My Experience with Redfin- AMA (PNW)

So I recently sold my house with Redfin. Last year and earlier this year, I bought 2 houses with Redfin so I just thought I’d share my experience while its fresh in my head. I previously used a full service local broker. My buying experience was overwhelmingly positive while my selling experience was…mediocre. Ask me anything!

Buying with Redfin:

If you’re not a first time homebuyer and already know what you’re getting into, buying with Redfin is great. It is super efficient and low to no pressure. I first started to browse with Redfin because I wanted to tour houses I liked pictures of but wasn’t in a hurry to buy right away. I tried my traditional broker but connecting with her to schedule to look at 1 random house every 3 months was kind of annoying since I wasn’t ready to go full force into house hunting and she wasn’t likely going to get a commission. Redfin’s app is perfect for this kind of casual browsing and tour scheduling. You can schedule a tour anytime and someone will meet you there. The tour agent is paid for the tour but its a different agent each time. So its great if you want just a tour but again, not great if you’re someone who wants an agent who will tailor their pitch to your wants and needs. I think I saw something like 20 houses over 2 years before stumbling on the one I wanted.

When I was ready to make an offer, I ended up working with an amazing full service Redfin agent. I’ve heard that this varies but the one I had was just really good. She originally worked for a traditional brokerage and her service level was no different- she was always available, no pressure and gave really good advice. I felt that she was no different than my traditional agent at this step. I think the only difference is that because it was no pressure and her incentives aren’t as commission based, we were able to negotiate hard in a seller’s market as a buyer without fear of losing a house. I ended up buying both my homes under ask.

The closing side of the transaction is handled by a bunch of different admins on Redfin’s side but its also all in an app with your timeline of when things need to be done. It was relatively efficient but there were times you had to go and make sure something was done correctly or follow up. Like at one point, the admin misspelled my name or I had to follow up 2x on the address listed on the refund check. I prefer this level of autonomy instead of getting calls from my agent but I think that if you’ve never gone through a transaction before, this would probably be frustrating for you.

However, what I thought was amazing was the transaction fees and the other services used by Redfin. Compared to the settlement statement I got from my first house with a traditional broker, the title company, escrow..etc. were all lower. The inspection company they found me charged lower fees and were all digital and was pretty good as well. In the end, I got a check from Redfin for the commission rebate which was amazing for paying for a new floor. I ended up buying 2 houses between last year and this year.

Selling with Redfin:

Redfin has several options- Redfin Now, Redfin Concierge and Redfin Selling.

Redfin Now basically is where Redfin makes you an offer to buy your house as is without putting it on the market. The offer I got from this was COMICALLY low.

Redfin Concierge is Redfin’s full service brokerage where you pay them a traditional commission and they do all of the staging, cleaning, repair coordination and listing

Redfin Selling is Redfin’s commission discount service where they handle the listing but do not cover any of the other work.

I ended up doing Redfin Selling since the selling agent for that service came to my house with a list of contractors they use anyways and I could net the difference by just making phone calls and paying the invoices.

Even though I did/hired out most of the staging, cleaning, set up work, I learned that Redfin Selling does…almost nothing. The original selling agent handled the contract and his assistant came and coordinated the photographer, the signs and marketing materials and then I pretty much never heard from them again. I ended up getting my Buying Agent to come back to be a co-listing agent on this listing who had to jump through some bureaucratic hoops but then worked her butt off. She did everything from doing open houses to picking up my mail. When a buyer tried to negotiate for a credit, she fought hard for me and we won.

In the end, I did sell @ ask but only after dropping my price- which I actually blame the market for since I sold as mortgage rates increased. I did have to do 80% of the handholding- getting a staging company, landscaping company, making sure everyone can be let in, etc. but my listing looks no different than what I’ve seen from other brokers. I may have been able to get a slightly higher price from a traditional broker but I don’t know if it would have been enough to justify the commission difference.

In summary, I don’t think I would use Redfin Selling if I wasn’t experienced or the market was in turmoil. I think that it is great if you’re in a uber sellers market, your house is nothing special to begin with and you’re willing to do some work but I think that if you have any tricky situations such as a market downturn, a house that has high potential for variability in pricing or just don’t know a lot about getting your house ready for sale, a full service broker will give you a lot more peace of mind.

submitted by /u/autarky1
[link] [comments]

So I recently sold my house with Redfin. Last year and earlier this year, I bought 2 houses with Redfin so I just thought I’d share my experience while its fresh in my head. I previously used a full service local broker. My buying experience was overwhelmingly positive while my selling experience was…mediocre. Ask me anything! Buying with Redfin: If you’re not a first time homebuyer and already know what you’re getting into, buying with Redfin is great. It is super efficient and low to no pressure. I first started to browse with Redfin because I wanted to tour houses I liked pictures of but wasn’t in a hurry to buy right away. I tried my traditional broker but connecting with her to schedule to look at 1 random house every 3 months was kind of annoying since I wasn’t ready to go full force into house hunting and she wasn’t likely going to get a commission. Redfin’s app is perfect for this kind of casual browsing and tour scheduling. You can schedule a tour anytime and someone will meet you there. The tour agent is paid for the tour but its a different agent each time. So its great if you want just a tour but again, not great if you’re someone who wants an agent who will tailor their pitch to your wants and needs. I think I saw something like 20 houses over 2 years before stumbling on the one I wanted. When I was ready to make an offer, I ended up working with an amazing full service Redfin agent. I’ve heard that this varies but the one I had was just really good. She originally worked for a traditional brokerage and her service level was no different- she was always available, no pressure and gave really good advice. I felt that she was no different than my traditional agent at this step. I think the only difference is that because it was no pressure and her incentives aren’t as commission based, we were able to negotiate hard in a seller’s market as a buyer without fear of losing a house. I ended up buying both my homes under ask. The closing side of the transaction is handled by a bunch of different admins on Redfin’s side but its also all in an app with your timeline of when things need to be done. It was relatively efficient but there were times you had to go and make sure something was done correctly or follow up. Like at one point, the admin misspelled my name or I had to follow up 2x on the address listed on the refund check. I prefer this level of autonomy instead of getting calls from my agent but I think that if you’ve never gone through a transaction before, this would probably be frustrating for you. However, what I thought was amazing was the transaction fees and the other services used by Redfin. Compared to the settlement statement I got from my first house with a traditional broker, the title company, escrow..etc. were all lower. The inspection company they found me charged lower fees and were all digital and was pretty good as well. In the end, I got a check from Redfin for the commission rebate which was amazing for paying for a new floor. I ended up buying 2 houses between last year and this year. Selling with Redfin: Redfin has several options- Redfin Now, Redfin Concierge and Redfin Selling. Redfin Now basically is where Redfin makes you an offer to buy your house as is without putting it on the market. The offer I got from this was COMICALLY low. Redfin Concierge is Redfin’s full service brokerage where you pay them a traditional commission and they do all of the staging, cleaning, repair coordination and listing Redfin Selling is Redfin’s commission discount service where they handle the listing but do not cover any of the other work. I ended up doing Redfin Selling since the selling agent for that service came to my house with a list of contractors they use anyways and I could net the difference by just making phone calls and paying the invoices. Even though I did/hired out most of the staging, cleaning, set up work, I learned that Redfin Selling does…almost nothing. The original selling agent handled the contract and his assistant came and coordinated the photographer, the signs and marketing materials and then I pretty much never heard from them again. I ended up getting my Buying Agent to come back to be a co-listing agent on this listing who had to jump through some bureaucratic hoops but then worked her butt off. She did everything from doing open houses to picking up my mail. When a buyer tried to negotiate for a credit, she fought hard for me and we won. In the end, I did sell @ ask but only after dropping my price- which I actually blame the market for since I sold as mortgage rates increased. I did have to do 80% of the handholding- getting a staging company, landscaping company, making sure everyone can be let in, etc. but my listing looks no different than what I’ve seen from other brokers. I may have been able to get a slightly higher price from a traditional broker but I don’t know if it would have been enough to justify the commission difference. In summary, I don’t think I would use Redfin Selling if I wasn’t experienced or the market was in turmoil. I think that it is great if you’re in a uber sellers market, your house is nothing special to begin with and you’re willing to do some work but I think that if you have any tricky situations such as a market downturn, a house that has high potential for variability in pricing or just don’t know a lot about getting your house ready for sale, a full service broker will give you a lot more peace of mind. submitted by /u/autarky1 [link] [comments]

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