✏️ Editor’s Note: Realtor Associations, agents, and MLS’ have started implementing changes related to the NAR’s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. Learn how NAR’s settlement affects home sellers.
A traditional Realtor charges 5% – 6% commission to sell your home. At that price, you’ll pay $25,000 in commissions alone if you’re selling your home.
Low-commission agents are a budget-friendly option. They charge lesser than the 6% commission, typically, 1% to 2%. If you want to save half of the commission, you should list on MLS by owner.
List on Houzeo and Save Thousands in Commission!
We’ve reviewed and ranked New Jersey’s top 5 best low commission real estate agents in 2024.
Rankings: 5 Best Low Commission Real Estate Agents in New Jersey
| Low Commission Agent/Company | Fee | Max Savings | 100% Online | 5-Star Reviews | Broad Coverage | Mobile App |
|---|---|---|---|---|---|---|
| 1. Houzeo | $329 Flat Fee | ✅ | ✅ | ✅ | ✅ | ✅ |
| 2. Feel @Home Realty | 1.25% Commission | ✅ | ❌ | ✅ | ❌ | ❌ |
| 3. Howzer | 1% Commission | ❌ | ❌ | ✅ | ❌ | ❌ |
| 4. Redfin | 1.5% Commission | ❌ | ❌ | ❌ | ✅ | ✅ |
| 5. UpNest | 2.5% Commission | ❌ | ❌ | ✅ | ✅ | ❌ |
* Houzeo is not a real estate agent. It is an advanced real estate tech platform that collaborates with brokers to sell properties.
Detailed Reviews: New Jersey’s 5 Best Low Commission Real Estate Agents & Companies
1. Houzeo
4.9/5
(5,112 reviews)
Queen's Take
Houzeo.com is America’s #1 ranked Flat Fee service. Houzeo provides an unbeatable combination of max savings, 5-star customer support, and cutting-edge technology.
Houzeo is America’s top-ranked Flat Fee MLS service. With them, you will pay the lowest commission to list your home. They offer maximum savings, 5-star customer support, and cutting-edge technology. Houzeo offers 4 packages.
- Bronze Package – $349: This package offers Houzeo listing for 3 months with maximum photos.
- Silver Package – $199+: This package offers Houzeo listing for 6 months with maximum photos.
- Gold Package – $299+: It is Houzeo’s signature MLS package and includes all the technology Houzeo is known for Houzeo Showings, Houzeo Offers, and DigiTransact.
- Platinum Package – $179+: It includes the assistance of a licensed broker to help you with negotiations, disclosures, and closing.
👑 The Queen’s Take: If you are looking for a way to save money on commission. Houzeo is a good option because they provide Flat Fee MLS, which has the lowest commission possible.
» Houzeo Reviews: Houzeo is 100% online. You can finish listing formalities in less than 60 mins.
Here are some advantages of Houzeo.
- Nationwide Coverage: Houzeo covers 47 states and DC.
- Max Savings: With Houzeo, you save at least 3% on listing agent commission. You can sell your properties without incurring traditional real estate agent fees, saving money.
- Advanced Tech: Houzeo provides cutting-edge technology for a seamless journey. It has an intuitive seller’s dashboard, and a free mobile app.
- Maximum Exposure: Your home is syndicated to 100+ real estate websites like Zillow and Trulia.
» Houzeo Customer Reviews: Houzeo has a 5-star rating on Google Reviews and Trustpilot.
In our research, we discovered that customers have consistently provided positive feedback about their experience with Houzeo.
» Is Houzeo Good? Houzeo addresses all Houzeo complaints from home sellers.
Houzeo is rated 4.9 out of 5 stars by thousands of home sellers on Google & Trustpilot.
» Houzeo Reviews: Over 5,000 home sellers have rated Houzeo as “Excellent.”
2. Feel @Home Realty
/5
( reviews)
Queen's Take
Feel @Home Realty was founded by Charles Hendershot, a licensed real estate broker in New Jersey. They provide full-service real estate services at lower commission rates.
Full Service – 1.25% Commission: With Feel @Home Realty, you can sell your property at 1.25% commission against the traditional commission of 5%-6%.
👉 Our Take: We recommend their full-service plan as it helps you save thousands in commission fees.
Feel@Home Realty is a discount brokerage that offers a full-service package covering various services.
- Extensive Marketing: Your listing is shared across several high-traffic websites and social media for maximum exposure.
- Professional Photography: They have a team of professional photographer/videographers to showcase your home in the best way possible.
- Home Evaluation: They perform a comparative market analysis of the home prices in your neighborhood. This helps them evaluate your home better and make sure you don’t undersell.
Although Feel@Home is an established firm in New Jersey, there are no credible reviews online about them. This is a considerable red flag as reviews provide vital feedback and could help point out discrepancies.
No credible reviews were found online for Feel@Home Realty.
3. Howzer
4.1/5
(40+ reviews)
Queen's Take
Houwzer was launched in Philadelphia, PA in 2014. It is a discount real estate brokerage company that uses salaried agents.
Houwzer was launched in Philadelphia, PA in 2014. It is a discount real estate brokerage company that uses salaried agents.
- Full Service – 1% Commission: This includes 25 professional photos, a virtual tour, listing on MLS, and geo-targeted mailers.
👑 The Queen’s Take: Houwzer’s additional services like mortgage and title prices are not disclosed. You need to contact their representatives. However, sharing your information becomes necessary to assess their services effectively.
» Houwzer Reviews: Read this blog to know more about Houwzer.
Here are some advantages of choosing Houwzer:
- Commission Saving: Houwzer provides you with an affordable way to sell a home by charging a 1% listing commission instead of 3%.
- Dashboard: They have a user-friendly dashboard that allows you to chat with your agent and track listing progress.
- Buyer Rebate: If you avail of their mortgage and title services, you will be eligible for a buyer rebate.
In our research, we found some major drawbacks of Houwzer.
- No Personalized Support: Due to high customer volume their agents might not give personal attention to every customer.
- Limited Coverage: They serve only in 5 states – Florida, Maryland, South Jersey, Pennsylvania, and Washington, DC.
- Lack of Transparency: Houwzer has not disclosed the prices of its other services.
Houwzer has an average rating of 4.1 out of 5 stars from 40+ reviews on Yelp.
» Houwzer Reviews: Read this review before making your decision.
4. Redfin
3.4/5
(100+ reviews)
Queen's Take
Redfin is primarily known for its advanced tech platform and mobile app. It covers 80+ markets in the US.
Redfin is America’s #1 discount real estate brokerage. They offer a 1% listing fee when you buy and sell. If you only sell they charge a 1.5% commission.
- Redfin Full-Service Agent: This includes premium placement on Redfin, professional photos, and a 3D walkthrough.
- Redfin Premier Agent: This package is exclusively for luxury properties and includes coordinated e-mail campaigns, luxe mailers, and brochures.
👑 The Queen’s Take: Redfin gives your property exposure and provides other services. But you can only enjoy these benefits if you use Redfin to buy and sell.
» Redfin Reviews: The reality of 1% fees, pros, cons, & alternatives.
Here are some advantages of choosing Redfin:
- Nationwide Coverage: Redfin covers 80+ markets in the US.
- Advanced Technology: They have a user-friendly website and provide a mobile app.
- Full-Service Agents at Low Commission: Redfin’s full-service package is priced at 1.5%. It saves you thousands compared to the traditional 3% listing commission.
- Detailed Marketing Plan: Redfin provides the necessary paperwork and a marketing plan.
- Buyer Rebate: If you sell with Redfin for 1.5% commission, you get 0.5% rebate for buying another home within 365 days.
In our research, we found some disadvantages of Redfin.
- No Dedicated Service: Customers have often complained that Redfin agents are not able to give personalized service.
- Mixed Customer Reviews: Customers have complained that agents are often unreachable and unprofessional.
- Slow Listing Process: According to Redfin’s listing agreement, a Redfin property takes 18 days to list on MLS.
- Limited Agent Selection: Based on customer reviews, Redfin has a limited selection of agents. This results in giving you fewer options to choose an agent.
Redfin has an average rating of 3.4 out of 5 stars from 100+ reviews on Yelp.
» Reviews of Redfin: Read our blog to know more about them.
5. UpNest
4.7/5
(56 reviews)
Queen's Take
UpNest is a nationwide service that connects home sellers and buyers with real estate brokers. The firm connects you with a full-service broker in your area.
UpNest is an innovative real estate marketplace that connects home sellers and buyers with agents in their area.
- Pricing: There’s no direct cost to using UpNest, but the savings are marginal. UpNest agents decide their commission fees. The discount rate varies.
👉 Our Take: We do not recommend Upnest for home sellers or buyers. UpNest’s network is reliable and quick, but savings aren’t guaranteed. You might end up paying more than you had expected.
Here are some advantages of using Upnest.
- No Obligation Service: Within 24 hours timeline after signing up, UpNest will send you multiple agents you can choose from. If nothing fits, you can simply walk away.
- High-quality Agent Network: UpNest partners with top agents from leading national brokerage firms across the U.S. All agent matches remain unbiased, based on your criteria and preferences.
- User-friendly Dashboard: UpNest’s customer dashboard is intuitive and makes it easy to compare agent matches. It also features options to contact the matched agents or your UpNest Advisor with a single click.
What is UpNest? Read the comprehensive review to know more!
In our research, we found some red flags associated with UpNest.
- Marginal Savings: The commission rates aren’t pre-defined. The negotiation ultimately relies on you. Past sellers have claimed that the lowest listing fee is 2% which is quite high.
- Inconsistent Customer Service: Customers have revealed that some UpNest representatives are extremely helpful and knowledgeable. However, rest of them struggle to answer simple questions.
UpNest has a rating of 4.7 out of 5 from 56 customer reviews on BBB.
»UpNest Reviews: How Much Will it Save You in 2023?
What are Low Commission Real Estate Agents/Companies?
Low commission agents or companies offer services similar to traditional agents at discounted rates. These discounted rates usually range from 1% – 2% as compared to the traditional charges of 2.5% – 3%. You will also have to pay the traditional commission fees of 2.5% – 3% to your buyer’s agent.
Your average savings depend on the type of low commission real estate agent or company you select. Potential savings can range from 1% – 1.5%, helping you save thousands!
» Discount Realtors Near Me in New Jersey: Discover discount realtors near you and start saving today!
Types of Low Commission Real Estate Agents and Companies?
Based on the level of services they provide, there are various
- Flat Fee Real Estate Brokers: Flat fee Realtors charge a flat fee instead of a fixed percentage to list your home. They provide services such as listing across high-traffic websites, professional photography, flyers, and scheduling home tours.
- Virtual Full-Service Agents: They offer 100% online services. These include property search, preparing contracts, negotiating offers, home tours, etc. at no additional cost.
- Discount Real Estate Brokers: They offer services at commission rates lower than traditional agents. They charge 1% – 2% commission or a pre-defined flat fee.
» Discount Real Estate Agents: Don’t settle for high fees. Choose discount agents for smart savings.
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🤔 What is the Average Realtor’s Commission?
The average commission for realtors is roughly 5% – 6% of the final sales price. The ideal commission for the seller’s agent typically ranges between 2.5% – 3%. Similarly, the buyer’s agent will also charge 2.5% – 3%.
How to Choose a Low Commission Real Estate Agent/Company?
It is necessary to choose the right low-commission real estate agents for a hassle-free house-selling journey. Following are some tips for you to make a wise and quick decision to choose the best low-commission realtor:
- Research and Compare: You should look for real estate agents or companies that offer low commission rates. Compare their rates and services to find the best value for your money.
- Negotiate: Don’t be afraid to negotiate with the agent or company to reduce the commission. Some may be willing to lower their rates depending on the market conditions or the specifics of your transaction.
- Consider Package Deals: Some real estate companies offer discounted commission rates if you use their services for both buying and selling a property. Explore these package deals to maximize your savings.
- Advanced Technology: Choose real estate companies in New Jersey offering innovative technology, online paperwork and mobile apps.
- Online Reviews: Check customer reviews online to get insight into the type of services you can expect to receive.
Key Takeaways
- Low commission real estate agents or companies offer cost-effective alternatives to traditional real estate agents.
- Low commission realtors typically charge 0.5% to 2.5% commission instead of 3% commission.
- Despite lowest realtor fees, they provide you with professional services, including property valuation, marketing, and negotiation.
- You can potentially maximize your savings by reducing their commission expenses.
- While low commission agents can be a cost-effective option, you should also consider other aspects such as the local market conditions and the property’s unique selling points.
How Much Can You Save With a Low Commission Agent/Company?
Traditional real estate agents may charge high commission fees while selling your house in New Jersey. This reduces your profits. However, low commission agents provide the same quality services while helping you save more.
For example, if you are selling a house for $400,000, your savings with a low commission real estate agent/company will be as follows:
| Traditional Agent (2.5% commission) | Discount (1% commission) | Discount (1.5% commission) | Discount (2% commission) | |
|---|---|---|---|---|
| Seller's Agent | $10,000 | $4,000 | $6,000 | $8,000 |
| Buyer's Agent | $10,000 | $10,000 | $10,000 | $10,000 |
| Total | $20,000 | $14,000 | $16,000 | $18,000 |
| Savings | ❌ $0 | ✅ $6,000 | ✅ $4,000 | ✅ $2,000 |
Pros and Cons of Low Commission Real Estate Agents & Companies
To decide whether real estate agents with low commission are suitable for selling your home, consider the following pros and cons:
Pros of Using a Low Commission Realtor
- Savings: Low commission Realtors can help you save on commission fees while streamlining the entire sales process.
- Technology: Platforms like Houzeo and Redfin offer technologically advanced features like online showings, marketing services, virtual home tours, etc. at no added costs.
- Do It Yourself: You have control over your listing, showings, and open houses. You can communicate and negotiate directly with the buyer’s agent.
Cons of using a Low Commission Realtor
- Selling for Less Money: You may sell your house for less than what you could have with a full-service Realtor.
- Poor Selling Experience: A discount Realtor will handle multiple clients to compensate for the reduced commission fees. This results in a lack of personalised services and post-sale assistance.
- Dual Agency: Realtors who represent both buyers and sellers are known as ‘dual agents’. The incentive to double-end a deal increases when the agents offer low commission services.
Alternatives to Low Commission Real Estate Agents & Companies
Here are some other options other for you to explore before choosing lost cost realtors:
- For Sale By Owner (FSBO): It basically means you sell your house by yourself, completely eliminating listing agent fees. Sellers with the necessary time and resources can list their house FSBO.
- We Buy Houses For Cash Companies: Companies that buy houses for cash in New Jersey offer upfront payments within 24-48 hours. However, they typically pay 10% – 30% less than the expected home sale price.
- iBuyers: iBuyers like Opendoor and Offerpad provide full cash offers and technologically advanced platforms. This is a good option if you want to sell your house fast for cash in New Jersey.
- Traditional Real Estate Agents: They offer end-to-end support from listing to closing. These agents offer a wide range of services at 3% or higher commission rates.
Final Word
Finding the right balance between price and quality is essential while exploring the real estate market. If you are looking for cost-effective services then working with low-commission real estate agents is the best option.
They offer full-service brokerage at a slightly lower rate (around 2-2.5%). In the end, it depends on your specifics and the plans you select.
Houzeo provides you with flexibility and unique features that no other low-fee Realtor or company offers. It is entirely online and digitised, which streamlines the home selling process. Additionally, Houzeo is widely regarded as the best flat fee MLS platform and FSBO provider in the United States.
» Want to know more? Check out these stellar Houzeo reviews to learn why it is one of the best For Sale By Owner websites.
Frequently Asked Questions (FAQs)
1. What changes have the low commission real estate companies brought in the New Jersey real estate market?
Following are the changes brought by low commission real estate companies brought in the New Jersey real estate market:
1. More control over home sale
2. Affordable packages
3. Expedited home sale process
2. How do I find low commission real estate agents near me?
To find low commission real estate agents near you, search online for real estate agents in your area and compare their commission rates to find low-cost options.
3. Which low commission real estate agent is the best?
There are multiple factors that need to be considered when you want to find the best low commission real estate brokerage. Real estate brokerages like Houzeo, Redfin, and ListingSpark top our charts based on different features. However, the list may vary based on your requirements.
5. How to get low commission rates?
You can either negotiate with a realtor or opt for a real estate agent/ brokerages with lowest fees.
6. How low commission real estate agents make money?
Low commission real estate agents make money by charging a reduced commission percentage on the final sale price of a property. This means they earn less per transaction but aim to make up for it by handling a higher volume of sales or offering additional services for an additional fee.
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