At it’s core, the plan calls from greater transparency through all stages of a real estate transaction. From Redfin’s Real Estate Consumer’s Bill of Rights, here are the ten points:
1. Choose the services you pay for
2. Know how your agent makes his money
3. Know when you are committed to an agent
4. Know what services your agent will provide
5. Have an agent that represents only your interests
6. Know the commission refund you can get before you buy a house
7. See all the houses for sale
8. Have an open discussion about a house for sale
9. See all the information available about a house for sale
10. Be sure your agent will show your house to everyone
If you want to sign the petition, go here.
This is a very savvy PR move by the folks at Redfin – it’s bound to get people talking and it’s clearly a way for the company to continue to define themselves as mavericks in the industry (see Redfin Agents More Effective?). I suspect it’s also meant to drive a wedge between the old-guard players. Those that don’t/won’t line up beside Redfin will be labeled “anti-consumer”.
But, I’m with Kevin at 3 Oceans on this one, regardless of motivation – I think it’s high time someone stick up for the little guy here. While you can argue about some of the technicalities on the list (and I suspect many will) – the overall notion is a sound, which is why I’ve added my name to the list.