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Old 01-11-2018, 09:49 AM
 
126 posts, read 144,194 times
Reputation: 350

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I have not personally sold a house with Redfin, but a friend did and said it was a great experience and would do it again in a heartbeat. Theirs was a more expensive home and it sold quickly. I did use a flat-fee realtor years ago and again it was a great experience. No difference in service from a full-price realtor, but we did save thousands of dollars.

In this market, I don't know why you WOULD use a "full service" realtor to sell.
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Old 01-11-2018, 10:18 AM
 
245 posts, read 322,300 times
Reputation: 271
Thanks for all the replies.

The home is about 2 years old and I have no doubt it will sell quickly (barring some economic collapse in the next 4 months). We purchased the home new for about $425k in late 2015 and have added about 35-40k to landscape, custom blinds, etc. Based on comps it should sell in the $490k-505k range.

I think I will interview a PM recommendation at Redfin as well as a traditional agent or 2.

Again, thanks for the responses.
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Old 01-12-2018, 04:03 PM
 
Location: Just south of Denver since 1989
11,815 posts, read 34,303,497 times
Reputation: 8935
I had an appointment today with another seller and they asked about redfin corp. So together we looked up their stats in MLS:

They are just shy of 100 licensees in the state.

On average they have 30-35 active listings over the last year.

97.59% of list price to sold price in the last three months.
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Old 01-12-2018, 05:02 PM
 
Location: Aurora Denveralis
8,712 posts, read 6,684,266 times
Reputation: 13502
Quote:
Originally Posted by 2bindenver View Post
IOn average they have 30-35 active listings over the last year.
Each, or total?

Quote:
97.59% of list price to sold price in the last three months.
In some markets, that would be spectacular. Here - with maybe the winter/holiday months being anomalous - that's not very good. My understanding is that most houses go for list, or are bid up slightly. Even a 3% under average is a red flag, IMHO.
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Old 01-12-2018, 05:14 PM
 
Location: Denver
1,330 posts, read 693,491 times
Reputation: 1270
Quote:
Originally Posted by Quietude View Post
Each, or total?


In some markets, that would be spectacular. Here - with maybe the winter/holiday months being anomalous - that's not very good. My understanding is that most houses go for list, or are bid up slightly. Even a 3% under average is a red flag, IMHO.
Really depends. We got our house for roughly 3% under list. It was overpriced based on comps in the neighborhood. We ended up buying within a few $k of recent comps.

It's really hard to tell stats without comparing comps. Their strategy could be price high, settle lower rather than take the chance of being forced to take a lower overall price if they listed lower.

There's also psychology too. I felt like I got a good deal paying under list. Not sure how I would have felt had I paid 3% over list instead.

To be honest, the one house we bid on that had 20+ bids was frustrating. It became luck of the draw because it was so underpriced.
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Old 01-12-2018, 06:54 PM
 
Location: Highlands Ranch, CO
556 posts, read 758,663 times
Reputation: 848
Everyone I know who has used redfin on either a buy side or seller side has had nothing by positive things to say. Nothing personal to anyone here, but I wouldn't expect real estate agents to have glowing praise for a service that effectively makes them obsolete. It's like asking the head of a bank if they think crypto currencies are a good thing or not. They're going to have a slightly biased opinion. Good luck out there!
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Old 01-12-2018, 07:57 PM
 
Location: Arvada, CO
27 posts, read 25,984 times
Reputation: 54
My neighbor bought their house with Redfin and they are very happy. the only thing that really matters is getting it on MLS - I really don't believe that "agents" market your house any better than Zillow or Realtor - in the old days of picking up the homes for sale books at the grocery store - I would agree with a full service agent. Now with aggregate sites getting all the info from MLS, your buyer or seller is likely to have done their shopping on-line. Think about how brick and mortar stores are evolving - real estate is right behind them....FWIW
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Old 01-13-2018, 09:25 AM
 
Location: Just south of Denver since 1989
11,815 posts, read 34,303,497 times
Reputation: 8935
Real estate is a personal services business. Zillow & realtor.com are advertising vehicles, not real estate brokers.

Brokerages operate on a competitive cooperation model. We all use each others listings to help our clients buy or sell the property of their choosing.

The Seller chooses the level of service they want. So does the Buyer. Is there anything wrong with choice?

Redfin Corp has yet to make money. Most brokerages operate on keeping a quarter from each dollar they earn. In Denver, their 1% listing commission gimmick has not gained them market share.

A Company that cannot turn a profit cannot remain viable in the marketplace.

At the end of the day, we all have to bring enough money home to our families to eat, pay for shelter, heat, etc. Companies also have to earn enough to keep the lights on and innovate in a changing market.
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Old 01-13-2018, 09:45 AM
 
Location: Aurora Denveralis
8,712 posts, read 6,684,266 times
Reputation: 13502
Quote:
Originally Posted by 2bindenver View Post
A Company that cannot turn a profit cannot remain viable in the marketplace.
Elon Musk would disagree.
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Old 01-13-2018, 10:25 AM
 
Location: Colorado
6,649 posts, read 9,201,779 times
Reputation: 8602
I worked with a traditional realtor to sell my townhome in Denver in 2015 and for me, his service was well worth the cost. The listing looked great, he put together a marketing plan, and pointed out a few things I hadn’t even though about it. I sold for quite a bit over asking (more than what I had ever expected) and had 10 offers to choose from. Yeah, it cost more than it would have with Redfin, but I was totally happy with the experience. Not trying to say Redfin is bad, but I also think the realtor I worked with put a lot of time and effort into ensuring that I received top dollar for my home. Yeah, the market was hot, but my listing looked great, had awesome photos, my house was staged amazingly well based on his and his colleagues recommendations, and I think all of that helped.

Also, on the flip side, as a buyer, he helped me to navigate a tricky situation when purchasing my current home (there were multiple offers), and we ‘won.’ Couldn’t be happier.
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