I have a regular agent but our contract is finishing soon. I am wondering if it is better to get rid of the agent, because even buying a house the buyer actually pays the agent fees, not the seller. I just found a house for which we are going to give an offer. Redfin offers rebate just $1500. Doesn’t look worthy to replace our agent on redfin for this money. Opendoor offers 5k, but I’m not sure wheter I can trust it or there are fineprints or tricks there. As an option there are agents who return 1%, so the regular agents do not look really nevessary.
Fine print is that it usually goes to closing costs so it u dont have any or ur bank doesnt allow you wont get it
So I have to work with their lenders to get that 5k credit? What is the case “if you don’t have any”? When I don’t have closing costs?
Ok so its complicated if you have no closing costs. Talk with agent and lender and discuss before proceeding. Some banks allow other money to be refunded to you some dont
If your agent responds quickly, is smart, and knowledgeable, then use the agent. They save you from a lot of hassle and trouble that can occur with Redfin or opendoor.
Buyer does not pay anything to their agent. At least not in US.
You should think a little bit more whose money is this fee paid “by seller”
If you are buying the selling party is paying your agent. Your agent might give you rebates. I had bad experience with redfin agents, they don't work on commission and you might think that's a good thing, and it is for just touring the property, but actually buying it sucks. They have no useful inputs, they don't negotiate for you, they literally just pass the paperwork between you and the seller. If you are ok with that then go for it. I found value in a traditional realtor that gave me real advise and feedback, in addition to tons of contacts for anything from termites to painters.
Where does selling party get money to pay agent? Not a very hard question to answer...
The flip side is that redfin with their team of agents is much quicker and faster to open doors than an agent. Any agent with a team will be similar experience, and the number of useless agents far exceeds the number of good agents
Did you use their lenders?
Thanks for the clarification
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