Redfin’s announcement that they will be providing “scouting report” statistics on Real Estate agents in 14 national markets is making waves in the real estate industry. They are providing agent statistics in a convenient package on their site showing everything from currently active listings to number of dual agency transactions, all of which a pretty good kindling to ignite issues with the REALTOR community.
This new step in rating other REALTORS (including those not working for them) is sure to put more information in the hands of consumers,(which consumer and tech folks like), is pretty sure to grate on REALTORS nerves, and is equally sure to end in a lawsuit if data is found to be inaccurate.
The real estate blogging community is starting to chime in with a detailed write up by Jay Thompson, and 1000 Watt Consulting,among others.
What we’d like to get is YOUR opinion. Take the Real Estate Industry Watch Poll and tell us how you feel! Reactions to this run the gamut and we’d like your input.
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I feel like this information would be helpful for both the buyers and sellers, as well as the successful real estate agents in the business that give great service. My only concern would be that redfin would get their information wrong and good agents would be put out. New agents would have a harder time breaking into the business, but they could always start working for more successful agents and there will still be plenty of buyers and sellers that don’t do their homework.
I think that it is a good idea for the consumers to know the experience of the agent that they are working with. However I do agree that it could potentially be difficult for agents getting into the business. Also would this information not be difficult to verify this information unless Refin has access to the MLS board and even if they did, what if agents are in multiple boards and it only shows 1/2 of their listings and sales.