As a realtor, I'm sad to read all of these posts. I've worked exceptionally hard to build my reputation as well as work on behalf of my clients' best interests. I'm feel honored that my clients have testified to my capabilities. The issue between RedFin and a traditional agent is the services they provide and how they work on their behalf. RedFin is a discount brokerage that offers limited services, but has a great web presence. They are salaried and as such service many many listings at once, which prevents them from dedicating time to their clients. With a traditional realtor, they will be able to offer you insights, strategies and marketing that will allow you to better position your property. In terms of our firm, M Squared Real Estate, we typically sell our listings 15% faster than other brokerages at about 20% above market values. We market on over 900 websites and our print / online media exceeds anything else out there.

Although it appears I'm a minority in here, I would encourage you to use a traditional realtor. Any realtor will work with you to be competitive with other brokerages and commissions are always negotiable!

Best of luck!
Justin
justin.paulhamus@msqrealty.com
MSQRealty.com

Anonymous wrote:

Anonymous wrote:I totally regret not using Redfin. It makes me sick to think of the money we could have saved. Our realtors (we used two different ones) did not add much value.

One idea is that if traditional agents are so expert at working the market, why not offer a sale price guarantee? They guarantee that the property sells for at least what their expert valuation recommends or they take an equivalent Redfin rate of commission? Redfin agents would also offer an alternate pricing rec so should keep agents from guaranteeing on a lowball pricing.

But I am still curious what listing agents do to market property? Not overpricing is key, but underpricing in this market tends to spark bidding so is generally good outcome. But what do the agents do to pursued prospective buyers they never meet??? Staging? pro photos? balloons? ;p

If you are wondering what agents are doing to market properties other than staging/photos/balloons/open house, it means that they are not doing anything else.
If they were, you would know about it.

Anonymous wrote:I totally regret not using Redfin. It makes me sick to think of the money we could have saved. Our realtors (we used two different ones) did not add much value.

They usually are quick to cut the price or get in the way.

Anonymous wrote:I totally regret not using Redfin. It makes me sick to think of the money we could have saved. Our realtors (we used two different ones) did not add much value.

One idea is that if traditional agents are so expert at working the market, why not offer a sale price guarantee? They guarantee that the property sells for at least what their expert valuation recommends or they take an equivalent Redfin rate of commission? Redfin agents would also offer an alternate pricing rec so should keep agents from guaranteeing on a lowball pricing.

But I am still curious what listing agents do to market property? Not overpricing is key, but underpricing in this market tends to spark bidding so is generally good outcome. But what do the agents do to pursued prospective buyers they never meet??? Staging? pro photos? balloons? ;p

I totally regret not using Redfin. It makes me sick to think of the money we could have saved. Our realtors (we used two different ones) did not add much value.

OP, take a look at this previous thread about Redfin:

http://www.dcurbanmom.com/jforum/posts/list/60/391560.page

Since I believe you said your home is in Gaithersburg, you might be okay using them but I still would not do it. They are not full time experienced agents. They are not heavy listing agents with a strong track record of getting the most money for their sellers (because they simply do not have a lot of listings - never have and never will). You get what you pay for and I would encourage you and DH to interview three agents. Interview a Redfin agent if you'd like but also interview a couple of traditional agents. I PROMISE you the difference will be CRYSTAL clear. I would not ask for any more real estate advice on this board because it is quite clear that someone who works for Redfin is policing it and someone who hates real estate agents (and THINKS they know the business) also is. This is a big transaction for you and you cannot afford to leave it to amateurs. Good luck.

Anonymous wrote:Honestly I think at this price point and location, Redfin makes a lot of sense. The high performing agents are working near the city trying to angle high prices properties. OP market is much smaller, and they work more on volume, and this a discount broker makes a lot of sense.

And we just bought a house, but actually had offers accepted on at least 4 other properties that fell thru on inspection. But at no point did the listing agent have anything to do with the process nor had any opportunity to influence my decision.

Please, agents, I really want to understand what you do to induce buyers??? Most folks are looking on MLS thru realtor.com or Redfin; what marketing or persuasion do you bring to the table. Flyers, open houses, balloons, are all nonsense. What is the real contribution.

+1

No sock puppeting here.

OP, Redfin charges you 4%, you say that normal realtors charge 6% but based on what I hear around me 5% is more the norm ( I live in a fairly expensive and hot area). interview agents and see if what you get from Redfin is worth what could be just 1% saving (obviously you need a good agent, from Redfin or from a traditional agency).

Anonymous wrote:I'm looking to buy a house. I know EXACTLY what I want, and I stalk the inventory on-line. Mostly what my buyer's agent has done is hook me up with the MRIS daily updates. She's gotten me in to see a couple of properties;otherwise I just go to open houses. She will help us with the paperwork for offers and, if we get accepted, with settlement. I'm not sure this is worth 2.5% of a $1.3 million purchase price.

I'm not sure this is relevant to this particular topic. There are about fifty other threads where it would be relevant, though.

Anonymous wrote:Why I have used a traditional agent in the past, ad would again int the future, is because they helped me prepare and market my house. In both cases, the houses were on the market for less than two weeks. In shirt, they did their own inspection and we corrected and improved things before the house was shown. That expertise and not having the house lingering on the market was worth the money.

How did agent market your property?

I'm looking to buy a house. I know EXACTLY what I want, and I stalk the inventory on-line. Mostly what my buyer's agent has done is hook me up with the MRIS daily updates. She's gotten me in to see a couple of properties;otherwise I just go to open houses. She will help us with the paperwork for offers and, if we get accepted, with settlement. I'm not sure this is worth 2.5% of a $1.3 million purchase price.

Why I have used a traditional agent in the past, ad would again int the future, is because they helped me prepare and market my house. In both cases, the houses were on the market for less than two weeks. In shirt, they did their own inspection and we corrected and improved things before the house was shown. That expertise and not having the house lingering on the market was worth the money.

No one gets 6%! OP, you are very naive if you believe that crap from traditional realtors!

Every realtor we interviewed said "Our NORMAL commission is 6%, but we'll discount it to 5% FOR YOU."

Ha ha ha ha.

Please. We went with Redfin. You should read the posts by the crazy realtors on this thread (and other threads) and decide who is the most sane and rational person you want representing you!

Our traditional realtor in our last home sale was smooth! A great salesman! But he had ADD and forgot lots of stuff! He was really terrible. I was saved by the fact that I'd done lots of home sales previously. He added nothing to the process except charm, and that cost ME money.

Use Redfin. Listen to your DH!! Show him this thread!

Anonymous wrote:^^^ Here's the jackass again! (Probably works for Redfin). OP, have you read all of the thread lately on this? A Redfin agent cannot even negotiate their own worth. What makes you then think they can negotiate for you?

Houses do not sell themselves despite what all of the armchair agents on this forum will say.

Maybe you and DH can compromise and find a Long and Foster agent or Keller Williams agent who will do it for 5.5%? You have to offer the buyer's agent 3%. Good luck!

^^obviously written by a traditional agent!

OP, go with Redfin. Interview the agent. You often have a choice. If you don't like the agent, then don't use him/her. But why throw money away??

We used a traditional agent for our home sale, and he actually cost us money on the inspection. He had a deal with a friend of his who does contracting. He tried to push us to do MORE repairs than the contract required just to throw his friend some more money!!

Really, you are wasting your $$ on a traditional agent. Go with Redfin!! Obviously!!

p.s. I've sold multiple houses. The Redfin agent I used on our last purchase was great! Not all are great, but our experience was super. If your DH likes the Redfin agent, I see this as a no brainer. Don't be brainwashed by the traditional agents trying to keep their outrageous commissions!!

I'm one of the Redfin posters. I'm most definitely not an agent. I own 8 rental units & some other misc real estate and am quite active in the market (as is my family). The fact of the matter is that:
- only naive suckers are offering anything over 2.5% to buyers agent
- if you ask around (particularly to those who own their own brokerage) you can find regular agents willing to list for 2%
- realtors are by and large morons: now that consumers can see for themselves what's available they are a dying vestige of the past (hence the drama from agents posting here)
- Redfin offers a great service. Ziprealty is similar.