Redfin Does in Their Client Again (buyer's agent, listing, sellers, loan)
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Got a cash buyer interested in a Redfin listed home. On the market a day...around $500K.
Called the Redfin agent as the house was good enough for heavy activity. Wanted to know how they would handle it and tell them we were going to offer.
No response from the Redfin Agent. Got the offer together crack of dawn this morning. The listing went contingent at 8AM for conventional loan and 30 day escrow. Would have had an unhappy buyer but we warned them that Redfin might well do what they did.
the real loser is likely the Redfin seller. We would have offered list and might well have gone past it. And we would deliver anything up to and including a two week close. I would think there is no likelihood any conventional deal could get to list due to the appraisal. Best house in the neighborhood and very hard to see a way to the list anymore above list.
And that is the Redfin problem. Their system is basically impenetrable. No one is in charge. The listing agent basically does that and then vanishes and they assign the other stuff throughout the work group. So here the seller likely lost at least a few thousand and a very clean deal.
Any regular brokerage would have been all over me...but Redfin cannot even return the phone call.
Got a cash buyer interested in a Redfin listed home. On the market a day...around $500K.
Called the Redfin agent as the house was good enough for heavy activity. Wanted to know how they would handle it and tell them we were going to offer.
No response from the Redfin Agent. Got the offer together crack of dawn this morning. The listing went contingent at 8AM for conventional loan and 30 day escrow. Would have had an unhappy buyer but we warned them that Redfin might well do what they did.
the real loser is likely the Redfin seller. We would have offered list and might well have gone past it. And we would deliver anything up to and including a two week close. I would think there is no likelihood any conventional deal could get to list due to the appraisal. Best house in the neighborhood and very hard to see a way to the list anymore above list.
And that is the Redfin problem. Their system is basically impenetrable. No one is in charge. The listing agent basically does that and then vanishes and they assign the other stuff throughout the work group. So here the seller likely lost at least a few thousand and a very clean deal.
Any regular brokerage would have been all over me...but Redfin cannot even return the phone call.
What makes you think the offer wasn't accepted before yours was in?
So offer a backup, Maybe the seller said to accept the first full price offer.
That would be sufficiently rare as to defy description. Any competent agent would certainly have let the thing run through the first weekend before accepting any offer. Another place Redfin falls down. There is no one who is thinking.
I could send a backup offer but my client is not in a position to wait. So if I offer one it probably is executable for three days at best.
I'm sorry, but this directly has nothing to do with Redfin ...
Unfortunately, if I had $100 for every time a Listing Agent knew good and well my clients were making an offer, but instead accepted a different offer without informing me there was even an offer in play, then I would have a larger savings account, and many fewer Buyers wondering WTF those agents/sellers were thinking.
It's rather amazing that in many cases, you can make it so the Seller doesn't see the feedback, and even sometimes the appointments being set.
It's gotten to the point that I have to tell Buyers "I don't know this listing agent. They could have taken an offer 5 minutes ago and I wouldn't know."
On Redfin, I've certainly had times where their agents "check all the boxes" of the base score of representation, but they didn't sell the house or get the house.
I'm sorry, but this directly has nothing to do with Redfin ...
Unfortunately, if I had $100 for every time a Listing Agent knew good and well my clients were making an offer, but instead accepted a different offer without informing me there was even an offer in play, then I would have a larger savings account, and many fewer Buyers wondering WTF those agents/sellers were thinking.
It's rather amazing that in many cases, you can make it so the Seller doesn't see the feedback, and even sometimes the appointments being set.
It's gotten to the point that I have to tell Buyers "I don't know this listing agent. They could have taken an offer 5 minutes ago and I wouldn't know."
On Redfin, I've certainly had times where their agents "check all the boxes" of the base score of representation, but they didn't sell the house or get the house.
Of course it does. Redfin does not respond. I pointed out to my client they well might not...and they did not.
Yes other agents screws around sometimes. And should be chastised for it. But most answer their phone. Not true at Redfin.
Of course it does. Redfin does not respond. I pointed out to my client they well might not...and they did not.
Yes other agents screws around sometimes. And should be chastised for it. But most answer their phone. Not true at Redfin.
I'm not defending Redfin as I have absolutely no interest in doing so. However, it's interesting that you are attributing this experience to Redfin overall.
Like saying Keller Williams does not respond. RE/MAX does not answer their phones.
I agree with Bo that this is not uncommon. You lost the deal for your buyer. Live with it and do better next time. Can't win them all. Blaming others for not returning your phone calls reflects poorly on you. As Redfin grows their market share in your market, it's good for buyers to know that you cannot work effectively with them for whatever reason and perhaps they should consider this when choosing a buyer's agent.
Of course it does. Redfin does not respond. I pointed out to my client they well might not...and they did not.
Yes other agents screws around sometimes. And should be chastised for it. But most answer their phone. Not true at Redfin.
Cannot single out Redfin.
This is common beyond belief with too many agents.
Wow. just_because, BoBromhall and MikeJaquish all agree on something! Faced with such unanimous dissent across party lines, I think lvmensch should reevaluate his/her position.
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