Job at at a biglaw firm vs Forum

[Adrian Monk]

and someone asking me if im mental? nope, just passionate about working for a start up that puts the consumer's interests first in a screwed up industry. An industry that just sees agents as selling and buying homes, and not as someone helping people during the biggest investment of their lives. Redfin is being innovative and i like that, as I truly see them making a difference.

[Adrian Monk]

Great, you've already drunk the koolaid so do it. Law school will still be there if you hate it. But lol just lol at comparing realtor ethics to lawyer's when realtors get paid more to represent parties with adverse interests in the same transaction

what do mean? not sure u get how it works. even i had no idea how it all worked in real estate until i stumbled upon the job. So, this is how it works. There is a buyer and a seller. the buyer wants to buy a house. the seller wants to sell a house. There is a buyers agent, and there is a seller agent. Redfin (or any brokerage) can only be on one side of the transaction, a buyer or a seller's side. So the buyers agent will work hard to satisfy the buyer intersts and get the perfect house and negotiate a good price (usually below listing price). And the sellers agent will work hard to satisfy the seller. so i think that u think that an agent represents both parties? nope, thats not how it works. there's a buyers agent and a selllers agent.

[sundance95]

You're wrong.

[Adrian Monk]

Great, you've already drunk the koolaid so do it. Law school will still be there if you hate it. But lol just lol at comparing realtor ethics to lawyer's when realtors get paid more to represent parties with adverse interests in the same transaction

haha dude, no i have not drank the kool aid, i have never even worked for them!. have u looked into their buisness model? the bonus is not tied to the dollar sales at all, doesnt matter if the sale is 200,000 or 8000,000. its tied to "customer satisfaction". so after a transaction is closed, every client is sent a review form, and their review is posted on the site!. Every review is posted, good or bad. there is total transparency. so a five star review is given like a full bonus, its 1000 or 1050 dollars i think. So, yeah again no incentive fo the agent to drive up the price, as long as he goes the extra mile to satisfy the client, and of the client gives a good review at the end of it,the redfin agent gets a bonus. and remember, its the client's best interest that he gest the best deal when buying or selling a house right, only then he will be happy, so why would the redfin agent try to drive up the price and get a bad review at the end and lose his bonus? get it now? i really mean it when i say that redfin puts the clients intersts first, soemthing that real estate brokerages never used to do, thus the negavtive reputation.

[Adrian Monk]

sundance, i quoted again, because u might miss that, i wrote about the redfin buisness model so u can see that the bonus is not tied to the sales at all, its tied to "customer satisfaction"

[patogordo]

weirdest redfin astroturfing ever

[Adrian Monk]

weirdest redfin astroturfing ever

lol what started of as what would be better career wise soon resulted in me defending redfin. Sundance was incorrect about redfin's buisness model (he said that the bonuses for employees are tied to sales, i proved that not true). anyway, i care because redfin's vision really is a breadth of a fresh air in a fucked up industry.

[pancakes3]

You should apply to other jobs.

[Adrian Monk]

You should apply to other jobs.

why?

[jchiles]

I have no idea what Redfin actually will pay you starting out salary-wise but I highly doubt it will be 40-55k like you say. I worked in a commercial real estate brokerage before LS and all of the brokers were paid entirely on commission, which obviously carries a lot of uncertainty with it. They would freely admit that in a good year total commissions could be in the mid-to-high 6 figures but in a bad year you might not sell or lease any new buildings at all. And ultimately its a sales job, which requires a certain skill set (probably even more so for residential) if you ever want to make money doing it.

I really don't see how the position you're describing is comparable to big law, that's not to say it sounds like an awful job or anything but selling residential property, even for an exciting startup, requires a lot of legwork, self-promotion, and the right personality and it takes years, if ever, to start handling high value homes where your commissions will start approaching big law salary ranges. Obviously its market dependent but in most places the same few people or brokerage firms handle a major portion of the most desirable residential real estate.

[Adrian Monk]

I have no idea what Redfin actually will pay you starting out salary-wise but I highly doubt it will be 40-55k like you say. I worked in a commercial real estate brokerage before LS and all of the brokers were paid entirely on commission, which obviously carries a lot of uncertainty with it. They would freely admit that in a good year total commissions could be in the mid-to-high 6 figures but in a bad year you might not sell or lease any new buildings at all. And ultimately its a sales job, which requires a certain skill set (probably even more so for residential) if you ever want to make money doing it.

I really don't see how the position you're describing is comparable to big law, that's not to say it sounds like an awful job or anything but selling residential property, even for an exciting startup, requires a lot of legwork, self-promotion, and the right personality and it takes years, if ever, to start handling high value homes where your commissions will start approaching big law salary ranges. Obviously its market dependent but in most places the same few people or brokerage firms handle a major portion of the most desirable residential real estate.

Hey Jchiles, thanks, and yeah I apologize for comparing it to big law, its wrong on so many levels, on salary and others. But one thing, one of the ways Redfin is not a traditional brokerage is that they have eliminated the "commission only model", in my opinion thats thr worst and nobody should work for just comissions, it brings out the worst in people (like for example, driving up the price to get extra commission), what redfin does is that there agents are salaried, get benefits like health insurance, as they are employees and not contractors. on top of that salary, they get bonuses. So, yeah at entry level, you are looking at like 40 k base salary and with bonuses somewhere around 50k to 60k and top performers can look at six figs but thats way down the line. Since, i will starting out for me most likely its somwhere from 40-60. So, its comparable to small law gig or ada ? So, yeah since redfin agents are not depended on only comissions, i think the stable paycheck kinda attracts me as I have been poor for a long time, and cannot afford to have months where i can go without a paycheck.

[kalvano]

This is the weirdest Redfin advertising ever.

[Adrian Monk]

This is the weirdest Redfin advertising ever.

lol my support for redfin is def over the top haha, but ultimately it all comes down to take this job offer or go to law school. i really get it now that its only upto me to answer that. i will be doing a lot of self reflecting in the coming months.

[Winston1984]

This is the weirdest Redfin advertising ever.

[pancakes3]

This is the weirdest Redfin advertising ever.

lol my support for redfin is def over the top haha, but ultimately it all comes down to take this job offer or go to law school. i really get it now that its only upto me to answer that. i will be doing a lot of self reflecting in the coming months.

You should apply to other jobs.

why?