✍️ Editor’s Note: Real Estate Queen uncovers complex real estate processes and focuses on bringing out transparency for the consumers. Our team publishes the best in class real estate reviews based on thorough research and analysis that keeps the consumers one step ahead. In this guide, we will focus on the comparison between some of America’s best discount real estate brokers/companies and evaluating the best out of them.
One of the major challenges for the home sellers is to overcome the realtor commission fees which may cost them around 5-6% of the sale price. This percentage is considerable enough to make home sellers look for alternatives.
Discount real estate brokers/companies can be helpful here as you can skip the high realtor commissions without compromising on the services provided.
» In this guide, we’ll cover:
Rankings: Best Discount Real Estate Brokers in America | Details: America’s Top Discount Real Estate Brokers & Companies | What are Discount Real Estate Brokers? | Evaluating Features Of Discount Real Estate Brokers & Companies | Wrapping Up: Best Discount Real Estate Brokers & Companies | Frequently Asked Questions (FAQs)
Rankings: Best Discount Real Estate Brokers & Companies in the US
|Rank||Discount Real Estate Broker||Reviews|
|1.||🥇 Houzeo*|| |
-Affordable listing fees
|2.||🥈 Redfin|| |
-20-30% savings on commission fees
|3.||🥉 Ideal Agent|| |
-Affordable upfront fees
|5.||Home Bay (Discontinued)|| |
-Good listing speed
-Low listing fee
-High quality agents
-High quality agents
-Flat listing fee
-Affordable listing fee
-Good for houses over $1 million
* Houzeo is not a broker. It is a technologically advanced real estate selling platform that collaborates with real estate brokers and provides services to homeowners at reduced prices.
Details: America’s Top Discount Real Estate Brokers & Companies
Houzeo provisions home sellers to list their homes on the MLS at a discounted rate. With Houzeo, you can save almost half of the overall realtor commission.
As a seller opting for Houzeo, you have flexibility in choosing different packages. Contract review, pricing assistance, and professional photography are some of the key features that you get as part of the Houzeo plans.
Houzeo’s customer dashboard is an advanced feature where you will get access to multiple services. You can view and compare offers, counteroffers, schedule showings, and much more.
Houzeo is also one of the most popular For Sale By Owner (FSBO) platforms in the US.
Houzeo has a rating of out of 5 (1,238 total reviews) on popular sites like Trustpilot
Houzeo is present in 80+ Markets in the US.
One of the best online real estate brokers, Redfin comes with amazing technology to aid in the home selling process.
As per their website, Redfin takes 18 days to list a property on the MLS which is a significantly slow process. However, Redfin does provide extra features like open house scheduling, yard sign, professional photographer, and much more.
Redfin grabs points when it comes to technology. They have a unique seller dashboard which makes the selling process easy and comfortable. If compared holistically, Redfin has a much better technology than its competitors.
Redfin’s out of 5 on popular platforms like Google, Yelp, and Trustpilot.
Redfin is available in 80+ Markets in the US.
3. Ideal Agent
Ideal Agent is another top discount real estate broker provider that tags sellers with quality agents. A major drawback of Ideal Agent is that they charge 2% listing fee which is significant when compared with other discount realtors. This also means limited savings.
Ideal Agent helps with free agent matching service, but the seller is no way obligated to accept the agent’s service. The good part is the company hires only the top-notch realtors (top 1%), making it a reliable discount broker.
A process requires the sellers to talk to concierge after which an agent will be assigned. This brings a bit of delay in the selling process.
Ideal Agent averages on popular websites like Google and TrustPilot.
Ideal Agent has a nationwide coverage.
ListingSpark, one of the top discount real estate brokers, is based on the feature of pay-per-day. You need to pay a certain amount per day to remain listed on the MLS and have access to different features.
Even though ListingSpark provides great services and is considered to be one of the top discount real estate brokers, it still requires some manual processes to get the property listed on the MLS. This leads to a delay in the selling process.
ListingSpark focuses on strong features and add-on services (open houses, showings, etc.) that make the job of sellers easy and comfortable.
ListingSpark’s averageson BirdEye.
ListingSpark has coverage in Texas only.
5. Home Bay
Home Bay is no more in business.
Home Bay’s on Trustpilot.
Home Bay is available only in California.
HomeLight has worked with multiple sellers and real estate agents to provide the best in class home selling experience.
The 6% realtor commission still applies with HomeLight, but the rate actually depends on the agent. With HomeLight, you get the recommendation to choose between full service and limited service agents with their details. In any case, the agent chosen will be able to list your property on the local MLS.
On Sitejabber, HomeLight has an overall
HomeLight covers only major U.S. cities.
SimpleShowing, like many other discount real estate brokers provides an agent matching service. The 1% listing fee brings about some savings when compared with 3% real estate agent commission.
With SimpleShowing, you might not get the desired quality as a small team of agents caters to high volume of customers.
SimpleShowing does provide add-on services like listing on MLS, professional photographer, home evaluation, and more, similar to those provided by other discount realtors.
SimpleShowing is on TrustPilot.
SimpleShowing covers only Texas, Florida, and Georgia.
UpNest claims to have saved commission fees for a number of sellers through their platform. The discount realtor works similar to HomeLight and finds high-quality agents for the home sellers.
UpNest provides no-obligation service and it is not necessary to work with a particular real estate agent. The drawback is the marginal savings due to no variation in the commission fees when compared with the traditional realtor rate.
UpNest has an on BBB.
UpNest has a nationwide coverage.
As a discount realtor provider, Prevu offers sellers to list their property at a reduced rate (1.5% of sale price) when compared with the traditional 3% realtor commission. From buyer perspective, you get a 2% rebate when you buy a house from the platform.
The reduced rate is still high when compared with other discount real estate brokers and thus most sellers look for alternatives. A drawback of the platform is that Prevu has limited real estate agents onboarded which makes them over-loaded leading to poor selling experience.
Prevu provides additional features like home showings, professional photographer, listing on MLS, and much more.
Prevu is on Yelp.
Prevu covers only New York, Massachusetts, Connecticut, California, and Pennsylvania.
Trelora is another cheap discount real estate broker with flat listing fees between $3000-$4000. They also have a premium listing option priced at 2% of the sale price and provides many additional features.
Trelora looks a good option for listing the property but you are exposed to the risk of degraded agent quality. This is because they have a team of limited agents that cater to large volume of customers.
Different agents work with the sellers at different stages of the selling process. This looks efficient but can create issues because of multiple people involved. Trelora also provides add-on services like professional photography, yard sign, and professional marketing.
Trelora has an out of 5 on popular websites like Google and Yelp.
Trelora covers only Arizona, California, Colorado, Georgia, Missouri, North Carolina, South Carolina, and Washington.
When compared with other discount real estate brokers, Homie is one of cheaper options. No matter what your house list or sale price is, they charge $3500 as a flat listing fee.
Homie surely looks to be a great option considering the savings but it does not provide in-person agent support which means that as a seller you will have to do most of the groundwork. Homes does however provide remote support.
There is also a risk in quality using Homie because only a small team of agents caters to various customers.
Homie is out of 5 on popular websites like Google and Yelp.
Homie covers only Arizona, Colorado, Idaho, Nevada, and Utah
When you are looking for discount real estate brokers to sell high-value homes, Houwzer may be the best bet for you. The discount realtor charges a $5000 listing fee which is big for low-value homes but cheap for high-value (1M+) ones.
Houwzer provides limited real estate agents which could lead to quality issues as those limited realtors cater to a large number of customers.
Like Trelora, Houwzer also provides add-on services like professional photography, 3D tour, mail advertising, and more.
- Cheap listing fee for high-value homes
Houwzer is out of 5 on popular websites like Yelp.
Houwzer covers only Florida, New Jersey, Maryland, Pennsylvania, Virginia, and Washington.
What are Discount Real Estate Brokers?
Discount real estate brokers (also, low commission real estate agents) are realtors that provide limited services to the home sellers at a discounted rate. The listing agents charge a 3% commission fee traditionally, but discount realtors work for only 1-2% or a defined flat fee.
Note: The home sellers will still have to pay the buyer agent’s commission to attract the prospective buyers.
🔍 Explore More: America’s 11 Best Low Commission Real Estate Companies
Is a Discount Real Estate Broker the Right Fit for you?
You can make an informed decision about dealing with a discount brokerage agent by researching company websites, searching for consumer reviews, and studying market conditions.
Traditional vs Discount Real Estate Broker/Company
Always compare a traditional real estate commission with the Discount Brokerage Agent you choose. With the real estate commissions falling gradually, the discount broker must offer lower commissions than the national average. For example, Homie charges a flat price of $3500. If your property is worth $100,000, a full-service traditional agent will cost you $2500. With a $1000 loss on your end, discount brokers are irrelevant.
Understand the ins and outs of the neighborhood market. Depending on your area, choose the appropriate real estate discount broker. In cities like Tampa and Jacksonville, where homes sell quickly, a full-service discount broker may not be necessary. Instead, a flat fee MLS discount companies like Houzeo will serve you best, saving you thousands of dollars and a lot of time.
Discount brokers typically cover a limited number of places in your state. In remote areas, a virtual full-service agent will provide superior service. To obtain the best results for your location, search for terms like online discount real estate brokers to target your zipcode or Flat fee MLS listing service. These can locate the top discount brokers in your area in no time.
Evaluating Features Of Discount Real Estate Brokers & Companies
|💰 Listing Fees||One of the deciding factors to choose a discount real estate broker/company is the listing fees. The lower the fees, the better are the chances a seller will select a particular discount realtor.|
|⏰ Listing Time||Sellers will always go for discount real estate agents that take minimal time to list their property on real estate websites and MLS.|
|🧳 Services||Though discount realtors/companies provide specific services, sellers will always go for the realtor that provides maximum services at the defined rate.|
|📲 Technology||Technology makes the job easier for the sellers by saving on money and time. A discount realtor/company with advanced technology to take care of the selling process will always be preferred.|
|☎️ Customer Service||Good customer service provided by a discount real estate agent will always be welcomed by the home sellers to make their job easier.|
|📍Coverage||As a discount real estate agent/company, you would want to have the maximum coverage to cater to multiple sellers.|
Wrapping Up: Best Discount Real Estate Brokers & Companies
It is very difficult to select a discount real estate broker considering so many of them have come up today. Sellers need to consider features like listing fees, listing speed, services provided, technology, customer service, and coverage before they opt for a specific discount realtor. Not only this, but sellers should also look for online discount real estate brokers so that much of their work is handled digitally.
Considering all the factors, Houzeo comes out to be the winner amongst all. Using Houzeo, you get multiple benefits and features that are not available with other competitors. Also, Houzeo is 100% online and digitized to aid in the smooth selling process. The platform is the best Flat-Fee MLS provider and best FSBO website in the US market.
🔍 Explore More: What is Houzeo?
Frequently Asked Questions (FAQs)
How Can I Find the Top Discount Real Estate Brokers Near Me to Sell My Home?
You can check on search engines directly for discount real estate brokers near you. Or, you can go with websites that provide full-service agents at a discounted rate. Or, you can check discount real estate websites like Houzeo that are built for providing such services. Houzeo is a great platform that brings together top local discount and Flat Fee MLS brokers.
What Are The Different Types of Discount Brokers for Home Sellers?
Generally, there are 4 types of discount brokers:
1. Low Commission Brokers: These brokers charge 1-2% commission to list and sell your home.
2. Flat Fee Discount Brokers: They charge a low flat fee.
3. Sell & Buy Combo Discount: These brokers help in selling your home for free and help you in purchasing your next home. They get a commission from the home you purchase.
4. Flat Fee MLS Brokers: These are different from Flat Fee Brokers. They don't provide full service. The service provided is as simple as listing on MLS.
Flat Fee MLS has gained popularity recently and is used heavily by sellers owing to the savings involved.
How Much Do Discount Real Estate Brokers Charge to Sell A Home?
Discount real estate brokers can charge either a flat fee or a reduced commission (when compared with traditional realtor commission) of 1-2%.
Will Discount Brokers Advertise Open Houses For Me?
Most discount brokers help advertise the open house on the MLS for you. Houzeo provides an easy interface to request an open house. Watch this video to see how to manage house showings.
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