You’ve heard of the three-headed monster called ZTR (Zillow, Trulia, Realtor), but you may not have heard of another industry giant, Redfin.
Redfin is coming to Albuquerque soon.
Online real estate portals are shaping the real estate industry, in spite of opposition by the National Association of Realtors in many instances.
I say bring it on, our industry needs change! It needs updating for the new millennium. That’s why I’m happy to say I will be one of the first Redfin Partner Agents in Albuquerque.
What is a Redfin Partner Agent?
A Redfin partner agent is a broker (technically all licensed Realtors are qualifying brokers or associate brokers, not agents in New Mexico) who is not a member of Redfin. You see, unlike ZTR, Redfin is a brokerage. However, as a partner agent I will be remaining with the company that I love, eXp Realty.
eXp Realty is the Agent-Owned, Cloud-Based Real Estate Brokerage.
I will not be listing properties with Redfin, I will be handling overflow buyer leads. Working with home buyers is something I have always excelled at (read my client reviews).
Becoming a Redfin Partner Agent
The process to become a Redfin Partner agent has been rather lengthy. Joing ZTR is fast and easy. So is getting buyer and seller leads. Just write a check.
With Redfin there was much more to signing up.
First there was a mandatory information webinar, followed by a one hour in-person interview. After the interview I was contacted and told I had been approved but that there were more steps to complete. At their request, I provided Redfin with my closed transactions for the previous 18 months and they sent customer service surveys to those past clients. Once the surveys came in (and as far as I know they were all positive) I had to attend another webinar, and it had a quiz at the end!
So yes, I guess you could say the process was thorough. More thorough than ZTR for sure.
Redfin Will Shape the Real Estate Industry
Redfin, like the other national real estate websites before them, will shape the real estate industry in the future. While Rupert Murdoch and Move.com (Realtor.com) try to leverage the Zillow/Trulia monster out of its power seat by cutting off their access to listing syndication through ListHub, Redfin will enjoy full accesss to local MLS data because they are a brokerage. They will be members of the Southwest MLS (search the Southwest MLS).
They’ll be recruiting local agents, no doubt, as they grow, and they’ll be putting pressure on commission structures through their rebate programs.
I thinkg they’ll also be improving customer service by Realtors, something that is sometimes lacking, by surveying the customers throughout the home buying and home selling process.
From someone who walks amongst Realtors, some of whom I respect greatly, but many of which come up short on agent competency and professionalism, and do not serve their clients interests very well, again, I say Bring it On. Bring on Redfin.com.
by Albuquerque Real Estate Agent Rich Cederberg, eXp Realty (505) 803-5012.
The opinions expressed here are mine and mine alone.