From Chicago to Peoria, home sellers across Illinois dread the 6% real estate agent commission. Traditional listing agents charge a commission of 3% of the sale price.
However, you can save thousands by hiring a discount real estate broker when selling your home in Illinois.
Our list of the best discount realtors in Illinois will assist you in identifying the best one for your next real estate transaction.
⚡Understanding Discount Brokers
- Who is a Discount Broker? A discount broker provides all real estate services like a traditional broker for a low commission of 0.5% to 2%.
- Understanding the Discount: The discount is on the listing fee. You still have to pay the buyer agent commission.
- Can You Negotiate Brokerage Fee? Yes! You can negotiate brokerage fees with your agent. Before you do, make sure you offer a full buyer’s agent fee.
- Alternatives: You can list on the MLS using Flat Fee MLS companies like Houzeo. It is 100% online and automated to cater to various seller needs.
Rankings: Best Discount Real Estate Brokers & Companies in Illinois
|Rank||Discount Real Estate Broker / Company||Listing Fee||Max Savings||100% Online||5-Star Reviews*||Broad Coverage||Mobile App|
|2.||Lucid Realty||1%-2.5% Commission||✅||❌||❌||❌||❌|
|3.||Johnson Realty||$500 Upfront + 0.5% commission||✅||❌||❌||❌||❌|
|4.||Redefy||$3,500 Flat Fee||❌||❌||✅||❌||❌|
Reviews: Best Discount Real Estate Brokers & Companies in Illinois
#1 Flat Fee MLS Service
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!
» 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.
- 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 Listing Commission: In most states, you’ll be paying just a small flat fee to list on MLS. Houzeo covers 47 states + DC! 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.
» Houzeo Reviews: Houzeo is rated “Excellent” with a 4.9 out of 5-star rating by 4,523 home sellers on Google Reviews and Trustpilot!
Houzeo is rated 4.9 out of 5 stars by thousands of home sellers on Google & Trustpilot.
» Houzeo Reviews: Check out how Team Houzeo has addressed all Houzeo complaints from home sellers.
Houzeo.com is America’s #1 ranked Flat Fee service. Houzeo provides an unbeatable combination of max savings, 5-star customer support, and cutting-edge technology.
Houzeo’s Bronze Package is priced at $329+, the Silver package is priced at $399+, and the Gold at $379 + 0.5% (Minimum $999) at closing. Sellers can ask for the full-service Platinum package which costs $349 + 1% (Minimum $999) at closing.
2. Lucid Realty
GREAT LOCAL EXPOSURE
Lucid Realty is a full-service discount brokerage that offers its services only in Chicago, Illinois. Their special approach helps sellers to save a substantial amount by the end of the closing process.
For Home Sellers
- 1%-1.25% Commission: Lucid Realty provides its listing service at a 1%-2.5% commission. As a seller, you can avail yourself of a detailed marketing plan, inputs on home improvement, and additional support.
For Home Buyers
- Buyer Rebate: You get buyer rebates that vary from 20% to 50% of the commission they earn as buyers’ agents.
👉 Our Take: We recommend Lucid Realty for luxury home sellers. They provide a unique sliding scale service where the more expensive the house the more you save.
You receive the following benefits if you sell or buy with Lucid Realty.
- Agent Assistance: A single agent is assigned to you. You receive detailed feedback after every showing, ongoing analyses, and discussions of market conditions. Your agent will even guide you in the inspection and the appraisal.
- Local Exposure: Your home gets the best possible exposure when it gets listed in the local MLS. The agents are well-informed about the local real estate market.
- Sliding Scale for Commission: They provide a unique sliding scale service where the more expensive the house the more you save.
- Detailed Marketing Plan: You get an evaluation of your home’s key selling features, a market analysis, and a pricing recommendation.
In our research, we found no red flags associated with Lucid Realty. Customers have had a 5-star experience with Lucid Realty.
Lucid Realty has a rating of 5 out of 5 stars from 27 reviews on Yelp.
Lucid Realty is ideal for luxury home sellers. They provide a unique sliding scale service where the more expensive the house the more you save.
A single agent serves you. You will receive full feedback following each showing, as well as continuous market assessments.
3. Johnson Realty
Johnson Realty is a full-service discount brokerage that helps sellers to list their property at a fair price with great savings.
- The Johnson Plan – $500 upfront + 0.5% of 1% at closing: This plan includes a CMA, showings and their feedback through the ShowingTime app, listing on many real estate websites, a durable metal sign, and more.
👉 Our Take: You get all the services including thorough analysis, and MLS listing. However, as a seller, you must pay 0.5% of 1% of the sale price, after which the closing document will be signed.
Johnson Realty offers you the following benefits.
- Unique Plan: They offer a unique plan includes a $500 flat rate + 0.5% of 1% of the sale price.
- Market Exposure: Your home will feature on many 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.
In our research, we have found some deal breakers associated with Johnson Realty.
- Outside Agent Involvement: An outside agent from another company will schedule the showing through the MLS. There might be inconsistencies in the quality of these agents.
No credible sources were found to provide the reviews.
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.
Redefy offers its services for a flat rate or commission based on your home sale price.
- Full Service: Redefy charges a flat rate of $5,500. When a house is sold for more than $1 million, the listing fee is 1% of the total sale price.
Coverage: Redefy covers Colorado, Florida, Georgia, Illinois, North Carolina, South Carolina, Tennessee, Texas, and Virginia.
👉 Our Take: Redefy works on the multiple-agent model. They have a field agent who meets clients and an in-house agent for customer service. Since there is no single point of contact, the quality of service is severely affected.
Redefy is a full-service real estate brokerage that aims to make the real estate process cost-effective and transparent for home sellers and buyers.
- Decent Listing Fee for Low-Value Homes: This flat rate option is a good bargain if your home value is below one million.
- In-House Support: You are provided in-house support with accurate pricing and features like home staging.
- Mortgage Calculator: Redefy’s Mortgage Calculator allows you to estimate your overall mortgage, including insurance and taxes.
In our research, we found some drawbacks of Redefy.
- 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.
Redefy has a rating of 4.5 out of 5 stars from 37 reviews on Yelp.
» Redefy Reviews: Check out the customer reviews for Redefy on Yelp.
Redefy offers its services based on your home value. If your house costs anything below a million, they charge a flat rate fee of $5,500.
However, their agent quality may not be consistent You are also required to pay a non-refundable deposit of $500.
BEST TECH-ENABLED BROKERAGE
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 primarily known for its advanced tech platform and mobile app. It covers 80+ markets in the US.
Redfin’s listing agreement states they will list your property on the MLS in 18 days. Services like Houzeo will list you on the MLS within 24 to 48 hours.
Here’s a quick recap of the best discount real estate brokers in America:
America’s Best Discount Real Estate Brokers (2023)
We’ve reviewed the best discount real estate brokers in 2023
What Are Discount 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. Sellers receive basic real estate services at a pre-negotiated fee of 0.5% to 2% or even a flat fee.
The reduced fee can easily save sellers thousands in commissions.
You may be now wondering if their services are comparable to those of a traditional Realtor at this point. Discount real estate brokers typically offer the same services as full-service brokers. The key difference is in pricing.
🤔 Do you offer buyer agent commission to discount brokerages?
YES! Most real estate discount brokers and brokerages will recommend you pay a full buyer agent fee. It is typically between 2% and 3% in most states.
It is vital to pay a competitive commission to the buyer’s agent. This will ensure you sell your home quickly while still receiving the best price possible.
Types of Discount Brokers
Find a discount real estate broker that fits your budget and saves you the most money! The four major types of real estate discount brokerages and companies 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. Best Flat Fee MLS listing companies like Houzeo can get you on the MLS within 48 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. These are usually priced at 1% or 2%. They cover everything from listing, negotiations, and pricing.
4. Virtual Full Service: A virtual full-service discount broker handles everything online. Companies like Houzeo, also provide full-service options that are 100% online. All services including negotiation and marketing support are at no additional cost.
Pros and Cons of a Discount Realtor
The primary benefit of working with discount real estate brokers is that they have lower overhead costs. However, a discount broker may not have as much time to communicate. They juggle many clients and may not be available for your queries.
- Reduced Fees: You’ll pay less for listing costs. While standard brokers typically charge at least 3%, discount brokers may charge as little as 0.5% to 1%.
- Full Access to Basic Real Estate Services: You receive the same basic services as you would with a traditional agent. They provide assistance with pricing, marketing, and negotiations.
- Streamlined Process: A low-cost Realtor facilitates the selling process. They are motivated to work efficiently and eliminate all unnecessary steps from the sales process.
- 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 almost never have to talk to anyone in-person. A first-time seller or buyer who needs some hand-holding may not be able to benefit much.
- 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 of time. Remember to carefully review the terms and conditions of the contract before signing.
Discount Real Estate Brokers to Avoid
Some agent-matching websites advertise themselves as “free”. But in reality, they keep a portion of the commission received by the discount real estate brokers. Because you pay the commission, this amount comes out of your pocket.
For example, List With Clever promotes itself as an informational real estate website that matches sellers with discount realtors. Even though Clever claims to be “free”, 25% to 40% of your commission will be directed to Clever as a “Referral Fee”.
» Clever Real Estate: Check out what you lose when you sell or buy with Clever!
💸 Save Thousands in REALTOR Commission
Sell your house with Houzeo.com for a small flat fee – as low as $349!
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How to Choose a Discount Realtor or Company?
It is essential to select the right real estate agent for your home-selling journey. The following are a couple of pointers to assist you with picking the ideal discount broker or company.
1. Savings: Discount real estate brokers have a variety of pricing structures. So, choose one that maximizes savings while still providing all of the services you require.
2. Technology: Choose companies that use cutting-edge technology, offer online paperwork, and have a mobile app.
3. Customer Reviews: Check for online customer reviews. This helps you to get an idea of the kind of services you are going to receive.
How Much Can I Save With a Discount Realtor?
As a seller, you can save anywhere between $1,632 and $ 6,680.
Typically, home sellers pay 6% of total realtor commissions. The total commission is divided between the listing agent (3%) and the buyer’s agent (3%). Discount real estate brokers pre-negotiate a reduced listing agent commission of 1% to 2%.
Therefore, you save a commission of 4% to 5% on your home sale.
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, Lucid Realty offers a buyer rebate of 20% – 50% of the commission to clients.
However, in order to qualify for this buyer rebate, buyers must fulfill specific requirements. The most important is the minimum price range.
🤔 What is a home buyer rebate?
A Realtor rebate is a type of cashback you receive as a buyer. Some brokerages and agents offer these rebates as an incentive to attract more buyers. Buyer rebates are allowed in 40 states.
Who Should Use a Discount Broker?
Discount Brokers are ideal for sellers and buyers who want to focus on savings.
- Sellers on a Tight Budget: Homeowners who wish to save money might list with a low-fee Realtor. This can help them save big.
- Real Estate Investors: Real estate investors who frequently trade 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.
Discount Realtor Near Me
- Discount Real Estate Brokers in Chicago, IL: Chicago, IL discount Realtors charge a fee of 1% to 1.5%. To make an informed selection, look into their listing costs, services offered, coverage, and technology.
- Discount Real Estate Brokers in Naperville, IL: Discount brokers in Naperville will list and sell your home for 1% to 1.5% commission. Some of the companies also offer buyer rebates.
- Discount Real Estate Brokers in Westchester, IL: Discount real estate agents in Westchester offer buyer as well as seller services. You may save thousands by selling your house for a fee of 1% to 2.5%.
Alternatives to Discount Real Estate Brokers in Illinois
Here are some options if you do not want to opt for a discount Realtor in Illinois.
- Flat Fee MLS Companies: Flat Fee MLS Illinois companies list your property on your local MLS for a flat fee of a few hundred dollars. You can save on commissions and also take advantage of their technology for a faster sale.
- 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 and other Illinois markets. iBuyers can be a great option if you’re wondering how to sell my house fast in Illinois.
- Sell to Cash Home Buyers: Individual cash home buyers and companies that buy houses for cash in Illinois 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 in Illinois and save thousands in listing agent commission. Many FSBO websites will also get you listed on the MLS and help you with FSBO paperwork.
» Best FSBO Sites in Illinois: We’ve researched and reviewed all the best For Sale By Owner sites in Illinois. See our rankings!
Here’s how much you can save with Houzeo.com!
Are Discount Brokers Worth It?
YES! There are various advantages to using a discount real estate broker. Using a cheap brokerage can save you a lot of money. The commission savings can be significant.
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 for a small flat fee. You get access to cutting-edge tools like offers dashboard, showings management, and many more to make your selling journey easy.
» List My House on MLS in Illinois: The fastest way to get on the MLS!
Eager to Know How Houzeo Works?
We’ve got you covered. Check out the following video to understand how Houzeo works and why it is one of the best For Sale By Owner websites in the U.S.
What is Houzeo?
An overview of what the platform is all about
» 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
1. Who pays Realtor fees in Illinois?
Generally, it is the seller who pays the realtor fees for both the seller and the buyer agent. However, there are no laws that mandate this.
2. Are Realtor fees negotiable in Illinois?
Yes! Realtor fees are negotiable in Illinois. So, it's a good idea to look around and try to get a lower rate.
3. What percentage do most Realtors charge in Illinois?
Most Realtors charge 6% in Illinois. But this number can be anywhere from 5 percent to 7 percent.
4. Who pays the closing costs in Illinois?
The seller pays the closing costs in Illinois.