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.
» Jump To:
- Rankings: Best Discount Real Estate brokers in NJ
- Reviews: Best Discount Real Estate brokers in NJ
- Everything You Should Know About Selling with Discount Real Estate Brokers & Companies
- Alternatives to 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|
|2.||Lovi Realty||1% |
|3.||Feel @Home Realty||1.25% Commission||✅||❌||✅||❌||❌|
|4.||Houwzer||$5,000 Flat Fee||❌||❌||✅||❌||❌|
Reviews: Best Discount Real Estate Brokers & Companies in NJ
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.
- 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 is available nationwide.
2. Lovi Realty
Lovi Realty is a full-service discount brokerage that offers its services only in New Jersey. Their special approach helps sellers to save a substantial amount and sell their house within 30days!
Discounted Commission: Lovi Realty provides its listing service at a 1% commission for a property. They provide a unique service where the seller has the most benefit.
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.
- Impressive local exposure.
- Great discount for a full-service.
- Good personalised support.
- Offer yard signs and supra lock box in their service.
- Qualified brokers.
Lovi Realty has an average rating of 4.2 out of 5 on Trustpilot.
Lovi Realty offers its services only in New Jersey.
3. 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. His experience in the field has helped many sellers to sell their properties at great prices and with good customer service. Hendershot leads Feel @Home Realty with his 17 years of experience in real estate by providing full-service real estate services at a lesser commission.
💰Lower Commission: With Feel @Home Realty, a seller can get sell their property with just a 1.25% commission against the traditional commission of 5%-6%.
📱Additional Features: Sellers can avail of professional photography and videography of their property. They also get updates from time to time so that they don’t miss any crucial information about their listing.
👨💼Agent Management: Right from the beginning they give you personalized attention and support throughout your entire sale process. Besides the showing and listing, they also help in promoting your listing on social media to generate leads.
- Full-service real estate services at a lower price.
- Professional photographer/videographer to shoot your property at the best angle possible.
- Timely feedback during every step of the process.
- Comparative Market Analysis to provide sellers with the right price for their house.
- Dedicated staff to overlook every minute detail of the sale process.
No credible sources were found to provide the reviews.
Feel @Home Realty only covers New Jersey.
If you are looking for discount real estate brokers that are easy on the pocket for high-valued homes, Houwzer is the option you should explore.
💰Save On High Commissions: With a $5000 flat fee, this low commission Realtor is ideal for homes with a value above $1M. For low-value homes, you may want to look for other options.
📱Additional Features: Houwzer provides professional photography, 3D virtual tours, social media, email marketing, MLS listing, and syndication on real estate websites.
👨💼Agent Management: The platform is more of a full-service brokerage that caters to sellers’ needs from start to end. Houwzer does provide low-commission real estate agents to aid in the selling process. However, there is a drawback – the limited agents cater to thousands of customers leading to degraded quality of service sometimes.
Houwzer has an average rating of out of 5 on Yelp.
Houwzer covers only Florida, New Jersey, Maryland, Pennsylvania, Virginia, and Washington.
- Listing Fee: 1.5% of the sale price
- Available in 80+ U.S. Markets
- 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.
- 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 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.
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 companies, 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!!
- 👩💼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 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.
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!
Alternatives to Discount Real Estate Brokers in NJ
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%.
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!
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.
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
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.
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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