Last Updated on January 18, 2023 by hassan abbas
If you sell your home by hiring a traditional listing agent, you have to pay 3% of your home’s sale price to just the listing agent as a real estate commission. But it’s a different story with discount real estate brokers. The best discount real estate brokers offer similar kinds of services but at a discounted rate. Find the list of the best three discount real estate brokers in the country at the end of this piece.
What is the difference between a broker, a realtor, and a real estate agent?
You know that the best way to sell your home while saving money is to list it with a discount real estate broker. Before diving deep into discount real estate brokers let us learn the difference between a broker, a realtor, and a real estate agent.
Real estate agent: A real estate agent is a person who is allowed to help home buyers and sellers in making real estate transactions. They are however not permitted to hire other agents or start a brokerage company.
Broker: A licensed real estate agent is a step higher and has got additional training and licenses with which she can hire real estate agents and start a brokerage business post which she can be called a real estate broker.
Realtor: Real estate agents that are a part of the National Group of REALTORS or NAR are called realtors. As per the Code of Ethics of NAR, realtors vow to be truthful, and honest and protect the best interests of their customers in all transactions. They can also use the REALTORS® trademark in their name.
When you are selling your home for forest time, it is advisable to hire a local real estate broker for the purpose. In the US, you can find thousands of licensed real estate agents and brokers with varying degrees of service quality.
A discount real estate broker is different from normal brokers as she offers built-in commission savings. For example, if your discount real estate broker works on a 2% listing commission, she will list and sell your house for just 2% of the total sale price against the traditional 3% rate.
How to find a good realtor?
Do you want to find a good realtor? Below are the markers you need to look for:
- Experience: In the real estate business, experience is super-important. In most cases, experience differentiates good agents from great ones. Look for the agents who have a minimum of three years of full-time real estate experience. Agents with such experience have likely closed a range of sales and they likely understand the challenges of a real estate transaction.
- Sales history: Look for real estate agents who close anywhere between 12 to 50 deals in a year. However, it doesn’t mean that the agents doing a large number of transactions per year are automatically the best person for you. It may so happen that they might provide you poor service and may be too busy to help you.
- Sale prices: Know if the agent you are hiring has experience working with buyers or sellers who were selling properties similar to your home’s price range. This indicates if they know your kind of homes and segment of the market. For example, if you are selling a basic home, you must not work with an agent who deals in luxury sales.
- Local sales: The agent you choose must have helped many other sellers from your zip code. Local knowledge is an important factor to look for in an agent. It helps agents determine if the agent can develop a good marketing strategy, provide you with important local information, arrive at a fair listing price for your home, and sell your home fast for the highest price. You must only find agents who are working in the neighborhood you are looking to sell in.
- Reviews: Customer reviews can help you separate a good agent from bad ones. You would find numerous bad reviews and signs to steer clear of bad or inexperienced agents. You can look for a pattern of reviews on websites like Zillow and Trulia.
- A smart marketer: Good seller agents do more than just putting a yard sign on your front lawn. They have contacts and get professional photos of your house taken and published, host effective open houses, and post your home on social media among other marketing tactics.
Best three discount real estate brokers in the US
Below are the best three discount real estate brokers in the US:
Houzeo has been in the flat fee MLS business since the start. It has played a huge role in transforming home sellers’ image of a real estate transaction. Houzeo is undoubtedly the #1 flat fee MLS broker in the United States. The company offers high-tech online offerings like a dashboard to accept offers, upload papers, make counteroffers, sign agreements, and connect with buyers.
It is simple to use Houzeo for making a list and making changes to it. Its packages can be accessed with one-time payments. Also, if a buyer is not represented by an agent, you get to save the buyer agent commission.
Houzeo has secured the top rating from home sellers across the United States on review sites like Google and Trustpilot. Also, you get to talk to a live person when you are on call with Houzeo. To know more about them check Houzeo reviews.
ListingSpark is among the best discount real estate brokers in the US. It is known for its ‘dollars a day’ listing wherein you need to pay USD 7 per day to stay listed on the platform and access its features. It calls itself a discount realtor as it does not ask for high commissions or big upfront flat fees. So, if you are searching for low commission real estate agents near you, ListingSpark can help you.
ListingSpark‘s premium plan consists of add-on features like photos review, showing time instruction, pricing review, etc. apart from MLS listing. You may experience delayed listing as you need to complete some steps manually before your house gets listed. The website guides you well through various steps and offers you the tools realtors use so that you can do what they do. ListingSpark also offers a strong suite of additional features like transaction coordinators and agents-hosted open houses.
Redfin is one of the best discount real estate brokers in the US that offers wide coverage and is a well-known brand. Redfin charges you a 1.5% listing fee, which drops to 1% if you buy a home with a Redfin agent as well. Redfin offers great savings on agent commission with minor customer service related disadvantages. So, if you are looking for low commission real estate agents near you, Redfin’s discounted service can suit your needs. However, Redfin’s buyer savings package falls dull as compared to other discount brokers.
If you sell a house with Redfin, your experience would be different from that of a traditional brokerage. Instead of having one agent oversee every leg of your sale, Redfin employs a team-based model making the process a little more efficient. By following this methodology, Redfin agents can handle a greater number of customers. But, there are chances of misunderstandings or mix-ups popping up during the sale.
The Redfin model works but not for everyone. If you are a first-time home seller or have a different kind of situation, other discount brokers may fit you better.
It is challenging to look for discount real estate brokers or low commission real estate agents near you with many options available. You must consider features such as listing speed, listing fees, technology, customer service, services provided, and coverage before choosing a discount real estate broker. Houzeo offers you multiple benefits and features that are online and make the process smooth sailing for you.