Out of sheer curiosity, how many #Realtors out there collude with Redfin right now?
According to Google Search, for a simple query site:Redfin.com + “partner agent” + “agent license” turns about 11,600 results. For the pure numbers comparison, Redfin has about 3,300 total employees, where +/-1,500 are Redfin Agents.
To be clear, (!!!) 11,600 (!!!) competing #Realtors from random affiliated brokerages such as Berkshire Hathaway HomeServices, eXp Realty, Windermere Real Estate, Keller Williams Realty, Inc., RE/MAX, Coldwell Banker, NextHome, Inc., HomeSmart, Compass, John L. Scott Real Estate, CENTURY 21®, Realty ONE Group, Vylla, ERA Real Estate, Weichert, Realtors, Better Homes and Gardens Real Estate, Fathom Realty, Intero Real Estate Services, John R. Wood Properties, Worth Clark Realty, etc. are in an open collusion with Redfin, while Redfin merely employs 1,500 agents.
Over 40% of all annual transactions originated by Redfin are a product of collusion, where it simply collects a 30% kickback from a home sale or a purchase.
What transparency is Glenn Kelman talking about?
15 U.S.C. §1 — Trusts, etc., in restraint of trade illegal;
12 U.S.C. §2607 — Prohibition against kickbacks and unearned fees;
12 C.F.R. §1024.14 — Prohibition against kickbacks and unearned fees;
15 U.S.C. §45 — Unfair methods of competition unlawful;
Is there a licensed national brokerage out there that violates more laws, while claiming to offer savings. Sadly, yes. There are about a dozen “shell” brokers that work to price-fix services for “partner agents” in their “network”
I am running out of space here…
This form of open collusion is the ONE thing the National Association of REALTORS® should consider at their annual 2021 conference, if it truly wants to salvage any form of trust with consumers.
#narannual2021 #narannual #proptech #transparency #antitrust #kickbacks #respa #shermanact #ftcact #realestate