Thursday, July 19, 2007

My Opinions on Redfin

What can I say? For those of you who have checked out the site since my blog yesterday, I would love to hear your opinions! For those of you expecting to hear what my opinion of their success will be here it goes.

Redfin is a brilliant company based out of Cali that targets those who are comfortable using the internet as a medium for their home purchase. I would expect that a typical home buyer who has had experience in the past purchasing a home would feel more comfortable using this system. First time home buyers might not. Even experienced home buyers might not either. Too much trust is placed on a non-experienced site with little to no objection or input from someone experienced with the process. Ill give you an example. Did you know that if you own a home and have a basement without a Certificate of Occupancy or business license that is being rented out for any number of years you will liable to pay the tenant back all of their rent since their first day of occupancy or possibly face jail time or fines up the wazoo! That is if your tenant ever gets mean and decides to sue you. How about what constitutes a bedroom. Did you know that just because you have a room in your house with a closet doesnt mean its a bedroom. It must have two means of egress for safety (exits). What if a seller sells a home that they called a 4 bedroom home when it only has 3 legal bedrooms. Guess what? Lawsuit time! I have a few lawyers that would love to get their hands on that one. And what about purchasing a home that was remodeled without permits? If you buy it, you buy the violation and now the buyer is responsible for the problems.

No site in the world can offer the value and protection of an experienced agent. Do I think the industry will get more competitive? Absolutely! But real estate will never be agent free, there is a human element required to ensure the transaction progresses smoothly and hassle free. Redfin cant offer that.

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