Any First-Hadn Experiences with I-agent, Redfin or other Discount Brokers in NOVA? (real estate)

[BMWZ4RUlz]

Thank you for your time.

Looking seriously at I-agent or Redfin for our next house and wanted to see if anyone had any personal experiences: good, bad or indifferent.

It looks like Refin credits to the HUD-1 and I-agent reports as income (the rebate as a buyer) if I understand correctly.

Thank you again for looking.

[boyd888]

I used I-Agent several years ago and had no issues. Realize that they are offering the rebate b/c you have to find the houses you want to see and be preapproved (not just prequalified) to go see places. by doing this they greatly reduce the huge amounts of time they waste on wishy-washy buyers. Other than that I worked with the same realtor the whole time and it no different than any other real estate transaction. I saved like $8K.

Redfin has moved much more towards the sell side of things. Their buying rebate is constantly lowered and is pretty poor - they don't even list it or how it's calculated on the website anymore.

Neither company reports the credit as income. If you are buying a home under $400K you won't save much as they have min commissions. Traditional agents will knock them b/c they take away from their real estate cartel monopoly pricing structure, but if you are familiar with the area and know what you want I think they are a great deal.

[Jon_In_NOVA]

I used I-Agent back in 2011 with no issues as well. Like Boyd888 said is exactly right, you do the heavy lifting on what you want to see and where. My agent while a great guy didn't offer much of an opinion/strategy/advice for the houses I wanted to put offers in on. What he did do though is all the back and forth negotiations. That being said I did receive over 10K in a certified check a few business days after closing. I was not not familiar with neighborhoods, savvy enough to research schools, taxes, specific demographics I would use a more traditional real estate service.

[sbs9]

I used Redfin to buy my current house in NoVA about 2.5 years ago.

All my previous realtor experiences were using full-service realtors with a commission kickback through a credit union or USAA.

I saved more money with Redfin, but it was a lot more hassle.

Right after we closed, I probably would have said I wouldn't use them again, but by the time I am shopping for a house again, maybe I'll be willing to give it another try.

I DIY just about everything; have bought and sold a few houses; trust my own assessment of my needs and the market better than most agents; am more thorough at inspecting a home than most home inspectors; don't need or want someone to help me negotiate, etc.

If you're like that, then it's just a trade of your effort against the money you save and you can do the calculation.

If you are hands-off, or new to homebuying, I would strongly recommend against using Redfin or a similar limited-service agent.