Housingbuff
New member
1) Can someone help walk me through pros/cons of listing your home with Redfin instead of listing the traditional way with an agent?
Pros/cons of listing w Redfin and other matter
- Thread starter Housingbuff
- Start date
usctrojancpa
Well-known member
I've worked with several Redfin agents over the years, both buyer and listing agents. Most have decent and serviable but I've noticed that they tend to not be as knowledgable about the differences between various Irvine Villages and/or different tracts. For example, on one of my recent listings I found out that the Redfin buyer agent provided their buyer closed comps on attached condos when my listing was a detached condo which resulted in their initial offer being 5% lower than the list price.
Also, if you are uneasy using your neighbor as your agent then you should go with your gut. A good agent is completely impartial to who buys a home and is focused on getting their client the highest price and/or best terms possible.
You should also ask any realtor that you talk to if they can get you an escrow fee discount. I've worked with 2 good escrow companies and have been able to get discounts for my sellers because I keep sending them all my business and because I asked for a discount. As the saying goes...you never get what you don't ask for.
Also, if you are uneasy using your neighbor as your agent then you should go with your gut. A good agent is completely impartial to who buys a home and is focused on getting their client the highest price and/or best terms possible.
You should also ask any realtor that you talk to if they can get you an escrow fee discount. I've worked with 2 good escrow companies and have been able to get discounts for my sellers because I keep sending them all my business and because I asked for a discount. As the saying goes...you never get what you don't ask for.
Irvinecommuter
New member
We had some recent experience with Redfin and I would say it depends on your needs and goals.
From my small experience...Redfin agents are decent but they don't try very hard. If you are selling, they basically do an initial assessment and then leave you to do the rest. No staging or set up assistance...pretty much all DIY. Redfin will do the photos and 3D tours etc.
If you are buying...they are somewhat knowledgeable but they are not going to do much more than inquire about a property, show you the property, and do the paperwork. Very little strategy.
Also dealt with various agents and they range greatly. Some are full-service (and will charge you for it) while others are no frill but low fees with others in between.
I would say that the most important thing is to get someone you like and trust and work with that person. It also depends on what you are selling and how much work it may need. If you are selling a 700-800K condo...you don't need much. They sell themselves these days. But if you are trying to get above $1 million and top dollar, a traditional agent will work. Also, if you have a place that is pretty clean and nice, a Redfin agent may work. If your place needs some staging and fixing up, a traditional agent will be better.
Similarly, on the buy side, if you can do your own research and are diligent, Redin works fine. But if you are looking for specific areas and want someone you can strategize with, go with a traditional agent.
From my small experience...Redfin agents are decent but they don't try very hard. If you are selling, they basically do an initial assessment and then leave you to do the rest. No staging or set up assistance...pretty much all DIY. Redfin will do the photos and 3D tours etc.
If you are buying...they are somewhat knowledgeable but they are not going to do much more than inquire about a property, show you the property, and do the paperwork. Very little strategy.
Also dealt with various agents and they range greatly. Some are full-service (and will charge you for it) while others are no frill but low fees with others in between.
I would say that the most important thing is to get someone you like and trust and work with that person. It also depends on what you are selling and how much work it may need. If you are selling a 700-800K condo...you don't need much. They sell themselves these days. But if you are trying to get above $1 million and top dollar, a traditional agent will work. Also, if you have a place that is pretty clean and nice, a Redfin agent may work. If your place needs some staging and fixing up, a traditional agent will be better.
Similarly, on the buy side, if you can do your own research and are diligent, Redin works fine. But if you are looking for specific areas and want someone you can strategize with, go with a traditional agent.
sgip
Well-known member
I'd strongly urge you to not list with a neighbor, family member, or close personal friend.
Something always takes an unexpected turn during a transaction of this size. It is inevitable, so ask then - "Is it worth jeopardizing my relationship by engaging this person for a business deal?"
Since the answer is "no", just don't do it.
Redfin survives on thin margins on high volume. That's their business model and it works well for them. Do feel a volume focused or a transaction focused salesperson is the best way to handle the intricacies of your home sale? Sometimes, a volume agent might work well, but is rarely the case.
My .02c
Something always takes an unexpected turn during a transaction of this size. It is inevitable, so ask then - "Is it worth jeopardizing my relationship by engaging this person for a business deal?"
Since the answer is "no", just don't do it.
Redfin survives on thin margins on high volume. That's their business model and it works well for them. Do feel a volume focused or a transaction focused salesperson is the best way to handle the intricacies of your home sale? Sometimes, a volume agent might work well, but is rarely the case.
My .02c
irvinehomeowner
Well-known member
Soylent Green Is People said:
This is tough though because sometimes, esp with multiple transactions, you become friends with your realtor.
And you don?t want to jump back into the Match.com realtor pool.
usctrojancpa
Well-known member
Having worked as a realtor with hundreds of other realtors for more than a decade, I can comfortably identify that are are 3 types of realtors out there...
Agent Type #1 - The good agents...these agents are a pleasure to work with, keep the drama to a minimum, can problem-solve when confronted with "speed bumps" along the way, focus on helping their clients and creating a win-win transaction for everyone included, and are just an absolute pleasure to work with. This is the minority of agents out there unfortunately.
Agent Type #2 - The serviceable agents...these for the most part are easy to work with, can handle a simple transaction, may not know the market well but tend to be flexible, don't do well with "speed bumps" that come up in transactions, are not problem solvers and get stressed easily when challenges come up, aren't great communicators (either from a timely basis and/or language basis), and sometimes tend to "exaggeratre" a bit too much at time. This is the vast majority of agents out there.
Agent Type #3 - The "I want to put my head working with the person" agents...these are the agents that lie/over exaggerate, don't communicate well at all (either don't reply to you and your offers/vms/emails) or have to constantly follow up with them, very evident that they put money first in front of their clients, don't know the market but act as if they are an expert, think that they are above giving rebates or lower listing commissions because they say they are a "full service" agent and don't want to cheapen themselves, can be very emotional and create unnecessary drama, and overcomplicate things. There are more of these agents than type #1 agents unfortunately.
Agent Type #1 - The good agents...these agents are a pleasure to work with, keep the drama to a minimum, can problem-solve when confronted with "speed bumps" along the way, focus on helping their clients and creating a win-win transaction for everyone included, and are just an absolute pleasure to work with. This is the minority of agents out there unfortunately.
Agent Type #2 - The serviceable agents...these for the most part are easy to work with, can handle a simple transaction, may not know the market well but tend to be flexible, don't do well with "speed bumps" that come up in transactions, are not problem solvers and get stressed easily when challenges come up, aren't great communicators (either from a timely basis and/or language basis), and sometimes tend to "exaggeratre" a bit too much at time. This is the vast majority of agents out there.
Agent Type #3 - The "I want to put my head working with the person" agents...these are the agents that lie/over exaggerate, don't communicate well at all (either don't reply to you and your offers/vms/emails) or have to constantly follow up with them, very evident that they put money first in front of their clients, don't know the market but act as if they are an expert, think that they are above giving rebates or lower listing commissions because they say they are a "full service" agent and don't want to cheapen themselves, can be very emotional and create unnecessary drama, and overcomplicate things. There are more of these agents than type #1 agents unfortunately.
Anybody have any experience selling an investment property through Redfin concierge service? (condo, not a high end SFR)
For 0.5% fee (on top of their standard 1.5% listing fee), they will oversee all renovation work (short of major gut jobs requiring permits) including using their preferred contractors. A professional coordinator will pick out all finishes, fixtures, paint colors, etc.
It seems worth it possibly for someone who needs to renovate a place quickly for sale, but doesn't have ready contacts in the trades, and little time to solicit estimates, pick finishes, etc.
For 0.5% fee (on top of their standard 1.5% listing fee), they will oversee all renovation work (short of major gut jobs requiring permits) including using their preferred contractors. A professional coordinator will pick out all finishes, fixtures, paint colors, etc.
It seems worth it possibly for someone who needs to renovate a place quickly for sale, but doesn't have ready contacts in the trades, and little time to solicit estimates, pick finishes, etc.