Redfin Employee Reviews about "salary"

Pros

Ok salary is ok bebifit is bad no vacations no insurance no dental

Cons

Ok good salary laid back boss is good on time

Pros

As a Redfin agent you do receive lots of leads and get a monthly salary with benefits for you and your family.

Cons

The leads don't transcend into dollars for the agents, only dollars for the company. The customer rebate is greater than what the real estate agent is paid for their bonus based solely on a client survey and sales prices of a home. The monthly salary for agents is minuscule and Redfin agents are definitely not the best paid agents in the industry. Redfin advertises their agents as having a team but the team is only looking out for themselves. Blocking out your schedule so you are never available to work/tour clients is not the team approach, in my opinion. In my experience as a Redfin agent, your team stabs you in the back whenever they have an opportunity.

Pros

Benefits, a communicative IT department, and support training.

Cons

Lack of transparency, zero work-life balance, expected to be available all hours of the day and night, last minute scheduling, contradicting policies, extraneous homework to be done outside of office hours, and a litany of other expectations that were not outlined in the job offer but were later imposed. Limited leads and a salary that does not even remotely meet the cost of living.

Pros

I have been with Redfin since 2013. I started as an associate agent and worked my way to a buyers agent, then Senior agent to listing specialist. I am currently a Listing Team Manager. I love that I get to just do what I love, and that is work with clients. I hated marketing myself or hard selling myself at open houses or to friends and family. Redfin allows me to have a small salary but also be paid bonuses based on my clients happiness! I also get vacation time and sick time, full medical benefits and exotic trips based on my performance. Every client provides a survey at the end of their sale/purchase. I believe this keeps Redfin agents open and honest. We really want to do what is best for our clients.

Cons

The only downside to Redfin is you can get overwhelmed with all the business that comes in. Working with your manager to maintain your workload and make sure you have a healthy work life balance is important or you will work yourself to death. My managers have always been wonderful about making sure I am not working too much and taking time off for me.

Pros

They offer a base salary Offer great tools to help you succeed

Cons

The base salary is very minimal and total commission is about 1% or less the base salary doesn't offset the commission. Its hard to make money

Pros

Learn a bunch in a short amount of time

Cons

The pay is pathetic. Your clients will believe that you make livable wage. When the company says the average employee is making for $100k it’s really on the selling agent who makes that amount. You make $10k salary base and bonuses on the homes you sell are a joke. The bonus for an $850k house is $2250 that is taxed as a bonus. Too much work with little to no pay.

Pros

Great search engine placement for online shoppers. This is where the lead source comes from much like Realtor.com and Zillow etc.

Cons

Redferno is a fake acting pep rally. They Claim agents are closing all these transactions is highly unlikely. Zillow has about 7-10 percent conversion rate on online leads. That is about what it is here. I can promise keeping a client under contract and closed is a huge task, and claiming agents are doing 100 transactions a month is hard to believe without major assistance. From experience you are building a relationship with the client because they can choose from 20 other real estate firms, agents etc. So this takes a lot of showings and time to build this trust. On Average I show at least 3 homes to 1 buyer and receive NO AA assistance for showings. So I would say that amount of transactions is IMPOSSIBLE to achieve. Not to mention the amount of deals that fall apart with financing, inspection, appraisal issues etc. For all you realistic agents dealing with 5 transactions in one month(guarantee most slow time is 1 a month), the amount of phone calls with the clients to ensure the file closes is a tremendous task for the compensation you receive. I promise the transaction coordinators make your job 3 times more complicated, duplicate communication, add extra unnecessary steps, and interfere with your clients. Title companies audit the contracts, and transaction coordinators are more overhead that reduce producing agent commissions. I would rather hire my own secretary if needed. Redfin managers literally produce nothing. Not sure why they are even needed. Pay is 12K and transaction bonuses are 1200-1600 no matter if a house is 100,000 or 600,000. Your lucky to break 40-45k on average. I am not sure about big cities but it's all fiction folks. If you in a big city more agents to distribute leads to, and they do favoritism to agents for listings etc. No benefit for adding a sphere client(400 bonus on your pathetic 1200 transaction bonus). Listen, I don't need mileage and event pay. What I need is a better split from you! You are getting 13% split and you get 87%. A 12K salary 12K event pay and gas does not equal a better split percentage . I'm not sure of the metrics of your overhead, but your way off on what our pay should be. All your loyalty bonus crap is a scam. Ill take care of my gas and expenses. I don't claim to know all the metrics, and can sort of understand the making 45-75K and accept this pay. HOWEVER, I don't need Managers micromanaging you, constant meetings, company parties, walking on egg shells to fit into your cult. The entire industry is independent contractors, so you recruit us knowing we don't like micromanagement. We are the bosses and have to deal with clients and the clients call us. Leave us alone unless we aren't selling! The entire onboard process is long and we are pre-screened seeing if we have done closed transactions, current MLS access, and background check. My point is you are hiring someone that already knows what they are doing. What is up with the managers? Remember all those issues above on how deals fall apart. Well apparently that is all your fault, and have to babysit the transaction coordinator, the manager, the other manager, the client, the lender, hell the dog, and figure out how to keep everyone happy. But wait, if you have the tolerance to put up with all this, and resolve all the problems do you get a congrats on a closed deal. NO they wait until you have 2 million dollars in one month under contract and they send termination to keep commissions. It's a huge corporation that you can not call anyone to speak with grievances. Your manager controls your livelihood. That is a great model for a criminal organization to steal commissions, hire new agent, fire, steal, repeat. It is almost comical that they think they get some satisfaction in terminating you. You literally are terminating the broker sponsorship and you continue on your real estate career. They sent threatening termination emails over uploading deals 'incorrectly in agent tools.' After stressful emails I still wrote a 680K sphere client for Redfin, being loyal instead of changing brokers. The company terminated 1 day after that closing. The company waited until the deal closed to terminate and to collect 16,0000 dollar commission check in which I hope they send 2200 dollars. I also have 4 deals under contract and they said they are not going to pay the commissions another one which is sphere. If you like writing up deals for a company to rob you this is the place for you. I hope upper management reads this and fires the Managers in the south region. If you are going to fire producing agents I strongly suggest you close the doors. If after you read this hopefully I helped make your decision to work for this brokerage, or further do something else with your livelihood.

Pros

This role is very flexible Can be good for extra cash if you’re available

Cons

Have to take a lot of events and be willing to travel far to make any money. 1099 no base salary If business slows down you’re making little to nothing because events are rotated between the team

Pros

Great benefits overall, work life balance isn't bad once you reach a manager level. Salaries are competitive at the manager level. Agents are given freedom to work without supervision as long as they are closing deals and get overall good reviews.

Cons

Local managers don't own their job itself or decisions on their direct reports anymore. Upper management has shifted to micromanaging everything that happens in the field everyday. This approach has really strayed from what I considered to be the core values when I started of supporting people at all levels and trusting your people to do the right thing and do their job effectively. Agent base salaries and bonus keep going down over the years because there are so many mouths to feed at the company.

Pros

You get many clients and lots of experience. There is a fun trip once a year. The agents are awesome.

Cons

They run you into the ground. The average agent does 34 deals a year and the managers are constantly on your case to do more. There is NO work life balance. You work 12 hours a day, EVERY day. After all of that your salary is around 25k and your bonuses get taxed around 40 %. So you walk home with nothing left in your pocket. Because you have so many clients it is a constant state of emergency all of the time. Two of my co workers were hospitalized from the stress of it all.