Does anyone receive "refund 66% ~ 75% commission from redfin or BuySide"?

G

greenpot168_IHB

New member
<p>I heard news about these2 on-line realtors refund 66% ~ 75% their commission to buyer.</p>

<p>This deal sounds too good to be true.</p>

<p>Does anyone here in this forum, use them as buyer broker ?</p>

<p>Does anyone actually receive refund from redfin or BuySide Realty ?</p>

<p>Is redfin better or Is BuySide Realty better ?</p>

<p> </p>

<p> </p>

<p></p>

<p><a href="http://www.redfin.com">http://www.redfin.com</a> is an online service. The service consists of an online form for completing a purchase and sale agreement. As part of this service, Redfin refunds two-thirds of its commission to you, the buyer</p>

<p><a href="http://www.buysiderealty.com">http://www.buysiderealty.com</a> , homebuyers receive a check from BuySide Realty for 75% of BuySide’s commission. Or, if you prefer, you can take the rebate as a credit at closing. </p>

<p> </p>

<p> </p>
 
<p>I've used buyside to put in a couple of offers. they are great, however you have to do most of the legwork. their website stinks.</p>

<p>redfin is a lot easier to use.</p>
 
<p>brealiving,</p>

<p>Which one would you recommend as buyer broker ?</p>

<p>Or you have some other deep-discount realtor in mind that you can share with us ?</p>

<p> </p>

<p>Thanks</p>

<p>greenpot168</p>

<p> </p>
 
<p>I think either of these two are good. I will use them to purchase a home. They are more legitimate than other agents trying to do the same. </p>

<p>However, there is a lot of legwork involved in looking at properties.</p>
 
The one time I tried using Zip Realty, I found the agent to be ill informed (e.g., did not know the difference between a foreclosure auction and the REDC auctions at the Anaheim Convention Center). When I tried using Redfin, the agent, after talking to people in the office, thought our offer was too low and wouldn't even take the 20 minutes to write it. While I appreciated that agent's opinion, I had done significant research on the property and its flaws (e.g., unpermitted additions) and felt that I had judged the value pretty accurately given the amount of post closing work that would have been needed.



I do not see myself using a discount broker anytime soon.
 
[quote author="greenpot168" date=1186695955]<p>I heard news about these2 on-line realtors refund 66% ~ 75% their commission to buyer.</p>

<p>This deal sounds too good to be true.</p>

<p>Does anyone here in this forum, use them as buyer broker ?</p>

<p>Does anyone actually receive refund from redfin or BuySide Realty ?</p>

<p>Is redfin better or Is BuySide Realty better ?</p>

<p> </p>

<p> </p>

<p></p>

<p><a href="http://www.redfin.com">http://www.redfin.com</a> is an online service. The service consists of an online form for completing a purchase and sale agreement. As part of this service, Redfin refunds two-thirds of its commission to you, the buyer</p>

<p><a href="http://www.buysiderealty.com">http://www.buysiderealty.com</a> , homebuyers receive a check from BuySide Realty for 75% of BuySide’s commission. Or, if you prefer, you can take the rebate as a credit at closing. </p>

<p> </p>

<p> </p></blockquote>
I would never go with one of those services because you essentially end up doing 90% of the work yourself. Check your PM.
 
[quote author="usctrojanman29" date=1218006176]I would never go with one of those services because you essentially end up doing 90% of the work yourself.</blockquote>


Funny thing is, I don't have a problem with doing 90% of the work myself. <em>Control freak alert!</em>



What I do want when I am the principal and have hired someone to be my agent is that the agent will perform the work hired to do. (Funny, that.) I also want another set of educated and experienced eyes on the transaction.
 
<em>"I would never go with one of those services because you essentially end up doing 90% of the work yourself. <strong> Check your PM</strong>". </em>



Here he goes, fishing for another one.



It will be a couple of years out before I consider buying, but Redfin should be much stronger by then. I'll give them a try for sure.
 
[quote author="Trooper" date=1218012182]<em>"I would never go with one of those services because you essentially end up doing 90% of the work yourself. <strong> Check your PM</strong>". </em>



Here he goes, fishing for another one.</blockquote>


Sure looks that way to me, too. :p
 
I've used buyside to make a few offers. The process isn't too bad and I like how they post all the documents electronically. If you don't need a lot of hand-holding, and you know what you want, then Buyside is a good option.
 
[quote author="Trooper" date=1218012182]<em>"I would never go with one of those services because you essentially end up doing 90% of the work yourself. <strong> Check your PM</strong>". </em>



Here he goes, fishing for another one.



It will be a couple of years out before I consider buying, but Redfin should be much stronger by then. I'll give them a try for sure.</blockquote>
Yup, there I go again. I'm actually working with 2 IHB members, but unlike most realtards I'm telling them to wait until the property and deal that they want come to them. Don't hate, I'm here to help people if they want my help and yes I have references. ;)
 
[quote author="EvaLSeraphim" date=1218011013][quote author="usctrojanman29" date=1218006176]I would never go with one of those services because you essentially end up doing 90% of the work yourself.</blockquote>


Funny thing is, I don't have a problem with doing 90% of the work myself. <em>Control freak alert!</em>



What I do want when I am the principal and have hired someone to be my agent is that the agent will perform the work hired to do. (Funny, that.) I also want another set of educated and experienced eyes on the transaction.</blockquote>
I hear ya, whether I was a realtor or not I'd still want to represent myself because I know I can do it better than some real estate jockey trying to push me into a transaction to make commission.
 
[quote author="usctrojanman29" date=1218025599]I hear ya, whether I was a realtor or not I'd still want to represent myself because I know I can do it better than some real estate jockey trying to push me into a transaction to make commission.</blockquote>


Awgee, do you have a <a href="http://en.wikipedia.org/wiki/Sockpuppet_(Internet)">sock puppet</a>?



And if I read that correctly, does that mean that every Realtor other than you is "some real estate jockey trying to push [the client] into a transaction to make commission"?
 
Man... I miss NIR. I hope she is weathering this storm, or at least taking advantage of the down time on some island.
 
[quote author="EvaLSeraphim" date=1218028365][quote author="usctrojanman29" date=1218025599]I hear ya, whether I was a realtor or not I'd still want to represent myself because I know I can do it better than some real estate jockey trying to push me into a transaction to make commission.</blockquote>


Awgee, do you have a <a href="http://en.wikipedia.org/wiki/Sockpuppet_(Internet)">sock puppet</a>?



And if I read that correctly, does that mean that every Realtor other than you is "some real estate jockey trying to push [the client] into a transaction to make commission"?</blockquote>
Nope, that's why I said "some" which means the majority. There are great agents out there and probably many even more knowledgable and skilled than me, but now that times have gotten tough most seem to be a little more pushy (this heard from people who are looking to purchase nowadays) with buyers. If I'm giving up a big chunck of any commission that I may earn, then that would make me less incentivized to push buyers into properties than a realtor who will collect a full commission, correct?



But the thing that bothers me most about realtors (in general), is that any Joe 6pack can get their real estate license without a degree or any kind of significant training/education. One good thing about the down market, it will weed out the weak links and the good agents will continue to be successful.
 
usc,



Don't I remember you saying that you only do R.E. on the side ? That you do one or two transactions a year ? If so, that hardly makes you an authority.....



But I could be confusing you with someone else.
 
[quote author="Trooper" date=1218042149]usc,



Don't I remember you saying that you only do R.E. on the side ? That you do one or two transactions a year ? If so, that hardly makes you an authority.....



But I could be confusing you with someone else.</blockquote>
I do a handful of buyside transactions per year both in Vegas and in So Cal and I never said I'm an authority, but I do know my stuff. I've been working in the commercial real estate industry for 8+ years and have an MBA with a real estate concentration so I think that separates me from a lot of realtors out there.
 
[quote author="usctrojanman29" date=1218040013]. . . . If I'm giving up a big chunck of any commission that I may earn, then that would make me less incentivized to push buyers into properties than a realtor who will collect a full commission, correct?</blockquote>


Not by my read. I would think that if you were earning less money per transaction, you would be looking to do more transactions to meet your monthly nut. But as you have said, the residential stuff is a side biz for you. I think it is entirely possible for a Realtor (or anyone in a service biz) to think long term or short term regardless of payment structure.





[quote author="usctrojanman29" date=1218040013]But the thing that bothers me most about realtors (in general), is that any Joe 6pack can get their real estate license without a degree or any kind of significant training/education. One good thing about the down market, it will weed out the weak links and the good agents will continue to be successful.</blockquote>


I will agree with you there - and now think about the requirements for mortgage brokers. :gulp:
 
[quote author="EvaLSeraphim" date=1218057421][quote author="usctrojanman29" date=1218040013]. . . . If I'm giving up a big chunck of any commission that I may earn, then that would make me less incentivized to push buyers into properties than a realtor who will collect a full commission, correct?</blockquote>


Not by my read. I would think that if you were earning less money per transaction, you would be looking to do more transactions to meet your monthly nut. But as you have said, the residential stuff is a side biz for you. I think it is entirely possible for a Realtor (or anyone in a service biz) to think long term or short term regardless of payment structure.





[quote author="usctrojanman29" date=1218040013]But the thing that bothers me most about realtors (in general), is that any Joe 6pack can get their real estate license without a degree or any kind of significant training/education. One good thing about the down market, it will weed out the weak links and the good agents will continue to be successful.</blockquote>


I will agree with you there - and now think about the requirements for mortgage brokers. :gulp:</blockquote>


The income that I make from being a realtor represents about 10-15% of what I make at my commercial real estate job. I use the commissions (net of taxes) to pay down my student loans from grad school (over $100k in total).



I'll tell you that in Nevada to be a mortgage agent all you have to do is get finger printed, send in your application with the feet, and in 4 weeks you have are a mortgage agent (no education requirements at all)....scary, huh?
 
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