First Time Home Buyers Class - Pleasanton - January 11 2012


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First Time Home Buyers Class - Pleasanton - January 11 2012

  1. 1. Redfin’s Home Buying Class January 11, 2012 Pleasanton, CA
  2. 2. A Little Bit About Who We AreRedfin is a real estate brokerage that hashelped over 20,000 people buy or sell ahome; 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
  3. 3. To Buy or Not to Buy
  4. 4. 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 paymentConsidering… Looking… Buying…
  5. 5. 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 securityConsidering… Looking… Buying…
  6. 6. Market Conditions
  7. 7. Pleasanton Dec. Stats for HomesConsidering… Looking… Buying…
  8. 8. Livermore Sept. Stats for HomesConsidering… Looking… Buying…
  9. 9. Where is the Market Headed?• Supply of homes is at a five-year low and won’t increase the rest of the year• Foreclosures have been driving price declines, likely years of inventory remain• Rents have been rising, making buying more attractive• Market stabilizing, though likely 2-3 years before significant appreciation• Rate increases - biggest issue for buyers
  10. 10. Searching for a Home
  11. 11. Benefits of a MLS Powered Site • All the homes for sale: 30% more listings • You see what the agent sees: 4x the data • Real-time market data: photos, details of just-sold homesConsidering… Looking… Buying…
  12. 12. Demo of Redfin’s Site
  13. 13. Finding an Agent
  14. 14. 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?Considering… Looking… Buying…
  15. 15. Working with RedfinWorking with Redfin
  16. 16. How Our Team Works AGENT Responsible for your success Writes your offer Handles negotiations YOU FIELD AGENT COORDINATOR Takes you to see homes Schedules tours See 50+ homes a week Prepares paperwork Works with escrowConsidering… Looking… Buying…
  17. 17. How Commissions Work Example: You buy a home for $500,000 Traditional Agents Commission Seller’s Agent (3%) $15,000 Buyer’s Agent (3%) $15,000 Redfin Agents Commission Seller’s Agent (3%) $15,000 Redfin (50% of commission) $7,500 Redfin Buyer (50% of commission) $7,500 • Commissions are determined by the seller • Redfin refunds 50% of the buyer’s agent commission • Applied to closing costs • Refund is tax-free • Minimum Redfin fee: $6,000Considering… Looking… Buying…