New Jersey is witnessing a rise in house prices by 9.4% compared to the last few years. In this flourishing market, you can avoid paying high commission fees if you wish to sell your house. Therefore, discount realtors in New Jersey are high in demand, let’s look at some of the best discount real estate brokers in NJ.
Rankings: Best Discount Real Estate Brokers & Companies in NJ
| Rank | Discount Real Estate Broker / Company | Listing Fee | Max Savings | 100% Online | 5-Star Reviews* | Broad Coverage | Mobile App |
|---|---|---|---|---|---|---|---|
| 1. | Houzeo | $349 Flat Fee | ✅ | ✅ | ✅ | ✅ | ✅ |
| 2. | Lovi Realty | 1% Commission | ✅ | ❌ | ❌ | ❌ | ❌ |
| 3. | Feel @Home Realty | 1.25% Commission | ✅ | ❌ | ✅ | ❌ | ❌ |
| 4. | Houwzer | $5,000 Flat Fee | ❌ | ❌ | ✅ | ❌ | ❌ |
| 5. | Redfin | 1.5% Commission | ❌ | ❌ | ❌ | ✅ | ✅ |
Reviews: Best Discount Real Estate Brokers & Companies in NJ
1. Houzeo.com
#1 Flat Fee MLS Service
Houzeo.com
- Listing Fee: $349
- Available nationwide
4.9/5
(4,523 reviews)
4.9/5
(4,523 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!
» 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 no.1 Flat Fee service. Houzeo provides an unbeatable combination of max savings, 5-star customer support and cutting-edge technology.
Houzeo’s Bronze package is $99+, the Silver package is $379+, and Gold package at $379 + 0.5% (minimum fees $995) at closing. The full-service Platinum package costs $349 + 1% (minimum fees $995) at closing.
2. Lovi Realty
GREAT LOCAL EXPOSURE
Lovi Realty
- Listing Fee: $4,990
- 4.2/5.0
(24 reviews)
4.2/5.0
(24 reviews)Lovi Realty provides its listing service at a discounted commission rate. They provide a unique service where the seller has the most benefit.
- Basic Plan – $4,990: They list and market your home for a flat fee of $4,990. This plan includes drone photography, marketing and closing attorney fees.
- Full-Service Plan: This is a full-service package. Your home is listed across several high traffic websites and social media. You also get complete marketing assistance, yard signs, lockbox etc.
👉 Our Take: We recommend the full-service package as it covers all the services as a traditional broker. The basic plan lacks a few crucial services like listing on the MLS, negotiation assistance, etc.
Lovi Realty claims they can sell your home in under 30 days using their special seller-centric approach.
- Full-Service Features: As a seller, you can avail a detailed marketing plan, inputs on home improvement, attorney fees etc. You also get additional support free of charge, for which you might have paid a hefty price with a traditional agent.
- Agent Assistance: 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.
We found some red flags with Lovi Realty during our research.
- Expensive Basic Plan: Their basic plan is very expensive as compared to other flat fee options. It also lacks certain important services such as listing on the MLS, negotiation assistance, reviewing offers, etc.
Lovi Realty has a 4.2 out of 5-star rating from 24 total reviews on Trustpilot.
Lovi Realty is a full-service discount brokerage that only offers services in New Jersey.
Their basic plan is expensive as compared to other discount options. It does not cover services like listing across the MLS, negotiation assistance, etc.
3. Feel @Home Realty
QUALITY PROFESSIONAL SUPPORT
Feel @Home Realty
- Listing Fee:1.25% Commission
- No credible source was found.
Feel @Home Realty was founded by Charles Hendershot, a licensed real estate broker in New Jersey. They provide full-service real estate services at lower commission rates.
- Full Service – 1.25% Commission: With Feel @Home Realty, you can sell your property at 1.25% commission against the traditional commission of 5%-6%.
👉 Our Take: We recommend their full-service plan as it helps you save thousands in commission fees.
Feel@Home Realty is a discount brokerage that offers a full-service package covering various services.
- Extensive Marketing: Your listing is shared across several high-traffic websites and social media for maximum exposure.
- Professional Photography: They have a team of professional photographer/videographers to showcase your home in the best way possible.
- Home Evaluation: They perform a comparative market analysis of the home prices in your neighborhood. This helps them evaluate your home better and make sure you don’t undersell.
Although Feel@Home is an established firm in New Jersey, there are no credible reviews online about them. This is a considerable red flag as reviews provide vital feedback and could help point out discrepancies.
No credible reviews were found online for Feel@Home Realty.
Feel@Home Realty was founded by Charles Hendershot, a licensed real estate broker in New Jersey. His experience in the field has helped many sellers to sell their properties at great prices and with good customer service.
They offer full-service at commission rates as low as 1.25%. This is a good option for sellers looking to save on commission fees.
4. Houwzer
BEST FOR HIGH VALUE HOMES
Houwzer
- Listing Fee: 1% of sale price
- Restricted coverage
- 4/5
(43 reviews)
4/5
(43 reviews)Houwzer offers three different deals for sellers.
- Flat rate – 1% Commission: Houwzer charges a 1% listing fee. This low-commission Realtor is ideal for homes with a value above $1M.
- Buy & Sell Bundle: If you purchase a property along with selling your house, you will get a transferable refund of $2,500 on the listing fee.
- Convenience Offer: You will receive a cash offer from them. You get better offers from prospective buyers and pre-qualify for a mortgage on a home purchase.
Coverage: Houzer offers its services only in Florida, New Jersey, Maryland, Pennsylvania, Virginia, and Washington.
👉 Our Take: If you’re looking for a low-commission real estate brokerage that’s easy on the wallet for high-valued properties, Houwzer is a good option for you.
» Houwzer: Is it truly a smart choice to choose them? Read the comprehensive review to know more!
Houwzer is a low-commission real estate brokerage based in Philadelphia, PA. They are a certified B Corporation that is committed to solving social and environmental problems.
- Versatile Add-On Features: They offer good add-on features like virtual tours, high-definition photography, and closing assistance.
- Cash Advantage: Houwzer empowers buyers to make a cash offer on a house using Houwzer’s funds. The buyers should be pre-approved by Houwzer Mortgage to avail of the cash advantage option.
We found some drawbacks of Howzer real estate during our research.
- No Personalized Support: Due to high customer volume Houwzer agents might not give personalized attention to every customer.
- Not for Low-Priced Homes: Houwzer is only ideal for houses that are valued at a million or above.
Houwzer has an average rating of 4 out of 5 stars from 43 reviews on Yelp.
» Houwzer Reviews: Check out the customer reviews before making your decision.
Houwzer provides useful extras including a virtual tour, high resolution photographs and closing help.
We do not recommend Houwzer for most home sellers or buyers. You may benefit if you’re selling a high priced home with Houwzer.
5. 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 primarily known for it’s advanced tech platform and mobile apps. It covers 80+ markets in the U.S.
Redfin’s listing agreement says they will list your property on the MLS within 18 days. Services like Houzeo will list you on the MLS within 24-48 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
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. Since you pay the commission, this amount technically goes from your pocket.
For example, List With Clever promotes itself as a real estate educational website that matches sellers with discount realtors. Even though Clever claims to be “free,” 25% to 40% of the commission you pay will be directed to Clever as a “Referral Fee.”
» Clever Real Estate: Read our full review of Clever Real Estate
Everything You Should Know About Selling with Discount Real Estate Brokers & Companies
What are Discount Real Estate Brokers & Companies?
Discount real estate brokers are agents that provide specific services for a discounted fee. Instead of charging the seller standard agent commission of 3% (listing agent commission), low cost realtors will work for less (such as a 1%-2% commission or a pre-defined flat fee) and provide restricted services. The reduced fee can easily save sellers a good amount of money.
NJ discount real estate brokers typically offer the same services as full-service brokers. The key difference is the price.
Types of Low-Cost Realtors
Low commission real estate agents are of 4 different types.
1. Flat Fee MLS Brokers
A flat fee MLS listing company or service is nothing but a registered real estate agent with a lesser commission that lists your home on the MLS for an upfront flat fee.
The seller and the broker agree on a la carte services, and the broker takes a flat fee instead of a percentage of the home’s sale price. Say 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!
With a flat-fee model, you’ll pay an average of $300, including listing and marketing. Even if you choose to add services like pricing and buyer negotiations, you will still save money.
Want Traditional Realtor’s Service With Minimal Interaction?
👉 Houzeo makes it possible!
Houzeo offers competitive deals with a 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.
» Flat Fee MLS New Jersey: Click here to find all about the top flat fee MLS services in New Jersey
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.
Low cost real estate brokers do all that – online. Because of their digital presence, they have many advantages such as lesser fees, discounted commissions, data backup, 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. The agent will sell your home for a flat fee of $3,000 to $6,000. This flat rate is usually based on how much the house is worth and how well the agent does their job. In this case, there is no percentage listing fee, but 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 how much the house is 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. In terms of these real estate companies in New Jersey, services like consultation, professional photography, yard signs, and marketing materials might be included in the flat fee, but always.
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. Low Cost Real Estate Brokers in NJ
Full-service low cost real estate 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. For example, Heights Discount Realty charges a 5% commission against the traditional 6% commission. The discount may be minimal, but still helps sellers to save some money. But in most businesses, you have to take what you can get. Since there are fewer discount real estate brokers, sometimes you may get an inexperienced agent.
👍 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
Savings Calculator
Here’s how much you can save with Houzeo.com!
4 More Ways To Get Discounted Realtor Fees
Can you negotiate well? If yes, that’s an advantage. Commissions in the real estate industry can be negotiated, but not many know about them. Even if the company is a flat-rate discounter, you can always ask for a few minor changes. 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-cost 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. New Jersey’s average real estate commission can influence your house’s price. Lowering your overall commission without knowing the average commission can be disadvantageous. Once you know your reference point, negotiations can be favorable for both the seller and agent.
Buying and Selling With the same Discount Realtors
Using the same discount realtors or companies 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, picking a flat rate discount broker 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.
» Seller Closing Costs in New Jersey: Use this free tool by Houzeo to get an estimate of your closing costs.
How to choose a Discount Real Estate Broker, Brokerage, or Company?
To find a low-commission realtor in New Jersey, 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. Then you can use the chosen broker.
Discount Real Estate Brokers in NJ Who Offers Flat Fee MLS Near Me
Before opting for low cost or discount real estate brokers, you would want to know its coverage. All the low commission real estate agent providers do not have the same coverage. Some 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!
| Region | States |
|---|---|
| Northeast | Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont |
| Midwest | Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin |
| South | Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, Washington, D.C., West Virginia |
| West | Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming |
Alternatives to Discount Real Estate Brokers in NJ
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. The buyer’s agent, on the other hand, brings in clients who buy the house. They each get 2.5 percent after closing for a total of 5%.
» REALTORS New Jersey: Here is Houzeo’s list of the top REALTORS in New Jersey
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!
» Companies that Buy Houses for Cash in New Jersey: Here is Houzeo’s definitive guide!
For Sale By Owner
As the term indicates, for sale by owner property is one that 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.
» How To Sell A House By Owner in New Jersey: Find all about selling a house by yourself in New Jersey
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?
» Buyer Closing Costs in New Jersey: Use this free tool by Houzeo to get an estimate of your closing costs.
Conclusion
There are several discount real estate brokers and companies in NJ 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.
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.
» Sell my House Fast New Jersey: Here is how to do it!
Frequently Asked Questions
Are realtor fees negotiable in NJ?
Yes, you can negotiate realtor fees if you know your property's worth. A seller can negotiate based on the condition of the house, and the location of the property. It is advisable to negotiate in the beginning because unaware sellers can end up paying high commission fees which they could have avoided. So, negotiate on the terms both parties can mutually agree upon.
What is the lowest commission a realtor will take?
A traditional realtor may ask for a minimum of a 2.5%-3% commission in most states of the United States. Whereas, if a seller sells with a discount broker, then they can pay at a discounted commission or flat rate decided by the company.
How do you list on the MLS in NJ?
Choose one of the companies that will offer you a great package with complementary services. Once you've decided on a company, get in touch with them to add your property to the MLS New Jersey. Here, Houzeo makes things easier for the home seller. You can list your property directly through Houzeo and will be assigned a listing agent that will help you with your MLS listing in New Jersey.
Who pays realtor fees in New Jersey?
Realtor fees are borne by the seller largely. They pay based on the legal agreements and will have to pay the amount discussed. Sellers must be careful before doing the final closing and ensure they settle everything fairly.
What are the closing costs in NJ?
Closing costs in New Jersey include loan origination fees, home appraisal fees, credit reports, home inspection, recording fees, transfer taxes fees, etc. All of these can be understood with the help of a broker. Closing costs differ from state to state, so it is advisable to research thoroughly and understand before settling anything.
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