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Just do a For Sale By owner and sell it yourself. As far as Redfin (and other discounters), from what I see they don't maximize your sales price like a real Broker might do. Many of their listings could get more money with better marketing and experienced agents.
Redfin is an exception to the discounter stereotype.
Where I am, they actually do more than the typical "real broker" by providing professional photos and even 3D virtual tours.
"maximizing sales price" makes it sound like "real brokers" have some magical powers.
A home just needs to be priced right and easy to show to maximize sales price.
Do you have examples of Redfin selling homes way below market value?
and how are you sure they could have gotten more money?
Presumably, they received a bunch of offers, and that's what they had to work with. If it ended up selling for a little less than a comparable home, that doesn't necessarily point to poor marketing and inexperience.
Working with a client over the weekend trying to buy a nice area condo between $150,000 and $200,000. Made an offer a few thousand over list, Lost. The listing is three days old.
Got a friend who has a wondrous house in a superior location. Unfortunately the house is vastly superior to the neighborhood it is in and is quite expensive as well. The listing has been worked for 10 months now without a sale.
So in this situation it would appear to me I could list and sell 30 or 40 $150,000 condos for the same time and effort my friend has put into one $800,000 home. So why would everyone think the $800,000 home should get a lower commission.
I of course note that finding 30 or 40 of the suitable condos may be difficult...but the ratios work even for one.
I see no problem throwing rocks at Redfin the concept. And particularly pointing out they don't really offer what they claim. You have to get into the details to really work the model. And note the model has changed over time. Yesterdays and todays are quite different.
The most interesting thing I see are the 1% listing agents. I have had a recent dealing with one and they simply did not do anything right. And it is unclear what they have actually agreed to do...I think some of these operators are trying to make it work by manipulating the system to end up with a much higher than normal dual agency. That is they use their system to cripple the response to other agents while pushing their own buyers agent contingent. Maybe our OP needs to find a local discount guy and ride with him. If higher end sales are that simple should work out fine.
Redfin is an exception to the discounter stereotype.
Where I am, they actually do more than the typical "real broker" by providing professional photos and even 3D virtual tours.
"maximizing sales price" makes it sound like "real brokers" have some magical powers.
A home just needs to be priced right and easy to show to maximize sales price.
Do you have examples of Redfin selling homes way below market value?
and how are you sure they could have gotten more money?
Presumably, they received a bunch of offers, and that's what they had to work with. If it ended up selling for a little less than a comparable home, that doesn't necessarily point to poor marketing and inexperience.
In a Seller's market, too many agents ride the wave. not worth the 3%.
"Redfin" is a corporation, not an individual broker nor a Realtor. They're also brokerages in the markets which they operate - which is numerous but nowhere near nationwide. If Sue Smith, Realtor in San Francisco says "Jane Jones of Redfin is a bad Realtor" - that's pretty clear. It gets grayer - based on what we know - if Sue says "Redfin is a bad brokerage". If Sue Smith, Realtor in Alaska (which has no Redfin agents/brokerage) says "Redfin is a bad brokerage" - is that a violation?
I'm not saying it's a nice thing to say or the way for a professional to conduct themselves; I'm wondering whether it's a violation of the Code of Ethics.
OK, I understand the point.
I'm not qualified to interpret the finer points of Article 15 but to my eyes, it's pretty clear that all your scenarios would be dangerous ground. The wording is pretty clear to be about all real estate professionals, not just ones considered direct competitors. And it mentions "their businesses" which means beyond just a specific named agent. I would not want to defend on these grounds in front of an ethics board.
Actually, from some casual reading it seems that ANY unfounded claims or comparisons against other RE professionals could be dangerous - even unfounded claims like "best agent" because it means all others are "worse". I suppose that's fine if you have some measure to back that up (and are prepared to defend it) but otherwise can be dangerous. Anyway, what we saw leveled against Redfin on this thread is far beyond that.
How do I list with multiple brokers? Would they be willing? I only ever see a single agent or broker's sign in a yard.
One good broker working for you (exclusive right to sell) is typically going to be better than multiple brokers not working for you. (exclusive listing/open listing)
Go interview about 5 agents and hire the best value, which isn't always the lowest commission (but it might be).
Well, you tend to get what you paid for. So if you're paying $50K in realtor fees, then you're not selling a $250K house. You want someone who knows what they're doing and get a deal closed. Again, you get what you pay for. FSBO doesn't work well for many people. It's a lot of work. But hey you'll save some money IF you sell the house and get through closing.
Hire an independent broker who controls costs and doesn't charge you for giving money to a broker or an out of state corporate franchisor who provides no value while demanding a cut.
Can you expand a bit on this? By independent broker, do you mean someone who is not affiliated with a chain (e.g., Century 21, Re/Max, Berkshire Hathaway, etc)
The most interesting thing I see are the 1% listing agents.
I tried a 1% agent on a nice house. 4 months later all I had had were a couple low-ball offers from people who wanted to buy inside an LLC with no assets and with me taking back a note. I cancelled the listing.
A few months after that, I listed with a full service broker (Berkshire Hathaway) with an offer at 10:00 am on the day it listed which we accepted.
Hire an independent broker who controls costs and doesn't charge you for giving money to a broker or an out of state corporate franchisor who provides no value while demanding a cut.
Quote:
Originally Posted by SportyandMisty
Can you expand a bit on this? By independent broker, do you mean someone who is not affiliated with a chain (e.g., Century 21, Re/Max, Berkshire Hathaway, etc)
Can you expand a bit on this? By independent broker, do you mean someone who is not affiliated with a chain (e.g., Century 21, Re/Max, Berkshire Hathaway, etc)
Most offices are independently owned, franchised or not. Some offices, franchised or not, dictate the terms of business to their agents and some do not. You would need to meet with some agents to see what they can do.
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