Whether you’re selling a luxury condo in Florida or a single-family home in Washington, you will spend a whopping 6% in commissions. But a 1% REALTOR can help you save on your commission expenses.
As the name suggests, 1% Realtors are discount brokers who work at 1% realtor commission. They offer all the services of a traditional Realtor at discounted rates.
🚀 Key Takeaways
- You can save thousands of dollars by reaching out to a 1% Commission REALTOR.
- Some 1% listing agents provide a set package of services while some offer full service but with less hand-holding.
- Many 1% Commission agents add up hidden charges at the time of final payments. That is when you need to check out Houzeo’s Flat Fee services.
Rankings: Top 1% Real Estate Commission Companies
We have compiled a list of top 1% REALTORS to help you make an informed decision.
| Company | Listing Fees | Max Savings | 100% Online | 5-Star Reviews* |
|---|---|---|---|---|
| Houzeo | $349 Flat Fee | ✅ | ✅ | ✅ |
| Redfin | 1.5% Commission | ❌ | ❌ | ❌ |
| SimpleShowing | 1% Commission | ❌ | ❌ | ❌ |
| Prevu | 1.5% Commission | ❌ | ❌ | ✅ |
| ListingSpark | 0.5% Commission | ❌ | ❌ | ✅ |
Reviews: Top 1% Real Estate Commission Companies
1. Houzeo.com
#1 Flat Fee MLS Service
Houzeo.com
- Listing Fee: $399
- Available nationwide
4.9/5
(5,000+ reviews)
4.9/5
(5,000+ reviews)Houzeo offers 4 Flat Fee MLS packages.
- Bronze Package – $329+: This package offers Houzeo listing only for 6 months with maximum photos.
- Silver Package – $399+: This includes everything that home sellers typically look for.
- Gold Package – $379+: It is Houzeo’s signature MLS package and includes all the technology Houzeo is known for Houzeo Showings, Houzeo Offers, and DigiTransact.
- Platinum – $349+: It includes the assistance of a licensed broker to help you with negotiations, disclosures, and closing.
👉 Our Take: We recommend the GOLD plan. You’ll have access to Houzeo tech, making managing showings and offer negotiations easy! Confirm all prices on the state’s pricing page before you list.
» Houzeo Reviews: Houzeo is 100% online. You can finish listing formalities in less than 60 mins.
Houzeo is America’s #1 Flat Fee MLS service because of 4 reasons:
- Max Exposure: Houzeo MLS packages give you access to the MLS, Zillow, Trulia, Realtor.com, Redfin, and 100s of other websites.
- 5-star Customer Service: Houzeo has a fully staffed customer service desk available 6 days a week. Chats and emails are open 7 days a week. This is rare in today’s world.
- 100% Online: Houzeo is high-tech. For you, this means easy listing, fast changes, online showings, and online offers. Houzeo mobile app is also very powerful.
- No Hidden Fees: In most states, you’ll be paying just a small flat fee to list on MLS by owner. And remember, all fees are disclosed upfront, so there are no Houzeo hidden fees. You get to bypass the listing agent commission.
There are no dealbreakers with Houzeo.
» Is Houzeo Good? Houzeo addresses all Houzeo complaints from home sellers.
Houzeo is rated 4.9 out of 5 stars by thousands of home sellers on Google & Trustpilot.
» Houzeo Reviews: Houzeo is rated “Excellent“ by 5,000+ home sellers.
Houzeo.com is a top-ranked Flat Fee MLS service. Houzeo provides an unbeatable combination of max savings, 5-star customer support, and cutting-edge technology.
Although it isn’t a 2% commission company, you can still save thousands by listing with Houzeo! Listing with Houzeo gets you a personalized dashboard, a 100% online platform, and timely customer service—at a flat rate.
2. Redfin
BEST TECH-ENABLED BROKERAGE
Redfin.com
- Listing Fee: 1.5% of sale price
- Available in 80+ U.S. Markets
- 3.3/5
(372 Reviews)
3.3/5
(372 Reviews)Redfin is one of America’s top discount real estate brokerages. This low-commission broker specializes in home buying. Redfin.com’s technology is what sets it apart from all other platforms.
- Redfin Full-Service Agent – 1.5% Commission: This is a full-service package. This includes pricing assistance, listing paperwork, negotiation support, etc.
- Redfin Concierge – 2.5% Commission: The “Concierge” plan includes everything from the Full-Service package. Additionally, it includes services like professional cleaning, home staging, and more.
- Redfin Premier Agent – 1.5% Commission: This package is exclusively for luxury properties and includes everything that comes with the Full-Service package.
👉 Our Take: We recommend Redfin’s concierge service. This service enhances the value of your house with a professionally managed design plan and no upfront fees.
» Selling With Redfin: Is it worth selling with Redfin?
Here are some advantages of choosing Redfin:
- Advanced Technology: Redfin is primarily known for its advanced tech platform and mobile app.
- Full-Service Agents at Low Commission – 1.5%: Redfin’s full-service package is priced at 1.5%. It saves you thousands compared to the traditional 3% listing commission.
- Buyer Rebate – 0.5%: Clients who sell and buy with Redfin within one year get a rebate of 0.5% in the second transaction. However, this offer is available with the Full Service Plan.
- Detailed Paperwork: Redfin provides the necessary paperwork and an elaborate listing agreement with a marketing plan.
- Nationwide Coverage: Redfin covers 80+ markets in the US.
» What is Redfin? Is it truly a smart choice to choose them? Read the comprehensive review to know more!
In our research, we found some red flags of Redfin, that could make your experience less satisfactory.
- Lack of Personalized Services: Customers have often complained that Redfin agents are not able to give personalized service, as they serve a high volume of clients.
- Poor Customer Reviews: Customers have complained that agents are often unreachable and unprofessional.
- Slow Listing Process: According to Redfin’s listing agreement, a Redfin property takes 18 days to list on MLS. Services like Houzeo will list you on the MLS within 24 to 48 hours.
- Limited Agent Selection: As per customer reviews, Redfin lacks an array of agents. This means you get an agent assigned automatically without having any choice in the matter.
- Agents are Less Incentivized: Unlike traditional agents who work for commission, Redfin agents get a fixed salary. This can demotivate them from offering you additional services.
» Redfin hidden Fees: Check this out to learn more about their hidden fees.
Redfin has an average rating of 3.3 out of 5 stars on Consumer Affairs.
» Redfin Reviews: The Reality of 1% Fees, Pros, Cons, & Alternatives!
Redfin is one of the most popular discount brokers in the US, primarily known for it’s mobile app. The company gives you advanced tech support and full-service agents for a 1.5% commission.
It takes 18 days to list your property on the MLS via Redfin. On the other hand, Houzeo lists your property within 1-2 business days, saving valuable time.
Before you choose Redfin, make sure to check out its reviews online. Most of the reviews complain about the agent’s inconsistent services.
3. SimpleShowing
LIMITED SAVINGS
Simple Showing
- Listing Fee: 1% of sale price
- Restricted coverage
- 4.9/5.0
(125 reviews)
SimpleShowing, like any other low-cost real estate broker, matches sellers with real estate agents.
Simple Showing for Home Sellers
- Listing Agent Commission – 1%: A SimpleShowing agent provides full-service MLS listing at a 1% commission rate. The premium lockbox charges will increase your costs.
Simple Showing for Home Buyers
- Buyer’s Rebate: SimpleShowing rebates your closing costs up to 1% of the purchase price or $5,000 on average. However, to be eligible for the refund, you must use SimpleShowing as your buyer broker.
👉 Our Take: We recommend Simple Showing for their Buyer’s Rebate Program. But Simple Showing has a minimum fee charge that could be higher than the advertised 1%.
SimpleShowing is a decent option when buying or selling a property.
- Easy Property Search: SimpleShowing provides a home search experience at your fingertips. You can look for properties and book home tours on their website, saving time and money.
- Professional Photography: They coordinate professional photos and videos of your home at no additional charge..
- Dedicated Agents: From home valuation and developing a marketing strategy to negotiating offers and closing, their agents will always assist you.
During our research, we found a few red flags with Simple Showing.
- Buyer’s Rebate Eligibility: The buyer is eligible for a rebate only if the buyer uses SimpleShowing as their Buyer Broker.
- Lender’s Approval: Some lenders may not allow buyers to receive a refund from SimpleShowing. Lenders consider contracts, mortgage products, and pricing policies to allow the buyer to receive full or a part of the rebate amount.
- Limited Coverage: Simple Showing provides services in only 3 states – Florida, Texas, and Georgia.
SimpleShowing has a 4.9 out of 5 stars from 125 total reviews on Zillow.
SimpleShowing provides a great experience with its top-notch brokerage services. You can trust its team of experienced local agents for your real estate process.
They also charge $3,5000 as their minimum fee. Only buyers who hire agents through SimpleShowing are eligible for a refund. The buyers rebate also requires the lenders clearance.
4. Prevu
RESTRICTED COVERAGE
Prevu
- Listing Fee: 1.5% of sale price
- 5.0/5.0
(455 reviews)
5.0/5.0
(455 reviews)Prevu is a full-service low commission brokerage based in New York that aims to change the old-school ways of the real estate market.
- Listing Agent Commission- 1.5%: Prevu charges a lower commission of 1.5%. It offers a full-service package at a low commission rate.
👉 Our Take: Prevu’s listing price is lower than traditional realtor commission, but it is still higher than other low-commission real estate companies.
» Prevu Reviews: Read our review of Prevu Real Estate & decide if it’s a good choice for you.
Prevu is a decent option when you are buying or selling a property.
- Qualified Agents: Prevu’s qualified agents provide real estate services at low commissions.
- Buyer’s Rebate: Buyers get a commission rebate of 2% of the purchase price.
- Serve a High Volume: Prevu relies on its team to serve a high volume of clients to offer discounts.
You should know about a few red flags that Prevu has. This can make your experience less satisfactory.
- Additional Charges: Buyer’s agent commission is not included in Prevu’s listing fees. This commission is up to 2.5%-3 % of the sale price.
- Limited Agents: Prevu’s team is small and its agents deal with higher volume. So you have limited options when it comes to selecting an agent.
- Lack of Personalized Experience: Since Prevu’s team handle a higher volume, the agents won’t be able to provide personalized services.
- Limited Coverage: Prevu Real Estate serves 6 states only- New York, Massachusetts, Connecticut, California, Pennsylvania, and Washington.
Prevu has 5.0 out of 5 Stars from 455 reviews on Google.
» Prevu Reviews: Read our review of Prevu Real Estate & decide if it’s a good choice for you.
Prevu has highly qualified agents to provide seller’s real estate services at a low commission rate . It also offers one of the most significant commission rebates for buyers.
Prevu has a small team of agents who deal with a higher volume of clients. This limits the options of selecting an agent you prefer.
5. ListingSpark
GREAT FEATURES
ListingSpark
- Listing Fee: 0.5% of sale price
- 5.0/5.0
(297 reviews)
ListingSpark is one of the top discount real estate brokerages with its seller-centric all-in-one platform.
- Spark Plan – $1,499: It offers MLS listing and website syndication, professional photography, marketing assistance and paperwork assistance. You pay $250 upfront and the rest while closing.
- Premium Plan – $2,999: With this package you get an agent on demand, pricing assistance, premium photography package and an E-flyer blast. You pay $500 upfront and the rest while closing.
👉 Our Take: ListingSpark is a good option as it offers a range of features for home sellers at a reasonable price. It’s seller-centric approach though does leave more to be desired for home buyers.
» ListingSpark Reviews: Is the $7/day fee worth it?
ListingSpark is a decent choice when you are looking for a low-commission agent.
- Paperwork: ListingSpark provides paperwork for the entire selling process.
- Marketing Strategy: ListingSpark’s software runs 150 unique marketing strategies to find the perfect buyer for you.
- Automated Services: ListingSpark’s automated contract software does all the paperwork on your behalf.
- Closing Cost Calculator: It also provides a closing cost calculator which helps you to calculate the seller’s net sheet.
- Property Search Feature: Property search feature is also available to make the process of home search easy.
There are a few red flags with ListinSpark’s services. This can make your experience less satisfactory.
- Extra Charges: ListingSpark charges additional fees such as a $196 termination fee, $350 transaction co-ordination fees.
- Agent on Demand: With the Spark Plan, you have to pay extra to hire one of their real estate agents $975.
ListingSpark has 5 out of 5 Stars from 297 reviews on BirdEye.
ListingSpark has automated software that does all the paperwork on your behalf. All you need is to sign it. ListingSpark provides a closing cost calculator to evaluate the seller’s netsheet.
ListingSpark charges additional amounts to access its service packages. To hire a real estate agent you have to pay an extra amount of $975. The agent will help you with negotiations, pricing, and contract compliance.
How Does a 1% Real Estate Commission Work?
In a traditional real estate transaction, you will generally pay up to 6% average real estate commission.
Opting for a 1% Commission Realtor helps you save more money. The seller’s agent fees and buyer’s agent fees will bring down your total rate to 3.5% to 4% of the final price. This gives you almost 2% to 2.5% in savings.
How Much You Can Save With a 1% Commission Realtor?
Although it may seem like a small fraction, 1% commission can help you save thousands! Your total savings depend on the listing price of the house. Higher sale price = greater savings!
Here is a table showing how much you can save working with a 1% commission Realtor.
| Selling Price | 1% Realtor Commission | 6% Realtor Commission | Total Savings |
|---|---|---|---|
| $250,000 | $10,000 | $15,000 | $5,000 |
| $500,000 | $20,000 | $30,000 | $10,000 |
| $750,000 | $30,000 | $45,000 | $15,000 |
*Calculated using a 2% listing fee and a 3% buyer’s agent commission.
Who Should Opt for a 1% Commission Realtor?
Sellers who prioritize savings should consider low-commission real estate agents. They usually provide a similar level of services as traditional Realtors but at a discounted rate. This could mean BIG SAVINGS. However, it may not necessarily be true.
📌 Low commission rates do not always lead to greater discounts.
The average commission rate varies nationwide and certain states charge hefty minimum fees. Thus it’s essential to look into the various charges applicable in your state before selecting a real estate agent.
How to Choose a 1% Commission REALTOR?
Here are some of the factors to consider while choosing a 2% commission Realtor:
- Pricing: Most 1% real estate companies charge minimum fees as part of the commission. Research 1% realtors in your area to know how much you would shell out.
- Technology: Choose a 1% company with cutting edge technology that can provide you with a digital dashboard to manage your transactions.
- Quality of Services: Interview multiple real estate agents from different companies to understand who offers the best services. You can also read agent reviews online on platforms like Zillow and Realtor.com.
Why Would an Agent Agree to 1 Percent Commission?
Here are some reasons due to which agents work at 1% fee:
- It’s a Hot Seller’s Market: In a seller’s market, the commission rates tend to drop slightly. A low supply of inventory leads to greater competition for listings. This forces agents to reduce their commission rates to get more listings.
- The Agents Lack Experience: Beginner agents with no solid sales history might agree to lower rates. This helps them attract more home sellers.
- The Agents Deals in Luxury Properties: Luxury real estate agents make tens of thousands even at low commission rates. For example, a 1 percent commission agent will earn $40,000 for a property sold at $4 million.
Also, most traditional Realtors and open to negotiating their rates. Thus you don’t necessarily have to compromise on the quality of the services while saving a lot of money.
Risks of Using a 1% Commission REALTOR
- Low Quality Services: Most 1% commission Realtors work with broker franchises. The quality of the service you receive will highly depend on your choice of franchise. There’s no guarantee of good quality service.
- Lack of Personalised Service: During our research, we came across customer complaints about the lack of availability of agents. This is generally because low commission agents have to handle multiple clients at once. This leaves them with less time to devote to each client.
- Minimum Fees/Hidden Charges: Some real estate companies charge minimum fees as a part of their real estate agent commission. You might have to pay more than the advertised 1% commission rate at the time of closing.
Alternatives to 1% Commission Realtor
- Flat Fee MLS Companies: Flat Fee MLS companies charge a standard rate to list your home on the MLS, an online database of homes in your region. The fees are usually set between $179 – $399.
- Hire a Discount Real Estate Broker: Discount real estate brokers offer all the services of a traditional broker for a discounted commission. Typically, discount brokers will charge between 0.5% – 2% commission for buying or selling your house.
- Negotiate With Your Agent: Negotiating with the agent is always on the table. Standard 2.5% – 3% rates are not that different from 2% commission. Thus negotiate with your local agent to get a discounted rate.
- Sell to an iBuyer: Many iBuyers, like Opendoor and Offerpad, purchase hundreds of homes across U.S markets. iBuyers can be a great option if you are wondering how to sell my house fast.
- Sell to Cash Home Buyers: Individual cash buyers and companies that buy homes for cash in the U.S, make all cash offers, usually within 24 – 48 hours. Cash buyers let you skip the hassle of listing on the MLS, inspection, appraisal, etc.
Final Word
To sum it up we can say that you can save thousands of dollars with a 1% realtor. This commission is 1% of the final sale price of the property. There are a few alternatives to a 1% commission realtors, present in the market as well.
These REALTORS need to work out some factors to stand out in the real estate market like, professionally handling marketing, dealing with legal formalities, and closing the deal efficiently.
Frequently Asked Questions
What is a 1% commission realtor?
A 1% commission realtor is an agent or brokerage that will sell your house for 1% of the final sale price. In other words, if your home sells for $400,000, you would pay your realtor a $4,000 commission, not including the buyer's agent fee.
What is the lowest commission a realtor will take?
Using a low commission agent can save you several percentage points on the sale price of the home. Their fee typically ranges 1 to 1.5 percent, compared to the national average of 5.37 percent. Continuing the example of the $300,000 home, the savings is more than $10,000.
What commission do most realtors charge?
The average real estate commission is 6 percent of a home's purchase price, which is split evenly (3 percent each) between the buyer's agent and the seller's agent. However, the typical percentage has been lowering over the years, and the average Realtor commission is 5.37 percent according to Clever.
Is 1% a good estate agent fee?
You should be suspicious of estate agents charging less than 1% – there's usually a reason they're cheap. You should always choose no sale, no fee – estate agents only sell about 50% of properties on their books, so don't flip a coin on such a significant spend.
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