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
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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 PROCESS
Listing Fee: $3994.9/5
Houzeo is a high-tech platform that streamlines listings, updates, and online showings/offers. Choose from 4 Flat Fee MLS packages to simplify your home sale.
- Bronze Package – $399+$350 At Close: You can upload 24 photos and your listing term will be of 6 months.
- Silver Package – $409+$0.5% At Close: You can post maximum number of photos and access seller disclosures.
- Gold Package – $429+$0.5% At Close: You can avail the assistance of a licensed broker to guide you through the listing process.
- Platinum Package – $449+1% At Close: Your home is on the MLS for 12-months. Plus, you get virtual support of a licensed broker.
👉 Our Take: We recommend Houzeo’s Gold plan for expert broker support, including contract review and pricing guidance. Plus, enjoy concierge services that ensure a smooth and successful sale.
» Houzeo Reviews: Find out why 11,098 Americans love Houzeo.
Houzeo is America’s #1 Flat Fee MLS service because of these strong reasons:
- Max Exposure: Your home listing is syndicated to popular real estate websites like Zillow, Trulia, Realtor.com, giving it nationwide visibility.
- 100% Online: You can list your home, manage listings, get paperwork done and close the deal all through a single platform and a powerful mobile app.
- 5-star Customer Service: You have access to 24/7 listing support with chat and email 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? Houzeo addresses home sellers concerns with efficiency.
Houzeo is rated an impressive 4.9 out of 5 stars by thousands of home sellers on Google and Trustpilot.
» Houzeo Reviews: Rated “Excellent“ by 11,098 happy home sellers.
Houzeo.com is Rhode Island’s #1 real estate company. It provides an unbeatable combination of maximum savings, 5-star customer support, and cutting-edge technology.
Houzeo provides affordable listing packages to Rhode Island FSBO home sellers. Also, its offer management and showings tool will help you ace your real estate journey like a pro.
2. Redfin
BEST TECH-ENABLED BROKERAGE
Listing Fee: 1% of Sale Price4.2/5
Redfin does not disclose its pricing on its website. Sellers will have to pay common closing costs.
- It offers 0.5% buyer’s rebate. To avail this, you’ll have to buy and sell with them.
👉 Our Take: Redfin offers 1 rebate option but with a strict clause. While, other real estate companies are willing to offer a higher rebate.
» Redfin Reviews: The reality of the buyer’s rebate.
Here are some advantages of choosing Redfin:
- Advanced Technology: With 3D walkthroughs and 40+ filters to narrow down your search, the Redfin app makes it easy to find the right home from anywhere.
- Paired With Local Agents: Local agents know their market better. This can help you secure a good deal.
- Home Tour: You can see updated listings every 5 minutes on their website. You can also schedule a home tour for the same day.
- Nationwide Coverage: Redfin covers 80+ markets in the US.
Here are some limitations we found with Redfin.
- Strict Rebate Criteria: Clients who sell and buy with Redfin within one year get a rebate of 0.5%.
- No Freedom in Agent Selection: You get an agent assigned automatically without having a choice in the matter.
- Agents Are Less Incentivized: Unlike traditional agents who work for commission, Redfin agents get a fixed salary. This can demotivate them from offering you additional services.
- 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 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% Commission1/5
Century 21 is one of the world’s largest real estate brokerage firms. It operates in every U.S. State and 82 other countries.
The company does not disclose its price on its website. This means you might end up paying the traditional 3% to 6% commission.
👉 Our Take: Century 21 could be a good option for first-time home sellers who do not mind paying high commissions. Along with listing, you will get assistance for contract reviews, offer management, and closing.
Here are some advantages of choosing Century 21:
- Global Coverage: Century 21 operates in every U.S. State and 82 other countries.
- Market Exposure: It has good brand recognition and over 14,000 independent franchises with over 140,000 real estate agents worldwide.
- Best for First-Time Home Sellers: Home sellers get access to contract reviews, handle their listing, offer management, and closing.
Here are some disadvantages of choosing Century 21:
- No Discounts: The agent’s fees for Century 21 are usually high. They do not offer any discounts.
- Delayed Services: Previous customers have complained that the agents were not helpful and that it delayed the process.
Century 21 has a rating of 1 out of 5 stars from 100+ reviews on Consumer Affairs.
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 homes.
1. Long Realty Co
Local Expertise
Based in Rhode Island4.8/5
Long 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, MN2.5/5
Berkshire 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 Washington1.2/5
Zillow is one of the most visited real estate websites. It provides an exceptional home buying and renting experience.
- Zillow Premier Agent: You can connect with an agent representing a particular property and get their commission rates on request. Typically, a buyer agent charges a 2%-3% commission on the sale price.
👉 Our Take: Zillow is a popular choice for home buyers for its vast listings and easy-to-use tools. The platform offers valuable tools like Zestimate® for estimating property values and interactive maps for exploring neighborhoods.
Here are the key features of Zillow:
- Extensive Listings: Zillow offers a wide range of property listings, including homes for sale, rentals, and foreclosures.
- Mortgage Calculator: It allows you to compare mortgage rates from various lenders. You can pre-qualify for a loan through Zillow Home Loans.
- Zestimate Tool: It provides estimated property values to help gauge market prices.
Here are some drawbacks of Zillow:
- Outdated Listings: Some property listings may not be updated in real time, leading to outdated information.
- User-Generated Content: Home details and photos heavily rely on user input, which can sometimes be inaccurate.
- Overwhelming Ads: The site has numerous ads and promotions that can be distracting.
Zillow has a rating of 1.2 out of 5 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. 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 it is one of the best FSBO sites in America.
Frequently Asked Questions
Which is the best real estate company in Rhode Island?
The best company in Rhode Island is Houzeo. It offers sellers maximum savings, advanced technology, 5-star customer support, 100% online experience, and listing exposure.
» Best Real Estate Companies in Rhode Island: Find out the top companies in Rhode Island.
What are the best real estate companies for buyers in Rhode Island?
The best real estate companies for home buyers in Rhode Island are Long Realty Co, Berkshire Hathaway HomeServices, and Zillow. They offer home buyers various services and tools such as virtual showings, mortgage calculators, and more.
How can I sell my property quickly in Rhode Island?
You should set a competitive price, enhance curb appeal, and highlight your home features effectively to sell your house fast in Rhode Island.
