You save a whopping $19,050 when selling a median-priced $635,000 home in Washington DC. But how? With a discount real estate broker in Washington DC, you can skip the hefty 3% listing agent commission. This allows you to list your home for as low as 1% or a flat fee and save thousands of dollars!
That’s not it! These brokers help you list your property on the MLS giving maximum exposure as 43% of buyers search properties online. In addition, discount brokers offer affordability with full service making them ideal for cost-conscious sellers.
Rankings: Top 5 Washington DC Discount Real Estate Brokers
As Washington DC’s real estate market continues to rebound post-Hurricane Idalia, home sellers are exploring ways to cut costs. With rising repair and insurance premiums, sellers want to retain more of their home sale profits.
One effective way to do this is to sell with a discount real estate broker in Washington DC. They offer lower commission rates and services compared to traditional Realtors. We’ve ranked the top 5 discount brokerages in the Nation’s Capital State for you to choose from.
Rank | Discount Real Estate Broker / Company | Listing Fee | Additional Charges | Max Savings | 100% Online | Mobile App |
---|---|---|---|---|---|---|
1. | Houzeo.com | $399 Flat Fee | ❌ | ✅ | ✅ | ✅ |
2. | Ideal Agent | 2% Commission | ❌ | ❌ | ❌ | ❌ |
3. | Cottage Street Realty | $299 - $999 Flat Fee | ❌ | ❌ | ❌ | ❌ |
4. | DNK Real Estate | $249 Flat Fee | ✅ | ❌ | ❌ | ❌ |
5. | Redfin | 1% Commission | ❌ | ❌ | ❌ | ✅ |
What Are the Types of Discount Real Estate Brokers?
Washington DC sellers can choose from two main types of discount real estate brokers. Each of these cater to the unique needs of the home sellers:
- Flat Rate Discount Brokers: Also known as Flat Fee MLS companies, they charge a fixed upfront fee to list your home on the MLS. A Flat Fee MLS service costs between $399 to $4,000. These services offer maximum exposure for a low fee.
- Fixed Percentage Discount Brokers: These discount Realtors charge a fixed percentage of the home’s sale price. Typically, this percentage is lower than the traditional 3%. Depending on the broker, these rates may vary from 1% to 2.5%.
Reviews: 2 Best Flat Rate Discount Real Estate Companies in Washington DC
1. Houzeo.com
Houzeo is a top technology-driven real estate platform. It offers 4 different packages:
- Bronze Package ($399 + $350 at Close): List your house for 6 months. You can upload 24 house photos.
- Silver Package ($399+0.5% at Close): List your home for 6 months and post maximum photos. Unlimited open houses and listing modifications are included in this package.
- Gold Package ($429+0.5% at Close): This package offers all the benefits of the Silver package, as well as licensed broker assistance, contract review, and more.
- Platinum Package ($449+1% at Close): This package offers virtual full-service support with a licensed broker. You can list for 12 months. Brokers assist you in negotiations, disclosures, and closing.
👉 Our Take: We recommend Houzeo to all home sellers. The company has a stellar 4.9/5 customer rating. It also provides coverage in 47 states + DC, making it one of the few services with nationwide reach.
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 the MLS. On average, Houzeo home sellers save $12,231.
- 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 easily.
- 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.
- Home Value Estimator: Houzeo’s Home Worth Estimator is online and quick to know the FMV of your home. It provides free home value estimate within 30 seconds.
There are no dealbreakers with Houzeo.
» Houzeo Reviews: Houzeo is rated “Excellent” by 10,100+ happy customers on Google Reviews and Trustpilot!
Houzeo Reviews: With over 10,100+ happy customers, Houzeo is the most trusted discount real estate broker.
Houzeo is the #1 discount real estate broker in Washington DC. The company provides features like IntelliList management to simplify your listing process. Besides this, you get 5-star customer support, advanced technology, showings management, and offers all at your fingertips.
2. Ideal Agent
Ideal Agent is an agent matching company. It offers a single listing package for sellers:
- 2% Commission: Ideal Agent charges a 2% commission to the listing agent, which is lower than traditional rates (typically 2.5 – 3%). On an average home price of $400,000, you will be charged $8,000.
👉 Our Take: The 2% listing fee is competitive, however, the buyer’s agent still gets a 2.5 – 3% commission, bringing the total commission to around 4.5 – 5%. The savings are notable but not as significant as flat-fee brokers.
Ideal Agent stands out with several attractive offerings:
- Top Agents: The platform only works with experienced agents from major brokerages like Keller Williams Realty and RE/MAX.
- National Network: Coverage extends across the U.S., making it a versatile option for sellers nationwide.
It’s important to be aware of these potential drawbacks:
- Limited Savings: Despite the reduced listing commission, the total commission cost isn’t drastically different from standard agents.
- Agent Pool: In less populated areas there may be fewer agents to choose from, limiting flexibility.
Ideal Agent has a rating of 5 out of 5 on Trustpilot.
» Ideal Agent Reviews: Does Ideal Agent benefit you in the 2024 market?
Steve Johnston established ldeal Agent in 2016. It is headquartered in Tampa. It offers all the traditional realtor services with a 2% commission on home sale value.
Ideal Agent lacks a modern technology system. Customers who have used their services have complained about hidden charges.
Reviews: 3 Best Fixed Percent Discount Brokers in Washington DC
3. Cottage Street Realty
Cottage Street Realty is a licensed discount brokerage. It offers its services only in DC, Maryland, and Virginia.
- Basic ($299): This package allows you to list your house for 6 months. You get to upload up to 50 photos, access to state forms and disclosures, and marketing add-ons.
- Showcase ($399): This package includes all the services from the basic plan along with other add-ons. It includes a keybox (upon request), a yard sign (upon request), and house-showing assistance.
- Premium ($799): This package offers a 1-year house listing along with the benefits of the basic and showcase plans. A printable color flyer, market analysis, and closing assistance also contribute to this plan.
- Full Service ($999): Your property is listed until your house is sold. This package includes all the services from the basic, showcase, and premium plans. You also get negotiation assistance, a professionally installed signpost, and a docu-sign contract.
Listing Upgrades:
- Yard Sign – $59
- Unlimited Changes – $45
- Listing Extension – $99
- Market Analysis – $59
- Combo Lockbox – $50
- Docusign contracts – $65.00
👉 Our Take: Cottage Street Realty offers 4 flat fee packages with different offerings. However, the Basic package will make you pay extra for its add-on features like a yard sign, key box, and more. The supreme package looks slightly expensive compared to other brokerages offering similar services.
Based on our research, the benefits of Cottage Street Realty are:
- Access to Legal Documents: All packages include state-wise contracts, forms, addendums, and disclosures you need to sell your house.
- Direct Buyer Lead: Buyer lead will be directly forwarded to you with no agent involvement. This would make the discussions and negotiation easy.
- Market Exposure: Your home gets listed on the local MLS and displayed on all major real estate websites like Realtor.com, Zillow, Trulia, etc.
In our research, we found some limitations of Cottage Street Realty, that could make your experience less satisfactory.
- Extra Charges for Additional Services: Except supreme package, you pay extra for many services in the rest of the packages. It includes a combo lockbox, showing time, a yard sign, etc.
- Less Coverage: It offers real estate services only in DC, Maryland, and Virginia. A property with less exposure stays on the market for a longer duration. This would increase your maintenance costs, mortgage payments, utility bills, etc.
- Limited Reviews: Despite being in the business for over 18 years, Cottage Street Realty does not have enough reviews.
Cottage Street Realty has a rating of 5 out of 5 stars on Google.
Cottage Street Realty was established by Alex Hodge. It is a “locally” operated full-service real estate brokerage company. The company offers its services only in DC, Maryland, and Virginia.
However, you need to pay extra for their services like market analysis, house show time, or to make changes to your listing.
4. DNK Real Estate
DNK Real Estate is a local brokerage that offers multiple Flat Fee packages to sellers:
- Basic Package ($249 ): This package offers a 6-month MLS listing with up to 6 photos and syndication on platforms like Realtor.com
- Deluxe Package ($499 ): This includes 15 photos, MLS listing, sales comparables, and a printable flyer.
- Luxury Package ($799 ): This package offers 25 photos, a yard sign, a virtual tour, sales comps, and an online flyer for maximum visibility.
👉 Our Take: DNK Real Estate offers a good balance of services and pricing, making it suitable for a wide range of sellers. The Deluxe package is one of the best seller packages that helps to sell houses faster.
DNK Real Estate has the following advantages:
- Full-Service Support: The company provides full-service support, handling everything from listing to marketing and negotiations for sellers.
- Flexible Packages: DNK Real Estate offers several packages to its sellers. These can benefit home sellers with different budgets and requirements.
DNK Real Estate has certain drawbacks:
- Outdated Website: DNK Real Estate works with a basic website with no seller’s dashboard, e-sign option, or mobile app. This makes your listing process manual and time-consuming.
- Expensive Add-ons: Even basic add-ons such as a wooden yard sign cost up to $350. You will have to pay $25 to make any change in your house listing.
- Limited Coverage: DNK Real Estate has coverage only in Maryland, Virginia, and Washington D.C. This may restrict the opportunity to attract potential buyers.
DNK Real Estate has no customer reviews on popular sites like Google or Trustpilot.
DNK Real Estate LLC is a full-service real estate brokerage company. It is licensed in DC, Maryland, and Virginia. They offer a range of flat fee packages from $249 to $799.
DNK Real Estate offers competitive flat fee packages, allowing sellers to save money. The multi-state licensing provides broader service options. You can choose packages tailored to your specific needs.
5. Redfin
Redfin offers services in 100+ real estate markets across the country in 49 states.
- Redfin Full-Service Agent – 1% Commission: This package includes pricing assistance, listing paperwork, negotiation support, etc.
- 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: When you opt for Redfin you might get their service 3x faster than the traditional method. However, you may not get personalized attention with less no. of agents for home staging, showings, etc.
Here are some advantages of choosing Redfin:
- Advanced Technology: Redfin is primarily known for its high-tech platform and mobile app.
- Near Nationwide Coverage: Redfin covers 49 states in the US.
- Easy Deal Closings: Redfin agents guide you through paperwork, marketing plans, and negotiations to make your closing easy and faster.
Here are some drawbacks of Redfin based on their customer reviews:
- Pricing Inaccuracy: Many sellers have complained that a lot area, a gated compound, or a city location are not considered during valuation.
- 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.
- Lack of Customer Service: There are a few negative reviews about the lack of personal attention by Redfin agents.
- 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.
- Lack of Personalized Services: Due to agents handling multiple clients at once, customers have often complained that Redfin agents are not able to give personalized service.
Redfin has an average rating of 3.3 out of 5 stars on Yelp and an average of 3.7 out of 5 stars on Google.
» Redfin Reviews: Read more to make an informed decision before selling your home.
Redfin, founded in Seattle in 2002 by Mr. David Eraker, covers 80+ markets in the US. It provides an elaborate listing agreement with a marketing plan for your home.
However, this agreement specifies a long 18-day timeframe for listing your property on the MLS. Additionally, some customers have expressed concerns about the non-availability and unprofessionalism of their agents.
How Much Will You Save With a Discount Real Estate Broker in Washington DC?
You could save up to $9,746 when selling a median-priced $635,000 home with a Flat Fee MLS service in Washington DC.
However, if you pay a standard 3% commission fee, you’d have to pay a whopping $19,050 to your listing agent. But, with Houzeo’s Gold plan, you will only pay $429 with a 0.5% charge at closing.
Details | Traditional Realtor (3%) | Houzeo’s Flat Fee |
Median Sale Price | $635,000 | $635,000 |
Listing Fee | $19,050 | $2,464 |
Savings | $0 | $9,746 |
Pros and Cons of Discount Realtors in Washington DC
Discount real estate brokers in Washington DC offer a great way to save. While this cost-saving option sounds good, it’s important to weigh both the pros and cons:
✅ Pros
- Lower Fees: You’ll pay less than a traditional 3% Realtor. And get access to all the features and tools for a much lower fee.
- Full-Service Support: Discount real estate agents in Washington DC offer all basic home-selling services. This includes assistance with how to price your home, marketing, paperwork, and negotiations.
- MLS Access: Discount brokers help you list your home on the MLS in Washington DC, providing exposure to a maximum no. of buyers.
❌ Cons
- Hidden Fees: Some discount brokerages in Washington DC may charge hidden fees for additional a la carte services. You must do your research and opt for the best discount Realtors in DC.
- Inconsistent Service: Some discounted brokers in Washington DC handle multiple clients at once, so personalized attention may be limited. They do this to make up for the reduced commission rate.
- High Cancellation Fees: A few of the discount brokers may impose a significant withdrawal fee if you cancel your agreement within a specific time frame.
Alternatives to Discount Real Estate Brokers in Washington DC
Here are some other options to consider for selling a house in Washington DC:
- For Sale By Owner Companies: In a FSBO sale, you have to handle every step from listing to paperwork. You can choose For Sale By Owner websites in Washington DC that provide MLS access.
- Cash Buyers: Cash buyers in Washington DC, including iBuyers, investors, and home flippers, actively search on the MLS for the listed properties.
- Full-Service Realtor: If you can’t handle the process yourself, you can opt for the traditional home-selling method. But, you’ll have to pay a 3% commission fee.
Frequently Asked Questions
What are the best discount real estate brokers in Washington DC?
The top discount real estate brokers in Washington DC are Houzeo.com and Ideal Agent. However, Houzeo stands #1 with its 4.9-star rating based on thousands of customer reviews compared to Ideal Agent's reviews.
How much is the real estate agent fees in Washington DC?
On average, traditional agents in Washington DC charge a whopping 3% of the sale price as commission. On the other hand, discount real estate brokerage firms in Washington DC charge a flat fee or a fixed percent of 1%.
How do I find a discount real estate broker near me in Washington DC?
To find a discount Realtor near you, check online reviews and ratings of local discount brokers. Houzeo can list your home on the MLS within 24 to 48 hours and lets you review and compare offers, manage showings everything with mobile app.