Redfin By The Numbers, May Edition: Redfin’s Agents Are In The Top 3% For The Chicago Area

Redfin agents Mark Reitman and Greg Whelan are in the top 3% of agents who represented home-buyers for Cook, DuPage and Lake Counties in May. Mark worked on 6 deals that closed totaling $2,015,900 and 3 of Greg’s deals closed worth $1,414,500.

Mark and Greg are experts on what’s going on in the real estate market right now because they’re actively working with clients and closing deals.

Our Clients Love Our Fanatical Service

We survey every client and track every transaction in a central customer database. For the surveys we received in May from our Chicago clients:

  • 18 clients responded to our customer-satisfaction survey and posted a review online, up from 5 in April.
  • All 18 of those clients, or 100%, would recommend Redfin to a friend, up from 80% in April.

In these surveys, Redfin asks customers to rate the likelihood that they would recommend Redfin to a friend on a 0-to-10 scale. Customers who rated 6 or higher count as people who would recommend Redfin to a friend.

More People Are Out Touring Homes

In May, our Chicago clients were busy seeing homes and making offers:

  • Redfin clients toured 588 homes in May, up from the 431 homes toured in April.
  • Our clients made 24 signed offers on homes, up from 22 in April.
  • Our Chicago agents were busy working on these offers:
  • o Mark Reitman: 15
    o Greg Whelan: 9

  • 3 of these offers, or 14%, were on bank-owned foreclosures, up from 5% in April.

We had a great home-buying class in May. Seven people came to the Goose Island Brewpub in Chicago to learn about the home-buying process and meet our agents. You can check out the slide deck from that class.

It’s Taking 42 Days To Close On A Home

In May, it took our Chicago clients 1 day less to close on their homes than it did in April:

  • For our clients who bought re-sales, the average time from initial agreement on terms to the close of the deal was 42 days, down slightly from 43 days in April.
  • All of our clients successfully financed their homes, the same as in April.
  • 2 of our clients’ deals failed the home inspection, up from 0 in April.
  • Of our closed deals, excluding short sales, the average discount off list price for homes sold was 1.40%, down from 6.11% in April.

Look For Our June Report

We’ll be back next month with our analysis of the June numbers. Let us know what you’d like to see in that report.