Redfin No-Show

Hin Shane: I think Redfin can work for the do-it-yourselfer. It's the Costco approach. With that in mind, who has time today to handle a complicated transaction themself? Especially with the soft market we're now experiencing. I believe people will pay, and pay well, for exemplary service. I understand if people need to sell their place and minimize their closing costs so they're not upside down. Otherwise, why not use a knowledgable professional who understands the market. Good luck to you! The days of the full-service real estate professional are back.

Paul

Being in the industry myself I have a few biases towards Redfin. When a service company's best selling point is price, then you know that their service is lacking. All too often Alternative Business Model Brokerages try to lure in customers with great marketing and PR about how low their cost is. They spend all that marketing money on their best feature. If they offered great service they wouldn't have to spend so much on marketing, and maybe they could have a referral business. I have talked with several past clients of Redfin and most have said that they wouldn't use them in the future.

What's Redfin??? Art T.

Hi Arthur: Redfin is a discount real estate brokerage. They typically, I believe, charge 1% of the transaction cost as opposed to the 3% realtors usually charge. Again, for a do-it-yourselfer, this can save some money. I always advise people to be cautious though. Remember you get what you pay for. I hope this helps.

Paul

I agree with Paul. You get what you pay for. I've never dealt with them, but when I've tried to save money, especially on professional services, I've always been disappointed. After all how many of you would go to a surgeon who was the lowest bidder?

That system doesn't make sense. If I wanted to do it myself why would I pay them anything? Art T.

I have not worked with Redfin, but I have worked recently with several "full service" real estate agents.

We cannot make blanket statements about these things. Just because someone is a full-service real estate agent does not mean they provide a good service; that varies with the agent.

The service provided by agents in my recent past have ranged, for example, from zero open houses in one year, to multiple open house in two months, plus hands-on resolution of over-assessed taxes.

And on a related note, just because I get a bargain rate on something, does not mean the service or product is going to be shoddy. There are many reasons or ways that a bargain can be given--efficiency, loss leader, low-overhead--are just a few examples.

Advances in technology are changing many things. We all need to be clever and consider new ways that we can advance our businesses. Things such as Redfin and Zillow can result.

Which is not to say that the "old fashioned" ways of real estate are old hat. And which is not to say that Redfin or Zillow (or such) works for everyone. It's just to say.

I think the biggest problem with discount brokerages is the perception by other real estate agents that their work is shoddy.

In this difficult market, some agents will shy away from showing houses listed with 1% or 3% brokerage firms due to the commission issue.

I have no experience with Redfin (being in the Willamette Valley and all), but using a discount brokerage can be a bit of a gamble if you're selling, IMHO.

The only experience I have with Redfin is to see this house that I really want to list sit on the market. sigh

I can't touch it until their listing expires but man I will be the first one on their doorstep showing them everything I can do to sell their wonderful house.