Home prices in Rhode Island have increased by 12.6% Y-O-Y and are now at a whopping $459,900. Simultaneously, mortgage rates have witnessed a sharp decline from 7.79% in Oct 2023 to 6.63% in Jan 2024. The market is booming for both sellers and buyers. If you want to sell your home or buy a new one, NOW is the time to do so!
Real estate companies can help you get access to the MLS quickly. Whether you use a Flat Fee MLS company or a discount brokerage, you will receive a quick and affordable real estate transaction.
Top 6 Rhode Island Real Estate Companies:
-
For Home Sellers
- Houzeo: Best Technology
- Redfin: Best for Marketing Properties
- Century 21: Expert Assistance
-
For Home Buyers
- Long Realty Co: Best for Local Market
- Berkshire Hathaway HomeServices: Best for First Time Buyers
- Zillow: Best for Buying Properties
Best Real Estate Companies for Home Sellers in Rhode Island
Discover the best home-selling companies in the Ocean State. From lively Newport to the beautiful Warwick, we have found the 3 best companies for you.
1. Houzeo
100% ONLINE
Listing Fee: $249Houzeo is a high-tech platform that streamlines listings, updates, and online showings/offers. Choose from 3 Flat Fee MLS packages to simplify your home sale.
- Silver Package – $249 + 0.5% at Close: You can upload 24 photos, and your listing term will be 6 months. You can also make unlimited changes to your listing.
- Gold Package – $299 + 1% at Close: You can post the maximum number of photos, avail licensed broker assistance, get access to seller disclosures, and a premium yard sign.
- Platinum Package – $349 + 1.25% at Close: You get virtual full assistance from a licensed broker and a 12-month listing term.
Houzeo is America’s #1 Flat Fee MLS service because of these reasons:
- Max Exposure: Your home listing is syndicated to popular real estate websites like Zillow, Trulia, Realtor.com, etc., increasing its visibility.
- Quicker Sale: Houzeo’s Homes For Sale page showcases your home to thousands of buyers, which may result in a faster sale.
- 100% Online: You can list your home, manage offers, and close deals, all at your fingertips with a powerful mobile app.
- 5-star Customer Service: You have access to listing support and chat services 6 days a week.
- No Hidden Fees: What you see is what you pay. Houzeo mentions all of its fees upfront on its website.
There are no dealbreakers with Houzeo.
» Is Houzeo Legit? Discover why so many homeowners are choosing Houzeo to list their properties.
Houzeo is rated an impressive 4.9 out of 5 stars by thousands of home sellers on Google and Trustpilot. Homeowners also praise the Houzeo Mobile App, which helps them list, manage, and close their home sales seamlessly—right from their phones.
» Houzeo Reviews: Rated “Excellent” by 11,000+ happy home sellers.
👉 Our Take: We recommend Houzeo’s Gold Plan for most home sellers. It gives you maximum exposure, highest savings, and access to Houzeo technology features. A licensed broker will also assist you with pricing your home, offer negotiations, inspection, and closing.
2. Redfin
Refund/Rebate Program
1-1.5% Listing FeeFor home sellers, Redfin.com has three main features:
- 1.5% Listing Fee: Redfin charges a 1.5% discounted listing fee. This fee is further reduced to 1% if you also buy a home with a Redfin agent within a year.
- Professional Assistance: The standard package includes services from listing to closing, that is, from pricing assistance to closing coordination.
- Redfin Concierge: For high-value luxury homes, Redfin offers services like home staging, deep cleaning, and select renovations for additional costs.
Redfin.com offers these features for home buyers:
- Technology-Driven Search: Redfin offers powerful search tools, including map-based searches, saved searches, and instant updates on new listings.
- Redfin Agents: Some Redfin agents may offer a different incentive structure than traditional commission-based agents, making negotiation possible.
- Refund/Rebate Program: In some markets, buyers receive a portion of the buyer’s agent commission back as a refund at closing.
Here are some advantages of choosing Redfin:
- Cost Savings: You pay significantly lower than the traditional 3% listing/seller agent commission. Plus, you could qualify for a rebate.
- Professional Marketing: Professional photography and 3D walkthroughs are a part of Redfin’s standard package. This enhances a home’s online presence.
- Advanced Technology: With 40+ filters to narrow down your search, the Redfin app makes it easy to find the right home.
- Local Agent Assistance: Local agents know their market better and can help you secure a good deal.
Here are some limitations we found with Redfin:
- Minimum Fees are Applicable: The 1.5% commission is a minimum percentage and varies by market.
- No Freedom in Agent Selection: You get an agent assigned automatically without having a choice in the matter.
- Service Variation: Redfin agents often handle a high volume of clients. This may limit personalized attention and reduce the range of services you receive.
- Poor Customer Reviews: Customers have complained that agents are often unreachable and unprofessional.
Redfin has an average rating of 4.3 out of 5 stars from 60+ reviews on Google.
» Redfin Reviews: The reality of the 1% fees, pros, cons, and alternatives!
Redfin delivers a tech-forward real estate experience. You get services like home pricing guidance, professional photography, and digital marketing. Redfin also serves as a home-buying tool as it lets users schedule showings and connect with local agents. However, you don't get to select your agent yourself.
Redfin is primarily known for its advanced tech platform and mobile app. It covers 80+ markets in the US.
However, Redfin’s listing agreement states they will list your property on the MLS in 18 days. Services like Houzeo will list you on the MLS within 24 to 48 hours.
3. Century 21
Brand Recognition
3% - 6% CommissionCentury 21 is a traditional real estate brokerage with a franchise model. For sellers, it offers:
- Traditional Commission Model: You can negotiate the Realtor fees to some extent and have it split between the listing and buyer’s agents.
- Comprehensive Marketing: Your agent’s service includes pricing strategies, professional photography, listing on the MLS, and managing showings.
- Seller Ready Program: Some franchises provide this program that offers a line of credit for home improvement and staging, repayment due at closing.
For home buyers, Century 21 provides:
- Local Agent Expertise: You are paired with a local agent who offers extensive knowledge of the area and guides you from pre-qualification to closing.
- Global Reach: As a globally recognized brand, Century 21’s network gives you access to a vast number of listings and resources.
- Full-Service Support: Your agent assists with all aspects of the purchase, from property search to negotiating the offer and contract.
Here are some advantages of choosing Century 21:
- Strong Brand Recognition: As a globally recognized brand, Century 21 offers trust, reliability, and good experiences related to real estate transactions.
- Full-Service Experience: The company provides a professional real estate experience through their agents who assist you on every step of the way.
- Vast Network: Century 21 offers wide coverage and local expertise through its massive network of independent brokerages and thousands of agents.
Here are some disadvantages of choosing Century 21:
- Higher Fees: Century 21 does not really offer commission rebates for buyers or discounted listing fees for sellers, which means higher costs for consumers.
- Service Variation: The company is a franchise network and so, the quality of service can vary from one office or agent to another.
- Lack of Transparency on Costs: Fees and commission structures are not publicly listed. So, you need to negotiate with the local agent properly.
Century 21 has a rating of 1.2 out of 5 stars from 100+ reviews on Consumer Affairs.
Century 21 offers sellers comprehensive support, including professional marketing, pricing analysis, and a wide-reaching listing network to maximize exposure. For buyers, affiliated agents provide full-service assistance from the initial search and property showings to expert negotiation and transaction management.
Century 21 is the world’s largest real estate company located in New Jersey. It has over 14000 independent franchises. Founded in 1971, it has become one of the most recognizable brands in the real estate industry.
It is known for its innovative marketing and technology. However, many customers have reported delayed services and high agent fees.
Best Real Estate Companies for Home Buyers in Rhode Island
Explore the top home-buying companies in Rhode Island. From Westerly to Bristol, you can discover affordable Rhode Island real estate listings.
1. Long Realty Co
Local Expertise
Based in Rhode IslandLong Realty Co is the most preferred company in Rhode Island, Connecticut, and Massachusetts. They can help you find a home fast given their local expertise.
However, they have not disclosed their pricing on their website.
👉 Our Take: Long Realty Co is a market leader in the Rhode Island, Connecticut, and Massachusetts real estate market. They can be a good option if you are buying properties in the state.
Here are the highlights of Long Realty Co:
- Local Expertise: Long Realty Co. mainly serves Rhode Island, Connecticut, and Massachusetts. They have local expertise that makes them unique from other realtors.
- Team of Experts: Long Realty Co is one of the most preferred teams across the state. Their expertise and customer-focused approach will help you buy your dream home.
We did not find any deal breakers for Long Realty Co.
Long Realty Co has 4.8 stars out of 5 on Google reviews.
Long Realty is a real estate market leader in Rhode Island, with a focus on homes, farms, and land. It serves buyers across the state and it has a premier real estate team.
However, many sellers have reported inconsistency from their real estate agents.
2. Berkshire Hathaway HomeServices
💫 Luxury Listings
Based in Minneapolis, MNBerkshire Hathaway HomeServices is a real estate brokerage franchise in the US. Headquartered in Minneapolis with over 44,000 real estate agents and 900 offices, BHHS makes over $136 billion annually in residential real estate transactions.
- No Service Fee: As a buyer, you can register with Berkshire Hathaway HomeServices for free of cost.
👉 Our Take: Berkshire Hathaway HomeServices provides its services to all kinds of home buyers whether you are a first-time home buyer or a luxury home buyer.
» Selling a House: Things you need to know!
Key highlights of BHHS include:
- Search Tool: BHHS provides you with a search tool so you can browse through a variety of homes available in the market.
- Assistance in Paperwork: The agents handle all paperwork for you in relation to buying a house.
- Market Knowledge: BHHS agents provide practical knowledge and guidance based on years of local market expertise. With in-depth property and community information, they help you finalize your dream home.
- Mortgage Calculator: They provide a mortgage calculator by which you can figure out the monthly payments of a home mortgage loan, based on your desired home’s sale price.
- Start to Close Assistance: BHHS agents are experienced in handling all phases of the purchase process, including home inspections.
Few red flags we found about Berkshire Hathaway include:
- Inconsistent Agent Quality: Since BHHS franchises are independently owned and operated, agent experience differs from one location to another.
- Poor Reviews: Customers have complained about delayed transactions and a lack of communication from the agent’s end.
Berkshire Hathaway has a rating of 2.5 out of 5 from 60+ reviews on Best Company.
Berkshire Hathaway is headquartered in Omaha, Nebraska. It is known for selling high-end luxury properties. It provides buyers with unlimited access to their daily updated listings with pictures, details, property features, and nearby amenities to help them choose the best home.
You can also opt for their email updates that apprise you of new homes on the market. However, Berkshire Hathaway HomeServices Texas Realty offers its services mainly in Austin and nearby areas.
3. Zillow
Largest Marketplace
Based in WashingtonZillow ranks among the top real estate sites. It is known for user-friendly buying and renting tools which offers a smooth experience.
- Zillow Premier Agent: You can connect directly with an agent and check commission fees. Typically, a buyer agent charges a 2%-3% commission on the sale price.
Top Zillow Features for Buyers:
- Extensive Listings: Zillow offers a wide range of properties for sale, rentals, and foreclosures.
- Mortgage Calculator: It allows you to compare mortgage rates from lenders. You can pre-qualify for a loan through Zillow Home Loans.
- Zestimate Tool: It provides property estimates to assess fair market value.
Here are some drawbacks of Zillow:
- Outdated Listings: Some property listings may not be updated in real time. Homes marked as “available” may be already under contract or sold.
- User-Generated Content: Home details and photos heavily rely on user input, which can sometimes be inaccurate.
- Overwhelming Ads: The site has frequent promotions and ads, which can slow down your search.
Zillow has a rating of 1.3 out of 5 stars on Consumer Affairs.
» Zillow Offers Reviews: Everything you need to know about Zillow.
Zillow is the most popular real estate website in America. It was founded in the year 2006 and is headquartered in Seattle.
Moreover, Zillow extracts data from top MLS platforms. It helps buyers view the listings directly on the platform.
3 Best Real Estate Companies To Work For in Rhode Island
A real estate company employs licensed agents to represent local buyers and sellers. As a real estate agent, you must consider the following factors in a real estate company – commissions, training, agent equity, revenue share, profit share, and technical support.
1. eXp Realty
eXp Realty, a cloud-based platform is a booming real estate brokerage that has garnered a reputation for being a great workplace. It has a 4.3 rating out of 5 on Indeed.
- Commission Split: The agents keep 80% of the commission and 20% goes to eXp. After the agents hit the $16,000 cap in their anniversary year, they retain 100% of the commission.
- Revenue Share: eXp Realty’s Revenue Share Program lets agents earn a percentage from the revenue of the agents they’ve sponsored.
- Agent Equity: eXp agents are rewarded with shares of EXPI stock upon accomplishing specific goals.
- Training Program: eXp Realty runs the 2-week Fast Start training program for its new agents. This holistic curriculum has been rated a 4.8 out of 5 by agents who have completed the program.
- Technical Support: eXp Solutions offers agents cutting-edge tools to make the real estate transaction seamless.
The Rise of eXp Realty: Check out how eXp Realty is beating Compass and Keller Williams
2. Keller Williams Realty
Keller Williams Realty is one of the largest residential real estate firms in the US. It has opportunities for both new and experienced real estate agents. It has a 4.3 out of 5 rating on Indeed.
- Commission Split: From the commission, 64% goes to the agent, 30% goes to KW Market Center and 6% is to be paid by the agent as a franchise fee ($3,000 is the cap). Once an agent hits the cap, the commission goes entirely to the agent.
- Profit Share: KW’s Profit-Sharing Program lets agents earn a portion of the profit from the agent they’ve referred.
- Training Program: KW provides a training program that teaches agents the core principles of running a successful real estate business.
- Technical Support: KW Command is a CRM software that equips agents with the necessary tools to handle real estate transactions from start to close.
3. Compass
Compass is a licensed real estate brokerage that combines talent with innovative technology to handle real estate transactions. It has a 4 out of 5 rating on Indeed.
- Commission Split: The commission split for agents in Compass is unclear. It’s based on an agent’s discussion with Compass.
- Training Program: Compass Academy, an arm of Compass provides educational resources such as modules, and live sessions to train its agents.
- Technical Support: Compass provides agents with a comprehensive set of innovative tools such as Marketing Center, Compass CRM, Compass Markets, and more.
How to Choose the Best Real Estate Company in Rhode Island?
You can choose the best real estate company in Rhode Island based on these factors:
- Strong Technology: A company’s website should have robust technology that can make selling or buying a house faster and more efficient. Also, look for features like virtual tours, high-quality photos, and user-friendly interfaces.
- Responsive Customer Service: Having good customer service can help you with smooth real estate transactions. Find a company that offers prompt and also have helpful customer service.
- Maximum Exposure: Find a company that will give maximum exposure to your property, especially if you want to list for sale by owner. This could also include an MLS listing, social media advertisement, and customizable yard signs.
For Real Estate Agents
A real estate agent must consider the following points while browsing real estate companies in Rhode Island.
- Commission Model: Real estate agents and RI realtors work on commissions. When you sell a house, you split the profits with your broker. A broker charges varied commissions. Some brokers do offer salaried positions, but they are rare.
- Commission Breakdown: Let’s say you sell a $300,000 home where the average commission in your area is 6%. This 6% is split between the buyer and seller’s agents. Now you’re down to 3%, or $9,000. A 60/40 commission splits mean you get 60% of $9,000, or $5,400. Of course, this is pre-tax.
- Training Modules: Most real estate companies provide training courses to their agents. Franchise companies like RE/MAX, and Keller Williams offer programs to train agents.
- Tech Support: Top real estate companies equip their agents with the latest technology to keep them on par with the competition. Most companies have automated systems to help agents keep track of clients, leads, and emails.
- Marketing & Advertising: Real estate companies also provide agents with high-quality digital and print materials, custom graphics and ads, professional photography, and database management systems to ensure exposure to the customer’s property.
Final Word
Real estate companies help you ace your home selling or buying journey. However, before you choose a real estate company in Rhode Island, we suggest you conduct thorough research.
The basic requirements for a good real estate company are experienced and dedicated agents, maximum savings, tech-savvy, and quick transactions. With Houzeo, you get all these factors on one single platform.
Eager to Know How Houzeo Works?
We’ve got you covered. Check out the following video to understand how Houzeo works and why it is one of the best For Sale By Owner websites in the U.S.
» NEED MORE CLARITY? Read these exclusive Houzeo reviews and learn why Houzeo is Rhode Island’s best home buying and selling website.
