Tuesday, May 15, 2007
I wish that I could take credit for the above headline, but it was from a commenter on the CBS News Web site about a fluff piece for Redfin, the Seattle based, limited services "broker" on 60 Minutes titled "High-tech Real Estate Moves In". It comments on a part of the story where Lesley Stahl interviews Kelly Engel, a former full service agent now working for Redfin, who thought that she had no right earning her salary, "I had done quite a few deals where I spent maybe five hours total working on the deal. I never saw the house. My client found it online and, you know, I would make $12,000 for four hours of work. And I thought this cannot keep going on like this. I felt like I was going to get caught!"; well this slacker agent has certainly found the right company to work for. Would you want someone representing your interests who feels guilty about collecting her own salary? Might she feel you were making too much profit selling your home too, because you've owned for just a few years? This kind of quick deal scenario is truly the exception. The Redfin pitch is full of self serving misrepresentations about easy money.