Liz,

You live in a great area, but it's a little off the beaten path. In this market, with 30% or more fewer buyers for Holmes Point/Finn Hill on average, your price point is $100,000 to $150,000 or so over what 50% or more of those buyers are looking for. You're in that in between price of not cheap and not high priced with a great view or new. Seems to me you are in the $650,000 to $700,000 range, depending on what you may have done with the house since you bought it 5 years ago.

What happened to that new house asking $1.2M a couple of streets over? Seems to have disappeared off market, and yet not sold.

The only closed sale in your neighborhood in the last six months, was a lesser house at just under $550,000 as I recall. All things considered, especially in this slower market with fewer buyers, you either want the best you can get, or you want to forfeit the savings off price. Either way...it's not likely go into your pocket. If you're hoping to be in the $700,000 to $750,000 range, get at least 3 and better yet 5 price opinions. Don't tell them what you want to list for. Get blind opinions and see if any fall over $700,000.

Price will be more important than who you list with given the size of your lot and its location. The difference between asking $699,950 and $729,950 may be vast. Of course I haven't seen your house, so that's a little vague. But based on what I can tell by just knowing your name, that's my $02 for what it's worth.

Tue May 13 2008, 22:45

I'd like to comment on the past few posts.

Melinda: I love your comment about the restaurants. No, you don't go back to the restaurant or agency that disappoints you or has a reputation of not being good. You also don't give up on all restaurants or agencies to start cooking all your meals yourself. Who has the time, economies of scale and expertise to do everything yourself. A restaurant or Realtor (whether full service or discount) is intended to make your life easier, not more difficult. Sometimes you go to a fancy expensive restaurant and get taken care of completely. Sometimes you do the drive through, spend less money, not as enjoyable and all sorts of differences. However, don't expect to buy something off the $0.99 menu and have a waiter refill your glass every time it is half empty.

Laurie at Options, thumbs up.

Pat and Rick: Did you NOT read the entire question?! They paid for a full service and did NOT get what they paid for. Was this just your little sales pitch implying that you do what all agents SHOULD do but don't necessarily do? At least at a place like RedFin, you DO get what you pay for. You pay less and you get less. However, the problem is when you PAY for full service and get RedFin service instead, you are getting ripped off.

Robert, thumbs up.
Ruthless

Fri May 9 2008, 10:20

The old saying that you get what you pay for does not seem like it held true in this situation. I think using a firm that does not charge a 6% commission makes sense. In a complicated transaction where you may need legal or tax advice the commission you save will pay for a good real estate attorney or tax accountant.
A licensed attorney or accountant are the only ones qualified to give advice regarding law or taxes.

Sun May 4 2008, 19:02

As in most things in life, you usually get what you pay for. A good Full service agent should provide a host of services such as : Respect your needs, wishes, and time. Work to represent your best interests in the purchase of your home. Full-time real estate professionals who have earned professional designations like the Certified Residential Specialist (CRS) designation.
Exceptional Negotiation skills.
Outstanding Market Knowledge with many years pof full time experience serving real estate client needs .
Relentless and Persistent effort to meet your needs. Purchasing a home is a process and your agent should stay with you all the way through and beyond.
Save You Time by listening and showing you only those homes that meet your criteria. Communicate daily via e-mail or phone, whichever works best for you.
Obsessive Attention to Detail so you can focus on the big picture. Deadlines should be clearly communicated to you and always met.
Being Committed to Honest & Ethical Dealing with all parties in the process. You should begin life in your new home with an abundance of positive energy.
Make the process informative and enjoyable. Buying a home is often the single largest financial decision you will ever make. Your agent should strive to make it enjoyable as well.
Provide Concierge Services.: 1)refer you to qualified mortgage professionals you can rely on for the best rates and the ability to close your loan. 2) refer you to qualified service providers for property inspections, escrow closers, title review, repairs, etc. 3)meet with your service providers, as appropriate, so you can use your time most productively.
Provide a Buyer Book that explains the complete home buying process and how you can best navigate through the systems and paperwork to maximize your experience.
Ensure a Home Warranty is provided for your peace of mind.
Prepare a Competitive Market Analysis on homes of interest so you are comfortable with all price negotiations and you don't waste time making offers that are too low, or leave money on the table by making offers that are too high.
Utilize knowledge of home construction and inspection experiences to help you understand and negotiate inspection issues and repairs.
Network with Peers and leverage positive peer relationships to the clients’ advantage; e.g. identifying new listings before they are on the market.
After Sales Service Program to ensure your ongoing satisfaction.

Wed Apr 2 2008, 07:24

In light of your previous experience, there's absolutely no reason not to try Redfin.

Tue Mar 25 2008, 16:40

Liz, I am so sorry to hear you have had a bad experience! Let me ask you this though. Have you ever had bad service at a particular restraunt? Did that stop you from eating at all of them? Probably not. There are thousands of agents out there. We each have our own level of experiences and how we do business. Next time you should probably interview a few different agents to get a feel on how differently agents work.

I hope this information helps! Best Wishes!

Tue Mar 25 2008, 14:52

when you hire an experianced realtor, you are hiring a negotiator that will represent what you want done, and at what price, whether you are buying or selling. A good agent will see that you get the best value for your dollar.
Choose wisely, and call for references, to find out how an agent did in a good market, or a bad market. Today the "minimum" service agent is not happy, as the deals are few and far between, and they only get paid what they negotiate with you...the buyer or seller. How hard will your agent fight to keep your price point if they are getting paid minimum wage.

Tue Mar 25 2008, 08:06

Liz,

First let me echo the apologies of the other agents in the thread. Your last experience sounds like a nightmare. Such experiences give good agents a bad name, so I apologize on behalf of the industry.
I won't speak to Redfin specifically, but let me say this. Discount agencies are not a new thing. They have existed for as long as real estate agency has existed. With the explosion of the internet they seem to have experienced a renaissance. In my opinion they provide a valuable service to a group of buyers and sellers who want a specific level of service. I do think what they provide is fundamentally different then what a full service agent will offer. Let me clarify. What a GOOD full service agent would provide. Do your research, read consumer feedback and make an informed decision. Agents like any other profession vary in the quality of service they provide. Good ones are worth every penny. Best of luck.

Thu Mar 13 2008, 14:35

I've learned throughout the years that you get what you pay for; everyone wants the highest service, best quality, at the lowest price. I haven't found a company that can do that for any service or product in the market today. There are a lot of agents that are willing to do open houses, all the marketing, and everything else to make sure your informed and well taken care of. Don't be afraid to interview a few agents to find the one that you feel most comfortable working with. The same goes for the lender.

Wed Mar 12 2008, 10:52

I had some pretty bad experience with that company--they do NOTHING!

Tue Mar 11 2008, 18:37

I understand your plight and sympathize. As a realtor let me say this.... not all realtors are created equal. The best advice do your homework and thoroughly interview your potential agent. Ask tough questions. Interview more than one and definitely get referrals from friends or family who have had a good experience. It sounds great in theory to go it alone and sell FSBO or pay someone $500 to stick your home in the MLS and pray it sells, but really that's not what you are looking for. In the end selling FSBO you aren't aware of all the disclosure laws in WA state. Should you ever be sued over something after the sale of your home and you didn't disclose or weren't aware it was a problem, you will be liable. In the end the money you would have paid a realtor would be far less than settling the lawsuit. Do your homework, interview top agents (easy to find out who they are!) and let them assist you. Agents sell homes an average of 8-14% higher than For Sale By Owner. That covers the 6% commission. And 95% of all real estate related lawsuits are associated with FSBO sales. It's not that people aren't successful selling on their own, they just open themselves up to alot of potential headaches. Best of luck in selling your home.

Thu Nov 22 2007, 02:44

Redfinhomebuyer wrote:
Open houses will become increasingly more effective as people move towards non-traditional methods for purchasing a home. I am a current home buyer and am using Redfin. I take full advantage of open houses to see the houses I am very interested in. If for some reason there isn't an open house then I have to deal with reluctant sellers agents showing me the home. If they flat out refuse then I use my last resort of paying Redfin a flat fee to show me the home.

Open houses might not have made much sense in the past but I believe they will make all of the difference in the future.
~~~~~~~~~~~~~~~~~
Yes, I know I would love it if a customer came to my open house and then submitted an offer thru Redfin. Because they'd get one fight from me. They wouldn't get a commission. You are saying open houses will be more effective, what you mean is that more people will go to an open house and then buy from a rebate company? I think you'll see more backlash from agents who work to market homes and spend time having open houses and then have someone else write the offer. Our MLS is already full of agents who post caveats regarding having "your" customer come without "you" to an open, without notifying us FIRST.

Wed Nov 14 2007, 10:03

It took me a while to post that last one, so I hadn't seen your response Liz.

I agree with you completely on that point. I just learned today that the co-broke to an outfit such as Redfin might NOT come in and then you wouldn't receive a rebate. But that is really another issue.

Unfortunately, LISTING your home with an agency that Buyer's Agents don't want to work with is a kiss of death. I would strongly advice you to list your home with a highly respected agent and office. Buying a home through Redfin or similar outfits can be very advantageous for the highly knowledgeable consumer. I feel just as strongly about seller's shooting themselves in the foot by listing with Redfin as I do about Realtor's shooting themselves by NOT cooperating with Redfin buyers.

That's my story and I'm sticking to it. (Regardless of the other flip flops you read from me based on a case by case basis.) I feel like I'm being extorted to use full service traditional Realtors to list a home, but PRIDE can cost you hundreds of thousands of dollars.

Sorry, Liz - That's the truth.
Ruth

Wed Nov 14 2007, 08:21

This question comes up a lot on this forum. Read these two threads:
http://www.trulia.com/voices/Tech_Tips/Buy_side_vs_Redfin_re…
http://www.trulia.com/voices/Home_Buying/Redfin_v_full_servi…

What I have learned on Trulia is that there are REALLY EXCELLENT AGENTS out there worth their weight in GOLD. If you can find one of them, you will come out better than you expect and better than getting a rebate.

Here is a real life consumer that didn't know what was going wrong:
http://www.trulia.com/voices/Home_Selling/Please_give_me_you…

Some of the other debates can be found by searching FSBO.
Good luck,
Ruth

Wed Nov 14 2007, 08:02

Open houses will become increasingly more effective as people move towards non-traditional methods for purchasing a home. I am a current home buyer and am using Redfin. I take full advantage of open houses to see the houses I am very interested in. If for some reason there isn't an open house then I have to deal with reluctant sellers agents showing me the home. If they flat out refuse then I use my last resort of paying Redfin a flat fee to show me the home.

Open houses might not have made much sense in the past but I believe they will make all of the difference in the future.

Wed Nov 14 2007, 07:13

It's hard to answer, not knowing more details, for example I don't know what law it was that the realtor did not know about. Realtors are not attorneys or tax accountants. I have been asked if certain state fees are deductible and I always say to ask your accountant. Each situation is different and I would have an awful lot of liability if I gave the wrong answer. As for avoiding big agencies, why would you avoid agencies that probably have more agents and more money to get your house out there to the most people? The internet HAS changed the state of real estate, but it costs money to have an internet presence, too. I have been with big and I have been with small, and bigger is definitely better. ON the topic of open houses, I have sold homes at open houses but very very few. And looking back, those sales would have happened even without the open house (with the same buyers, one was sent by an agent, another was sent by a neighbor). It depends where you live. Where I practice open houses are not that effective. I understand you've worked hard and put money into the house and would have liked to come out with more, but other than at the height of the boom, I think it is rare to find someone who has sold a house and not felt that they "could have" gotten more, it's human nature.

Thu Aug 16 2007, 00:10

Liz
My dad said "Measure twice, cut once".
The truth is (IMHO) that NO ONE person knows the anwers. One needs a trusted group of confidants to ask questions. Funny enough, that is what dragged me into this business. We personally had such BAD experiences..that I said to myself "This is crazy. What can we do!"
I would be happy to talk with you off list...however, to provide an answer to the Trulia readers:
1. Ask a lot of questions
2. Ask "what happens if" and get some CPA input
3. Determine if your REALTOR is just looking for a transaction...or to HELP youl.
4. Interview at least three agents and ask the TOUGH questions.

I can relate.
Keith

Wed Aug 15 2007, 22:14