From NYC to Buffalo, sellers across New York can save thousands on real estate agent commissions. With discount real estate brokers in New York, you can slash the traditional 6% rate down to just 2% to 3%.
The current median home price in New York is $776,500. The traditional 6% commission will cost you a whopping $46,590. A discount Realtor offers you similar services at just 1.5%. With a competitive buyer agent commission of 2.5%, you now have to pay only a 4% fee. That’s just around $31,060.
You can lower this amount to around $23,295 if you list on the MLS with Houzeo’s Gold plan. You also get the professional services and tools available to real estate agents at a fraction of the cost.
Rankings: Best Discount Real Estate Brokers and Companies in New York
We’ve researched and compiled a list of the best discount real estate brokers for you.
| Rank | Discount Real Estate Broker / Company | Listing Fee | Additional Charges | Max Savings | 100% Online | Mobile App |
|---|---|---|---|---|---|---|
| 1. | Houzeo.com | $399 Flat Fee | ❌ | ✅ | ✅ | ✅ |
| 2. | Prevu | 1.5% commission | ❌ | ❌ | ❌ | ❌ |
| 3. | Get More Offers | $99 Flat Fee (Varies) | ❌ | ❌ | ✅ | ❌ |
| 4. | Homelight | 2.5% - 3% (Varies) | ❌ | ❌ | ❌ | ❌ |
| 5. | UpNest | 4.3% Commission | ❌ | ❌ | ❌ | ❌ |
Reviews: 5 Best Discount Real Estate Brokers in New York
1. Houzeo.com
#1 Discount Real Estate Service
Houzeo.com
- Listing Fee: $399
- Available nationwide
4.9/5
(8,400+ Reviews)
4.9/5
(8,400+ Reviews)Houzeo is a top technology-driven real estate platform. It offers 4 different packages:
- Bronze Package ($399): List your house for 6 months. You can upload 24 house photos.
- Silver Package ($399+0.5% at Close): List your home for six months and post maximum photos. Unlimited open houses and listing modifications are included in this package.
- Gold Package ($429+0.5% at Close): This gives you all the benefits of the Silver package. It also provides licensed broker assistance, contract review, etc.
- Platinum ($449+1% at Close): This package offers virtual full-service support with a licensed broker. You can list for 12-month. Brokers assist you in negotiations, disclosures, and closing.
👉 Our Take: We recommend Houzeo to all home sellers. The company has an excellent customer rating of 4.9 out of 5 stars. It has extensive coverage across 47 states + DC, a feat achieved by only a handful of other services.
» Houzeo Reviews: Houzeo is 100% online. You can finish listing formalities within 60 minutes.
These are the key features that make Houzeo one of the top discount real estate brokers:
- Significant Commission Savings: You will pay just a small flat fee to list on MLS. On average, home sellers who used Houzeo saved $11,490.
- No Hidden Fees: All costs are disclosed upfront so you don’t have to worry about hidden charges.
- Near Nationwide Coverage: Houzeo operates in 47 states and DC, with ongoing plans for expansion.
- Max Exposure: Houzeo packages give you access to renowned MLS companies.
- Advanced Technology: Eliminate the hassle of extensive paperwork. E-signature and online forms make house listing quick and easy.
- 5-star Customer Service: Dedicated customer support addresses your every concern easy.
- Mobile App: Houzeo’s mobile app lets you manage showing requests from verified buyers and buyer agents. You can either accept, reject, or reschedule showings at your convenience.
There are no dealbreakers with Houzeo.
» Houzeo Reviews: Houzeo is rated “Excellent” by 8,400+ happy customers on Google Reviews and Trustpilot!
Houzeo Reviews: With over 8,400+ happy customers, Houzeo is the most trusted discount real estate broker.
Houzeo is America’s #1 ranked real estate brokerage company. It provides an unbeatable combination of max savings, 5-star customer support, and cutting-edge technology.
Houzeo’s flat fee feature helps you save thousands on agent commissions. You also get dedicated customer support that makes the home-selling process much easier and effortless.
2. Prevu
RESTRICTED COVERAGE
Prevu
- Listing Fee: 1.5% of Sale Price
- Restricted coverage
- 5/5
(528+ Reviews
)
Prevu is a reliable discount real estate broker. It offers full service to sellers similar to a traditional broker.
- Full Service (1.5% Commission): Prevu charges a 1.5% commission on the total home sale value. It includes features like home valuation, professional photographs, closing assistance, etc.
👉 Our Take: Prevu offers services from listing your home to its closing. It charges you a non-negotiated commission of 1.5% of the home sale value. However, for a high-value residence, it could cost you more commission.
» Prevu Reviews: Is it a good idea to choose them? To learn more, read the entire review!
Prevu offers the following advantages:
- Package Features: It includes various features like home valuation, 3D virtual tours, open houses, professional photographs, listing on MLS, and social ad campaigns.
- Market Exposure: Prevu syndicates your listings to StreetEasy, Zillow, and more.
- Closing Costs Calculator: Sellers in NYC can get an estimate of their closing costs by using its closing costs calculator.
- Coverage: Prevu services are available in New York, Massachusetts, Connecticut, California, Pennsylvania, and Washington.
» How Does Prevu Work? Learn about how Prevu functions in your home sale.
Prevu offers the following disadvantages:
- Inconsistent Agent Quality: Prevu has a limited network of agents. Hence, it lacks personal assistance and service quality.
- Variable Listing Fee: The listing fee varies as per your location, which could burn a hole in your pocket.
- Mobile App: It does not provide any mobile application service to its users.
Prevu has a stellar rating of 5 out of 5 on Google.
» Prevu Real Estate Reviews: View their comprehensive evaluation.
Prevu Real Estate is a licensed brokerage located in New York. It has highly qualified agents and over 500 positive reviews on Google.
However, Prevu has a small team of agents who deal with many clients. This limits your ability to select an agent of your choice.
3. Get More Offers
GOOD EXPOSURE
Get More Offers
- Listing Fee: $99 (Varies)
- No credible reviews found.
Get More Offers is a real estate software management system with a discount real estate broker e-commerce website. They also offer flat fee MLS listings.
- Pro Package ($0 Upfront): This is a full-service package that includes 6 months listing, CMA, pricing and negotiation assistance, professional photography, and concierge onboarding
- Solo Package ($99 Upfront): This package is ideal for builders, investors, and experienced sellers. It includes 1-year listing term, instant buyer lead forwarding, and a free yard sign.
👉 Our Take: Get More Offers can be cost-effective for sellers with houses priced at more than $300,000. However, they do not offer any benefits for buyers.
Get More Offers is a decent option if you want to sell or buy your house in New York.
- Market Exposure: With the ‘PRO’ plan home-sellers get their house listed on not just the MLS but also on other platforms such as Realtor.com and IDX+. They also use custom flyers and brochures for marketing.
- Full Service: The ‘PRO’ plan includes services like pre-listing consultation, contract negotiations, and professional photography, to name a few.
- Buyer Rebate: Get More Offers provides up to 66% buyer rebate. However, it is only for new construction.
- 100% Online: Get More Offers provides online services. Your listing process will be quick and hassle-free.
In our research, we have found no deal breakers with Get More Offers.
No credible reviews were found.
Keith Robert Gordon and his partner, Erin Knorr, started GetMoreOffers.com in 2005. The company is a combination of a real estate software management system and a discount real estate broker e-commerce website.
Get More Offers gives your home far-reaching exposure. Their ‘PRO’ plan includes services like pre-listing consultation, contract negotiations, and professional photography.
4. Homelight
GOOD AGENT COVERAGE
HomeLight
- Listing Fee: 2.5%-3% (Varies)
- Good agent coverage
- 4.6/5
(290+ Reviews)
4.6/5
(290+ Reviews)HomeLight is an agent-matching service provider. Its technology-based platform provides agent suggestions within minutes.
- Brokerage: HomeLight does not charge any fees to buyers or sellers. The agent pays a referral fee to HomeLight at the time of closing.
👉 Our Take: HomeLight connects you with a local agent to help you sell your house. The agent charges you around 2% to 3% as per his customized services including the HomeLight’s referral fee. This will ultimately make you pay more than other discount real estate brokers.
» How Does Homelight Work? Know how HomeLight can get you a better home sale experience.
HomeLight offers several advantages:
- Quick Pairing: HomeLight connects you with the list of agents within two minutes of your online form filling.
- Representative Network: HomeLight has a database of over 28,000 agents. This allows you to compare the agents and select the best one based on discounts, experience, and sales records.
- Coverage: Their services are available in 16 locations across the major U.S. cities.
» Homelight Pros & Cons: Know about their offerings that would help you sell your house seamlessly.
Below are some of the major drawbacks of using HomeLight:
- Non-Negotiable Commissions: Every agent has to pay a referral fee to Homelight. Hence, you lose the ability to bargain for the commission.
- Off-Market Restriction: You can instantly receive bids from agents by registering on HomeLight.
- Inconsistent Agent Quality: The assigned agents may not work at your convenience. Even the listing speed will be based on the agent selected.
HomeLight has a rating of 4.6 out of 5 stars on Sitejabber.
» HomeLight Reviews: See their reviews to make an informed decision.
HomeLight is an agent-matching company established by Drew Uher in 2012. It is a single platform where home sellers meet their prospective home buyers.
HomeLight has a huge broker database. Every agent handles multiple clients at a time. This may lead to miscommunication and a lack of personalized support.
5. UpNest
Negotiable FEES
UpNest
- Listing Fee: 4.3% of the Sale Price (or as decided by the agent)
- Available in all major cities
- 4.7/5
(295+ Reviews)
4.7/5
(295+ Reviews)UpNest is a marketplace that connects home sellers and buyers with local agents.
- Pricing: UpNest does not charge you any upfront fee. It allows their agents to discuss the pricing with you like commission, fees, discounts, etc.
👉 Our Take: UpNest introduces you to 2 to 3 agents once you register on their platform. You may face trouble in evaluating these agents concerning their experience and knowledge.
» Is UpNest Legit? Find out if UpNest can be the best option for your house sale.
UpNest offers certain advantages:
- No Fees: UpNest does not charge you an upfront commission. Instead, you are introduced to an agent to discuss the services and commissions.
- User-Friendly Dashboard: It has a user-friendly dashboard which makes it easy to compare agent profiles.
- No Obligation Service: UpNest connects you with multiple agents as soon as you sign up with them. If you are not satisfied, then you can simply walk away.
- Nationwide Coverage: Prevu offers service throughout the US. It connects you with the local agent who has current market insights.
» What is UpNest? Read the comprehensive study for UpNest to learn more details!
UpNest has certain disadvantages:
- Lower Savings: The commission depends on your negotiation with the agent. A higher commission fixed would make you pay more.
- Uncertain Customer Service: Some customers share feedback of agents being extremely helpful and knowledgeable. However, less experienced agents struggle to answer simple questions.
» How Does Upnest Work? Agent-matching at UpNest is pretty straightforward. Check it out!
UpNest has a rating of 4.7 out of 5 stars on Google.
» UpNest Reviews: How Much Will it Save You in 2023?
UpNest is a licensed agent-matching brokerage headquartered in California. The parent company, Move, Inc. (Realtor.com) acquired Upnest in June 2022.
UpNest pairs you with local agents with proven sales records. However, you may end up paying a high commission to the agent.
What Are Discount Real Estate Brokers and Companies?
Discount real estate brokers are companies or agents who sell your home for less than the standard 2.5% to 3% commission. Such low-cost real estate agents typically offer the same services for reduced fees of 0.5% to 2% or a flat fee.
How Much Can I Save With a Discount Realtor in New York?
As a seller, you can save anywhere between $10,000 and $20,000.
Typically, home sellers pay a total of 6% as Realtor commissions to both the listing agent and the buyer’s agent. Whereas, with discount real estate brokers you can pre-negotiate this at 1% to 2%.
As a home buyer, you get a buyer’s rebate – a type of cashback received after the sale. A typical buyer rebate is 1% to 2% of the home’s purchase price. For example, Redfin offers a buyer rebate of 0.5% to clients who sell and buy with Redfin within 1 year.
Types of Discount Brokers in New York
The four major types of real estate discount brokerages and companies in the Empire State are as follows:
1. Flat Fee MLS Companies: Flat Fee MLS companies get you on the MLS for a small flat fee saving you thousands in commissions. The best Flat Fee MLS listing companies like Houzeo can get you on the MLS within 24 hours, or even faster!
2. Flat Rate Full-Service Companies: These companies charge a fixed fee instead of the regular 3% commission. This amount can be anywhere between $3,000 and $5,000. A flat-rate Realtor is perfect for homes priced on the higher end.
3. Low-Commission Estate Agents: Low-commission discount brokers offer full-service packages at only 1% or 2% of the usual fee. They cover everything from listing to negotiations and pricing. They are also called 1% commission Realtors or 2% commission brokers, etc.
4. Virtual Full Service: A virtual full-service discount broker handles everything online. All services, including negotiation and marketing support, are at no additional cost.
Pros and Cons of a Discount Realtor
Here are the pros and cons of discount Realtors:
Pros ✅
- Reduced Fees: You’ll pay less for listing agent fees. While standard brokers typically charge at least 3%, discount brokers may charge as little as 0.5% to 1%.
- Full Access to Basic Services: You receive the same services as you would with a traditional agent. They assist with home pricing, marketing, and negotiations.
- Streamlined Process: A low-cost Realtor provides similar services as traditional agents. They streamline the process of listing your property on the MLS, marketing the property, negotiating offers, and assisting with paperwork.
Cons ❌
- Not Enough Savings: Some discount brokerages may charge hidden fees or sell their services a la carte. This might add to your expenses.
- Not for First-Time Sellers: Most discount real estate brokerages are digital, so you rarely talk to anyone in person. A first-time seller or buyer who needs some hand-holding may not be able to get benefits.
- Lack of Personal Attention: Discount Realtors handle multiple clients at once to make up for the reduced commission rate. They may not be able to provide personalized services.
- High Cancellation Fee: A discount realty company can charge a minimum withdrawal fee within a specified period. Remember to carefully review the terms and conditions of the contract before signing.
Who Should Use a Discount Broker?
Discount brokers are ideal for:
- Sellers on a Tight Budget: Homeowners who wish to save money should list with a low-fee Realtor. This can help them save big.
- Real Estate Investors: Real estate investors who frequently trade homes can benefit from low-commission discount brokers.
- House Flippers: Home flipping is a strategy where an investor purchases a property to renovate it and sell it for a profit. Home flippers can save thousands on agent commissions by selling via discount brokers.
Alternatives to Discount Real Estate Agents in New York
Here are some options if you do not want to opt for a discount Realtor in New York.
- 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 New York markets. iBuyers can be a great option if you want to sell your house fast in New York.
- Sell to Cash Home Buyers: Individual cash home buyers and companies make all-cash offers, usually within 24 to 48 hours. Cash buyers let you skip the hassle of listing on the MLS, inspection, appraisal, etc.
- Sell For Sale By Owner: For Sale By Owner websites in New York will help you list and sell a house by owner and save thousands in listing agent commission.
Are Discount Brokerages Worth It?
YES! There are various advantages to using a low-cost real estate agent. Using an affordable brokerage can save you at least $8,000 to $10,000.
There are several discounted real estate brokers on the market today, each with its own set of advantages. Examine factors such as listing fees, listing time, services provided, customer service, and coverage before you choose one.
With Houzeo, you can get your home on the MLS in 24 hours for a small flat fee. You also get extra savings and services like access to an offers dashboard, showings management, and more.
Eager to Know How Houzeo Works?
Houzeo is the #1 For Sale By Owner website in the U.S. Check out the following video to understand how Houzeo would help you crack the deal faster in 5 steps.
How to List on MLS With Houzeo?
5 Easy Steps to List on MLS with Houzeo as FSBO
» NEED MORE CLARITY? Read these exclusive Houzeo reviews and learn why the platform is the best in America’s competitive housing market.
Frequently Asked Questions
Who are the best discount real estate brokers in New York?
Houzeo.com, and Prevu are the top discount real estate brokers in New York.
How much is the real estate agent fees in New York?
On average, traditional agents in New York, charge 5% to 6% of the sale price as commission. On the other hand, discount real estate brokers charge 1% to 3% commission.
How do I find low cost discount realtors near me to sell my home?
You could do a Google search, go with an agent from one of the national discount brokers like Redfin, or list your home using Houzeo. With Houzeo, your home will be listed on the MLS without the added expense of a listing agent.
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