11-20-2009 01:22 AM
I went to 2 OH's last weekend in 2 different LA (east side) neighborhoods. Each asked who I was working with and when I said Redfin they each did the "mildly amused vs. intrigued" raised eyebrows and smile thing. Then, they each proceeded to tell me that it was nice and everything, but they made the traditional realtor pitch. This seemed pretty standard (i.e., possessive), but one thing which was a bit troubling was that they insinuated that in certain desirable neighborhoods, they as realtors would not accept an offer from Redfin.
When I asked if that was legal since aren't they supposed to present all offers to the sellers, the realtors said that they can present the offer, but they don't have to present it in a way for it to be accepted. EH??? These 2 guys basically stated that if they were working with a buyer who didn't have a good representative realtor, they (as the listing agent) didn't want to get stuck doing all the work... Anyway, it left somewhat of a gross taste in my mouth
1) Has anyone else had this kind of experience?
2) What "additional work" does a listing agent really have to do to make sure the escrow goes through successfully?
3) Has anyone else heard of seller agents spinning the offer in a way that the buyer would rather pass and wait for another offer rather than take it--even if the offer is at, say, list price.
11-20-2009 09:29 AM
Interesting since my experience as a buyer with Redfin was that Redfin, not the selling agent, took care of all the work required to make the sale happen, get it through escrow to closing on time, cross the t's and dot the i's.
In 2 prior purchases, each with a different "full-service realtor" as my "agent," both sales would have fallen apart had they depended on either of those agents to keep them afloat, much less move them forward. Once the purchase was accepted by the seller, one full-service realtor made vacation plans while the other scheduled an elective surgical procedure. Both were unreachable on the day the deals should have closed and neither closing occurred timely.
The opposite was the case with Redfin, whose "paperwork person" took over managing, reminding and coaxing, as needed, all escrow, lender and seller deadlines so that everything occurred as planned. Meanwhile, my "sale negotiator," Joyti the Miraculous, kept on top of the sale after it was made, reviewed inspections results, submitted an addendum taking $20,000 off the sale price weeks after the sale was accepted by the seller, and despite the seller being a bank, despite the purchase agreement stating "NO REPAIRS, AS-IS, NO DISCUSSION!" and somehow -- after the fact -- got us $20k off the under-market foreclosure listing price!
Redfin is the only realtor in LA I've ever gotten full-service service from after finding the place we wanted . . . on Redfin!
If you get a strange look from a seller's agent at an open house, perhaps you should inform them that you're with Redfin because they give the best service to buyers (and, in the process, sellers' agents) of anyone in town. Tell the OH rep he'll be free to schedule his tummy tuck or honeymoon in Tahiti while Redfin does all the work required to close "his" sale.
11-20-2009 04:26 PM
If you find agents who say they wouldn't consider a Redfin offer please let us know the agent's name so we can follow up with their broker. We'll, of course, keep it confidential about how we found out about the situation.