War Story: Buying New Brings Sweeter Deal

Recent MBA grad, Mark Trang, spent weeks searching for a place in San Francisco to call home and found that the housing, like most things in the city, was terribly old or 21st century new. After an unsuccessful bid on an older property he decided to make an offer on one of the gleaming new condominiums in the SOMA district.

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To his surprise, Redfin agent, Max Diez negotiated a winning deal that included two years of free HOA dues and walked away with a $12,660 Redfin commission refund. Not bad at all.

If you’re already researching using the Internet and attending open houses on your own time, why pay a traditional buying agent 2-3% when all you need is support during the actual transaction? Redfin delivered exactly the value I needed but at a cost that makes sense. My Redfin agent, Max Diez, and the rest of the Redfin team was very responsive and provided great insight during the offer and escrow process, particularly when it came to the local nuances of buying property in San Francisco. I am a big fan of the way Redfin is transforming the real estate industry and look forward to using them again when I buy and sell property!

-Mark Trang

The floor hasn’t completely fallen on San Francisco real estate but there are deals to be had if you’re looking to take advantage of a boom in new construction building and plenty of cautious buyers sitting on the sidelines. If you have a funny or insightful story for us about how you bought or sold a house, send it to bahn (at) redfin (dot) com; we’ll probably use it, and then we’ll send you a gift certificate for a dinner anywhere you like.

Discussion

  • John

    Just another attempt, off topic.

    You have DC still listed as “June 2007″. It is now July 2007. You folks going to correct your ETA?

  • Mark

    I’m a realtor with a nationally recognized real estate company. I received an offer via email from a Redfin agent. The MLS instructions stated to call the me (the listing agent) before writing an offer. The listing has city restrictions that the buyer must qualify. I was not contacted prior to the offer being written. After I told the Redfin agent about the restrictions, he took very little time to learn further about it. In addition, I always like to know some background about the buyer (i.e. why buying, where living now, flexibility on escrow period, buyer’s lender’s background, etc). The Redfin agent knew nothing. On top of that, the Redfin agent lives near San Diego, and my listing is located near Los Angeles! Lastly, the Redfin agent never showed the property of course, I did! The buyer did state he had an agent that was out of the area, and I showed it to the buyer anyway as my duty to my seller. By the way, the number one way to get sued is selling an out of area property. Enough said?

  • Jerry

    As a recent home seller, I applaud Mark on doing what it takes to make the sale. Wish my agent had been that hard-working.

    Instead, I showed my house to all the prospective buyers. My “traditional” seller’s agent never came by to let any of them in. After it was sold, she showed up to get her 6%, though.

    Anyway, she could have learned a lot from Mark. As it is, she’ll never get my business again and I’ll never recommend her to anyone. Sad thing is that she doesn’t realize that she’s permanently lost the referrals that she would have gotten from me.

  • L.J.

    Mark,

    Is that the wambulance I hear?! Whiner.

    I bought my house through Redfin. The sellers agent was very anti-Redfin, and he made that apparent while we were at the open house first viewing the property. I sensed reluctance on his part regarding our offer, but since we were the only offer and his client wanted to accept it, he had no choice. Our Redfin agent was completely on top of handling everything and was very thorough. I hope that experience changed the mindset of the sellers agent in our transaction.

  • http://www.homepage494.domain706.com Brithney

    Hack again?!