Redfin Direct - No agent representation needed for buyers

[Edward Seid]

Redfin just released their future business model today, albeit only in BOSTON right now. It's called Redfin Direct and you can elect to have no agent representation when buying a Redfin-listed property. 

https://www.redfin.com/blog/redfin-direct-unrepresented-buyers/

Sellers who chose these non represented buyers pay a 1% buyers fee on top of their 1% sellers fee for a grand total of 2% for the transaction! As an agent, I can see my commissions eventually taking a hit.

Redfin is a true market disruptor. Can I get a holla from everyone in Seattle?!

[Wai Chan]

I think it really depends on if you are experienced enough. If you are first time home buyer then I understand that you need someone to hold your hands throughout the whole transaction. If you have some experience then you can do your own due diligence and save some money (or as an incentive to get the seller to pick your offer). A lot of time I don't know the reason why I would want to bring a buyer agent when I am the one who find the deal and do the research. They just help me submitting the offer and answer question as a middle man. So for these kind of situation, sorry I don't know why I would need an agent.

I think that is a good move from redfin as it will awake a lot of realtors not to take the heavy portion of commission for granted. Of course there are some good realtors who found deal actively and create value for investor during the transaction but it is just difficult to find ....