Comments on: The Redfin Advantage http://seattlehousingbuzz.com/2008/03/the-redfin-advantage a Seattle Real Estate Blog Thu, 04 Dec 2008 04:45:20 +0000 http://wordpress.org/?v=2.3.1 By: The Advantage That Isn't... http://seattlehousingbuzz.com/2008/03/the-redfin-advantage#comment-101008 The Advantage That Isn't... Sat, 29 Mar 2008 19:00:06 +0000 http://seattlehousingbuzz.com/2008/03/the-redfin-advantage#comment-101008 [...] to Ben at Seattle Housing Buzz for the idea. Sphere: Related [...] […] to Ben at Seattle Housing Buzz for the idea. Sphere: Related […]

]]> By: Sandy http://seattlehousingbuzz.com/2008/03/the-redfin-advantage#comment-101005 Sandy Sat, 29 Mar 2008 18:49:37 +0000 http://seattlehousingbuzz.com/2008/03/the-redfin-advantage#comment-101005 Hi Ben--love this idea for a post. Just out of curiousity, I ran the same numbers and was happy with what I found out. Though as BIG pointed out, we are not really talking about a statistically significant sample or anything. Of course, Redfin's advantage would also not be considered statistically significant once you account for a margin of error. :-) Hi Ben–love this idea for a post. Just out of curiousity, I ran the same numbers and was happy with what I found out.

Though as BIG pointed out, we are not really talking about a statistically significant sample or anything. Of course, Redfin’s advantage would also not be considered statistically significant once you account for a margin of error. :-)

]]> By: Ben http://seattlehousingbuzz.com/2008/03/the-redfin-advantage#comment-100968 Ben Sat, 29 Mar 2008 00:48:37 +0000 http://seattlehousingbuzz.com/2008/03/the-redfin-advantage#comment-100968 Big - Certainly, I haven't done the number of transactions that Redfin has, so there is validity to your statement. However, the same argument can be made for Redfin, whose local market share is about 1.5% (Redfin does the same amount of business as a medium-sized single office of a major brand). Therefore, according to your statement, Redfin's own published numbers are not a valid comparison to the real estate market as a whole. No, my results are not an apples-to-apples comparison to Redfin. Plus, there are a number of other factors that must be considered - time on market, terms of the contract, seller concessions and so forth. That said, the numbers I presented above are accurate. Big - Certainly, I haven’t done the number of transactions that Redfin has, so there is validity to your statement. However, the same argument can be made for Redfin, whose local market share is about 1.5% (Redfin does the same amount of business as a medium-sized single office of a major brand). Therefore, according to your statement, Redfin’s own published numbers are not a valid comparison to the real estate market as a whole.

No, my results are not an apples-to-apples comparison to Redfin. Plus, there are a number of other factors that must be considered - time on market, terms of the contract, seller concessions and so forth. That said, the numbers I presented above are accurate.

]]> By: BIG http://seattlehousingbuzz.com/2008/03/the-redfin-advantage#comment-100967 BIG Fri, 28 Mar 2008 23:39:42 +0000 http://seattlehousingbuzz.com/2008/03/the-redfin-advantage#comment-100967 What number of sales do the "Ben" savings averages represent? I suspect that it is a sample size of less than 30 and in a much smaller geographical area. If so, then the numbers are not a valid comparison. Redfins comparison to the whole market and all of their sales is interesting. To determine if it is significant would require a little more analysis than what they have presented. What number of sales do the “Ben” savings averages represent? I suspect that it is a sample size of less than 30 and in a much smaller geographical area. If so, then the numbers are not a valid comparison.

Redfins comparison to the whole market and all of their sales is interesting. To determine if it is significant would require a little more analysis than what they have presented.

]]> By: Mack McCoy http://seattlehousingbuzz.com/2008/03/the-redfin-advantage#comment-100765 Mack McCoy Fri, 28 Mar 2008 08:20:03 +0000 http://seattlehousingbuzz.com/2008/03/the-redfin-advantage#comment-100765 I think it's worth noting that your buyers may have been better off with you even if the "savings" weren't statistically apparent. Residential real estate is not just about the numbers. If a commercial broker wanted to boast about getting higher cap rates or resale premiums for their client, that would be of some significance - after all, the purpose of buying investment property is to make a profit. I think it’s worth noting that your buyers may have been better off with you even if the “savings” weren’t statistically apparent.

Residential real estate is not just about the numbers. If a commercial broker wanted to boast about getting higher cap rates or resale premiums for their client, that would be of some significance - after all, the purpose of buying investment property is to make a profit.

]]> By: Maureen Francis http://seattlehousingbuzz.com/2008/03/the-redfin-advantage#comment-100634 Maureen Francis Thu, 27 Mar 2008 23:21:26 +0000 http://seattlehousingbuzz.com/2008/03/the-redfin-advantage#comment-100634 That came through on Twitter titled "The Ben Advantage." I liked that title and that Ben advantage is a big one. That came through on Twitter titled “The Ben Advantage.” I liked that title and that Ben advantage is a big one.

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