Recent experience selling with Redfin in Bethesda or NWDC?
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Anonymous
| Any recent experience, especially in the 1.5M range? Since houses sell themselves in this market, why is Redfin not more widely used given the savings on commissions? Is there still a stigma associated with it? |
Anonymous
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Realtors will not show your house. Will talk it down. Lowball offers.
Had this in 1.5 plus home in 20815. |
Anonymous
I'm an agent and that is absolutely not true. If their buyers want to see the house, agents will show it. |
Anonymous
| We sold with redfin in Bethesda last April for around $1.2. We had plenty of traffic and sold $100k over list. If a buyer wants to buy a home why on earth wouldn't a realtor do what the buyer wants. If the realtor balked I'd fire them. We've bought three times now and the seller realtor company has never been an issue. |
Anonymous
| I welcome Redfin ushering a new era for real estate transactions, where buyer brokers make little money |
Anonymous
I could see a new model evolving where sellers' agents pretty much do the same thing they did before, but buyers' agents are transformed into agents who truly work for the buyer and not the deal. Perhaps home shoppers will do more to find houses on their own. They could still get help from a buyer's agent, but probably would have to pay for that service. I would think the massive time suck of helping prospective buyers find and tour houses for months or years on end would no longer be worth it to most agents who represent buyers. After the consumer has found a house they are interested in, the buyer's agent would step in and offer advice about how to structure an offer (e.g. whether to do a pre-inspection, whether to waive contingincies, whether to offer over asking -- all of which would require them to be up on market conditions in the region and neigborhood). The buyer's agent would then write up the offer and submit it and negotiate on behalf of the buyer. They could charge a flat fee for that service -- in the same way that people pay home inspectors a flat fee for a pre-inspection. If the offer is accepted, let's say the buyer's agent gets a bonus of an agreed-on amount, paid by the person trying to buy the house. If the deal closes, the buyer's agent gets another bonus of an agreed upon amount. Unlike before, these fees would be paid directly by the buyer. So prospective buyers would have to pay just to put in offers (if you want to use a buyer's agent -- presumably the seller's agent could arrange for dual agency if desired). This would ensure that homes are priced lower than they otherwise would have been (because the seller is only paying one agent with the commission). And it would incentivize buyers' agents to truly represent buyers' interests and demonstrate their value in doing so -- otherwise buyers aren't going to hire them. I'll grant that it could also reduce competition for houses -- because buyers would have to pay a fee just to put in an offer -- which would be bad for the home seller, because they would probably get fewer offers than under the current system. It'll be interesting to see how this evolves. There really does -- finally -- seem to be some potential for market disruption in the real estate industry. |
Anonymous
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in my experience Redfin agents have been the MOST flexible and available when it came to showing houses.
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Anonymous
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How would today's big news about the NAR settlement effectively eliminating the 6% affect Redfin's attractiveness relative to standard realtors? Would Redfin need to significantly lower commission now?
https://www.cnn.com/2024/03/15/economy/nar-realtor-commissions-settlement/index.html |
Anonymous
| I think buyers' agents will die off. No need to get a buyers agent. You can find all the listings online. There has not been an agent who tells me what I don't already know of a market I am interested in. |
Anonymous
There’s no way. Buyers are not stupid. We can all see the MLS. If an agent refuses to show a house or even if the buyer thought the agent was trying to tank it, the buyer is going to drop that agent in a hot second. No commission is worse than a low commission. |
Anonymous
This is something selling agents say to scare you away from Redfin because they want your business. It's absolutely not true. Buyer's agents get the same amount as they would from any other transaction. It's seller's agents that are missing out on money because of Redfin so they try to scare you into using them. The only thing you're not getting with Redfin is staging and you can pay for that and more with the savings you get from listing your home on Redfin. |
Anonymous
Proof that buyer's agents make the same amount if the seller is using Redfin or another real estate company: https://www.redfin.com/news/buyers-agent-commissions-display/ |
Anonymous
No shit. |
Anonymous
What is your problem? PP was implying that a buyer's agent wouldn't show a Redfin house because they make less money and that is absolutely not true, agent. I'm sure Agent X will show up to refute this, but they're wrong. |
Anonymous
| I think it just depends on the specific Redfin realtor you go through. We interviewed one and he was completely lacking in experience and gave poor advice, so we went with someone with more qualified (lived in our neighborhood, etc.) to help in the ways we needed. |