They are a full service brokerage. They do everything a normal brokerage does. They work as a team, so you are never at the mercy of one individual's time. They provide all the tools and information to the consumer so that the consumer can make an informed decision. They then rebate a portion of the commission back to the consumer. The website is updated every 15 minutes by pulling info from the local MLS. As far as quality of agents, you can read the reviews other clients left about a specific agent and the activity of that agent.
The only con (or pro) regarding Redfin is that a traditional brokerage will locate properties for you. In other words, you tell me that you are looking for a 3BD under 400k and I will look for properties and send them to you. With Redfin, you create your searches and when a property becomes available within your search guidelines, you are notified.
I know this info is late (and maybe not even California specific) but I felt there was no true representation of Redfin in regards to this subject matter.
Prudential California Realty
Beverly Hills, CA
As an example, just recently, I'd previewed every home that comes on the market before showing it to my client, thus saving her time. For another buyer, we kept losing out in multiple bids, and couldn't get a property. So, I went door knocking in the desired neighborhood and actually found a willing seller for my buyer. These are just two of the many services I provide my buyers that a Redfin agent will never do.
Good luck to you.
1. Does RED FIN clearly explain customers what functions they will do for clients in comparison with using a Traditional Real Estate Office. Does they review the documents, paperworks, deeds, loan documents, etc? Will RED FIN Agents arrange Home Inspection / Termite Inspection if requested by buyer? Does RED FIN arrange to get ESTIMATES for necessary repairs and works needed if requested by Buyer?
2. How much AFTER SALES SUPPORT a Red fin Agent gives to its client once the escrow closes? Do they review the Closing paperwork? Do they help Buyers explaining Homestead, Exemption Forms etc? Does RED FIN has an After Sales visit to any of the represented properties to explain paper works received after closing of escrow?
3. Does Listing Broker has the option of requesting MLS to stop forwarding listing to RED FIN or any sites which they feel and consider is working unfair to the Agent Community on a long term prospect?
4. As per the review many Agents are submitting Purchase Offers before visiting property or reviewing the property conditions. Is RED FIN directly responsible for actions of the Agents or Partner Agents?
6. CORPORATE TAKEOVER: There are many reviews in multiple discussion forms about RED FIN that it is kind of a repetition of what happening in all other industries. A big corporate slowly establishing its presence in the industry and making it hard for independent and small companies to survive and making them extinct. The same what happened with Checking Accounts with Banks once Big banks acquired all the small banks and without any competition the FREE CHECKING ACCOUNT has completely disappeared now only FEE Checking Account. Any thoughts or views about CORPORATES taking over the livelihood of small companies in almost every industries?
7. Any conditions disclosed after closing: If the Buyer discovers any conditions that were not properly explained, examined or disclosed before closing Or about any forms they signed which were not properly explained or disclosed? What remedies the Buyers can proceed with or take after Closing?
As I was reviewing the various discussions in the lengthy topic favoring and against RED FIN. I thought to send my Questions and Thoughts so other Agents can provide their valuable opinions and thoughts about the matter.
You are better off working with someone in the local area. Please contact me. I will give you 20% of my commission!
Andrew G. Belcher
CA. Broker Lic. 01707173
468 N. Camden Dr.
Beverly Hills, CA. 90210
Are you looking to sell your home on your own? According to NAR home sellers will save big when working with a Realtor. Check the link for a great article.
Exit Realty Search
Licensed Real Estate Salesperson
3928 E. Tremont Avenue
FAX: Â Â 347-202-4966
#FIRST TIME HOME BUYERS
First off all, for buyers, our service fee is free (seller pays it, or bank owned bank pays it). So it's better to work with local agent. Those web sites try to get a piece from real estate market, so the fastest and easiest way doing it to discount the service fees, pay back some commission back. Logically, if you know from the beginning that you will be paid less, how many of people work full amount of worth for less?
The other point is, the seller's agent works for seller's best interest, buyer's agent works for buyer's best interest. Some people try to find listing agents and want to work with them, because they think they know better about the property. But what they miss it, they are committed to work for seller's best interest, they can't help for many details, they can't negotiate the price. When this service is free for you and can get full service, what's to point to be in that situation?
The best thing to do is, if you are a buyer, work with your own agent, make sure that person is really dedicated his/her time, energy, knowledge, expertise to you and please do the same thing, too. That's how you get the priority and the best deal. there are more stuff involved than just finding a property, and even more involved how to find and the next step process, the really special ones don't disappear after selling it and ready to help more. They educate you from how the process works to how the current market is. But if you are not loyal to your agent and try to work with for more than one agent, you will be wasting your time and their time, the result will be fruitless for everyone.
If you would like to talk about more and I can also give more info about the differences between NY and CA how the things work in real estate. I used to live in Manhattan and invested in NY state. :
166 Canon Drive
Beverly Hills, CA 90210
310 428 6573
Local Realtors are much more experienced with local properties, community amenities. Such experienced Realtors will help and advise you as buyers on detail of properties available, pricing trends, strategy and contract negotiations, seller disclosure requirements, and ways for you as buyer to get the best deal possible in the end.
Buyers should be careful when dealing with real estate brokers who advertise to discount their commissions. Such discount brokers market to give away their compensation and are usually are much less experienced and educated about local real estate, would probably provide significantly less in terms of customer services and Realtor value.
Especially in this market where we facing huge competition - it is always best to have a real person to contact and ask all important questions.
There is a conflict of interest - the more agent get paid the more Interest he/she has in providing you with outstanding service and vice versa.
Help with Any Real Estate Transaction - Buy or Sell Â
Call me 424-777-9377 - Â FREE CONSULTATION! Â
Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855) Â ext. 777.Â
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REALTOR.com is the most accurate. However, there is no database more accurate than the MLS, which I have access to 24/7.
The truth of the matter they ALL pull the same info from the MLS , it is just a matter of how quickly that info is pulled and updated from the MLS. Some do their updates every 15 mins, once per day or twice/day, some remove the sold and pending properties others don't so they can attract more Buyers and sell the leads to the Real Estate agents who sign up to purchase the leads.
These sites DO NOT individually post or update the MAIN site that is MLS ( Multiple Listing System) which is paid for and maintained by the listing agents through the local Board of Realtors. Even when a Redfin listing agent has his/her own listing any update is processed only through MLS .
As others have noted, red fin does have a good website, is it the most accurate...again as others have noted it is pulling information from the local MLS and every realtor has access to that information as well. As far as the commission goes, the seller actually pays the commission and the buyers agent gets a part of that. Since it is not coming out of your pocket you should probably think about who is going to give you the best and most knowledgable representation.
Do you care about getting money back from the commission more than about the quality and competency of the service you will get?
I would interview a series of agents... including Redfin, before making a decision... I have competed with Redfin and also closed transactions where I was the listing agent and they were the buyer's agent... Their main agent in this area (Cameron) is a decent agent... I am not sure how much you would deal with him and how much you would with their support staff...
Obviously, I feel very good about my qualifications and credentials, as well as my experience. I have an MBA in Finance, I have a Law Degree, I am a licensed General Contractor and also the broker owner of my company, so I could negotiate commission any way I want. I believe I earn my commission by providing you more value than the amount of money I am making... So I would chose me, instead of Redfin ( oh, how unbiased and humble!)LOL
Again, interview people, send emails do phone calls and see who gets to keep your business! make us work for it!
Redfin is a virtual, online Brokerage that pulls and displays all listing from the local MLS within minutes from time listing is posted to MLS by the listing agents.
If the property is not listed in the local MLS it can NOT show on Redfin site, therefore their info is as accurate as the MLS info is.
They have a great site that is easy to navigate an shows a lot of info that Buyers like to see.
Redfin model offers their own local Agent teams and referral to local Partner Agents from different Brokerages who will credit Buyers 15% of their commission at close of Escrow. Currently Rebates are legal in Calif, there are a few state where they are not. Each model works a bit different, contact me and I'll explain.
Ultimately you will have to decide what is most important to you.
I would be happy to answer any other questions or assist you.
13423 Ventura Blvd
Sherman Oaks CA 91423
DRE # 1335053
I don't know about them having more accurate listings.... each and every agent in your area has access to the MLS which has the single most accurate listings. Yes, Redfin's website is terrific. I covet their website. But other than the rebate (and I question whether rebates are legal in California... hopefully a California agent can chime in)... a local agent can do an excellent job, and if they're local (and Redfin is not?)... they'll be far more familiar with the local listings.
As a local Realtor, not just a real estate agent, I use the MLS which is the most accurate website.
I am with Coldwell Banker, not a discount broker.
Ultimately, it is who you are most confortable with.
I would be happy to assist you.
Susan Bo'ur/Realtor Coldwell Banker