I used to work at a property management firm here in Denver as a licensed leasing agent and recently left for another job. My current job is not in real estate so I don't have my license hung anywhere at the moment.
I have been looking into becoming a Redfin Associate Agent. I wanted to see if anyone here has had experience working for Redfin and had any feedback on them.
I have technically been accepted into the Associate Agent position, and I'm leaning toward taking it and doing showings on evenings and weekends. The position is very flexible and gives me a chance to stay active in real estate - through my husband and I invest out of state so I'm not totally uninvolved.
@Katie Fiola Jones so just be clear, investing is very different from acting as an agent. In reality, being a buyers agent is low pay and lousy hours. You should read Gary Keller's book the Millionaire Real Estate Agent if you want to practice agency. There are better (more profitable) ways to "stay active in real estate" than to do showings for a discount brokerage.
Finally, probably 95% of all the local real estate agencies would "hire" you. Real Estate is sales, you eat what you kill, so it's no skin off their nose if you don't produce.
You can make more money working at Walmart. I dont really get why anyone would want to work there?
You can hang your license in most brokerages with little to no fees and just build a passive referral business. You're still having active real estate conversations with people without doing the grunt work of being a showing agent.
If you calculate the amount of time, inconvenience, expenses, I don't think being an associate agent would be a good ROI move on your part.
Actually, Redfin is a little different. In the Associate Agent position, you get paid per showing, open house, etc. So it's not a commission based position.
And I definitely understand that investing is very different than acting as an agent. I guess the reason I am considering it is because it is a way to stay somewhat active in the market here in Denver, while at the same time earning some extra money!
To your point about Walmart, the reason I wouldn't want to take a job at any kind of retail and would rather work at Redfin is that you get to set your own hours.
Hi @Katie Fiola Jones !! I am so glad to hear that you got the AA position with Redfin!! I have been an associate agent with Redfin since last fall and I love it!! I am a duel careered REALTOR and I love my other career so I wasn't interested in becoming a REALTOR full time. In all honesty, I became an agent years ago to learn how to be the best investor I could be. I started at a small property management company, then moved cities and started working as an independent agent with KW. I love KW. I have read all of the Keller Inc books and believe in the models and systems. However, I just didn't have the time I wanted to devote to my career as an independent agent, a landlord, a therapist (my other profession), my family and achieve all of my other goals. Redfin has changed the game for me! Honestly, the pay is great and the stress of doing transactions is gone! Now I get to meet and help people while staying involved in the real estate community. Feel free to message me about it. I am happy to help!! And the pay is actually quite good!! I hope you took the position!!
Hey @Michelle Bright
I really appreciate your feedback! My story is similar to yours - in that I started out in property management and did that for almost 4 years. I learned that I don't like dealing with tenants haha! But I love real estate and I loved being around the real estate community.
I'm really excited to hear your positive feedback about the position. I did end up taking it and I have gone through the online training, I just have the in-person orientation left and then I can really get started!
@Katie Fiola Jones That is great!!! I am so excited for you!! I hope you love it. It just makes a lot of sense for agents that have multiple careers and obligations. The amount I am making from Redfin is all going in savings for our next property and I have made thousands already since January. It has really accelerated our savings! It's going to help us with the downpayment on an investment property in Chicago which I should say is not a "cheap" market. Go make that money honey!! Congratulations!!
That is pretty much our plan for the money I make from Redfin! We're saving for our next investment property.
Thanks again for your encouragement!
I’ve been an Associate Agent with Redfin for a little over a year and overall I love it! They make sure you go into it with the understanding that no amount of money is guaranteed but for me it’s been a great source of “extra money” and, like you said, a way for me to stay involved with my local real estate market and learn and have access to resources that may be helpful to me in the future. It is virtually a stress free role and becomes easier and easier the more you do it. The lead agents in my market are awesome to work with, although I suppose that may not be the case everywhere. You have complete control over when and where you are willing to work. Depending on your availability you can easily show TONS of houses so you definitely stay somewhat knowledgeable of your market (and make $$$). Also- it depends on price thresholds for your area but I never show anything priced below $200k and often much much higher so you get to see a lot of really beautiful homes!
Thanks for your feedback! I did end up accepting the position and I am in training right now. I'm excited to get started.
Do you hang your license with Redfin? I am confused on how that works.
Yes as an Associate Agent you would hang your license with them.
A couple of thoughts from a curmudgeonly old home inspector re Redfin and R.E. sales in general.
1) Judging from your excessive use of exclamation marks you're a natural for real estate sales!!!! Just teasing KFJ.
2) Redfin agents should, in general, be working with buyers who are doing their own due diligence and who are super savvy. Since as a Redfin agent you are more or less on call for showings and inspections the buyer may deal with a slew of different Redfin peeps during the course of their home search/purchase process and that 'cradle to grave' experience and helicoptering that is typical of many buyer's agents is not really the Redfin model.
3) I have worked with Redfin agents since pretty much the first day they showed up in Chicago from Seattle. They started out all touch-feely NW coast grungy and have over the last 10 years or so morphed into just another dog eat dog R.E. company. The agents like to stick their noses in the inspector's business and refuse to 'stay in their lane' during and after the inspection just like so many other control freak Realtors(tm)!!!!!
4) As far as the fantasy about 'setting your own hours'....good luck with that. You have to be ready to show up when the buyer needs you although, if you're not very concerned with keeping busy, you can just set hours and hope that they get filled.
5) I really wish you the best of luck in your new career and please ignore my cynicism....you'll do great!
Thanks so much for your insight Daniel. I really appreciate sort of an outsiders view of the company after working alongside them for a while.
The Associate Agent position is different than being a full-time agent for Redfin. I think in the Agent position you would expect to work more hours. However, in the Associate Agent position, you are more of a contract worker for Redfin, so you do actually set your own hours and regions where you can work. And you don't close deals, you basically just do the showings for the clients. So there isn't a lot of followup work for you as an Associate Agent.
I'll try it out for a while to see how it goes!
@Katie Fiola Jones , would you mind letting me in on the pay structure? I know it varies by market, but curious what you get for each type of job you do. I am considering going the Redfin AA route so that, like @Michelle Bright , I can keep my day job but still be involved in real estate and apply my learned knowledge toward both my investing and design companies.
I started out as an AA while working a full-time job and only doing showings and open houses on the evenings/weekends. While doing that, I was making probably $400 to $900 every 2 weeks. Again, it depends on your market and what they are paying AAs. When I was going through the application process, they sent me the pay schedule for my area so that I knew what to expect. I'm sure they would do the same for you.
I recently started working with them more full time because it is all contract work. So I get to determine my schedule now. It gives me the flexibility to do Redfin events while choosing when I spend time working on our investing as well as our blog.
So, I get that you hang your license with them. Are you able to still conduct actual real estate transactions? Or are you just a showing agent?
They don't allow you to conduct real estate transactions.
Redfin hires AAs as independent contractors to help with showings, inspections, open houses, and other tasks.
I know the AA is not a contract writing agent but what if you have a friend of family member that would like you to sell or help them find a home. Do you get any additional commission for referrals ?
Yes, there is an opportunity to get a referral for that!
@katie fiola jones so now that it has been a bit .. what is your thoughs on redfin? how was the experience as aa and now as a fulltime agent?
@Katie Fiola Jones I am hoping to start doing this soon. Are you still working as an AA?