Redfin: Friend or Trend?

Redfin: Friend or Trend?

Whether you spend hours in front of the television daily or only a matter of minutes to catch the news each week, you have probably experienced the latest Redfin commercials.  You might even be tossing around the idea of using Redfin to sell your home.  While Redfin has many full-service agents on staff, there are pros and cons to utilizing a website to sell your home versus a full-time, in-person experienced realtor.

PROS:

1. – Savings.  Redfin pays their own agents a flat rate and not a commission-based percentage.  Therefore, home sellers might pay only three percent in commission to a buyer’s agent versus the normal six to seven percent paid to a listing brokerage/selling agent.  However, it is important to remember as you continue reading that you get what you pay for.

2. – Refdin boasts a rather well-designed search engine for real estate shoppers, however, the website is not updated up to the minute.  Redfin also utilizes helpful data in the listings such as local pricing information, school district information, and notes from realtors who might have previously visited the specific property you click on.  

CONS:

1. – A full-service agent who is familiar with your neighborhood or the one in which you hope to reside will have a much better understanding of the market, current pricing, strong sales strategies, and firm handle on acceptable negotiations and perks.  While Redfin boasts impressive data platforms, your Arizona agent isn’t going to have as strong a handle on your Jacksonville neighborhood.  

2. – Real estate professionals thrive on building relationships with fellow realtors just as much, if not more, as they do with clients.  Redfin agents will be unlikely to have relationships with other realtors within your zip code who might know of homes that will be listed soon or buyers who are interested in purchasing within your neighborhood.  Furthermore, a local agent who has worked to maintain strong relationships with colleagues will know what didn’t sell last year in the neighborhood in which you’d like to live.  That same agent will reach out to see if last year’s seller might be ready to sell this year to you!  Unfortunately, you won’t get that kind of service from Redfin.  

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Phil Aitken, Owner/Broker
Phil Aitken is the Owner/Broker with Your Home Sold Guaranteed Realty - Phil Aitken Home Team and has over 13 years of Real Estate experience. Phil’s faith and desire for his family’s continued security fuel his business growth and leadership. The Phil Aitken Home Team continues to profoundly impact the people of Jacksonville via supporting several faith-based organizations. Phil gives back a portion of every real estate transaction to The Tim Tebow Foundation and Rethreaded. Find Phil's full story here.