Open House - $50,000 fine for Redfin
Washington Multiple Listing Service has fined Redfin $50,000 for a little "breach of agreement." Let's be honest, this is the "system" trying to hold the new, yet threatening, more innovative online guy down.
I blogged about Redfin on May 14. You'll remember that they are a http://www.zillow.com/ site that shows real estate listings and then allows you to make an offer, etc. via online connection to a real agent. Additionally, you can sell a place with them as well (for $3000) they list you in MLS and provide marketing materials, prepare paperwork, etc. Fantastic model that is the future of real estate.
Update: Redfin Blogs a response here.
