Boston condos for sale

Boston condos

Did you know that Redfin has lost money every year since its roll out? How much longer can they lose money? To be honest I don’t know the answer. But one thing is clear, the recent announcement of “1% listing Fee” is truly a sign of the company is sinking. The reality is that Redfin was losing money in its old model, now they think by reducing its commissions more is going to help? This will affect their bottom line even more. Last year Redfin lost money, $15,000,000 on revenue of $370,000,000. If the Redfin model was working, and their customers were happy with the service, they would not need or want reduce their fees, would they? To me it is sending out a loud and clear message that Redfin is a sinking ship. Re-arranging the chairs on this Titanic is not going to save them.

Redfin has a market share of less than 1% (.71%) I believe that one of the reasons that the Redfin model does not work is the quality of their agents. It is interesting to me how they pound their chest on how they can save their client’s money on commissions but they never mention the values lost because of the agents lack of experience in negotiating. Most Redfin agents are not what I would call solid and knowledgeable agents. In fact, it is very much the opposite. why would an experience agent want to work for Redfin with such low commissions? I guess you get what you pay for.

Redfin came our recently with a new marketing campaign in certain parts of the country with “1% listing Fee” is deceptive just like much of their previous marketing. You will not be able to sell your condo for 1% on MLS. Redfin still needs to pay the buyer’s agent between 2%- 2.5%. So a more accurate and honest ad campaign would be a *3.5% Listing Fee” but that does not look as great to potential sellers as the 1% does.

Most savvy home sellers would prefer to pay a slightly higher fee for a quality agent that will spend more money to market their home then what Redfin will spend. They will also pay more for an agent that has experience in how to market the your condo, experience in negotiating and experience in getting things closed smoothly.

Saving money on commission, but losing on sale value isn’t going to help your bottom line. In the end its about net proceeds.

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Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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