For those that have been following the saga of the Redfin “Scouting Report” for the past several days, you should read the latest post on the Redfin blog, Requiem for a Dream.
Redfin pulled the plug.
You can read the post for all the reasons why.
As I said here in my two previous posts on the subject, I don’t have a problem with displaying agent sales data. But that data has to be accurate.
And it wasn’t.
That’s not all (or even mostly) Redfin’s fault. Any given MLS is a database where data entry is conducted by real estate agents. And it’s rife with errors. Yes, that is a telling message, and sooner or later, something needs to be done to improve data integrity in the MLS. Preferably sooner.
In many ways I applaud Redfin for trying. Sure, they should have (in my humble opinion) more carefully vetted their systems and reporting. Yes, it had issues. An no, I don’t think a “competing” real estate brokerage is the right place to display sales data on all agents. That belongs with a “neutral third party” such as an Association, or MLS.
I’m sure some agents are dancing in the aisles right now.
Don’t dance too long or hard folks. I can guarantee you that this won’t be the last incarnation of a “Scouting Report”. Someone, somewhere, probably pretty damn soon, is going to try again. And they’ll keep trying until they get it right.
It’s only a matter of time.