12 min read May 21, 2022

Best Discount Real Estate Brokers in Illinois

✍️ Editor’s Note: Save thousands of dollars in commission by working with discounted real estate brokers/low-commission real estate agents and companies.

Houzeo is one of Illinois’s biggest Discount Real Estate platforms. Americans listed almost $3.5 billion worth of properties on Houzeo.com in 2021.

» SAVE: Start your FREE listing on Houzeo.com NOW!
Discount real estate brokers illinois

Illinois reported a rise in home prices by 5.0% compared to the previous year. This is a great opportunity for home sellers to list their property at a competitive rate, but, most sellers have to pay high commission fees to agents. To help home sellers various companies and discount real estate brokers in Illinois offer their services at amazing discounts.

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Rankings: Best Discount Real Estate Brokers & Companies in Illinois

RankDiscount Real Estate Broker / CompanyListing FeeMax Savings100% Online5-Star Reviews*Broad CoverageMobile App
1.Houzeo$349
Flat Fee
2.Lucid Realty1%-2.5% Commission
3. Johnson Realty$500 Upfront + 0.5% commission
4.Redefy$3,500 Flat Fee
5.Redfin1.5%
Commission

Reviews: Best Discount Real Estate Brokers & Companies in Illinois

1. Houzeo.com

🔥 BEST OVERALL
  • Listing Fee:$349 Flat Fee
  • 5 Stars  4.9/5.0 (3,141 reviews)

Houzeo an online real estate company, provides an unbeatable combination of maximum savings, cutting-edge technology, and 5-star customer support.

💰 Save Thousands on Commission: Houzeo’s plans are typically a small flat fee. This will save you thousands. If your buyer is unrepresented, you save the buyer agent commission as well.

📣 Maximum Exposure: Listings get syndicated to the MLS, Zillow, Realtor.com, Redfin, Trulia, and hundreds of other websites. Houzeo also has nifty social media sharing tools. No other platform gives you this much exposure.

 Fast Listing & Changes: Houzeo is 100% online. Listing is easy and changes are fast. So you can focus on what is most important – your sale.

⭐ 5-Star Customer Support: Home sellers across America have rated Houzeo 4.9 out of 5 stars on major review sites like Google and Trustpilot. There is comfort in the fact that when you call, a live person picks up the phone on the other line.

📱 Cutting-edge Technology: Houzeo is the most powerful real estate website. Its advanced features include:

  • IntelliList Listing Management System: Lets you manage your listing 100% online.
  • Houzeo Showings: Manage to show appointments online.
  • Houzeo Offers: All offers are summarized online. You can view and compare offers, or counter any offer. In a multiple-offer situation, you can also call for the highest and best offers.
  • Buyer Search: Buyers can contact you directly on Houzeo.com instead of going through a real estate agent.
  • Houzeo Settlement Agent Platform: Guides you to your closing.

👉 Our Take: Houzeo.com is our top pick because it delivers an unbeatable combination of savings, tech features, and service of any flat fee MLS listing service website we’ve reviewed.

»SAVE: Start your free listing on Houzeo.com today!

  • Nationwide coverage
  • Listings get syndicated to Zillow, Realtor.com, Trulia, Redfin, and 100s of other sites
  • Quick listing (within a day with concierge)
  • Savings on commissions
  • 100% online – easy listing, fast changes, online showings, and online offers
  • Mobile app availability

Houzeo has a 4.9 out of 5 rating on Google & Trustpilot.

Houzeo is available nationwide.

2. Lucid Realty

🏆 GREAT LOCAL EXPOSURE
Copany LogoLogo image

Lucid Realty

Company Link
  • Listing Fee: 1%-2.5% Commission
  • 5stars  5.0/5.0 (28 reviews)

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.

💰Discounted Commission: Lucid Realty provides its listing service at a 1%-2.5% commission for a property. They provide a unique sliding scale service where the more expensive the house the more you save.

📜Features: As a seller, you can avail a detailed marketing plan, inputs on home improvement, and additional support for which you may have to pay a hefty price if it were a traditional agent.

👨‍💼Agent Management: They ensure that any agent to the seller is given the best service and support throughout the selling process. They also offer expert supervision during the inspection and appraisal.

👉 More: Selling A House In Illinois: Here’s What You NEED to Know

  • Impressive local exposure which includes suburbs of Chicago.
  • Great discount for a full-service.
  • Sliding scale for commission.
  • Costlier the house, the lesser the commission.
  • Qualified brokers.

Lucid Realty has an average rating of 5 out of 5 on Yelp.

Lucid Realty offers its services only in Chicago, Illinois.

3. Johnson Realty

🏆 UNIQUE PLAN
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Johnson Realty

Company Link
  • Listing Fee: $500 upfront + 0.5% of 1% at closing.
  • No credible source was found.

Johnson Realty is a full-service discount brokerage that helps sellers to list their property at a fair price with great savings. Besides the flat rate, they also charge you 0.5% of 1% of the selling price at closing. This hybrid plan is unique in the market, and many sellers may find it cost-effective.

💵 Discounted Plan: $500 upfront + 0.5% of 1% of the selling price.

📜 Sale Process: With the $500 flat rate, sellers can get all the services including thorough analysis, and MLS listing. At closing, the seller must pay 0.5% of 1% of the sale price, after which the closing document will be signed.

👩‍💼 Agent Management:  Initially, they will help you with the MLS listing but for showing an outside agent will be involved. Any feedback during the showing will be conveyed via the Showing Time App.  

👉More: 9 Best Low Commission Real Estate Agents & Companies

  • A unique plan includes a $500 flat rate + 0.5% of 1% of the sale price.
  • Local exposure in the whole of Illinois.
  • Get listed on popular real estate websites like Zillow, Trulia, and Redfin.
  • Besides an agent from Johnson Realty, another outside agent will be involved in the process which may not be very appealing.

No credible sources were found to provide the reviews.

Johnson Realty offers its services in Missouri and Illinois.

4. Redefy

🔥 Flat Rate Listing
Copany LogoLogo image

Redefy Real Estate

Company Link
  • Listing Fee: $3,500 flat fee
  •  4.5/5.0 (36 reviews)

💰 Save Thousands on Commission: Redefy Real Estate is a flat rate brokerage company that allows you to sell your home at $3500. However, the platform becomes expensive when a house is sold for over $1 million. The sale price in such a case is 1% of the total sale price.

📣 Extra Exposure: The company provided in-house support that can help you with accurate pricing and other features like staging home, etc. Under Redefy Real Estate’s working model, limited agents cater to a large volume of customers. This poses a risk to service quality. They provide features like listing on MLS, comparative market analysis (CMA), showing service, yard sign, lockbox, and more.

👉 Our Take: Redefy does not provide open houses and printed flyers which makes it a bit different from the traditional Realtors.

🔍 Explore: 10 Best Discount Real Estate Brokers and Companies

  • Reasonable listing fee for low-value homes.
  • In-house support.
  • Flexible add-on features.
  • 1% commission for homes with a value of $1M+.
  • Limited coverage in Tennessee.
  • A non-refundable deposit of $500.

 

Redefy has an average of 4.5 out of 5 on Yelp

Redefy covers Colorado, Florida, Georgia, Illinois, North Carolina, South Carolina, Tennessee, Texas, and Virginia.

5. Redfin

🖥️ Good Technology
  • Listing Fee: 1.5% of the sale price
  • Available in 80+ U.S. Markets
  • 3.5 Stars 3.5/5.0 (62 reviews)

Redfin is one of the best online discount real estate brokers out there in the market today that has nationwide coverage.

💰Save on Commission Fees: When you choose Redfin over a traditional home-selling method, you can save up to 20% – 30% on the commission fees. Though, trying to provide their service 3x faster than the traditional method could limit their ability to provide you with personalized service.

📜Additional services: The discount realtor has a thorough listing agreement but it takes approximately 18 days to get a property listed on the MLS. With Redfin, you get add-on services like a professional photographer, MLS listing, open house schedule, yard sign, and much more.

📱Good Technology: It has one of the best technology among different discount real estate brokers. They have a powerful platform that is ideal for full-service brokerage. Redfin has a fantastic user interface for sellers to make their job faster.

👉More: Redfin Reviews: The Reality of 1% Fees, Pros & Alternatives

  • Good technology
  • Thorough listing agreement
  • Thorough paperwork
  • Holistic services
  • Full-service brokerage
  • Slow listing process
  • Average customer service

Redfin has an average rating of 3.5 out of 5 on Yelp.

Redfin covers 80+ Markets in the United States.

Everything You Should Know About Selling with Discount Real Estate Brokers & Companies

What are Discount Real Estate Brokers & Companies?

Discount real estate brokers or low commission real estate agents are individuals who provide full service at a discounted rate. This gives sellers the chance to avoid hefty commissions that they may have to pay if they approached a traditional agent. Real estate broker discount is beneficial in the current market as the house prices keep rising. So, sellers must ensure they profit from the current trends and ask for low commission agents for greater savings.

Sellers do not need to worry, discount real estate brokers provide the same services as full-service brokers but for a lesser price.

Types of Discount Real Estate Brokers in Illinois

Low commission real estate agents come in 4 distinct flavors.

1. Flat Fee MLS Brokers

A flat fee MLS listing company or service is nothing but a registered real estate agent with a low commission or discounted broker that lists your home on the MLS for an upfront flat rate. Here, the seller and the broker mutually agree on a la carte services and the seller pays for the services at a flat fee instead of a percentage of the house’s selling price.

For example, you want to sell a $500,000 home. A traditional agent will charge you between 2% and 3% of the sale price. That’s 15 grand!

In the Flat-fee model, you’ll pay an average of $300, which includes listing and marketing. Even if you choose to add services like pricing and buyer negotiations, you will save a large sum of money.

»READ: 7 Best Flat Fee MLS Illinois Companies (2022 Rankings)

Want Traditional Realtor’s Service With Minimal Interaction?

👉 Houzeo makes it possible!


Houzeo offers competitive deals with 100% online presence and cutting edge technology. Houzeo’s tech-centric broker partners charge just the upfront flat-fee, and no commission for all DIY plans.

2. Virtual Full-Service Agents

Think of everything a traditional agent does, from listing your property, marketing it, pricing it, negotiating with buyers, and closing it.

Online low cost brokers do all that – online. Due to their cloud-based presence, they have numerous benefits such as lesser fees, discounted commissions, and better management and marketing support. Many MLS listing companies like Houzeo, also provide full service options that are 100% online.

    ✍️ SAVE: A virtual full service company will not provide any in-person agent support, meaning, you will have to take over most of the groundwork. It may not be the best option for a first time seller. .

3. Flat Rate Low Commission

You can choose a low commission (flat-rate) agent in some markets. For a flat fee of $3,000 to $6,000, the real estate agent will sell your home. The flat rate is usually based on how much the house is worth and if the agent is good. In this case, there is no percentage listing fee and everything has a fixed price. Homie is one of the best examples of a real estate broker with a flat rate listing of $3500 and a low commission rate. Since Homie doesn’t offer as many services as a full-service real estate agent, it can easily make up for the lower prices it charges.

Think about the following situation: The price on the list is $450,000. With a flat-rate model, the agent’s commission fee stays the same no matter what happens, even if you agree to sell your home for less money. This is because it is a flat rate that doesn’t depend on the final cost at which the house was sold.

Before you hire a flat-rate agent, you should find out what kind of service you can expect from the company. Make sure you’ve read the contract all the way through before you sign it. Some services, like consultation, professional photography, yard signs, and other marketing materials might be included in the flat fee, but this is not guaranteed.

So, if you don’t include them in your budget, you may have to pay a lot of money out of your pocket. Any contract with a flat-fee agent needs to be read carefully, especially the small print. Also, keep in mind that even if you use a flat-rate agent, you will still have to pay the buyer’s agent fees, which will be between 2.5 and 3 percent.

4. Real Estate Broker Discount Agents

Full-service discount brokers offer many of the same services as traditional realtors for a low listing fee or flat rate, but they don’t charge as much. When a house is sold, they give the seller money back in the form of a discount on their commissions.

For example, if a full-service discount broker charges 1.5 percent of the sale price instead of the standard 2.5 percent of the sale price on a $450,000 house, you will save $4,500 in commissions. There are many discount real estate brokers, but they are not all the same.

Some have a lot more value and a lot less risk than others. Suppose, the agents have limited experience, then the quality of support will be limited too. But in most businesses, you have to take what you can get. All of these things could happen if there aren’t many services.

»READ: America’s 10 Top Real Estate Brokers in 2022

👍 BETTER IN ALL – AGENTS, SERVICES & SAVINGS!

Why pay a higher commission for a lower service? With Houzeo you can get better services at an affordable price!!

With HOUZEO

  • 👩‍💼Qualified and Reputed Agents
  • 💰You list your home at a very reasonable price within 24 hours
  • 📣 Listings get syndicated to Zillow, Realtor.com, Trulia, Redfin, and 100s of other sites
  • ⭐ 5-Star Customer Support
  • ❌ You can cancel anytime with no obligation

4 More Ways To Get The Best Discount Broker

Are you good at negotiating? Commissions in the real estate industry can be negotiated. Even if the company is a flat-rate discounter, you can always ask for a few minor tweaks. You can lower the amount you pay by a wide range of factors, including the location of your property, its condition, and the brokerage. 
Houzeo, a low-commission real estate company, can save you tens of thousands of dollars in commissions while still providing excellent service. If you want to lower your commission, keep reading to learn how:

Average Area Commission

Know your leverage before negotiating. For example, Illinois’s real estate industry accounted for $146.4 billion in 2021. This shows that a competitive commission can offer more benefits than you may imagine. Lowering the commission is not advisable in this situation. Once you know your reference point, negotiations can be more reasonable.

Buying and Selling With the same Discount Brokerage

Using the same discount brokerage or company to buy and sell has its own set of advantages. It makes you more likely to be repeat customers, giving you more chances to get refunds and cheaper commissions. For example, Landfall Properties, an MLS listing company, offers a rebate that can only be applied to your next purchase with the same company.

Pick the right type of discount broker

For example, discount real estate brokerage may not be the best option if your house is priced on the lower end. You will wind up losing more, instead, for maximum savings, you can pick a flat fee MLS company. 

Buyer Agent Fees

Almost all buyers work with an agent. For maximum savings, offer a competitive buyer agent commission. Once you cut out the risk factor of selling the house, your listing agent will be more comfortable with lowering their fee. 

How to choose a Low commission/ Real Estate Brokers Discount, Brokerage, or Company?

To find low cost brokers or a discount realtor, look for a low-commission brand. Check for services and top companies. You will be assigned a low-commission real estate agent based on brokerage policies. As a seller, you can choose the right broker who offers great services.

Low Commission Real Estate Agents/ Discount Realtors Who Offer Flat Fee MLS Near Me

Before choosing a discount real estate brokerage in Illinois, you should know its coverage. Some low cost brokers have nationwide coverage while some are restricted to a few states.

We’ve compiled a list of the best flat fee MLS Listing Services in each state. Click on your state to check them out!

Alternatives to Discount Real Estate Brokers

Traditional Agent 

A traditional agent assists you in buying, selling, renting, and all other aspects of real estate. A listing agent and a buyer agent are two types of traditional agents. Agents operate for brokerages and companies or under the supervision of a qualified broker.

Let’s get down to business with their commissions. The average overall commission fee for selling a home is 5%. This is deducted from the seller’s proceeds and shared between the listing and buyer agents. The commission rate changes regularly and is determined by the location of your property.

The listing agent assists the seller in the sale and marketing of their home. Whereas, The buyer’s agent brings in clients who buy the house. They each get 2.5 percent after closing for a total of 5% commission. This entire cost is paid by the seller.

iBuyers

An instant buyer, often known as an iBuyer, is a corporation that buys houses for sale for a cash offer. Unlike the usual way, the major goal is to sell it swiftly and efficiently. They employ cutting-edge technology and provide you with complete closing flexibility.

They make reasonable offers, although with a large service cost. Most iBuyers charge additional closing fees, which can easily push your commissions up to 12%! For example, Redfin Now charges up to 13% in service fees, 3% in maintenance fees, and 1% in closing costs, which can potentially total up to a staggering 17 percent!

iBuyers have their own set of rules, with costs that aren’t necessarily in line with market norms. It is always better to pick a discount real estate broker instead and save thousands of dollars!

»READiBuyers: Selling your home for cash in 2022!

For Sale By Owner

As the term indicates, a for sale by owner property is sold by the owner without the assistance of a listing agent or real estate broker. It’s the most cost-effective approach to avoid commissions and selling your house quickly. FSBO is ideal for sellers with some experience with the selling process and marketing. The best way to FSBO is to list on the Multiple Listing Service. Their large database allows them to market your home to agents throughout the country, allowing it to sell faster and with the most exposure possible. Anyone who wishes to sell their house through FSBO can benefit from the discounted brokers and agents.

»READ: Best for sale by owner websites in 2022!

Let’s Find Out How Houzeo Works

Real estate bargain brokers fall midway between a for-sale-by-owner and a full-service agency. With MLS listing packages starting at $349 and cutting-edge technology that allows you to manage your property, review offers, counter, and manage showings online and via their mobile app, Houzeo delivers the best of both worlds.

Check out the following video to understand: What is Houzeo? How does it work? And, why it is the best FSBO & Flat Fee MLS platform out there?

What is Houzeo?

An overview of what the platform is all about

Start Your FREE Listing NOW!

Conclusion:

There are many low-cost realtors, online low commission real estate agents, and discount real estate brokers in Illinois present in the market today that provide unique features. For a seller, it is recommended to check on pointers like listing fees, listing time, services offered, customer service, coverage, and technology to select a particular broker. Illinois is a great market for any home seller where the median sale price of a house is $286,100!

While there is close competition between the umpteen discount realty companies, Houzeo comes out to be a clear winner. With Houzeo, you get almost everything you require to sell your property. Not only sellers, but Houzeo also helps buyers with a lot of add-on features.

Moreover, Houzeo is 100% online and automated to cater to various seller needs. Additionally, the platform is one of the leading Flat-Fee MLS providers that has changed the way FSBO works in the real estate industry.

Frequently Asked Questions

How much do real estate brokers make in Illinois?

According to PayScale, the average salary of a real estate broker ranges from $43,443 to $67,453 per year. The salary is based on the years of experience and the city they are based.

Is Illinois an attorney state for real estate?

Yes, Illinois is an attorney state where you require a lawyer to be present at the time of closing. This is a mandate implemented by authorities in the US. Some states are escrow states, and some are attorney states like Illinois.

What are the closing costs of real estate in Illinois?

Some of the common closing costs in Illinois are loan origination fees, home appraisal fees, credit reports, home inspection, recording fees, transfer taxes fees, etc. All of which can be understood with the help of a broker. Closing costs differ from state to state, so it is advisable to research thoroughly before making any decision.

Are real estate commissions negotiable in Illinois?

Yes, real estate commissions are negotiable as long as the seller knows their leverage. For example, a seller can negotiate based on the city, location of the property, the condition of the house, etc. A seller should be thoroughly prepared to negotiate for a commission both can agree upon.

Do buyers pay realtor fees in Illinois?

A large amount of the expense is borne by the seller, so buyers only have to spend when required. In some cases, there might be certain additional fees involved but that is a negligible amount.

Related Keywords: low cost brokers, best discount broker

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