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Redfin not taking listings

perplexdperplexd
edited June 2007 in Seattle Real Estate
Got an email from Redfin a few minutes ago about not taking listings.

http://blog.redfin.com/2007/06/a_crazy_decision.html
Dave, Mike and I decided to do this after a conference call last night about California, where several of our agents have been working for weeks without a day off. Some of the increase in demand is simply seasonal, some of it is the result of being on 60 Minutes, some of it seems like a freak of nature.

No mention of whether the sheer rise in inventories is overwhelming them (unless 'freak of nature' is a bubble euphemism that I'm not yet familiar with). I'm not aware if they are turning away buyers, but something tells me they won't have the same overwhelming volume problems with buyers anytime soon ....

Thoughts?

Comments

  • JazenJazen
    Really? A rise in inventory that is unbearable to handle would be just peachy, but, do you think that is true? Or is it regulatory in nature? Let's hope not as Redfin does a lot of the common people a lot of good.
    Kinda like Barrack Obama.
  • plymsterplymster
    This is just plain smart. Maintaining quality and keeping slow, steady growth without exploding on the scene is the sign of mature leadership. Overgrowth has been the number one cause of every company meltdown I've seen in the past 20 years.

    Turning away customers is never good, but it beats having to hire and train new staff (meanwhile customer service suffers) during massive demand cycles, and then having to cut everyone loose during weak cycles. Plus the infrastructure costs explode once you get to a certain size and try to maintain your customer service and corporate culture.

    Kudos to Redfin!
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