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Quick update - I closed recently on a house. I can strongly recommend Redfin as a buyer's agent as long as one is: sufficiently skilled with the internet & financial research, knowledgeable about the area(s) where one is looking for a home, and willing to do most of the work to support one's home search. I received a commission rebate equal to about 1% of the purchase price and was very happy with their knowledge, support and resources. Thanks to everyone who provided helpful advice.
Quick update - I closed recently on a house. I can strongly recommend Redfin as a buyer's agent as long as one is: sufficiently skilled with the internet & financial research, knowledgeable about the area(s) where one is looking for a home, and willing to do most of the work to support one's home search. I received a commission rebate equal to about 1% of the purchase price and was very happy with their knowledge, support and resources. Thanks to everyone who provided helpful advice.
I haven't read every post on this thread, but I'm wondering what Redfin did for its commission. Also, I am engaged in two transactions where the negotiation skills and contacts of the agents are proving critical. I doubt Redfin agents have this capability. I have looked at the Redfin listings and it sometimes appears as if the company just assigns any warm body to the listing without regard to knowledge of the area. I think there are times when a cookie-cutter approach may be fine, but I consider myself fortunate to have two knowledgeable agents on my case. I am gaining a better understand of how they earn their money.
I am looking to purchase a house in northern Nassau county. I'm targeting just one or two school districts and doing lots of research online. There is very limited inventory in my price range and targeted area, so there are less than a dozen houses I want to see. My price range is well above the average house sale price in the county and I am very likely to buy in the next 6 months.
Considering my situation (which should be highly attractive to an agent), I would like to find a competent and experienced buyer's agent who is willing to provide us with a substantial commission rebate or apply part of their commission to closing costs. If the purchase price is multiples of the average and commissions are a percentage of this, it seems to me that an agent could rebate 50% or more of their commission and still be very well compensated for their time and expertise.
Is this line of reasoning sensible? Ideally I would like to sign an exclusive buyer's agent agreement with someone with these terms spelled out in advance of starting to look at houses. Will I be able to find someone who is competent and experienced and flexible enough to do this? If anyone has a recommendation please feel free to share it with me. It would be very helpful in advance of calling or emailing dozens of agents.
Thanks in advance!
redfin.com is exactly what you want, every home on MLS is on it and Redfin gives a check aka rebate to buyers at closing
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