Is Selling with Redfin a bad idea???

[Peter Morgan]

Hello,

I am planning to sell my  multifamily with Redfin is that a bad idea? Single family  probably a realtor will do better but for a multifamily not sure if it makes a big difference, The two main drivers that are motivating me to sell with Redfin are the following:

1)Low sellers commission 1.5%

2)No buyers commission If a prospective buyer purchased through Redfin else the standard 2 to 3 percent 

 I am expecting it to sell  for around 1mil with up to 300k profit and absolutely not seeing anything going wrong selling with Redfin.I am extremely interested to hear in favor or against selling with  Redfin.

I will  greatly appreciate your inputs.

Thanks 

[Russell Brazil]

I missed out on getting a listing in a very similar sounding situation. 

They subsequently listed it as a single family accidentally, so people searching for multifamily never knew it existed. They also described it so it seemed like one of the units was illegal, when in fact it wasnt. There had been a variance granted to the 3rd unit and recorded in the land records. It sat, price dropped. Me and a partner purchased it and resold it 90 days later (to satisfy the FHA antiflip rule) for just shy of $150k more.

More importantly, the seller had zero idea any mistake was made at all. They probably thought they did a great job saving $10k in commission. 

Small mistakes can lead to large losses, and more importantly you might never have an idea a mistake was made or how much it cost you. Just remember.....#whoyouworkwithmatters.