Anyone used their service? Is it worth any drawbacks for the commission savings? I've heard agents can be stretched thin under their business model and not devote enough time to properly market each property.
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Redfin 4.5% commission
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Last: 6 yr ago by valtosca
We used them to sell our old and buy our new house. Was a great experience.
We knew where we wanted to move to and we're familiar with the area, so we didn't need a realtor's "expertise" on neighborhoods, schools, etc. We really just needed someone to open up doors for us. And for that, they were GREAT. They have a team that works areas so you can go pretty much at any day or time since they have back-ups. My wife would see something on HAR or Redfin, text someone, and an hour later, she'd be there. Our other experiences with ReMax weren't as convenient.
They also had similar advice to what you probably already know on how to stage your house to sell it, and what to look for when buying one.
I've always felt the real estate agents rates were too high. Especially in our case when we are already know what we want and are plugged into the area. No if we were moving out of state, I would want to make sure my agent (Redfin or other) lived and/or knew the area first hand.
We knew where we wanted to move to and we're familiar with the area, so we didn't need a realtor's "expertise" on neighborhoods, schools, etc. We really just needed someone to open up doors for us. And for that, they were GREAT. They have a team that works areas so you can go pretty much at any day or time since they have back-ups. My wife would see something on HAR or Redfin, text someone, and an hour later, she'd be there. Our other experiences with ReMax weren't as convenient.
They also had similar advice to what you probably already know on how to stage your house to sell it, and what to look for when buying one.
I've always felt the real estate agents rates were too high. Especially in our case when we are already know what we want and are plugged into the area. No if we were moving out of state, I would want to make sure my agent (Redfin or other) lived and/or knew the area first hand.
There's lots of flat fee listing brokerages out there (flat fee on the listing side, 3% recommended to the buyer's agent). Often times, the flat fee might be less than 1.5% (Redfin is 1.5% on the listing side, I assume, and 3% to the buyer's agent). We do a $1995 flat fee on the listing side. That saves a seller money starting at a list price of around $135k when compared to Redfin's 1.5%. And it saves a seller money starting at a list price of around $67k when compared to the traditional 6% (3% per side) listing. Not sure what market you're in but I'd 'Google' flat fee real estate companies and do some comparing.
jmazz - I'm curious what is included in your flat fee pricing? Is it just the MLS listing, or do you provide other services? Photography, staging, pricing analysis, take calls, other?
We don't offer to pay for/cover professional photos or professional staging. (We can help arrange those if seller so chooses...not really needed in today's market though.) We don't sit in open houses. We don't run around town stuffing flyer boxes at our listings. We do everything else...CMA, take our own photos, offer our own staging/make ready advice, sign/lock box, request feedback from showings, contract negotiation, attend closings, etc. We consider ourselves full service with the exception of a few things...which a 6% Realtor may or may not do anyway.
Where are you located?
B/CS
Used Redfin to sell our house last summer. Easiest process ever. Very convenient. Fast service as well. Would highly recommend as well.
There's some company out there offering to list for $7/day. It will soon be free!
How accurate were the Redfin estimates with what you actually sold your house for (hopefully in Texas)?
My son used Redfin to sell a $350k plus home in San Antonio last year and was pleased with their service. They are streamlined and has all aspects of the selling process down with a system in place to cover CMA, marketing, professional photos, and ultimately the negotiations.
I know full commission realtors are not going to be happy about this, however home buying is changing! Why pay 6% for less work than was required years ago. Today, most younger buyers are TELLING their realtors which homes they want to look at. Before, realtors were the only one with access to the MLS, now days you can see the home without even being there. No more driving around looking a numerous homes and not being able to keep each one in perspective. The internet has made it significantly easier to buy/sell and to be better informed than in the past where you relied on the a realtor to give you all the information about the home, neighborhood, schools, crime, etc.
With the proliferation of realtors, with very little barrier to become a realtor, in many cases the buyer or seller is more informed than a part time realtor. I think the use of a realtor is essential for most people but the cost of using a realtor is coming down.
I know full commission realtors are not going to be happy about this, however home buying is changing! Why pay 6% for less work than was required years ago. Today, most younger buyers are TELLING their realtors which homes they want to look at. Before, realtors were the only one with access to the MLS, now days you can see the home without even being there. No more driving around looking a numerous homes and not being able to keep each one in perspective. The internet has made it significantly easier to buy/sell and to be better informed than in the past where you relied on the a realtor to give you all the information about the home, neighborhood, schools, crime, etc.
With the proliferation of realtors, with very little barrier to become a realtor, in many cases the buyer or seller is more informed than a part time realtor. I think the use of a realtor is essential for most people but the cost of using a realtor is coming down.
scrap said:
My son used Redfin to sell a $350k plus home in San Antonio last year and was pleased with their service. They are streamlined and has all aspects of the selling process down with a system in place to cover CMA, marketing, professional photos, and ultimately the negotiations.
I know full commission realtors are not going to be happy about this, however home buying is changing! Why pay 6% for less work than was required years ago. Today, most younger buyers are TELLING their realtors which homes they want to look at. Before, realtors were the only one with access to the MLS, now days you can see the home without even being there. No more driving around looking a numerous homes and not being able to keep each one in perspective. The internet has made it significantly easier to buy/sell and to be better informed than in the past where you relied on the a realtor to give you all the information about the home, neighborhood, schools, crime, etc.
With the proliferation of realtors, with very little barrier to become a realtor, in many cases the buyer or seller is more informed than a part time realtor. I think the use of a realtor is essential for most people but the cost of using a realtor is coming down.
Agree! Realtors are great, but the process has changed. Shopping has changed (malls/retail stores are struggling having to compete with online sales). Realtors are dealing with smarter buyers, and this can help them meet their clients wants/needs more efficiently. Everything changes with time.
Then you're not really full service, are you?jmazz said:
We don't offer to pay for/cover professional photos or professional staging. (We can help arrange those if seller so chooses...not really needed in today's market though.) We don't sit in open houses. We don't run around town stuffing flyer boxes at our listings. We do everything else...CMA, take our own photos, offer our own staging/make ready advice, sign/lock box, request feedback from showings, contract negotiation, attend closings, etc. We consider ourselves full service with the exception of a few things...which a 6% Realtor may or may not do anyway.
We more than meet the requirements TREC sets forth for a Broker. In my opinion, that's full service. The little 'add-on' stuff doesn't define full service. (Just my opinion.) As I noted, there are agents whose 6% fee may or may not get you professional photos or an open house. If someone feels professional photos and an open house are a must...we aren't the brokerage for them. If someone defines full service as the inclusion of professional photos and an open house, then by that definition we miss the mark.
Where are you located?