Redfin

 

3

9

Matt L.

Chicago, IL

11/8/2009

I just bought a condo with these guys in Wicker Park, and I worked with both Dario and Greg Whelan during the showing process and the Greg through the offer and (arduous) closing process.

First off, if you are familiar with agency conflict, you will, just like me, love their business model.  On the buy side at least, the agents are compensated based on customer satisfaction, not a straight commission basis.  This somewhat limits the incentive to close deals quickly at prices that are not the lowest the buyer could have achieved.  That certainly was my experience.  I scheduled around 25 showings, and through it all they were really patient with me and never pressured me to buy until I found a place I really liked.  I had already proved I was serious by getting pre-approved, a step you will also need to take.

Second, understand that using Redfin requires some involvement from your side.  You need to search using their kickass website, then their agents will set up a showing for you and you both do a walk through.  You also have to figure out what you should offer, and they will put together the offer for you.  The upside of this involvement is that you feel like you are driving the decisions and you'll get the Redfin Rebate - roughly half of the buying commission comes back to you, straight from the seller.  Now you can get those cellular shades you always wanted!

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2

22

annette f.

Chicago, IL

7/1/2009

My husband and I just closed on a condo last week after a very nice home-buying process using Redfin.  I heard about these guys on a 60 Minutes show a couple of years ago, and had been eyeing them to watch when they'd expand to Chicago.  Happily, they did so before we were ready to buy.

From the start, I love their service model.  I was able to stalk the MLS in my preferred location for months before we even began looking, so through that, I felt really educated and knowledgable about what was out there.  When we looked, Dario showed us around and was a fantastic advocate for us.  I felt like Redfin was always on our side, and wanted us to find a place we loved.

When that did happen, Mark Reitman was our guy.  He handled our negotiations, and although the eventual selling price wasn't *quite* where I wanted it, I felt like Mark did a really nice job representing us.  Extremely timely, conscientious, and straight-forward.  No BS pressure tactics or judgement.  

I love sales, bargains and coupons (ask my husband) so the rebate was total icing on the cake here.

If you're a hands on person and want to be involved in your home search process and then get a sweet piece of rebate pie at the end, go with Redfin .  If you're a sheep, stick with your mom's agent.

OH SNAP!

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Elite '09

64

303

Steve M.

Chicago, IL

2/20/2009

Redfin is breaking the mold for how traditional real estate buying AND selling is done.  They display their listings in a map format (that uses Google Maps as a base layer); something that really beats trolling through traditional list-format listings.  You can enter your search criteria, mouse over each icon for a "snapshot" of the property essentials, and then you can click on each property icon for more in-depth information.  

Because I'm looking to buy, I can only really speak to that side of their business model. In return for doing most of the legwork (YOU find the listings and YOU reach out to Redfin to see them -- they do all the rest), you get to split the buyer's agent commission w/ them.  Many real estate brokerages will only do this if you're a "friend of a friend" or something like that, but at Redfin, it's the norm.

In terms of the human element, I've worked with Mark Reitman and Greg Whelan.  Both are very well versed in the ins and outs of the Chicago real estate scene.  Both are quite approachable and willing to make room in their (often packed) schedules to show you the listings you want to look at.  

While I've not bought through them yet, I definitely plan on it when the right property comes along.  If you're looking to buy, check them out!!

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2

1

Jeremy L.

Oakland, CA

7/7/2009

Great service if you're buying a home.  Especially first-time buyers who want people to be responsive over the Internet.  

I also love their service model.  And the Google Map mashup with the listings is phenomenal.

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