RedFin.com/about/one-percent-listing-fee

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RedFin.com/about/one-percent-listing-fee

Neil G.
Investor · Socal · Member since 2015 · 222 posts · 34 votes

so i contacted a redfin agent via text with the above link and the address of a DC area relative who's thinking of selling and asked me to research, only to receive a call back from Redfin (not the particular agent i texted) saying sorry if you're looking for that offer, we dont have agents available to help you since they're all working at 'full capacity' now during 'peak season'

i then contacted another redfin agent via text with the above link and the address of a NVA area relative who's s thinking of selling and asked me to research, only to receive again a call back from Redfin (not the particular agent i texted) saying sorry that offer is only for specific addresses within NVA and we don't have agents available to help you since they're all workin at full capacity now durin peak season yada yada.

my relatives' reactions were of disbelief and bewilderment, respectively. dont know of any other discounted brokerage brands servicing prince william nor wash dc county; they're looking to save on commission as selling below market val to get out before the proverbial next bubble burst or us collapse

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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
10y

Save 1-1.5% on the commission and cost yourself 5% or more on the sales price, or not have it go through since Redfin has no idea what they are doing. There are 3 primary problems with using Redfin. 1) They have no idea what they are doing..they often misprice properties, do not know how to compete in a competitive market. 2) Many people in the market place view properties as being listed by Redfin as being poorly maintained. (This is often true). If they dont want to pay to properly list the property, why would the seller pay to maintain the property. 3) Some agents wont show their listings, so less people seeing the property typically means a lower sales price.

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    Save 1-1.5% on the commission and cost yourself 5% or more on the sales price, or not have it go through since Redfin has no idea what they are doing. There are 3 primary problems with using Redfin. 1) They have no idea what they are doing..they often misprice properties, do not know how to compete in a competitive market. 2) Many people in the market place view properties as being listed by Redfin as being poorly maintained. (This is often true). If they dont want to pay to properly list the property, why would the seller pay to maintain the property. 3) Some agents wont show their listings, so less people seeing the property typically means a lower sales price.

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    2Reply
  • Neil G.
    OP
    Investor · Socal · Member since 2015 · 222 posts · 34 votes
    10y

    how do they get away with such operations, i mean for example, in the eyes of the VA and/or DC Real Estate Departments, luring in potential clients publically with the above link and then giving the run around that 'if you're looking to list with us at the discounted rate we have a web page set up for, sorry we're not taking any more listings in your area'?!

    as for the quality of their service (that Brazil expands on) given the above experience thus far, indeed i would not be surprised! 

    so much for the first words on the above page: 

    Get Full Service for a
    1% Listing Commission

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    How do they get away with it? I dont think its that hard. Any company that loses hundreds of millions of dollars per year doesnt exactly care if they piss of their customers.

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
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  • Ross Greene
    Real Estate Agent · Las Vegas, NV · Member since 2015 · 97 posts · 28 votes
    10y

    As @Russell Brazil pointed out, Redfin agents are not the best agents and that is usually because they are paid salary. Regardless if your home sells or not they are receiving a very low salary. At least here in Las Vegas. A partner agent of Redfin is a different story.  

    Redfin has been changing their models around a lot lately including they used to rebate the customer 15% of agents commission back at closing and decided to do away with that. This was for partner agents. This leads me to believe they are struggling and trying to find a model that works.  

    I have noticed they have become less customer oriented and more how can we put more money in our pockets oriented. 

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