Redfin - Anyone use them? (Denver: short sale, real estate, condo)

[GuitarPlayr]

Just curious if anyone has any experience using Redfin? Apparently they are new to Denver but I like what I have read so far.

I was working with a real estate agent and just basically closed the door on that situation. I am finding that we were doing all of the leg work and they were basically unlocking the doors for us.

I just looked at a few houses yesterday with one of the Redfin agents and this guy was great. He took the time to explain a few different things to us that we were not aware of with a few houses. So my initial impression was pretty favorable.

So has anyone used them here or in one of their other states?

[2bindenver]

The unlocking doors is my least favorite part of the home buying process. I can usually pinpoint an area, or a style based on my initial consultation appointment.

But when a buyer chooses the ONE to make an offer on, that's when I earn my fee. I point out the pluses and minuses, I research the comparables to make a winning offer. I explain a few strategies, depending on who owns the home and what is most important to the buyer.

Sometimes things go hinkey from there, there are inspection issues, title, hoa, survey, appraisal, and even underwriting.

Redfin prides itself on strong customer service. Ask about the home buying process. Who writes the offer? how much experience? who takes it from there? How many people will I working with?

In searching Denver MLS for how many properties SOLD by RDFIN - ZERO (0) came up - that Residential, Condo, Income, Land...

I don't work with customers, I work for clients.

[cowboyxjon]

I don't think there is anything wrong with giving it a try and I think 2bindenver makes a few great points. While it seems like Redfin hasn't yet sold anything in Denver, I think the questions that 2bindenver mentions are important to ask before you get too far along in the process.

I worked with two realtors when I bought my home. I felt like the first relator I worked with didn't listen to me. I felt like he kept trying to steer me toward homes that were in a neighborhood that I mentioned many times that I was NOT interested in (North Park Hill) and I also felt like he didn't listen to what I was looking for in a home and instead sent me listings that were right at the top of my price range. What sealed the deal was when I found a home I wanted, but he tried to discourage me because it was a short sale. Really, I think he tried to discourage me because it was well below the top of my price range.

My second realtor was much better. He worked with me on the short sale and was a godsend throughout the process, even though his commission wasn't very much, since the home wasn't priced very high to begin with. Honestly, I couldn't have done the purchase without him. But, as 2bindenver mentions, there is a lot more to the job than just opening the doors.

Hope this helps, at least a little bit!

[GuitarPlayr]

Hey 2bindDenver - Appreciate the comments from the realtors perspective. I can imagine Redfin coming into the Denver market has realtors on edge a bit. If I were a realtor, I would be nervous. There are so many sites that discuss the 6% commission and how it makes no sense and I have to agree.

But the majority of items you have pointed out can be done online now. You can find comps sold on many sites and get a ballpark figure based on many factors. Offers come from the buyer not the realtor. Yes the realtor can make suggestions based on experience but in the end, the buyer makes the decision of what to offer since it is their money. In my experience, it is typically lower than what the realtor suggests.

Every story is different with a seller. Research comes in to play to determine the offer. Someone selling their home for 100k more than the comps who has a few refi's is probably hoping for a sucker to come bail them out of their troubles. Someone else who has been in the home for 20+ years with no refi's and is close to the comps will probably take a lower offer to move to their retirement home in Florida.

Redfin has licensed realtors/brokers obviously. They could not sell without having these people on board. In my conversations with them, they do everything a realtor does but are on salary. I could have them show me a house and have another realtor come in and sell it to me. No contracts so I can walk away whenever. It makes me wonder if realtors will begin lowering their fees to stay competitive.

I am curious to hear from others. Once I do buy I will let everyone know how the process worked for me. I have nothing against realtors and I know many. I just find that the majority of this can all be researched online. I just need someone to write it up for me in the end.

[2bindenver]

I want you to know I am a real estate Broker with 22 years of experience. This is my life and my livelihood. I am the managing broker for my firm.

You do not know what you don't know.

Do not think for one moment your experience with this brokerage will be anything exceptional.

If they have not sold one house in Denver, why would you like to be the first?

[apa1128]

I havent used them, but their app is what I use to search real estate. It's a great app!

[GuitarPlayr]

Originally Posted by 2bindenver

I want you to know I am a real estate Broker with 22 years of experience. This is my life and my livelihood. I am the managing broker for my firm.

You do not know what you don't know.

Do not think for one moment your experience with this brokerage will be anything exceptional.

If they have not sold one house in Denver, why would you like to be the first?

How in the world would anyone want to use a realtor overcoming objections in this fashion?

Originally Posted by 2bindenver

If they have not sold one house in Denver, why would you like to be the first?

Yes this sways my decision 100%. Those poor bastards that were the first to use Google, Apple, Microsoft and even invest in them. What a bunch of morons.

Originally Posted by 2bindenver

Do not think for one moment your experience with this brokerage will be anything exceptional.

My previous experiences with realtors was anything but exceptional. Do I base all realtors as being inept based on my past experience?

Originally Posted by 2bindenver

I want you to know I am a real estate Broker with 22 years of experience. This is my life and my livelihood. I am the managing broker for my firm.

You do not know what you don't know.

Mailman have been delivering mail for hundreds of years but technology is is changing the way we do business today. Not many people mail a letter these days hence why USPS is broke. Then we have the wonderful music industry that is now pretty much a joke because of the internet. Recording contracts are almost a thing of the past.

My point being here is that just because something has been done in a particular fashion for many years does not mean they are going to last in today's market. You either adapt to the changes or you fade away. Redfin, from what I can see, is taking advantage of this and apparently has been quite successful in other states.

[2bindenver]

They started operating in February and have 4 licensees, two added in August.

Real Estate is not like a letter, or a plane ticket, or a stock certificate.

I don't have to overcome any objections. I enjoy the competition. Not many brokers can equal my education, experience or years of service.

Refin is just another real estate company competing for your commission dollars.

The MLS search is not correct. I searched specifically for one agent and came up with 5 sales since February.

I have an idea, but I need another cd poster to play judge. GP go ahead pick a property - any currently on the market - do the research and send a message to the designated judge, I'll do the same, - let's see who is the closer of the two of us to the sold price.

[Ted Bear]

Originally Posted by 2bindenver

I want you to know I am a real estate Broker with 22 years of experience. This is my life and my livelihood. I am the managing broker for my firm.

You do not know what you don't know.

Do not think for one moment your experience with this brokerage will be anything exceptional.

If they have not sold one house in Denver, why would you like to be the first?

And the typical experience with an established Real Estate Broker is exceptional how?

In my humble opinion, and limited experience having bought and sold only four houses in my lifetime, the current real estate experience leaves a lot to be desired. I don't think most realtors understand that the public perceives realtors to be down there in the muck with lawyers when it comes to people with whom you can enjoy trust and confidence. Yes, i am sure there are excpetions, but a firm that can improve on the experience can surely carve out a substantial niche for themselves.

[bmw335xi]

Originally Posted by GuitarPlayr

Just curious if anyone has any experience using Redfin? Apparently they are new to Denver but I like what I have read so far.

I was working with a real estate agent and just basically closed the door on that situation. I am finding that we were doing all of the leg work and they were basically unlocking the doors for us.

I just looked at a few houses yesterday with one of the Redfin agents and this guy was great. He took the time to explain a few different things to us that we were not aware of with a few houses. So my initial impression was pretty favorable.

So has anyone used them here or in one of their other states?

I used Redfin in California. I loved them.