Top 5 Discount Real Estate Brokers in Chicago, IL (2024 Updates)

✏️ Editor’s Note: Realtor Associations, agents, and MLS’ have started implementing changes related to the NAR’s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. Learn how NAR’s settlement affects home sellers.

Sellers across Chicago can save thousands on real estate agent commissions. With discount real estate brokers in Texas, you can slash the traditional 6% rate down to just 2% to 3%.

The current median home price in Chicago is $370,000 The traditional 6% commission will cost you a whopping $22,200. A discount Realtor offers you similar services at just 1.5%. With a competitive buyer agent commission of 2.5%, you now have to pay only a 4% fee. That’s just around $14,800.

You can lower this amount to around $11,100 if you list on the MLS with Houzeo’s Gold plan. You also get the professional services and tools available to real estate agents at a fraction of the cost.

Rankings: Best Discount Real Estate Brokers and Companies in Chicago

Rank	Discount Real Estate Broker / Company	Listing Fee	Additional Charges	Max Savings	100% Online	5-Star Reviews*	Mobile App
1.	Houzeo	$349 Flat Fee	❌	✅	✅	✅	✅
2.	Johnson Realty	$500 Upfront + 0.5% commission	❌	✅	❌	❌	❌
3.	Lucid Realty	1%-2.5% Commission	❌	✅	❌	❌	❌
4.	Redefy	$3,500 Flat Fee	❌	❌	❌	✅	❌
5.	UpNest	1.5% Commission	❌	❌	❌	❌	✅

Reviews: Best Discount Real Estate Brokers & Companies in Chicago, IL

1. Houzeo

#1 Discount Real Estate Service

Houzeo.com

Listing Fee: $399
Available nationwide
4.9/5 (8,400+ Reviews)

💲 Pricing

Houzeo is a top technology-driven real estate platform. It offers 4 different packages:

Bronze Package ($399 + $350 at Close): List your house for 6 months. You can upload 24 house photos.
Silver Package ($399+0.5% at Close): List your home for 6 months and post maximum photos. Unlimited open houses and listing modifications are included in this package.
Gold Package ($429+0.5% at Close): This package offers all the benefits of the Silver package, as well as licensed broker assistance, contract review, and more.
Platinum Package ($449+1% at Close): This package offers virtual full-service support with a licensed broker. You can list for 12 months. Brokers assist you in negotiations, disclosures, and closing.

👉 Our Take: We recommend Houzeo to all home sellers. The company has an excellent customer rating of 4.9 out of 5 stars. It has extensive coverage across 47 states + DC, a feat achieved by only a handful of other services.

» Houzeo Reviews: Houzeo is 100% online. You can finish listing formalities within 60 minutes.

⚡ Highlights

These are the key features that make Houzeo one of the top discount real estate brokers:

Significant Commission Savings: You will pay just a small flat fee to list on the MLS. On average, home sellers who used Houzeo saved $11,490.
No Hidden Fees: All costs are disclosed upfront so you don’t have to worry about hidden charges.
Near Nationwide Coverage: Houzeo operates in 47 states and DC, with ongoing plans for expansion.
Max Exposure: Houzeo packages give you access to renowned MLS companies.
Advanced Technology: Eliminate the hassle of extensive paperwork. E-signature and online forms make house listing quick and easy.
5-star Customer Service: Dedicated customer support addresses your every concern easily.
Mobile App: Houzeo’s mobile app lets you manage showing requests from verified buyers and buyer agents. You can either accept, reject, or reschedule showings at your convenience.
Home Value Estimator: Houzeo’s Home Worth Estimator is online and quick to know the FMV of your home. It provides free home value estimate within 30 seconds.

🚩 Deal Breakers

There are no dealbreakers with Houzeo.

» Houzeo Reviews: Houzeo is rated “Excellent” by 8,400+ happy customers on Google Reviews and Trustpilot!

⭐ Reviews

Houzeo Reviews: With over 8,400+ happy customers, Houzeo is the most trusted discount real estate broker.

Houzeo is America’s #1 ranked real estate brokerage company. It provides an unbeatable combination of max savings, 5-star customer support, and cutting-edge technology.

Houzeo’s flat fee feature helps you save thousands on agent commissions. You also get dedicated customer support that makes the home-selling process much easier and effortless.

2. Johnson Realty

HYBRID PLAN

Johnson Realty

Listing Fee: $500 Upfront Fee + Half of 1% at Closing.
No credible sources found

💲 Pricing

Johnson Realty is a full-service discount brokerage. It helps sellers to list their property at a fair price with great savings.

The Johnson Plan ($500 Initial fee + Half of 1% at Closing): You need to pay the upfront charge of $5oo to list your house. Lockbox and professional photographs are offered at an additional cost of $120 and $50 respectively. At the time of closing, you pay Johnson Realty half of 1% of the home sale value.

👉 Our Take: Johnson Realty provides services like market analysis, MLS listing, showings, etc. It charges you a fee apart from the initial charge of $500. You may end up paying a higher amount at the time of closing compared to another discount brokerage.

⚡ Highlights

Johnson Realty offers the following advantages:

Unique Plan: Johnson Realty’s pricing plan includes a$500 flat rate + 0.5% of 1% of the sale price.
Modern Technology: Their technology allows you to keep the real transaction transparent. The contract between you and the agent is also signed digitally.
Market Exposure: Your home will be featured on several real estate websites like Zillow, Trulia, and Realtor.com.
Agent Assistance: Johnson Realty’s licensed consulting team will help you execute your transaction through closing.

🚩 Dealbreakers

Johnson Realty offers a major disadvantage:

Outside Agent Involvement: A third-party agent schedules the MLS showings. There might be inconsistencies in the quality of these agents.

⭐ Reviews

There is no credible source available for its review.

Johnson Realty is one of Illinois’ highest-selling brokers. You can avail yourself of an extra discount if you sell your home and buy a new one with them. An outside agent from another company will schedule the showing through the MLS.

There may be discrepancies in the quality of these agents.

3. Lucid Realty

GREAT LOCAL EXPOSURE

Lucid Realty

Listing Fee: 1%-2.5% Commission
5.0/5.0 (25+ Reviews)

💲 Pricing

Lucid Realty is a full-service discount brokerage. It offers a pricing plan that helps you sell your house with less commission.

For Home Sellers

Commission (1% to 1.25%): Lucid Realty provides its listing services with a commission between 1% to 2.5%. It includes services like a single point of contact, professional photographs, yard signage, etc.

For Home Buyers

Buyer Rebate: Lucid Realty offer rebate that vary from 20% to 50% of their commission.

👉 Our Take: Lucid Realty offers full-service brokerage at a much lower commission. It follows a sliding scale service method where your expensive house makes you save more. However, you may consider other flat-fee brokerages that would eventually make you pay less.

⚡ Highlights

Lucid Realty offers certain advantages:

Agent Assistance: You will be assigned a single agent throughout your home-selling process. He will guide you in your home inspection and appraisal procedure too.
Local Exposure: Lucid Realty lists your house on the local MLS to get better exposure. This helps to sell your house fast.
Sliding Scale for Commission: It offers a special sliding scale service in which the commission drops as the value of the house rises.
Exclusive Marketing Plan: Lucid Realty evaluates your house’s key features and provides suggestions for the same. It also gives you price recommendations and guidance on market analysis.

🚩 Deal Breakers

Lucid Realty has certain disadvantages:

Fluctuating Commission: The commission percent is not fixed. It may go to 1.25% which is higher than another discount brokerage.
Coverage: It offers services only in the Chicago suburbs and its neighborhoods.

⭐ Reviews

Lucid Realty has a rating of 5 out of 5 stars on Yelp.

Lucid Realty was established by Mr. Gary Lucido and Ms. Sari Levy. It is a licensed full-service brokerage headquartered in Chicago.

A single agent serves you throughout your real estate transaction. He will provide you with feedback following each showing, continuous market assessment, and pricing recommendations. This could be the best option to sell your high-priced house.

4. Redefy

IN-HOUSE SUPPORT

Redefy

Listing Fee: $3,500 Flat Fee
In-person support
4.1/5 (40+ Reviews)

💲 Pricing

Redefy is one of the renowned discount real estate companies in the US. It offers 3 packages at a flat fee:

Self-Service ($379): You get a 6-month listing period. This includes local listing, yard sign, 10 photos on the listing, etc.
Limited Service ($499): Here, you get a 1-year listing period. This package includes a local listing, door key lock box, 25 photos on the listing, etc.
Virtual Full Service ($2,995): This premium package offers personal consultation, full customer support, extensive marketing, etc.

👉 Our Take: Redefy offers different pricing models that suit your needs. It offers all the necessary services you need to close the sale. Along with a low flat fee, it charges you a non-refundable fee of $500. This increases the value of the package.

⚡ Highlights

Redefy offers:

Affordable Pricing: You need to pick the package that suits your requirements. Although features like local listing, email, text & live chat support, yard signs, and door lock keys remain constant throughout.
In-House Support: You are provided with professional in-house support like home staging with accurate pricing.
Mortgage Calculator: Redefy’s Mortgage Calculator allows you to estimate your overall mortgage, insurance, and taxes.

🚩 Deal Breakers

The disadvantages with Redefy are:

No Refund Deposit: You have to pay a non-refundable deposit of $500.
Inconsistent Agent Quality: Redefy has limited agents attending to a large volume of customers. This can hamper the service quality.
Service Coverage: They serve only 9 states in the US (Colorado, Florida, Georgia, Illinois, North Carolina, South Carolina, Tennessee, Texas, and Virginia)

⭐ Reviews

Redefy has a rating of 4.1 out of 5 stars on Yelp.

Redefy is a discount real estate brokerage introduced in 2011. It is headquartered in Aurora, Colorado.

It is a licensed firm that works on the principle of a flat fee. This means for your million-dollar house you just pay a flat rate. You also need to pay $500 as a non-refundable deposit. This increases your overall package cost.

5. UpNest

Negotiable FEES

UpNest

Listing Fee: 4.3% of the Sale Price (or as decided by the agent)
Available in all major cities
4.7/5 (295+ Reviews)

💲 Pricing

UpNest is a marketplace that connects home sellers and buyers with local agents.

Pricing: UpNest does not charge you any upfront fee. It allows their agents to discuss the pricing with you like commission, fees, discounts, etc.

👉 Our Take: UpNest introduces you to 2 to 3 agents once you register on their platform.

» Is UpNest Legit? Find out if UpNest can be the best option for your house sale.

⚡ Highlights

UpNest offers certain advantages:

No Fees: UpNest does not charge you an upfront commission. Instead, you are introduced to an agent to discuss the services and commissions.
User-Friendly Dashboard: It has a user-friendly dashboard which makes it easy to compare agent profiles.
No Obligation Service: UpNest connects you with multiple agents as soon as you sign up with them. If you are not satisfied, then you can simply walk away.
Nationwide Coverage: It offers service throughout the US. It connects you with the local agent who has current market insights.

» What Is UpNest? Read the comprehensive study for UpNest to learn more details!

🚩 Deal Breakers

UpNest has certain disadvantages:

Lower Savings: The commission depends on your negotiation with the agent. A higher commission fixed would make you pay more.
Uncertain Customer Service: Some customers share feedback of agents being extremely helpful and knowledgeable. However, less experienced agents struggle to answer simple questions.

» How Does Upnest Work? Agent-matching at UpNest is pretty straightforward. Check it out!

⭐ Reviews

UpNest has a rating of 4.8 out of 5 stars on Google.

» UpNest Reviews: How much will it save you in 2024?

UpNest connects you with agents in your area by utilizing technology and market data. They partner with top agents from leading national brokerage firms across the U.S.

However, your savings are not guaranteed. Your ability to negotiate would be the key factor in the deal. In other words, you may end up paying more commission, or discount rates won’t go low as you expected.

What Are Discount Real Estate Brokers and Companies?

Discount real estate brokers are companies or agents who sell your home for less than the standard 2.5% to 3% commission. Such low-cost real estate agents typically offer the same services for reduced fees of 0.5% to 2% or a flat fee.

How Much Can I Save With a Discount Realtor in Chicago?

As a seller, you can save anywhere between $10,000 and $20,000 depending on the worth of your home.

Typically, home sellers pay a total of 6% as Realtor commissions to both the listing agent and the buyer’s agent. Whereas, with discount real estate brokers you can pre-negotiate this at 1% to 2%.

As a home buyer, you get a buyer’s rebate – a type of cashback received after the sale. A typical buyer rebate is 1% to 2% of the home’s purchase price. For example, Redfin offers a buyer rebate of 0.5% to clients who sell and buy with Redfin within 1 year.

Types of Discount Brokers in Chicago

The four major types of real estate discount brokerages and companies in Prairie State are as follows:

1. Flat Fee MLS Companies: Flat Fee MLS companies get you on the MLS for a small flat fee saving you thousands in commissions. The Best Flat Fee MLS listing companies like Houzeo can get you on the MLS within 24 hours, or even faster!

2. Flat Rate Full-Service Companies: These companies charge a fixed fee instead of the regular 3% commission. This amount can be anywhere between $3,000 and $5,000. A flat-rate Realtor is perfect for homes priced on the higher end.

3. Low-Commission Estate Agents: Low-commission discount brokers offer full-service packages at only 1% or 2%. They cover everything from listing, negotiations, and pricing. They are also called 1% commission Realtors, or 2% commission brokers, etc.

4. Virtual Full Service: A virtual full-service discount broker handles everything online. All services including negotiation and marketing support are at no additional cost.

Pros and Cons of a Discount Realtor

Here are the pros and cons of discount Realtors:

Pros ✅

Reduced Fees: You’ll pay less for listing agent fees. While standard brokers typically charge at least 3%, discount brokers may charge as little as 0.5% to 1%.
Full Access to Basic Services: You receive the same services as you would with a traditional agent. They assist with home pricing, marketing, and negotiations.
Streamlined Process: A low-cost Realtor provides similar services as traditional agents. They streamline the process of listing your property on the MLS, marketing the property, negotiating offers, and assisting with paperwork.

Cons ❌

Not Enough Savings: Some discount brokerages may charge hidden fees or sell their services a la carte. This might add to your expenses.
Not for First-Time Sellers: Most discount real estate brokerages are digital, so you rarely talk to anyone in person. A first-time seller or buyer who needs some hand-holding may not be able to get benefits.
Lack of Personal Attention: Discount Realtors handle multiple clients at once to make up for the reduced commission rate. They may not be able to provide personalized services.
High Cancellation Fee: A discount realty company can charge a minimum withdrawal fee within a specified period. Remember to carefully review the terms and conditions of the contract before signing.

Who Should Use a Discount Broker?

Discount brokers are ideal for:

Sellers on a Tight Budget: Homeowners who wish to save money should list with a low-fee Realtor. This can help them save big.
Real Estate Investors: Real estate investors who frequently trade homes can benefit from low-commission discount brokers.
House Flippers: Home flipping is a strategy where an investor purchases a property to renovate it and sell it for a profit. Home flippers can save thousands on agent commissions by selling via discount brokers.

Alternatives to Discount Real Estate Agents in Chicago

Here are some options if you do not want to opt for a discount Realtor in Chicago.

List With a Full-Service Realtor: If you need hand-holding, we recommend you hire a full-service in-person Realtor. You’ll get all the professional help you need, but you will end up paying a full 5% to 6% commission.
Sell to an iBuyer: Many iBuyers, like Opendoor and Offerpad, purchase hundreds of homes in Chicago markets. iBuyers can be a great option if you want to sell your house fast in Illinois.
Sell to Cash Home Buyers: Individual cash home buyers and companies 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 in Illinois will help you list and sell a house by owner and save thousands in listing agent commission.

Are Discount Brokerages Worth It?

YES! There are various advantages to using a low-cost real estate agent. Using an affordable brokerage can save you at least $8,000 to $10,000.

There are several discounted real estate brokers on the market today, each with its own set of advantages. Examine factors such as listing fees, listing time, services provided, customer service, and coverage before you choose one.

With Houzeo, you can get your home on the MLS in 24 hours, for a small flat fee. You get extra savings and services like, access to offers dashboard, showings management, and many more.

Eager to Know How Houzeo Works?

Houzeo is the #1 For Sale By Owner website in the U.S. Check out the following video to understand how Houzeo would help you crack the deal faster in 5 steps.

How to List on MLS With Houzeo?

5 Easy Steps to List on MLS with Houzeo as FSBO

Start Your MLS Listing NOW!

» NEED MORE CLARITY? Read these exclusive Houzeo reviews and learn why the platform is the best in America’s competitive housing market.

Frequently Asked Questions

Who are the best discount real estate brokers in Chicago, Illinois?

Houzeo.com, and Lucid Realty are the top discount real estate brokers in Chicago.

How much is the real estate agent fees in Chicago, Illinois?

On average, traditional agents in Chicago, charge 5% to 6% of the sale price as commission. On the other hand, discount real estate brokers charge 1% to 3% commission.

How do I find low cost discount realtors near me to sell my home?

You could do a Google search, go with an agent from one of the national discount brokers like Redfin, or list your home using Houzeo. With Houzeo, your home will be listed on the MLS without the added expense of a listing agent.