams.
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