For Sale?

Redfin, the upstart discount real estate brokerage, recently listed the White House for sale on their web site. It's not for sale, even though many of our Politicians appear to be. Redfin listed the White House for $10,000,000. Publicity stunt or innocent mistake? Redfin claimed their sites software erroneously pulled some information about a property the President rented while in college off of Craigslist, and their site mistakenly listed the White House for sale.
Discount real estate brokerage Redfin appeared on the real estate scene a few years back, and was featured on 60 Minutes. At that time the real estate bubble had not burst, and real estate sales were en fuego. Move forward a couple of years, and many discount brokerages are struggling to stay afloat. Redfin's presence in the Bay Area, and in particular in Marin County, is minimal as sellers of homes have begun leaning towards more notable full service real estate companies. When the market shifts to more of a buyer's market, historically in Marin and the Bay Area, the discount real estate brokerages begin to disapear.
Real Estate commissions for the sale of homes are negotiable. In Marin County the word on the street is that Pacific Union, which is a recent marriage of the Morgan Lane and the previous incarnation of Pacific Union, will only be listing homes for 6%. Homes in Marin typically have been listed for anywhere from 5 to 6 percent. Occassionally you'll find a reduced commission on a very expensive property ,or one listed by a discount brokerage. Some say, "you get what you pay for." Let's see what happens...




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