Brokerage aims to redefine real estate norms

Chuck Maxfield is general manager of Redefy Real Estate, which charges a flat fee to people trying to sell homes.

Describe your business.

Redefy Real Estate is a national real estate brokerage that provides a flat-fee, full-service process for people looking to sell their homes.

How does a flat fee benefit clients?

In Las Vegas, the average price of a home is $192,900, which equates to a 3 percent brokers fee of $5,787. Compare that with Redefy’s flat fee of $2,500, and you get an average savings of $3,287 without losing any of the services that are provided by traditional real estate agents.

Redefy is based in Colorado but recently expanded into Southern Nevada. Why Las Vegas?

Las Vegas is poised to meet or exceed the growth enjoyed by this market for 90 percent of the past 30 years. A low cost of living, nice weather year-round and being one of the top destinations in the world to visit all point to an environment that is on the brink of sustainable growth and real estate-related activity. It also is Redefy’s goal to operate in every major metropolitan area that has a population greater than 1 million.

What is the hardest part about doing business in Las Vegas?

Educating home sellers that they have a choice. Things have been done a certain way for so long that most people don’t realize they have options when it comes to selling a home. There is a lot of disruption in the real estate world, and Redefy is our version of what the future of selling homes is going to look like.

What is the best part about doing business in Las Vegas?

The huge demand for our business model and the cultural fit. Las Vegas is all about fun. The people you meet in Las Vegas are from all over the world; their perspectives, experiences and lifestyles ensure that we never have a dull moment. The same could be said about the culture at Redefy.

Why do you think this concept will be successful here?

People want to be treated like a VIP, and they demand and deserve quality representation for a fair price.

We pride ourselves on quality of service, and are able to do it much more efficiently than some of our competition.

What are the biggest impediments to getting a home sold today?

Getting the right price for your home is probably the biggest barrier. Price is determined by several factors: market demand, the price of other recently sold homes in the area and, to a lesser extent, the location and the condition of the property. In “hot” markets, it is not uncommon for home sellers to have unrealistic price expectations based on conditions they may have heard about but that may not be specific to their property.

How can Nevada improve its business climate?

While tourism, gaming, mining and ranching are the state’s largest industries, we should continue looking to diversify and bring in industries that focus on technology and innovation to build a stronger economy.