Redfin Process Webinar - March 21, 2012

Redfin is much more than an

awesome real estate website..

March 21, 2012 Livermore/Pleasanton, CA

A Little Bit About Who We Are

Redfin is a real estate brokerage that has

helped over 20,000 people BUY or SELL a

home; 97% would refer us to a friend.

• Customers, not commissions

• Informed decisions

• The right home for the right price

No obligation

Get back up to 50% of our commission

Working with Redfin

Working with Redfin

FIELD AGENT Takes you to see homes See 50+ homes a week

YOU

AGENT Responsible for your success Writes your offer Handles negotiations

COORDINATOR Schedules tours Prepares paperwork Works with escrow

How Our Team Works

Considering… Looking… Buying…

Make Sure He’s a Good Fit

See all

deals &

reviews

Overview

•Search homes online & tour

•Get pre-approved

•Find a dream home

•Consult with agent, write offer

•Submit offer to listing agent

•Negotiations

•Success!

Finding

Your Home

Mutual

Acceptance

•Earnest money

•Inspection contingency

•Title review

•Financing contingency

•Waiting for loan approval

•Escrow signing appointment

Closing •Get keys and take possession!

•Receive Redfin refund

•Complete Redfin Survey

Working With Redfin is Different

• Service

• Advocates: client-satisfaction bonuses, not commissions

• Transparency: informed decisions

• Best Agents: The right home for the right price

• No obligation

• Switch Redfin agents

• Pause and re-start your search any time

• Tour on your schedule and pace

• Refund

• You get up to 50% the commission

• The Best Results

• Service: 97% would recommend us to a friend


We Share Our Commission With You

• We refund 15% - 45% of our commission to you (minimum home price of $120,000) subject to the

approval of your lender and the home seller

• Applied to closing costs

• Refund is tax-free


This is too good to be true:

• The best real estate website around

• A whole team dedicated to servicing you

• Plus you get a refund of the commission!

These are all great, but how much local market

knowledge do we have..?

WE SPECIALIZE IN LOCAL MARKET EXPERTISE

To Buy or Not to Buy

Why You Should Buy a Home

• You have a family and need room to grow

• You expect to stay put for 5 or more years

• You want a home that is difficult to rent

• You’re handy & and ready to invest

• You’ve saved up a down payment


Why You Shouldn’t Buy a Home

• You don’t have a good reason like family or schools

• You can’t afford the down payment

• You can rent for much less

• You plan on moving soon

• You’re worried about job security


Market Conditions

San Ramon Feb. Stats for Homes


San Ramon Feb. Stats for Homes


Pleasanton Feb. Stats for Homes


Pleasanton Feb. Stats for Homes


Dublin Feb. Stats for Homes


Dublin Feb. Stats for Homes


Where to find data…


Market Tips

• If the home is priced right, and is move in

ready, it will sell fast (less than 21 day)

• Hot price range is under $400,000

• Summer was not as busy as we expected

but Sept. and Oct. have exceeded

expectation for # of sales

• Distressed sales make up about 1/3 of the

LB market; you must be patient with the

banks.

I want to go see some

homes with my agent

What to Ask Any Agent

• Is this your full-time job?

• Familiar with foreclosures or short-sales?

• Where were your last five deals?

• Who else will be working with me?

• Will you show me all properties for sale?

• When am I committed to working with you?

• Has a client ever filed a complaint?

• How are you paid?

Can Redfin help with all kinds

of listings?

Our Redfin team will be happy to show you

most types of listings on the MLS:

• Conventional/Standard Listings

• Short Sales

• Bank Owned/REO

• Trustee Sales


Find a Home to Tour

Looking… Buying… Considering…

Schedule a Tour or Add More Homes


Fill Out Time and Notes


Confirm Basic Info & Coordinator Will Call to

Schedule


Now You are Ready to Tour

• Up to six homes per tour in two hour blocks

• Go on as many tours as you need

• Led by field agent

• No obligation


Getting Pre-Approved

A pre-approval letter is a letter from a bank or a lender estimating

how much they'll lend you

• Establishes what you can afford & makes offer process go faster

• Good for 90 days, depending on lender

• Ask for a few different amounts

• Redfin asks that you get pre-approved before your third tour

• Similar, yet different from pre-qualification

Information needed:

• W-2, two pay-stubs, tax returns, bank statements


Start Shopping for Lenders

Compile a list of 3-4 lenders & brokers

Good sources include:

• Redfin's partner lenders

• Referrals from friends, family & co-workers

• Banks or credit unions you have accounts at

• A large, national bank with an advertised rate

• Your real estate agent

• Online review sites, such as Yelp


Local Recommended Lenders

*In no way does Redfin

benefit financially from

recommending lenders –

we just think they’re great

lenders!


Current Average Rates

Type of Loan March 8, 2012 March 1, 2012

30-Year Fixed 3.88% 3.90%

15-Year Fixed 3.13% 3.17%

5/1 ARM 2.81% 2.83%

1-Year ARM 2.73% 2.72%


Where Are Rates Headed?


Getting The House You Want

Here are just a few things a Redfin agent will do for you:

• Researches seller & listing agent • Reviews agent-only comments

• Studies listing agent negotiating patterns

• Studies sellers situation and motivations

• Contacts listing agent

• Prepares a comparative market analysis and discusses • Where do you want to start?

• Where do you want to end up?

• Writes up your offer • Inspection contingency

• Financing contingency

• Submits offer

• Negotiates on your behalf

Overview of a Purchase

•Search homes online & tour

•Get pre-approved

•Find a dream home

•Consult with agent, write offer

•Submit offer to listing agent

•Negotiations

•Success!

Finding

Your Home

Mutual

Acceptance

•Earnest money (within 3 days)

•Inspection contingency (5-10 days)

•Title review (5 days)

•Financing contingency (20-25 days)

•Waiting for loan approval

•Escrow signing appointment

Closing! •Get keys and take possession!

•Receive Redfin refund

•Complete Redfin Survey

Important

milestone

tracker

Your team

of agents

Your to do

list

Redfin’s Deal Room (Your personal real time virtual

calendar depicting each step of your transaction!)

After Class…

Please fill out the survey we’ll send this week

along with these slides. We’d love to get your

feedback so we can improve.

To get even more info on the home buying

process, check out our home buying guide:

Redfin.com/home-buying-guide


Business

Redfin Process Webinar - March 21, 2012