Whether you spend hours in front of the television daily or only a matter of minutes to catch the news each week, you have probably experienced the latest Redfin commercials. You might even be tossing around the idea of using Redfin to sell your
home. While Redfin has many full-service agents on staff, there are pros and cons to utilizing a website to sell your home verses a full-time, in-person experienced realtor.
1. - Savings. Redfin pays their own agents a flat rate and not a commission-based percentage. Therefore, home sellers
might pay only three percent in commission to a buyer's agent versus the normal six to seven percent paid to a listing brokerage/selling agent. However, it is important to remember as you continue reading that you get what you pay for.
2. - Refdin boasts a rather well-designed search engine for real estate shoppers, however the website is not updated up to the minute. Redfin also utilizes helpful data in the listings such as local pricing information, school district information
and notes from realtors who might have previously visited the specific property you click on.
1. - A full-service agent who is familiar with your neighborhood or the one in which you hope to reside will have a much better understanding of the market, current pricing, strong sales strategies and firm handle on acceptable negotiations and perks.
While Redfin boasts impressive data platforms, your Arizona agent isn't going to have as strong a handle on your Jacksonville neighborhood.
2. - Real estate professionals
thrive on building relationships with fellow realtors just as much, if not more, as they do with clients. Redfin agents will be unlikely to have relationships with other realtors within your zip code
who might now of homes that will be listed soon or buyers who are interested in purchasing within your neighborhood. Furthermore, a local agent who has worked to maintain strong relationships with colleagues will know what didn't sell last year
in the neighborhood in which you'd like to live. That same agent will reach out to see if last year's seller might be ready to sell this year to you! Unfortunately, you won't get that kind of service from Redfin.
Here's the bottom line:
Redfin is not a bad gig if you don't mind pocketing more of your cash, but doing more of the work...which is going to cost you money. So you have to ask yourself whether you are really saving yourself money and hassle. Simply put, you
can't beat the service you will get from a local, experienced real estate professional; someone who eats, breaths and lives all things real estate and is hungry enough to pay attending to your needs and advocate on your behalf. Furthermore,
you get what you pay for and Redfin cannot provide clients with hands on expertise and guidance through every process of a real estate transaction.
Related: "4 Factors for a Quick Sale"
"New Year, New Realtor"