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May 14, 2007

Redfin: "Pandemonium" after "60 Minutes" airing

Posted by Kim Peterson at 10:01 AM

Seattle online real estate company Redfin said its Web site was swamped Sunday night after it was featured in a "60 Minutes" segment.

"Pandemonium here at Redfin," said the company's blog. The site became very slow after the show aired on the East Coast, the blog said, and the company scrambled to keep every server up and running.

The segment, which pretty much amounted to an ad for Redfin, talked about how the company's business model could disrupt the traditional 6 percent commission that real estate agents take in transactions.

Clips from the segment are here. You can read a summary of it here and see lots of posted comments from real estate agents who are not happy with what they saw. ("I think Leslie Stahl really blew this story, it was a cheap shot at Realtors.")

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