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60 Billion Dollars?

The NAR said no one would watch because it was Mother's Day. Because it's just not about TV anymore, you can sit at your computer and watch Leslie Stahl's entire piece about online brokerage Redfin versus traditional real estate brokers for their share of the $60 billion real estate pie. As of this morning, the most emailed link on CBS's website. Stahl misses one important distinction in labeling Redfin a discount brokerage- they're an online business, not a discount business. She interviews a "full service" broker who points out that the cost of stamps has gone up, touches on the DOJ lawsuit, and talks to another online broker who's business in Texas went belly-up after the local MLS shut him out. Not surprisingly, Redfin's servers seem a bit slow today. Redfin may not be for everyone yet, but Glenn Kelman seems to be willing to take it one transaction at a time.
· Hi-Tech Real Estate Moves In [Leslie Stahl/CBS 60Minutes]
· Redfin [Redfin]
· Unleash The Hounds [Redfin Corporate Blog]