Redfin is a discount real estate brokerage company that helps customers buy and sell properties easily. The company has more than 3000 realtors working for them. The company is operational in more than 100 markets. They are a full-service brokerage that commenced operations in 2004.
If you are considering working with Redfin, then you can go through our review. The review will tell you all you want to know about Redfin and its services. It will also tell you about the pros, and cons, and list the alternatives to Redfin.
Redfin Reviews – Features and Pricing
Redfin operates almost throughout the country making it convenient for customers to reach out to them. Being a discount brokerage, they help sellers and buyers to find brokers and agents at a discounted price. Customers can look forward to getting in touch with an agent who can offer them the solution they need at a lesser price.
Their work is similar to that of a regular real estate agent. Once you get in touch with them, they would list your property on the MLS and connect you to an agent. Their basic package comes at a listing fee of 1.5%, which is a discount on the regular price of 3%. They offer other services like professional photography, staging, 3D walkthroughs, open houses, and assistance during negotiation.
They have a premium listing package known as Redfin Concierge. They provide professional services like staging and house cleaning. The fee for this package is 2.5%.
Redfin Now is a service where the company buys houses for cash. Once you provide your details, the property is evaluated by the company. If their property meets your requirements, they will make you an offer and buy your home for cash. However, the price would mostly be lesser than the market price.
Redfin – Pros and Cons
It is time to look at Redfin from the point of view of pros and cons. Going through these pros and cons will help you get a comprehensive understanding of this website. This will help you make a decision on whether to go ahead with them or not.
The pros or benefits of working with Redfin are:
- They are discounted brokerage, which means you can get a discount. The discount or savings you get is of around 2%, which is a substantial amount. The savings in listing commission is the major benefit you get working with them.
- They use technology to the advantage of customers. Using their website is easy since it is user-friendly. It is an intuitive tool that helps you manage your listing effectively.
- There are many discount brokers in the market, but Redfin is a branded company with a good reputation. This makes it a good idea to work with them.
It is needed to look at the cons or limitations of Redfin. They are listed below:
- While other competitors like Houzeo offer free listing, Redfin does not. The basic service has a 1% fee. If you use their advanced packages, then the listing fee is 2.5%. This is a major limitation of their service.
- Redfin reviews indicate that customers are not very happy with the services, which is why they have a rating of 3.2/5, which is quite disappointing.
- The unpredictable quality of their agents is one of the reasons for the poor rating they have. Their partner agents may end up charging a higher listing fee leading to fewer savings.
- Their process is mostly manual and offline. This delays the process, unlike other websites that work very fast.
- While they advertise a 1% listing fee, there are issues. This is applicable only if you buy and sell with them. There are minimum fees applicable that vary from state to state. These are hidden charges you are not told about initially.
Alternatives to Redfin
Having learned about the cons of Redfin, you may be rethinking on whether to go with Redfin or not. In such a case, there are many alternatives to consider. We list out some of the alternatives you can consider.
Houzeo reviews show that the company has an excellent rating from customers. Their rating is 4.9/5, which is exceptional. Houzeo has a customer-friendly business model of flat fee MLS. When you avail of their package by paying $249 to $349, you will be listed on the MLS. This will help you save 3% commission, which is a substantial amount. Your listing is also displayed on other sites including Redfin.
Their Intelli List Management system allows customers to use the same technology that agents do. It allows you to manage your listing easily. Houzeo also has a mobile app that makes it convenient to manage your listing. They offer quick listing, which is yet another customer-friendly measure from them. They are definitely a good alternative to consider.
Zillow is a real estate company with a strong online presence. With more than 40 million users visiting the website every month, they are a strong player in the market. For FSBO, they allow owners to list without any charges. But this service is not displayed by default, and you need to search for it.
If you want to list on the MLS, then they charge a fee of 3%, which is standard. You may not be able to save much money. The biggest problem with Zillow is the customer service. Customers don’t seem to be happy with them, which is they have a poor rating of 1.5/5 on TrustPilot.
UpNest is an online real estate company that uses technology to help customers. When you list your details on the website, they will help connect you to agents. You will get proposals from agents, which you can review and then decide on. They have nationwide coverage. Their agent network is pretty good.
The problem is that working with them does not lead to much savings. There are issues related to customer service. Even though they have a decent rating, the inconsistent customer service is a problem with this website.