🚀 go-pugleaf

Geoff Gass <glg@tanzenmb.com> wrote:
>Mark Anderson <mea@nospambradnylion.com> wrote:
>>glg@tanzenmb.com says...

>>>wtf?  I don't exactly agree with their "refund" moniker, but they're not
>>>running a scam.  They're just a very low service realtor.  For a seller,
>>>that means only paying commission to the buyer's agent.  For a buyer,
>>>that means they rebate (or "refund" in their ads) part of the buyer's
>>>agent share to the buyer.

>>Personally, I wouldn't do business with them if I had a choice.  Giving 
>>the appearance that you can get cash back on a closing is a deceptive 
>>sales practice.  I steer clear of anyone who tries to deceive me.  
>>They're only refunding your own damned money.  They make it seem like 
>>you won't have to fork over dough at closing because instead, you'll get 
>>cash back -- a closing cost refund.  Maybe back a few years ago that may 
>>have been the case but I would think sizable down payments are required 
>>nowadays.

>you own a house, don't you?  Have you completely forgotten how this works?
>They're not refunding your own money, they're giving you part of the money
>that would go your realtor if you had a "normal" one.

>You can't go to the seller and say "hey, I'll pay 1% less, you give 1% less
>to the realtors", because the seller already has a contract with their realtor
>setting the %.  That gets split between the buyer and seller's realtors at
>closing.  redfin as the buyer's realtor sends some of that back to the
>buyer.

>what you're too stupid to see is that it isn't the buyer being screwed here,
>it's the realtor system, as what redfin is doing begins to break down that
>ludicrous system, something I wholeheartedly applaud.

Uh, great, if the seller absolutely positively has the chops to sell his
own property, and doesn't get emotionally invested when he's supposed to
be negotiating with the buyer. Sellers are greedy fucks. It's amazing how
big a premium they expect just because it's their home.