Homie is a virtual discount real estate brokerage with flat listing fees for sellers and commission rebates for buyers.
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Pros
- Homie charges a flat listing fee of $3,500 which is reasonable compared to the typical 3% traditional agent commission
- Homie lists your house within 24 hours
- Homie’s listings are digitized
Cons
- Homie’s services are restricted to 5 states only
- Unpredictable broker quality and lack of control over the assigned broker's competence for handling the listing
- Homie lacks in-person support so you are left to fend for yourself
Homie offers full-service discount brokerage services to home sellers and commission rebates to buyers. It is a real estate company that claims to make home buying and selling simple and affordable.
Homie offers virtual agent representation services to home sellers. However, this means you will have to compromise on the in-person support and will be left to fend for yourself.
Moreover, Homie’s customer reviews highlight that it doesn’t deliver what it promises. Many customers have complained about the lack of guidance and support by their agents. Let’s look at Homie reviews in detail.
Key Takeaways
- Pros: Homie charges a flat listing fee of $3,500 which is reasonable compared to the typical 3% traditional agent commission.
- Cons: Homie’s services are characterized by limited agent support. As a seller, you will be responsible for handling most of the groundwork.
- Our Take: We recommend Houzeo instead of Homie Realty for first time home sellers. Houzeo offers better packages, cutting-edge technology, and stellar customer service. Compare Houzeo vs. Homie.
What is Homie Real Estate?
Homie is a virtual discount real estate brokerage with flat listing fees for sellers and commission rebates for buyers.
The company claims to help home sellers save money by charging a fee of $3,500. This fee is reasonable compared to the standard 3% realtor commission. Therefore, it can lead to substantial savings, particularly if you’re selling your house at a higher price.
While Homie looks to be a great option they lack in-person agent support. This means that as a seller you will have to do most of the groundwork.
On the other hand, a local agent helps prospective buyers purchase a property listed on the MLS. Home buyers are eligible for a rebate at the time of closing. But to earn the rebate, buyers must use their in-house services like Homie Title, Homie Loans, or Homie Insurance.
Home-buying itself is a challenging task. Buying these in-house services can further pinch your pocket.
Is Homie.com Legitimate?
Yes. Homie.com is a legitimate real estate company. It was founded in 2015 by Mike Peregrina, Mike Trionfo and Johnny Hanna in Utah.
Since 2015, the real estate company has helped customers to save over 100 million dollars in unwanted commissions and fees.
Where Does Homie Realty Operate?
Homie offers its services in just 5 states. Homie Realty services are available in Utah, Arizona, Idaho, Nevada, and Colorado.
How Does Homie Work?
Listing your property with Homie is not the same as any other flat-fee MLS service provider. After paying them in thousands you have to manually do the listing.
- Signup: Click on ‘List Your Home’ on their website to start the signup process.
- Property Details: Fill in the basic information about your home and enter your payment information.
- Upload Photos: Post-professional photos of your home taken by their photographers.
- Listing Gets Published: Once you are done filling in all the details, hit publish to list it.
- 🚩 You Should Know:Your listing takes a few days to get syndicated on other sites and the MLS.
How Much Does Homie Cost?
Homie Homes will list your property for a flat fee of $3,500, saving you the 3% listing agent commission. This means whether your property sells for $350,000 or $2,500,000 million you pay the same flat fee.
However, homie.com’s offerings are not as clear-cut as they appear. In addition to Homie’s flat listing fee, you might have to pay a few additional costs. These costs could be buyer’s agent commission, title fees, and other negotiated costs.
Note that the price of the listing fee varies by state.
- 🚩 You Should Know: The buyer agent’s commission is paid by the seller, so effectively, you pay $3,500 and 2.5% to 3% of the home sale price to the buyer agent.
Homie’s Offerings
Homie offers full service at a flat fee of $3,500 to home sellers in 5 states. It also offers several other services for buyers. Let’s look at them in detail below.
Full-Service Flat Fee Package
The Full Service Flat Fee package is priced at $3,500. However, the price of the flat fee package varies by state and includes the following services:
- Syndication to Homie app/website, MLS, major real estate websites, and Facebook
- Virtual agent representation
- Professional photos and 3D tour
- Home value report
- Yard sign
- Open houses
Buying with Homie
When buying homes for sale with Homie, you will receive all the services that a traditional agent offers. You’ll get a dedicated agent who will assist you with offers, negotiations, paperwork, and closing. Let’s look at them in detail below.
- Homie Buyer Rebate: If you buy a house with Homie, you are eligible for a buyer rebate which is 1-1.5% of your agent’s commission. However, you need to use their services like Homie Title, Homie Loans, or Homie Insurance to avail of the rebate.
- Homie Cash: It allows you to make all cash offers on your dream home. You should know that you still need to get a traditional mortgage to pay back Homie Loans. This means you have two closing cost and end up spending more than necessary on one transaction.
- Homie-to-Homie: In this type deal, Homie represents both the seller and buyer. The seller has to pay a flat buyer’s agent commission depending on the state. But for the buyer, this means there is no question of buyer rebate.
Other Homie Services
- Homie Loans: Homie Loans are targeted at first-time buyers or users trying to refinance a home. However, you don’t have to buy with Homie to avail of the Homie Loans.
- Homie Title: Homie Title offers settlement services to home buyers and sellers.
- Homie Insurance: Homie Insurance is the company’s in-house insurance broker. It offers quotes for homeowners and auto insurance policies from nationally-recognized brands like Travelers and MetLife.
- Provider Marketplace: It functions as a referral network, linking up electricians, landscapers, home inspectors, and various other local contractors.
Homie Real Estate Reviews
Homie has a 4.3 out of 5-star rating on Google based on 806 reviews. Most customers have appreciated its staff’s politeness and responsiveness on Homie Google Reviews.
On the other hand, some have expressed dissatisfaction with the company’s customer service. Let’s look at Homie’s customer reviews and find out how well the product is serving the audience.
Positive Homie Customer Reviews
✅ Kenan had a good experience with Homie and their staff for being polite.
We had a pretty good experience with Homie. We were able to sell our house for the price we wanted. All our questions we had were answered in a timely manner. When it was time to close and sign the paperwork the process was incredibly smooth and fast. All the employees we worked with were amazing and very polite!
Source: Google
✅ Jacob appreciated Homie’s prompt customer support and commission-saving package.
The folks at Homie were absolutely amazing. We were a little worried about selling our first home and all the paperwork involved. Dan Hicks (our agent) was a great resource. He answered all our questions, stepped us through the process, and kept things flowing smoothly from start to finish. The staff at Homie Title made signing a breeze – we even did it all online!
Source: Google
Negative Homie Customer Reviews
❌ Max was unsatisfied with Homie as he was constantly asked to lower the price of his house. He complained their agents lacked knowledge about the selling process.
Homie’s agent came out to look at our property and told us based on the market/comps we should list for what I thought was a high price. We had only a couple showings for the 6 month listing which should have been an indication that it was overpriced. After a couple months I reduced the price by 10%, which was in the hundreds of thousands. The agent texted me and told me I needed to lower the price of my house another 25%…
Source: Google
❌ Jordan highlighted Homie’s seemingly inefficient customer service. He was unhappy with the staff as he was also asked to lower the house price. He claimed that their employees misled him.
Working with Homie in a down market will frustrate you. I had 2 buyers get my house under contract only to back out, but the agent never found out why. The only selling strategy they employed was to tell me to keep lowering the price. My agents didn’t know basic metrics like how many showings we’d had, and they kept reassuring me that my property was getting a lot of traffic, when it wasn’t…
Source: Google
Homie vs. Houzeo
For most home sellers, Houzeo offers far better value with no nickel and diming. Houzeo plans are designed so that sellers do not have to purchase any additions. This means no surprises.
Plus, Houzeo mobile app and web technology will make your listing and sale a pleasant experience!
| Homie | Houzeo | |
|---|---|---|
| Listing Fee | $3,500 Full Service Flat Fee | $379 Flat Fee |
| Customer Rating | 4.3 stars (806 reviews) | 4.9 stars (4,523 reviews) |
| Coverage | 5 states | 47 states + Washington D.C. |
| Unlimited Listing Changes | ❌ | ✅ |
| Showings Management | ❌ | ✅ |
| Offer Management | ❌ | ✅ |
| Counter an Offer | ❌ | ✅ |
| Request Highest and Best Offer | ❌ | ✅ |
| Home Inspection Dashboard | ❌ | ✅ |
| Leads Dashboard | ❌ | ✅ |
Where Does Homie Offer Its Services?
Homecoin offers its services in just 5 states.
✅ Advantages of Using Homie
- Low Flat Fee: Homie provides full service at a flat rate fee of $3,500. So, you save money on agent commissions which are usually 2.5% to 3% of the home sales price.
- Quick Listing: Homie lists your house within 24 hours from the time you submit your property details.
- Digital Automation: Homie’s listings are digitized. You can fill out the listing documents instantly. This makes the home-selling process easier.
⛔ Disadvantages of Using Homie
- Limited Agent Support: Homie’s agents work with a large volume of clients which makes it hard for them to support everyone. This makes it difficult for them to offer personalized services.
- Unpredictable Service Quality: Their quality of service is unpredictable as their agents cater to numerous customers. Marketed as “experienced” agents, you may get stuck with a newcomer who can fail to offer personal guidance.
- Limited Coverage: Homie’s services are restricted to 5 states only. So, home sellers living outside their coverage area cannot avail of their services. Whereas, Houzeo covers 47 states and DC, offering near-nationwide coverage.
Homie Customer Service
Here’s how you can reach out to Homie customer service:
📍 Address: Jordan, Utah
📞 Contact Number: (385) 429-6888 #1
💻 Website: info@homieloans.com
Homie Alternatives
We recommend three alternatives for Homie Real Estate that offer better services at affordable rates:
- Houzeo: Houzeo is one of the best FSBO websites in America that lets you list your home on the MLS in just 24 to 48 hours. Here, you have complete control over your listing and can access the most advanced technology for just $379.
- Redfin: Redfin is a discount real estate broker that offers to sell your home for a listing commission of 1.5% of the sale price. They serve 100+ real estate markets across 49 states.
- Traditional Brokerage: Traditional real estate brokers charge a listing fee of 5% to 6% to sell your house. They provide support throughout the home-selling journey from list to close.
Other Options You Should Consider
- Sell to an iBuyer: Many iBuyers, like Opendoor and Offerpad, purchase hundreds of homes available in the market. iBuyers can be a great option if you’re wondering how to sell your house fast.
- Sell to Cash Home Buyers: Individual companies that buy houses for cash make all-cash offers, usually within 24 to 48 hours. Cash buyers let you skip the hassle of listing on the MLS, inspection, appraisal, etc.
- Sell For Sale By Owner: For Sale By Owner websites will help you list and sell a house by owner and save thousands in listing agent commission. Many FSBO websites will also get you listed on the MLS and help you with FSBO paperwork.
Is Homie Worth it?
We recommend Houzeo instead of Homie Realty for first-time home sellers.
While the $3,500 flat fee may seem attractive, their service quality is subpar. Moreover, Homie’s limited coverage may make it difficult for many Americans to benefit from their full-service flat fee package.
If you want to do away with the unpredictable service quality, listing on Houzeo is your safest bet. Houzeo’s Gold Package is comprehensive and affordable, making your home-selling experience a breeze!
Frequently Asked Questions
1. Does Homie list on the MLS?
Yes, Homie.com lists your property on the MLS for a flat fee of $3,500, saving you the 2-3% listing agent commission.
2. Is Homie only in Utah?
No. Homie Realty launched in Utah, but it also operates in four other US states including Arizona, Idaho, Nevada, and Colorado.
3. What is Homie cash?
Homie Cash is a program that allows buyers to make all-cash offers to improve their chances of winning the perfect home. Learn more about Homie Cash here.
4. Are there hidden fees with Homie?
No, Homie Realty has no additional or hidden fees. But its flat listing fee of $3,500 is too high as compared to other discount brokers in the US real estate market.
5. How much does Homie cost?
You have to pay a flat fee of $3,500, which varies by state. Apart from the listing fee you also have to pay for the buyer agent commission.
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