Real Estate on Redfin
Real Estate on Redfin
Redfin is a website that compiles properties that are for sale or rent and allows buyers to browse the properties. Redfin is very user-friendly and although it is similar to competitive sites like Zillow and Realtor.com, Redfin has some very unique restrictions. For this article, the features available to buyers and sellers will be the main focus.
User-Friendly
Redfin is easy to navigate because the options are clearly labeled and the website has a high contrast design which makes menus easy to locate. The properties can be sorted by navigating a series of filters regarding the property characteristics. Unlike other websites, these filters can only be accessed once a specific search location is entered. The parameters for properties include typical categories like price, type of home, square footage, lot size, and age. Other less typical categories include garage size, school preferences and rating, property tax cost, and a long list of features that can be specified (such as a balcony, handicap accessibility, pet friendly, and fireplace). These very specific categories allow the search to become very narrow which prevents the buyer from browsing homes that do not meet their expectations.
Not Inclusive Listings
As was mentioned previously, Redfin is unique. As pointed out by Josiah Wilmoth, unlike other home browsing sites, Redfin is an actual real estate company. Websites like Zillow and Trulia are designed to market homes that are for sale and they do not claim to be real estate professionals. If professional advice is needed, these sites will refer the buyer to a local agent. However, although Redfin is popular for its home browsing website, the core business of this company is truly real estate sales and listings. The benefit to Redfin is that because they are a real estate company, they have access to local MLB listings which provide property details that other websites cannot access. According to UpNest, to list a property on Redfin, a homeowner must use a Redfin realtor. The site does not list homes that are for sale by the owner (FSBO) but it does include foreclosures and empty lots along with traditional homes. As an incentive to use their services, Redfin provides a discount of 1.5% on their listing services (or the lowest current listing fee based on location). UpNest advises that if a home is also purchased through Redfin within 365 days of the listing, additional savings can happen when .5% of the original listing fee is credited. Keep in mind that when selling a home additional seller’s fees will be charged.
Shortcomings
Although Redfin has a huge database of homes for sale, the restrictions can be a downside to using their website. Unlike companies like Zillow and Realtor.com that are not looking to make a sale, Redfin is focused on sales and purchases. On the home listings, there is limited detailed information about the property and home. For more information, an agent would need to be contacted or another local agent would need to consult the MLS listing itself. Although Redfin has access to the local MLS, they do not publicly share the information with all who choose to search the website. This agent-centric approach is great for those who don’t mind using an agent, or already have an agent, but it is a disadvantage for the new generation of home buyers who like to browse the web before attaching themselves to a specific agent. The website also restricts the abilities of those who wish to sell their home without realtor interference by listing FSBO.
Overview
Redfin is a great resource for those looking to browse MLS listings, foreclosures, and lots for sale. The website is professionally designed so that it is easy to navigate, and each listing is consistent in look and content. However, without a realtor, the buyer will have limited access to key information such as home and property features. To list a property, fees will be accessed to the seller, unlike other websites that are free to use.