Gas prices are rising, inflation is the highest it’s been in over 40 years, and the last thing you want to be spending your money on as a seller is real estate commission. However, these commissions seem like a necessary evil to achieve a lucrative sale until you learn about discount real estate companies.
Discount real estate companies like Clever Real Estate and Redfin list homes for as little as 1% commission, while flat fee MLSs like Houzeo and Beycome list properties for no commission and only ask for a nominal upfront fee.
But, before you explore these options to list your property, you may want to understand what each of these discount real estate agencies offers, something we’ll do as we examine both Redfin and Clever Real Estate reviews in addition to Beycome and Houzeo reviews.
Four Discount Real Estate Companies & What Their Reviews Reveal About Working With These Companies
Although sellers are more receptive to using discount services to sell even seven and eight-figure homes, there are still only a handful of discount real estate companies that are worth a mention. This list looks at what the company offers and what the reviews say about each company’s business practices.
Clever Real Estate
Clever Real Estate only requires sellers to give their real estate agents a 1% commission at closing. What they don’t disclose is that you’ll also need to pay the buyer’s agent commission, which is typically 2.5% and non-negotiable.
Clever connects you to full-service real estate agents in your area who have agreed to work for the 1% commission. The process works much as it would with a traditional agent, except you’re making a substantial saving.
However, according to Clever Real Estate reviews, while the company may be convenient and a great help for sellers looking for a bargain, the negative Clever Real Estate reviews point to an unresponsive company, with some sellers noting that “you get what you pay for,” implying its less than what you’d expect from a full-service agent.
Redfin isn’t a real estate agency; rather, like Clever Real Estate, it is an aggregate for discount realtors to find clients and vice versa. However, Redfin takes a slightly higher percentage at closing: 1.5%. However, they offer to give an additional 0.5% back if you buy a home with them.
Their marketing shows the company is all about helping homeowners sell their properties “for more than the home next door,” which can be an exciting prospect. However, Redfin reviews tell a different story. According to many of Redfin’s most recent reviews, the company and the real estate agents they partner with have taken a nosedive.
Some sellers talk about real estate agents disappearing and never answering their calls or emails after they’ve decided to use their services or getting zero assistance from Redfin themselves when they have an issue. However, in all of the company’s reviews, sellers agree that the company’s speed is still unmatched.
Houzeo is a flat fee MLS that enables you to pay a once-off fee to get your home on the MLS. They also allow you to select how much you’re willing to pay toward a buyer’s agent commission, starting at 0.25%, which is unlike any other discount real estate company on this list.
Houzeo reviews also seem to hold the company in the best, with many sellers agreeing that the service has improved the real estate transaction and made it far more affordable to list and sell a home. Because not only are sellers saving on listing agent commission, but also buyer’s agent commission. Online, they have a consistent 4.9-star rating, making it challenging to find negative Houzeo reviews.
Beycome is the only option on this list that doesn’t operate nationwide. But in the states where it is operational — like Florida, Georgia, North Carolina, Alabama, and Connecticut — Beycome can be a formidable selection for a successful FSBO sale. As a flat fee MLS, they typically offer three listing options, with the most basic being $99 and the premium options being $499, and they divide their features among these tiers.
While most of Beycome’s reviews are positive, the company seems to fall short on customization — sellers can’t select a suitable buyers agent commission — and communication, as buyers struggle to get support from the company when they need it.
Before deciding which discount real estate agency you want to use, always do your due diligence by checking the reviews and contrasting the negative reviews with the positive reviews to see if it’s worthwhile.
All-in-all, Houzeo reviews and Clever Real Estate reviews remain the most consistent. However, Redfin’s most recent reviews indicate that now that sellers have greater choice, the company may not be offering the best service on the market.
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