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Old 04-15-2015, 09:38 AM
 
94 posts, read 97,755 times
Reputation: 61

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Hello all,

I think the subject line pretty much says it all, but it looks like I'll be trying to sell my home in the next few weeks and while I'm using Redfin agent to look at prospective homes, I've yet to select an agent to list my home.

At Redfin, the buyers agent and sellers agent are not the same person so I am not being pressured to use them, but I do like the low fee structure and some of the technological aspects of their website and am strongly considering them to list with. My concern is around their in-depth knowledge of my market and ability to get people looking at my home.

I do have some concerns about getting my home sold so I feel like I need a good agent. My house was listed 3 years ago for 6 months and did not sell (I used an agent who a neighbor had good success with). I don't have a ton of real estate experience so I don't really know what would have made a difference in the process, but it seemed to me her only advice throughout was to lower the price (we started out at a listing of $389k and eventually took it off market at $346k 6 months later after 5 price changes). Part of the issue may be that the home is/was near the upper range of the market in Oswego, where most homes are in the mid-200s, part of it may be that the market was pretty slow in 2012.

At any rate, I'm not sure if I'm better off using a discount broker such as Redfin, or if I'd be better served with a local agent who presumably has better local contacts (my last agent was local though and didn't get it done).

Thanks for any advice!
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Old 04-15-2015, 12:40 PM
 
3,783 posts, read 5,528,400 times
Reputation: 2084
Ive used them and had no problem. I think it depends on the broker.
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Old 04-15-2015, 05:10 PM
 
Location: Hickory Hills
17 posts, read 12,998 times
Reputation: 22
Redfin, like all brokerages, has good and bad agents. The big thing you should look for is what their marketing plan entails. How are they going to get maximum exposure of your home? To what audience will they market to, and for how long? Whats their online presence like- will they feature your home on other sites like Trulia, Zillow, etc? How many mailings will they do to their database, and your neighborhood? What kind of materials will be used for the mailing (regular post cards/flyers vs. double sided UV glossed cards (aka the fancy looking shiny ones)? Will they host broker opens? Are they willing to host an open house? Will they run facebook ads for an open house? How often will they update you on the activity of your home? Will you get a dedicated website specifically of your home?

All of these things help get maximum exposure of your property. All of these things costs money out of the agents pocket, not the brokerage. This is where the "you get what you pay for" saying comes in to play. For agents that go all out to market your property they will charge a higher interest rate. They are putting their own money into listing your home for the CHANCE of selling it. If it doesn't sell, I can tell you that Trulia, Zillow, Facebook, etc will not refund the money!

Anyway, I'm trying not to ramble. But these are things that GOOD listing agents should be doing at some level regardless of the commission rate. Ask ANY realtor that you interview these types of questions. Go with the one YOU feel comfortable with. Good luck!
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Old 04-15-2015, 06:22 PM
 
28,383 posts, read 67,919,335 times
Reputation: 18189
I will be blunt: In the general Chicago market you would be missing out on WAY TOO MANY buyers that have NO IDEA what Redfin is if you do not use a TRADITIONAL REAL ESTATE BROKERAGE. The stats in other places may not be so dominated by traditional brokerages, but here there is barely 10% market penetration for the "online only" brokers COMBINED -- seriously Trulia, Zillow, Redfin might be fine in some area where everybody does lots of online business but that AIN'T THE DEAL in majority of Chicago itself nor is it the case in ANY suburbs. Sure some people do "shop online" but when it comes to the numbers of CLOSED SALES the traditional firms (ReMax, Coldwell Banker, Baird & Warner, etc) have such a HUGE lock on the market you'd really be missing out.

And FEES ARE NEGOTIABLE, nearly any decent real estate agent will tell you UPFRONT that if limit the commission to smaller number you just will not get as much activity from cooperating brokers. It is simple math -- if an agent can make more money on similar priced home with better commission they will spend more time marketing those homes!
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Old 04-20-2015, 12:29 PM
 
3,783 posts, read 5,528,400 times
Reputation: 2084
The broker that I used was with a realty company but was also on Redfin. He was quite good and I would recommend him. I almost exclusively use the redfin website when looking for properties. They don't bug you and make you give them a bunch of info you don't want to give and you can use their website to your hearts desire. Most all the places I have ever looked at are all on Redfin even if they are Coldwell Banker, etc. Sold my mom's condo it was on Redfin but it was put on a bunch of other sites too. Sites now have robots that put the real estate on many sites.
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Old 04-20-2015, 12:59 PM
 
Location: Chicago
3,260 posts, read 4,505,593 times
Reputation: 3990
Quote:
Originally Posted by chet everett View Post
I will be blunt: In the general Chicago market you would be missing out on WAY TOO MANY buyers that have NO IDEA what Redfin is if you do not use a TRADITIONAL REAL ESTATE BROKERAGE. The stats in other places may not be so dominated by traditional brokerages, but here there is barely 10% market penetration for the "online only" brokers COMBINED -- seriously Trulia, Zillow, Redfin might be fine in some area where everybody does lots of online business but that AIN'T THE DEAL in majority of Chicago itself nor is it the case in ANY suburbs. Sure some people do "shop online" but when it comes to the numbers of CLOSED SALES the traditional firms (ReMax, Coldwell Banker, Baird & Warner, etc) have such a HUGE lock on the market you'd really be missing out.

And FEES ARE NEGOTIABLE, nearly any decent real estate agent will tell you UPFRONT that if limit the commission to smaller number you just will not get as much activity from cooperating brokers. It is simple math -- if an agent can make more money on similar priced home with better commission they will spend more time marketing those homes!
You do realize that Redfin still puts their listings on the MLS, right? They are visible to every broker, just the same as if a traditional broker listed the home for sale.

Also, Redfin has a physical office in Schaumburg.

Last edited by nikitakolata; 04-20-2015 at 01:39 PM..
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Old 04-20-2015, 01:47 PM
 
3,783 posts, read 5,528,400 times
Reputation: 2084
Yup nothing wrong with Redfin.
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Old 04-20-2015, 04:28 PM
 
1,243 posts, read 988,499 times
Reputation: 1977
I've done several deals with them. Their agents are just as plugged in as any other, some good some bad. Read their reviews, see how many deals they've done.

Lol at TRADITIONAL BROKER!!!!! Most buyers research on their own and call a Realtor to get them into homes and help negotiate. RE agents are scratching at a dying model.
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