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by w4
3905 days ago
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Of course - you can totally offer discounts. Hence Redfin's existence. The key, however, is that you have to operate within the existing licensing law. You can't just act as a low-cost intermediary. This makes any innovation surprisingly difficult, since you incur substantial costs associated with regulatory compliance. For example, the vast majority of your staff that interfaces with your customers would need real estate licenses in each state you operate in (along with the tens or hundreds of hours of state mandated education to get those licenses). This is in addition to a company brokerage license for each state. EDIT: Just saw your edits, and that you guys are doing exactly this - good luck! The industry needs more innovation. :) |
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