Discount real estate brokerages are now part of the real estate landscape. I think a well-run brokerage with experienced agents, which can offer its clients all the services necessary, especially in a market such as we are currently in, and do so at a discount to the client is great for the consumer. It serves to keep commissions and Realtor services competitive. That’s the theory. Let’s talk reality.

I recently oversaw a transaction in my office in which we represented the sellers and Redfin, a discount brokerage, represented the buyer. I have to tell you that as a broker I was stunned at the lack of service, counseling and support the Redfin agent provided his/her “client”. What a disgrace. As a Realtor/broker who takes pride in the service I and my agents provide our clients, I was appalled at Redfin’s lack of involvement and motivation. The agent did not accompany his client to the home inspections. He did not counsel the buyer through the transaction. He was woefully lacking in communication with the client and with the listing agent. The buyer, working without the support and guidance needed, got “buyers remorse” and cancelled the deal. Did I mention she has done this a number of times in the past with ‘guess who as agent’? That’s right, Redfin.

There’s an old saying - “you get what you pay for”. Ain’t it the truth. It seems incredible to me that a person who is willing to pay hundreds of thousands, even millions of dollars for a home will cut corners when it comes to hiring the professional who can guide them through the complexities of home buying (or selling), who can council them with their years of real estate experience and who can ultimately save them much more money with their negotiating skills than they will ever save by “shaving the commission” and using an unmotivated, salaried real estate agent .

There’s another old saying that aptly applies, “buyer beware”.