When it comes to real estate commission fees, home shoppers have long been fraught with a dilemma. Few home shoppers have been thrilled about paying the hefty 3-percent commission on the biggest purchase of their lives. And yet, most experts will discourage home shoppers from dispensing with a real estate agent because an amateur’s mistakes can prove far more costly than a 3-percent commission. With little wiggle room, home shoppers have forked over 3 percent of their nest’s value for as long as I can recall.
But what if you could now meet a realtor in the middle?
Hire a realtor from Redfin, and they will refund you half of the 3 percent commission. It’s like a year around sale!
I learned about Redfin today while touring homes in Cerritos, CA with my friend Carl, his mom and his real estate agent from Redfin. Carl decided to check out Redfin when he heard from a colleague in real estate that many agents charging traditional rates were losing business to these guys.
The Redfin agent also told Carl that they draw that fifty-fifty line all the way down, splitting all financial incentives they receive from banks or agents with their clients.
The catch? They run their show a little differently.
Unlike most agents that will show you any home you want to see, Redfin realtors will only show you homes within your affordability range. Since you must first be preapproved for the homes they will show you, upfront paperwork is required. They will charge less, but they won’t waste their time. Basically.
