A traditional Realtor charges 5% – 6% commission to sell your home. At that price, you’ll pay $25,000 in commissions alone if you’re selling your home.
Low-commission agents are a budget-friendly option. They charge lesser than the 6% commission, typically, 1% to 2%. If you want to save half of the commission, you should list on MLS by owner.
List on Houzeo and Save Thousands in Commission!
We’ve reviewed and ranked New York’s top 5 best low commission real estate agents in 2023.
Rankings: 5 Best Low Commission Real Estate Agents in New York
|Low Commission Agent/Company||Fee||Max Savings||100% Online||5-Star Reviews||Broad Coverage||Mobile App|
|2. Get More Offers||1.5% |
|3. Prevu||1.5% |
|4. Homelight||2.5% |
|5. UpNest||2.5% |
* Houzeo is not a real estate agent. It is an advanced real estate tech platform that collaborates with brokers to sell properties.
Detailed Reviews: New York’s 5 Best Low Commission Real Estate Agents & Companies
Houzeo is America’s top-ranked Flat Fee MLS service. With them, you will pay the lowest commission to list your home. They offer maximum savings, 5-star customer support, and cutting-edge technology. Houzeo offers 4 packages.
- Bronze Package – $349: This package offers Houzeo listing for 3 months with maximum photos.
- Silver Package – $199+: This package offers Houzeo listing for 6 months with maximum photos.
- Gold Package – $299+: It is Houzeo’s signature MLS package and includes all the technology Houzeo is known for Houzeo Showings, Houzeo Offers, and DigiTransact.
- Platinum Package – $179+: It includes the assistance of a licensed broker to help you with negotiations, disclosures, and closing.
👑 The Queen’s Take: If you are looking for a way to save money on commission. Houzeo is a good option because they provide Flat Fee MLS, which has the lowest commission possible.
» Houzeo Reviews: Houzeo is 100% online. You can finish listing formalities in less than 60 mins.
Here are some advantages of Houzeo.
- Nationwide Coverage: Houzeo covers 47 states and DC.
- Max Savings: With Houzeo, you save at least 3% on listing agent commission. You can sell your properties without incurring traditional real estate agent fees, saving money.
- Advanced Tech: Houzeo provides cutting-edge technology for a seamless journey. It has an intuitive seller’s dashboard, and a free mobile app.
- Maximum Exposure: Your home is syndicated to 100+ real estate websites like Zillow and Trulia.
» Houzeo Customer Reviews: Houzeo has a 5-star rating on Google Reviews and Trustpilot.
2. Get More Offers
Get More Offers is a real estate software management system with a discount real estate broker e-commerce website. They also offer flat fee MLS listings.
Pro Package – $0 Upfront: This is a full-service package that includes 6 months listing, CMA, pricing and negotiation assistance, professional photography, and concierge onboarding
Solo Package – $99 Upfront: This package is ideal for builders, investors, and experienced sellers. It includes 1-year listing term, instant buyer lead forwarding, and a free yard sign.
👉 Our Take: Get More Offers can be cost-effective for sellers with houses priced at more than $300,000. However, they do not offer any benefits for buyers.
Get More Offers is a decent option if you want to sell or buy your house in New York.
- Market Exposure: With the ‘PRO’ plan home-sellers get their house listed on not just the MLS but also on other platforms such as Realtor.com and IDX+. They also use custom flyers and brochures for marketing.
- Full Service: The ‘PRO’ plan includes services like pre-listing consultation, contract negotiations, and professional photography, to name a few.
- Buyer Rebate: Get More Offers provides up to 66% buyer rebate. However, it is only for new construction.
- 100% Online: Get More Offers provides online services. Your listing process will be quick and hassle-free.
In our research, we have found no deal breakers with Get More Offers.
No credible reviews were found.
Prevu offers a single package with all the start to end services you require during your sale.
- Full Service – 1.5% Commission: Prevu charges a low commission rate of 1.5% of the sale price for listing. It includes various features like home valuation, 3D virtual tours, open houses, professional photographs, listing on MLS, and social ad campaigns.
» Prevu Reviews: Find out what customers have to say about Prevu.
Prevu is a full-service low commission brokerage based in New York.
- Mortgage & Closing Costs Calculator: You can get an estimate of your mortgage and closing costs by using Prevu’s Calculator. The closing cost feature is only for NYC sellers.
- Buyer Rebate: Buyers who purchase a house with Prevu get two-thirds of the commission that Prevu receives from the seller.
- Smart Buyer Platform: Prevu’s technology allows buyers to search for homes, communicate with their agents online, schedule showings, and make an offer.
Here are some red flags of Prevu you should know about.
- Inconsistent Agent Quality: Prevu has limited number of agents and an inconsistent agent matching algorithm. This may compromise the quality of customer service you receive.
- Variable Listing Fee: The listing fee varies as per your location. Make sure you check the listing fees in your preferred location.
Though Prevu’s listing price is lesser than traditional realtor commission, it is still higher than other low commission real estate companies. Prevu agents take on a large volume of clients to compensate for the low commission. This may result in a lack of personalised service.
HomeLight is an agent matching service, free for home sellers. They offer both full and limited service plans.
- Free Agent Matching: Your real estate commission varies depending on the agent you are assigned. In some cases, the traditional 5%-6% commission may still apply.
» HomeLight Reviews: Check out the customer reviews for HomeLight on Sitejabber.
HomeLight has a network of the best real estate agents, and brokers. They help to create tailored guides and resources in the process of selling a house.
- Good Agent Coverage: They have a good number of agents as per their coverage area.
- Estimators and Calculators: HomeLight offers home value estimator, best time to sell calculator, agent commissions calculator, and net proceeds calculator.
In our research, we came across a few red flags of HomeLight.
- Inconsistent Agent Quality: The agents you are matched with may not work at your convenience. Even the listing speed will be based on the agent selected.
HomeLight offers decent agent-matching services. However, you may be matched with a listing agent who charges 3% commission, meaning zero savings for you. Their agents handle multiple clients at a time time. This could lead to miscommunication and lack of personalised services.
UpNest is an innovative real estate marketplace that connects home sellers and buyers with agents in their area.
- Pricing: There’s no direct cost to using UpNest, but the savings are marginal. UpNest agents decide their commission fees. The discount rate varies.
👉 Our Take: We do not recommend Upnest for home sellers or buyers. UpNest’s network is reliable and quick, but savings aren’t guaranteed. You might end up paying more than you had expected.
Here are some advantages of using Upnest.
- No Obligation Service: Within 24 hours timeline after signing up, UpNest will send you multiple agents you can choose from. If nothing fits, you can simply walk away.
- High-quality Agent Network: UpNest partners with top agents from leading national brokerage firms across the U.S. All agent matches remain unbiased, based on your criteria and preferences.
- User-friendly Dashboard: UpNest’s customer dashboard is intuitive and makes it easy to compare agent matches. It also features options to contact the matched agents or your UpNest Advisor with a single click.
What is UpNest? Read the comprehensive review to know more!
In our research, we found some red flags associated with UpNest.
- Marginal Savings: The commission rates aren’t pre-defined. The negotiation ultimately relies on you. Past sellers have claimed that the lowest listing fee is 2% which is quite high.
- Inconsistent Customer Service: Customers have revealed that some UpNest representatives are extremely helpful and knowledgeable. However, rest of them struggle to answer simple questions.
What are Low Commission Real Estate Agents/Companies?
Low commission agents or companies offer services similar to traditional agents at discounted rates. These discounted rates usually range from 1% – 2% as compared to the traditional charges of 2.5% – 3%. You will also have to pay the traditional commission fees of 2.5% – 3% to your buyer’s agent.
Your average savings depend on the type of low commission real estate agent or company you select. Potential savings can range from 1% – 1.5%, helping you save thousands!
» Discount Realtors Near Me in New York: Discover discount realtors near you and start saving today!
Types of Low Commission Real Estate Agents and Companies?
Based on the level of services they provide, there are various real estate agents and companies:
- Flat Fee Real Estate Brokers: Flat fee Realtors charge a flat fee instead of a fixed percentage to list your home. They provide services such as listing across high-traffic websites, professional photography, flyers, and scheduling home tours.
- Virtual Full-Service Agents: They offer 100% online services. These include property search, preparing contracts, negotiating offers, home tours, etc. at no additional cost.
- Discount Real Estate Brokers: They offer services at commission rates lower than traditional agents. They charge 1% – 2% commission or a pre-defined flat fee.
🤔 What is the Average Realtor’s Commission?
The average commission for realtors is roughly 5% – 6% of the final sales price. The ideal commission for the seller’s agent typically ranges between 2.5% – 3%. Similarly, the buyer’s agent will also charge 2.5% – 3%.
How to Choose a Low Commission Real Estate Agent/Company?
It is necessary to choose the right low-commission real estate agents for a hassle-free house-selling journey. Following are some tips for you to make a wise and quick decision to choose the best low-commission realtor:
- Research and Compare: You should look for real estate agents or companies that offer low commission rates. Compare their rates and services to find the best value for your money.
- Negotiate: Don’t be afraid to negotiate with the agent or company to reduce the commission. Some may be willing to lower their rates depending on the market conditions or the specifics of your transaction.
- Consider Package Deals: Some real estate companies offer discounted commission rates if you use their services for both buying and selling a property. Explore these package deals to maximize your savings.
- Advanced Technology: Choose real estate companies in New York offering innovative technology, online paperwork and mobile apps.
- Online Reviews: Check customer reviews online to get insight into the type of services you can expect to receive.
- Low commission real estate agents or companies offer cost-effective alternatives to traditional real estate agents.
- Low commission realtors typically charge 0.5% to 2.5% commission instead of 3% commission.
- Despite lowest realtor fees, they provide you with professional services, including property valuation, marketing, and negotiation.
- You can potentially maximize your savings by reducing their commission expenses.
- While low commission agents can be a cost-effective option, you should also consider other aspects such as the local market conditions and the property’s unique selling points.
How Much Can You Save With a Low Commission Agent/Company?
Traditional real estate agents may charge high commission fees while selling your house in New York. This reduces your profits. However, low commission agents provide the same quality services while helping you save more.
For example, if you are selling a house for $400,000, your savings with a low commission real estate agent/company will be as follows:
|Traditional Agent |
|Savings||❌ $0||✅ $6,000||✅ $4,000||✅ $2,000|
Pros and Cons of Low Commission Real Estate Agents & Companies
To decide whether real estate agents with low commission are suitable for selling your home, consider the following pros and cons:
Pros of Using a Low Commission Realtor
- Savings: Low commission Realtors can help you save on commission fees while streamlining the entire sales process.
- Technology: Platforms like Houzeo and Redfin offer technologically advanced features like online showings, marketing services, virtual home tours, etc. at no added costs.
- Do It Yourself: You have control over your listing, showings, and open houses. You can communicate and negotiate directly with the buyer’s agent.
Cons of using a Low Commission Realtor
- Selling for Less Money: You may sell your house for less than what you could have with a full-service Realtor.
- Poor Selling Experience: A discount Realtor will handle multiple clients to compensate for the reduced commission fees. This results in a lack of personalised services and post-sale assistance.
- Dual Agency: Realtors who represent both buyers and sellers are known as ‘dual agents’. The incentive to double-end a deal increases when the agents offer low commission services.
Alternatives to Low Commission Real Estate Agents & Companies
Here are some other options other for you to explore before choosing lost cost realtors:
- For Sale By Owner (FSBO): It basically means you sell your house by yourself, completely eliminating listing agent fees. Sellers with the necessary time and resources can list their house FSBO.
- We Buy Houses For Cash Companies: Companies that buy houses for cash in New York offer upfront payments within 24-48 hours. However, they typically pay 10% – 30% less than the expected home sale price.
- iBuyers: iBuyers like Opendoor and Offerpad provide full cash offers and technologically advanced platforms. This is a good option if you want to sell your house fast for cash in New York.
- Traditional Real Estate Agents: They offer end-to-end support from listing to closing. These agents offer a wide range of services at 3% or higher commission rates.
Finding the right balance between price and quality is essential while exploring the real estate market. If you are looking for cost-effective services then working with low-commission real estate agents is the best option.
They offer full-service brokerage at a slightly lower rate (around 2-2.5%). In the end, it depends on your specifics and the plans you select.
Houzeo provides you with flexibility and unique features that no other low-fee Realtor or company offers. It is entirely online and digitised, which streamlines the home selling process. Additionally, Houzeo is widely regarded as the best flat fee MLS platform and FSBO provider in the United States.
Frequently Asked Questions (FAQs)
1. What changes have the low commission real estate companies brought in the NY real estate market?
Following are the changes brought by low commission real estate companies brought in the NY real estate market:
1. More control over home sale
2. Affordable packages
3. Expedited home sale process
2. How do I find low commission real estate agents near me?
To find low commission real estate agents near you, search online for real estate agents in your area and compare their commission rates to find low-cost options.
3. Which low commission real estate agent is the best?
There are multiple factors that need to be considered when you want to find the best low commission real estate brokerage. Real estate brokerages like Houzeo, Redfin, and ListingSpark top our charts based on different features. However, the list may vary based on your requirements.
5. How to get low commission rates?
You can either negotiate with a realtor or opt for a real estate agent/ brokerages with lowest fees.
6. How low commission real estate agents make money?
Low commission real estate agents make money by charging a reduced commission percentage on the final sale price of a property. This means they earn less per transaction but aim to make up for it by handling a higher volume of sales or offering additional services for an additional fee.
Related: low percentage realtors in new york, discount realtors near me, top realtor near me, best real estate agent near me, lowest real estate commission in new york, best low commission broker in new york, low cost real estate broker in new york, real estate agents low commission in new york, low fee real estate brokerage firms in new york, minimum real estate commission in new york, flat fee listing agent, discount real estate agents in new york, low cost real estate brokerage in new york, low fee realtors in new york, lowest realtor fees in new york, discount real estate fees in new york, cheap realtor in new york, commission fees.