|Hidden Fees1||$0||⚠️$450 - $2,999|
|Offers Directly to You2||✅||❌|
|Counter an Offer3||✅||❌|
|Request Highest & Best Offer3||✅||❌|
|Buyer Property Search Feature||✅||❌|
1 Nuance on the hidden charges explained below
2 Offers typically are routed to the brokers. Houzeo’s Offers Platform allows your broker to present the offer to you instantly (video)
3 Houzeo Offers Platform allows sellers to Counter an Offer (video) and Request Highest & Best Offer (video) online
4 Houzeo Showings is available both on Houzeo’s website and on the Houzeo mobile app (video)
5 Available only on weekdays up to 1 pm, and only in select MLS’. After you’ve purchased the Gold or Platinum plans, email email@example.com with the subject line “Expedited Listing Request: <property address>“. Service is free for Gold and Platinum plans customers
Homecoin Review Summary
Homecoin is a tech-centric, Flat-Fee MLS platform that originated in California and now covers an additional 6 US states. It offers $95 Flat-Fee MLS listings, but after all the minimum requirements are satisfied, the total charges can be more than $545. In this review, we’ll look at Homecoin in-depth, and compare it against some of the best Flat-Fee MLS services in California and other states it operates.
What is Homecoin?
Homecoin is a flat-fee MLS service that offers affordable MLS access packages for sale by owner home sellers. You can list your home on the local MLS and websites like Zillow, Redfin, Trulia, and Realtor.com, within 24 hours, for an up-front listing fee of as low as $95.
Homecoin takes pride in its online tools and software that allows the seller to list their homes and edit their listings without having to directly interact with a real estate agent. Sellers are allowed to edit their MLS listing up to 10 times, at no additional cost.
In other words, Homecoin offers you all the online tools and resources that a real estate agent uses to list a property, and Homecoin charges you an upfront fee for it.
However, do not let the too-good-to-be-true $95 upfront fee sway you. Compared to most Flat-Fee MLS services, Homecoin is significantly overpriced. For example, seller disclosures, which are mandatory in the state of California and other states, are not included in the MLS listing package. They are an additional $450 to $2,999. Most competitors include them. Yard sign, typically $50 or less, is almost $100 – and that too a rental. So you’ll have to worry about shipping it back to Homecoin. There’s no showing management service provided in California. So to manage your showings, you’ll have to rent a Supra lockbox, which will set you back by hundreds of dollars more. Oh, did I mention that lockbox is a rental and you need to ship it back to Homecoin?
Once all is said and done, most sellers will pay several times more than $95 to sell their home with Homecoin. We still think working with Homecoin is better than paying the typical 3% commission to a listing agent. But when compared to the best flat-fee MLS services, Homecoin is overpriced.
Is Homecoin Legitimate?
Yes. Apaus, Inc. DBA homecoin.com is a licensed brokerage in California, Florida, Georgia, North Carolina, Tennessee, and Virginia.
How Does Homecoin Work?
Homecoin’s business model is just like any other flat-fee MLS service: you register yourself as a for sale by owner home seller on their platform, you choose the services you need, fill in your personal and property details, and pay an upfront flat fee.
Once you do all this, they will list your home on the MLS (Multiple Listing Service).
Is Homecoin Free?
No. Homecoin is a primarily paid service. Apart from listing on the MLS, they also provide services like comparable sales reports, home value reports, sign post rentals, lockbox rentals, etc. Below is a summary of Homecoin pricing in California as of November 2021.
Is Homecoin’s Pricing Competitive?
Most for sale by owner home sellers will go with at least an MLS listing, and the mandatory seller disclosures in their state. Just that will drive up the price to several hundred more than its closest competitor, Houzeo.com. If you add additional services like a yard sign and showing management (only available as a lockbox), the total will far exceed even the most expensive plan on Houzeo.com, which includes all of these items.
Houzeo offers a flat-fee platinum package of $999 in most states which offers everything from listing on the MLS, seller disclosures, max photos, showing management, pricing assistance, contract reviews, unlimited changes, and full virtual assistance throughout your home selling process.
Upfront Fee Instead of Listing Commission
Both Homecoin and Houzeo are flat-fee MLS services. In other words, they eliminate your need to hire a listing agent while selling your house. This helps you in saving thousands of dollars that you’d otherwise pay as listing agent commissions.
To put that in perspective, the most common range of agent commission is 2.5%-3%, so, according to that range, you’d be saving around $12,500 to $15,000 if your house is valued at $500,000.
Houzeo is one of those rare flat-fee MLS companies that serve all over the United States. For sale by owners in any state can avail benefits of Houzeo’s services and sell their homes while saving thousands of dollars. Houzeo has strong automation and strong coverage in the majority of the states, allowing you to make your home selling process convenient. For better understanding, we have attached a snapshot taken from Houzeo’s website. Homecoin’s coverage is limited to 6 states as of this writing.
Homecoin Coverage Map
Digitization of contracts is currently seeing an uptrend in the real estate industry; as it not only makes the whole process easier but also saves time. Both Houzeo and Homecoin offer digital contracts for listing and listing changes, which means you can complete listing documents instantly. No need to wait for the agent to send you the documents, like in the case of FSBO or Fizber.
Sounds awesome, doesn’t it?
Homecoin stops here though. It doesn’t offer online offers or showing management tools that Houzeo does. Houzeo also offers a mobile app, so you can manage your offers and showings on the go!
The home selling or home buying process is already a complicated process, so why make it even more complex by adding a super-technical user interface on the FSBO platforms.
Houzeo and Homecoin both excel in this aspect. Many of the Homecoin reviews and Houzeo reviews have mentioned that the platforms are easy-to-use and understand. The user experience of these two platforms has won praise among for sale by owner home sellers. Relatively though, Houzeo’s user interface is modern and efficient, especially since it allows you to manage your listing, offers, and showings – all at the same time.
Homecoin and Houzeo both are two of those revolutionary flat-fee MLS companies that have bought major positive changes to the For Sale by Owner world, and quick MLS listing is one of those major positive changes.
Traditionally, a real estate agent would list your home on the MLS after quite a few days, sometimes it would also take weeks. Plus, your listing would also depend on how many clients the agent is handling at the moment; the more the clients they’re handling, the lesser attention your home will get.
However, this is not the case in for sale by owner home selling process. Homecoin and Houzeo both can make your listing live on the MLS within 24 hours from the time you fill and submit your property details. As you are the steerer of your home selling journey, you will be the one listing your home on the MLS; and don’t fret, the process is super simple on both websites.
In many states, however, Houzeo offers Expedited Listing Service – Same day listing if you’ve completed all your formalities correctly by 1 pm EST. Just email firstname.lastname@example.org after completing all your listing tasks with the subject line “Expedited Listing Request: <property address>”. We’ll work with your broker to get your listing live the same day. Note that this service is available in limited states/MLS’ since not all brokers provide this.
Listing on the MLS gives your home the best attention it needs to be sold. Even in today’s time, 88% of buyers buy a home through an agent, and thus MLS becomes your primary source where a buyer can come from. Buyer agents tend to look at the MLS and show the home to their clients.
However, in addition to that, there are multiple other websites like Zillow, Trulia, Redfin, Realtor.com, and many other websites too, which can give your house added exposure. Houzeo and Homecoin MLS listings syndicate to these websites apart from the mighty MLS.
All for a flat fee!
Features for Buyers
What if instead of a seller you are a buyer but don’t have a real estate agent to guide you to your dream home?
If you are buying a house without a realtor then you can simply visit Houzeo and have a detailed look at all the available for sale by owner homes. Once you like the house and would like to make an offer on it, you can simply go to the offer section and make your highest and best offer.
Homecoin doesn’t have such kind of a feature for buyers and for sale by owner sellers on Homecoin would only have to rely on the buyers that agents would bring in.
The FSBO process has its pros and cons and many the home sellers have found it to be effective and easy, but some for sale by owner home sellers might get frustrated a lot because of the work an FSBO process takes and ditch the for sale by owner way and hire an agent!
At this time, you will be needing to cancel your flat-fee MLS package, and what is better than free cancellation? Cancel the service anytime without any additional charges or hidden costs.
Houzeo and Homecoin both offer free cancellation of their services. Many Homecoin reviews and Houzeo reviews have mentioned this to be one of the most attractive features while buying their respective services.
Houzeo vs Homecoin Reviews
Homecoin and Houzeo are two of the best-reviewed flat-fee MLS companies out there.
Some of the most common praises found in Homecoin reviews are that it is easy to use, money-saving on listing agent commissions, affordable flat fee, and some more features as well. Their reviews on authoritative websites like Zillow and Google prove the company’s effectiveness in making the for sale by owner process easier for home sellers.
Houzeo has always won praises for its easy documentation process, simple-to-use platform, amazing user experience, saving thousands of dollars in agent commission, and excellent customer care team.
On both Google and Trustpilot, Houzeo has an impressive rating of 4.9 from 3100+ reviews.
Other Options You Should Consider
1. Sell to iBuyers
iBuyers make an offer on your property within 24-48 hours and can close within 7 days or more. Most iBuyers like Opendoor and Offerpad are also known to offer the Fair Market Value (FMV) for your property.
Selling to an iBuyer has certain significant drawbacks. These include:
- Limited coverage, restricted to metro and urban areas
- Strict eligibility criteria without exceptions
- Non-negotiable offers
- 5% service fee
- 2% – 8% repair costs
👉 Our Take: We recommend iBuyers if your house meets the iBuyer company’s eligibility criteria.
» iBuyer Reviews: Check out rankings, pros, cons & alternatives of top iBuyers in America
2. Sell to “We Buy Homes for Cash” Companies
Unlike iBuyers, “We buy homes for cash” companies help you sell your house as-is fast. They can even close within 7 days or any date you choose. “We buy homes for cash” companies also make cash offers for homes outside metro areas or in difficult-to-sell locations.
Here’s why traditional cash home buyers could be a bad option for you than an iBuyer:
- They make lowball offers and offer only 50% – 70% of market value.
- Their offers are non-negotiable
👉 Our Take: We recommend selling to a cash home buyer if you are selling a distressed house “as-is” without looking for the best price.
» “We Buy Homes for Cash” Companies: Check out America’s biggest cash home buyer companies in 2023
“Cash for Homes” Companies Near You
3. Sell FSBO With Flat Fee MLS Services
Listing with a Flat Fee MLS service gets your house on the market within just 24-48 hours. Selling For Sale By Owner has increased substantially in the past few years, with 77% of FSBO homes being sold in less than 2 weeks.
Flat Fee MLS is one of the best ways to sell your house fast, and it has 4 major benefits:
- MLS is the fastest way to hit the market, plus your listing is syndicated to Zillow, Realtor.com, etc.
- Your listing gets maximum exposure.
- You can negotiate all offers.
- You skip paying commission or service fees.
👉 Our Take: We recommend Flat Fee MLS companies for most home sellers. They are fast, and you will save thousands in commissions.
» For Sale By Owner Websites: Check out the rankings for America’s best FSBO websites
Frequently Asked Questions About Homecoin Reviews
Is Flat Fee MLS Worth It?
Yes, definitely. Flat-fee MLS services like Homecoin and Houzeo will not only make the for sale by owner (FSBO) process easier for you but they will also save you thousands of dollars that you’d pay as 2%-3% to the listing agent.
Does it Cost to List on the MLS?
Yes, it does cost to list your property on the MLS. However, you can buy a flat-fee MLS access package and list your home on the local MLS as well as other websites like Zillow, Redfin, Trulia, Realtor.com, and much more websites, for an upfront, affordable price.
Can You List on the MLS Yourself?
Yes, you can list it as for sale by the owner on the MLS. You don’t need an agent to do that. A simple flat-fee package would allow you to list your property on the MLS.
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