Hat tip to MDS for posting that Redfin has already shut down the agents’ scouting reports. Check their blog; the comments from competing agents were running hot:
Scouting Report Data No Longer Available
Dear Customers,
Redfin is suspending access to Scouting Report, the online tool that publishes deal histories and performance metrics for agents across the United States. We will continue to show this information for our own agents.
Our primary reason for excluding other agents is that the data we exposed has too many inaccuracies, mostly because agents work informally in teams, or don’t formally record who represented a buyer in a deal. You can read more about the decision on our blog.
We apologize to consumers and agents alike for discontinuing the service, and hope to restore it in the coming months.
No good deed goes unpunished. Hope they can get it worked out. My question for the complainers who are kicking Redfin when they should be getting their data fixed is: What have you done lately to help improve transparency in the real estate game?
That is some wickedsweet crowdsourcing.
Seriously, these guys get the new information age. They are already the go-to short-turn information source for properties for many areas.
This information proved very valuable in a recent short-sale negotiation that I was part of. Knowing if an agent is closing short sales is of critical importance in determining their ability to do a repeat performance.
Of course, a well informed agent trumps this, but who can you call on a moment’s notice whenever your curiosity is piqued?
Chuck Ponzi
who can you call on a moment’s notice
Jim the Realtor!
Thanks for the softball Chuck!
Hat tip to JH for sending this article along, which could be the end of Zip – they have already been losing millions:
Emeryville-based ZipRealty allegedly violated state law over a four-year period by paying its real estate agents “less than” minimum wage and “no premium” for overtime hours worked, according to the California Department of Industrial Relations.
The suit was filed in Alameda County Superior Court. It seeks more than $7.5 million of minimum wages, $1.25 million of overtime pay, and more than $9 million in damages and penalties.
The Department of Industrial Relations announced the lawsuit but did not say where the agents were based.
Sally Aldridge, chief marketing officer at ZipRealty, did not immediately return a call seeking comment.
The lawsuit follows a Sept. 1 decision by Kern County Superior Court Judge Stephen Schuett in a similar case, according to the department.
ZipRealty had argued it didn’t have to pay its agents minimum wage or overtime because they were exempt “outside salespersons,” the agency said. Judge Schuett, however, concluded the agents worked less than 50 percent of the time away from their offices and, therefore, were not exempt.
The court also awarded “substantial damages” for overtime violations, pay stub violations and interest, according to the department.
ZipRealty says it has wholly owned operations in 23 major markets with 2,100 sales agents, all of whom are independent contractors. Until last year, its agents were typically company employees.
It also offers home listings data and other real estate-related information and tools.
So what’s the new rule? Keep the agents out of the office? Minimum wage for deadbeat agents sitting around the office updating their facebook status.
Most modern-day realtors look at the Internet like the Luddites (http://en.wikipedia.org/wiki/Luddite) looked at mechanized looms.
They have no idea that they have no hope of winning this war long-term.
Hey Jim,
Love your blogs….I read your posts about REDFIN. A friend sent me this job post on craigslist hiring “listing agents” for REDFIN. What are your thoughts?
http://sandiego.craigslist.org/csd/rej/2942791870.html
I look forward to your color on this.