You’ve decided to sell your home. Fantastic! The next step is to find a real estate broker that will help you access the equity in your home with speed and proficiency. To do this you want the best broker, which will usually mean paying more in commission to secure their services. But that doesn’t have to be the case. Discount real estate brokers offer the same services at a fraction of the cost. Besides, you can still achieve a lucrative sale with a discount broker.
Why You Should Consider Discount Real Estate Brokers
It’s good to have a bit of skepticism before you decide to list with a discount real estate broker because you’re about to place the offloading of one of your greatest assets into the hands of a stranger. But, if you do due diligence on the real estate discount brokers you’re approaching and consider these benefits, you’ll recognize there’s no need to be hesitant.
Pay Less in Commission
Most discount real estate brokers request between 0.5% and 1.5% in commission, compared to the 3% to 4% charged by traditional brokers. That’s an average saving of $8,000.
Get Assistance Where it Matters
When using a discount real estate broker, you still get the assistance you’d come to expect from your traditional full-service brokerage. Most brokerages will assist with the listing, photographing, negotiating, and closing.
The Best Discount Real Estate Brokers
There are thousands of discount real estate brokers, but only a handful operate nationwide and even provide a commendable service. This list of the top three discount brokers should help you initiate your search.
Although Houzeo isn’t a full-service brokerage, their technology and collaboration with real estate brokers make selling using the platform as easy as it would be if you were to use a broker. Additionally, they charge a nominal flat fee, which reduces the surprise costs at closing and ensures you get to keep 100% of the profits.
Redfin charges a 1% listing commission at closing, which is far below the 4% usually asked by listing agents. Unlike Houzeo, Redfin is a traditional full-service brokerage that partners you with a local agent and displays your home on Redfin’s websites. However, on average, you can wait about 18 days for your home to appear on your local MLS as this isn’t one of Redfin’s biggest draws. Those 18 days are vital as buyer agents use local MLSs –– and not sites like Redfin –– to find properties for their buyers to view, which means getting onto the MLS as soon as possible is ideal.
Clever is a latecomer to the discount real estate broker arena, yet they provide valuable services. Like Redfin, they charge a 1% listing commission. However, you can choose to list for a flat fee of $3,000 instead. This is ideal if you have a pricier home. Using Clever, you are linked to potential brokers in your vicinity. From your dashboard, you can interview and select a broker, before signing a real estate agreement. Once you sign the agreement, you receive a full-service experience.
It’s important that before you select any discount or flat fee real estate broker, you assess their services and reputation. Not all brokers offer the same value –– irrespective of whether or not they are discounted. Your job as a seller is to find a broker that is as committed to selling your property at a lucrative price as you are.