Hear how RedFins CEO and CTO want to shake up real estate world | ScobleShow: Videoblog about geeks, technology, and developers
RedFin lets people buy and sell real estate online without paying real estate agent commission fees or, at minimum, greatly reduced fees. But thats not the only way that they are shaking up real estate markets. They are trying to change how the industry is compensated, which will, Kelman says, increase customer satisfaction with the process. Agents are compensated by how they rate in customer satisfaction surveys as opposed to the traditional commission model which has fueled real estate transactions to date. The founder has noted that the commission model has not always served buyers or sellers well.
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