If you are selling your house and want to save money on the biggest expense i.e. agent commission then working with a low commission realtor could be your best option.
-You have spent several hours going through the top Low cost real estate brokers around you and can’t wrap your head around anything? Don’t worry. Take a look at our top pics.
1. Clever Real Estate
With a listing fee of only 1%, Clever is one of the top low commission realtors. Its rate is among some of the lowest of any full-service brokerage. It is a free service and matches sellers with best-of-the-class local brokers. Clever, even negotiates savings on their behalf.
All of its partner agents offer the same services and experience one can expect from a traditional broker, however, you will save nearly half on the commission fee.
Finding top-rated brokers is easy with the company. All you need to do is answer a few questions about your house. Based on the details you provide, you will get agent recommendations straight into your inbox.
Clever’s agent-client matching team is made up of licensed agents, so they know how to match you with a good realtor basis your situation.
Also, it is not mandatory to work with Clever’s recommendations. If you don’t like any agent after you have interviewed them, you can just walk away.
The downside to working with Clever is that if you have specific brokerages in mind then the company may have limited options. Also, while the brokers guarantee full service, they might not offer premium upgrades such as home staging or drone photography without charging extra. You can check out clever real estate reviews for more information.
Houzeo is a flat fee MLS company and offers the optimal combination of maximum savings, great exposure, 5-star customer service, and the latest technology.
Sellers can save thousands in real estate commissions with Houzeo’s flat fee MLS plans. In fact, you can save even more if your buyer is not represented by a broker.
The company’s technology is completely seller oriented i.e. it simplifies the complicated process of home listing. Houzeo is completely online, which makes the entire process fast and hassle-free.
Homeowners can even get the services of a traditional realtor if they want to be assisted during the entire home-sale process.
Another popular name among low commission realtors is Redfin. It will list your house for a 1.5% commission and just 1% if you purchase with a Redfin broker as well.
The brokerage has its own team of brokers but these agents handle 3 times as many clients as typical realtors. As it sells more properties with fewer brokers, Redfin is able to make sufficient profit.
Expect the same basic services of a traditional brokerage when selling with Redfin. However, to effectively manage workload, the company divides responsibilities between several members of the team.
This implies that a single broker will not be with you throughout the home-sale journey. While this model is efficient, it is not averse to risk. The underlying theme of one of the most consistent negative reviews is communication issues that lead to a subpar customer experience.
Howzer is also a top name among Low cost real estate brokers. It charges flat listing fees of $5,000 and operates in select markets on the East Coast.
The savings on commission are quite substantial too if you are selling a costly property. For instance, if your house sells for $1 million, you are likely to save $25,000 on the listing fee versus shelling out a standard 3% commission rate.
Howzer also employs a team-based model to sell more houses. Its agents also handle 3 times more customers compared to the brokers of traditional real estate companies. It might be a flat fee company but Howzer is a full-service brokerage.
Premium marketing services and virtual home tours come without any additional cost.
However, just like Redfin, the team-based approach raises the chances of errors with Houwzer too. This is especially true in case the homeowner has a complex situation.
Besides, if your property is low-priced, you might not see any savings at all.
This low commission realtor provides a relatively lower listing fee in select markets. It employs far fewer brokers than a typical brokerage and its agents handle five times more customers than the average broker.
The savings provided by the company are real but so are the risks. When your broker is tackling five times as many clients as the average broker, you will have to compete for your agent’s attention and time.
When Low cost real estate brokers create savings using this business model, the most common complaint from customers is poor service. This might mean mistakes in paperwork, missed deadlines, or any avoidable thing that will create hassles and cost you money.
While there are several low commission realtors available, before hiring one, you should always compare different options. Weigh the potential savings versus the costs to ensure you get the best value for your requirements.