For a first-time homebuyer, Karen knows a lot. She knows the neighborhoods and the types of home she wants. She's been looking on the web for a while, but now she is ready to tour homes even though she's a little unsure about details of the process. Karen realizes that she can do a lot of the services that a traditional realtor provides. She can scout1 neighborhoods and search listings. She's comfortable finding2 homes. But Karen needs help where really matters, touring homes, drafting3 offers and getting the best deal. That's where REDFIN comes in. REDFIN is an online real estate4 brokerage. This means that REDFIN knows when homebuyers need the web and when they need a real person.
When it comes to the web, REDFIN puts control in Karen’s hands. The website has the same MLS listings as other realtors use and information that Karen can't find on other sites, like how long a house has been for sale, its last sales price and what it’s worth now. Karen uses REDFIN.com to find the home she likes, and then visits its open houses to check them out in person. With REDFIN's help, she can also tour homes
privately5. Once she sees them from the street, she gets through REDFIN.com to schedule a tour. She can schedule a tour of up to six homes at a time and the REDFIN agent opens the door for each one. When Karen finds her dream home, she knows it's time to work directly with the REDFIN agent. Here is how.
Karen starts the offer process on REDFIN.com. Getting started is easy and worry-free. She isn't committed to anything until she talks to one agent and signs the final paperwork. Once Karen sends an outline of her offer to REDFIN, Allie gets to work. Allie is Karen's REDFIN agent and knows the market well. She's local and has helped dozens of people buy homes. Plus, unlike traditional realtors who work for a percentage of the sales price, Allie gets bonuses based on customer satisfaction. This means Allie provides rock solid advice without sales pressure. To make sure Karen’s starting price and offer terms on target, Allie does some research on the house, and then talks to the
seller6’s agent about what the seller wants.
During
negotiations7, Karen is confident she will get the best deal. It's true. Compared to list price, REDFIN
clients8 pay an average of 4,000 dollars less than clients of traditional realtors. One reason is Allie isn't working for a
commission9, so instead of pushing for a quick sale, Allie's motivated to hold out for the best deal possible. Another reason is that she keeps Karen involved in each step. After the negotiations, Allie and her team work with Karen's lender and escrow agents to ensure an on time closing. In the end, Allie arranges for Karen to get the keys to her new home. Yeah!
And a nice surprise, a
refund10 on the purchase price of her home. Here's how it
works11.
On a home that’s sold for 500,000 dollars, a traditional realtor keeps three percent of the purchase price. This means 15,000 dollars goes to the realtor. Instead of keeping three percent or 15,000 dollars, REDFIN sends Karen a check for 2/3 of that amount within 10 days of closing. That’s a 10,000-dollar refund, tax-free. Karen uses the money to pay all her clothing cost and to buy furniture for her new home. Karen can see why REDFIN make sense. She was able to make decisions for herself in the beginning and then have a real person on her side when it mattered most.
Now she's thrilled with her new home and knows that she got the best deal possible with REDFIN. Karen's not alone. Over 1000 customers have bought a home through REDFIN and more than 95% will recommend the service to a friend.
REDFIN, a smarter way to buy a home.