Why Buying with Unlocked is Better than Buying with Redfin (Old)

Unlocked offers a buyer rebate 5 times that of Redfin.

Get 2% cash back when you upgrade to an Unlocked agent.

Redfin was one of the early pioneers of the real estate buyer’s rebate. Founded in 2004, Redfin initially gave buyers 2% of their purchase price in the form of a cash back rebate. Over time they reduced the amount of the cash back rebate, and it is now around 0.4% in the Bay Area (Redfin does not disclose the percentage, but it can be approximated from active listings).

At Unlocked, we agree with Redfin that technology can be leveraged to provide a better buying experience to Bay Area homebuyers. We created Unlocked to deliver an even better buying experience than Redfin. Here’s how we’re different / better:

BIGGER REBATE:
Unlocked offers a 2.0% cash back rebate, compared to Redfin’s 0.4%. That is five times the rebate, and is the largest rebate offered in the Bay Area! On a $2,000,000 home that’s another $32,000 rebated to you. That additional money can be put towards renovations, new furniture or even paying down your mortgage.

BETTER AGENTS:
Unlocked's licensed real estate agents aren’t your typical real estate agent. One of us is a Yale Law JD and the other is a Stanford MBA. We’ve worked at the top management consulting, law and private equity firms (Bain & Company, Boston Consulting Group, Wachtell and Bain Capital). We bring more to the table than the typical real estate agent, and get great client feedback on our customer service, data-driven approach and thoughtful advice.

GREATER TRANSPARENCY / MORE DATA:
The Redfin Estimate is useful tool for approximating a home’s value. However, the estimate itself is a “black box”, which makes it less useful when it comes time to actually submit an offer. At Unlocked, we provide our clients with our Custom Valuation Report, an easy-to-interpret dataset of recent comparable transactions, competing listings and third-party valuations. This tool provides our clients with greater transparency, and is a more useful tool for determining what offer price to submit on a home.

If you're interested in learning more about Unlocked's better buying experience, feel free to Contact Us or learn more about How Unlocked Works.