BREAKING NEWS: Post the NAR Settlement, Rhode Island discount real estate brokers can save you almost the entire 6% commission. That translates to saving up to $30,774 in commission on an average $512,900 Rhode Island home.
Whether you’re selling a house in Providence or Cranston, the best discount real estate brokers in Rhode Island will help you save on the 3% listing agent commission. And an additional up to 2.5% to 3% on the buyer agent commission! That’s a cool $31K on an average Rhode Island home.
Rankings: Top 5 Rhode Island Discount Real Estate Brokers
We’ve listed the top 5 discount real estate brokers in the Plantation State based on how much you can save on an average $512,900 home.
| Rank | Discount Real Estate Broker / Company | Listing Fee | Additional Charges | Max Savings | 100% Online | Mobile App |
|---|---|---|---|---|---|---|
| 1. | Houzeo.com | $399 Flat Fee | ❌ | ✅ | ✅ | ✅ |
| 2. | Entry Only | $399 | ❌ | ❌ | ❌ | ❌ |
| 2. | UpNest | 4.3% Commission or As Decided by the Agent | ❌ | ❌ | ❌ | ❌ |
| 3. | Redfin | 1% | ❌ | ❌ | ❌ | ✅ |
| 5. | Ideal Agent | 2% Commission | ❌ | ❌ | ❌ | ❌ |
Types of Real Estate Discount Brokers in Rhode Island
There are two types of Rhode Island discount real estate brokers:
- Flat Rate Discount Brokers: Also called Flat Fee MLS companies, these discount realty services let you list your home for a fixed upfront fee. A Flat Fee MLS Rhode Island listing service costs between $399 to $4,000.
- Fixed Percentage Discount Brokers: These discount Realtors charge a fixed percentage of the home’s sale price. Typically, it is anything lower than the traditional 3% fee: 1%, 1.5%, 2% or 2.5%, etc.
Reviews: 2 Best Flat Rate Discount Real Estate Companies in Rhode Island
1. Houzeo.com
#1 Discount Real Estate Service
Listing Fee: $399+$350 at closing4.9/5
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.
» Houzeo Reviews: Houzeo is 100% online. You can finish listing formalities within 60 minutes.
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 $12,511.
- 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 10,000+ 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 America’s #1 ranked real estate brokerage company. It provides an unbeatable combination of max savings, 5-star customer support, and cutting-edge technology.
Houzeo’s flat fee feature helps you save thousands on agent commissions. You also get dedicated customer support that makes the home-selling process much easier and effortless.
2. Entry Only
Flat-Fee MLS Listing Service
Listing Fee: $3994.8/5
Entry Only is a discount real estate brokerage with national coverage. They mainly cater to home sellers but have some services for buyers as well.
For Home Sellers:
Entry Only offers 2 flat fees MLS packages and a full representation package:
- Basic ($399): Includes a 6-month MLS listing, 20 photos, transaction coordination, flyers, buyer lead forwarding, and a yard sign.
- Enhanced ($699): All features of the Basic package + contract review.
- Premium ($999): This is a full-service package. It includes all services of the Enhanced package + negotiations before/after inspections and closing assistance.
For Home Buyers:
- Buyer’s Rebate: The buyers who choose Entry Only as their representative get up to 50% of the buyer agent’s commission as a rebate.
👉 Our Take: EntryOnly is ideal for sellers who are comfortable managing their sale process and looking to save money on listing commissions. If you’re new to selling, you might find the process challenging.
Entry Only offers the following advantages:
- Buyer Lead Forwarding: All email inquiries will be forwarded to the sellers. In addition to this, Entry Only has a 24/7 receptionist service to redirect buyers and agents to sellers.
- Closing Assistance: Entry Only strives to make the closing process smoother by coordinating with buyer agents, lenders, appraisers, home inspectors, attorneys, and title companies.
- Buyer Services: Home buyers get assistance with property search, tours, offers, negotiation, contracts, and closing.
Entry Only offers the following disadvantages:
- Expensive Upgrades: Entry Only offers a significant number of listing upgrades. However, the ones that may boost the sale of your house, like expedited MLS entry, and secondary MLS listing, are steeply-priced.
Entry Only has a rating of 4.8 out of 5 on Trustpilot.
Entry Only is a part of the HomeZu network. With more than 20 years of experience, Jason Saphire, the managing broker, has cultivated an excellent reputation in the industry.
However, the company’s add-on services are not as competitively priced as their packages. Past sellers appreciate their low turnaround time and prompt service.
Reviews: 3 Best Fixed Percent Discount Brokers in Rhode Island
3. UpNest
Negotiable FEES
Listing Fee: Varies as per the agent4.7/5
UpNest offers agent-matching services. Here’s how it works:
- No Upfront Cost: UpNest connects you with top local real estate agents at no upfront cost. Agents will discuss commission rates, fees, and potential discounts directly with you.
👉 Our Take: With UpNest you get multiple real estate agent options to choose from. However, agents’ commission rates and qualifications can vary significantly, and the quality of service may depend on the broker you select.
Here’s what UpNest offers:
- Multiple Agent Proposals: Get 3–5 commission quotes from top local agents. Compare options easily without contacting agents yourself.
- Quick Turnaround: Receive agent matches within 24 hours of signing up.
- Transparent Pricing: View all commission rates and potential savings upfront. There are no hidden fees or pressure to commit.
- Nationwide Coverage: It offers service throughout the US. It connects you with the local agent who has current market insights.
Here are some of the downsides of working with UpNest:
- No Guaranteed Savings: UpNest does not offer guaranteed savings. Instead, each agent sets their own listing fee.
- No Control Over Agent Selection: UpNest shows you commission quotes from selected agents. As a result, you might miss out on other qualified agents who are part of their network.
UpNest has a rating of 4.7 out of 5 stars on Google.
» UpNest Reviews: Is UpNest actually saving you money in 2024? Read to find out.
UpNest is a licensed agent-matching brokerage. It is headquartered in California. Move, Inc.,(Realtor.com the parent company) acquired Upnest in June 2022.
UpNest pairs you with local agents with a proven sales record. However, you may end up fixing a high commission for the agent.
4. Redfin
#1 Nationwide Brokerage
1% Listing Fee3.7/5
Redfin is America’s #1 discount real estate brokerage. It offers services in 100+ real estate markets across the country in 49 states.
- Redfin Full-Service Agent – 1.5% Commission: This is a full-service package. This includes pricing assistance, listing paperwork, negotiation support, etc.
- Redfin Concierge – 2.5% Commission: The “Concierge” plan includes everything from the Full-Service package. Additional services include professional cleaning and home staging.
- Redfin Premier Agent – 1.5% Commission: This package is exclusively for luxury properties and includes everything that comes with the Full-Service package.
Mobile App: Yes
👉Our Take: When you opt for Redfin, you can save a considerable amount on the commission fees. Although Redfin tries to provide its service 3x faster than the traditional method, it limits its ability to provide personalized service.
Here are some advantages of choosing Redfin:
- Advanced Technology: Redfin is primarily known for its advanced tech platform and mobile app.
- Full-Service Agents at Low Commission – 1.5%: Redfin offers a full-service package for just 1.5%. It saves you thousands of dollars compared to the traditional 3% listing commission.
- Detailed Paperwork: Redfin handles the necessary paperwork and an elaborate listing agreement with a marketing plan.
- Nationwide Coverage: Redfin covers 80+ markets in the US.
- Easy Deal Closings: Redfin agents help with negotiations and guide you throughout your home-selling process. It will make your closing easy and faster.
» Redfin Pros and Cons: Read about the advantages and drawbacks of Redfin services.
The disadvantages of using Redfin are:
- Pricing Inaccuracy: Many sellers have complained about certain factors like lot area, a gated compound, or a city location not getting considered during valuation.
- Long Time for Listing: As per Redfin’s agreement, it takes almost 15-18 days to verify the seller’s property and list their house.
- Lack of Customer Service: There has been negative feedback about the ack of personal attention by Redfin salaried 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: Customers have often complained that Redfin agents are not able to give personalized service, as they serve a high volume of clients.
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: The reality of 1% fees, pros, cons, and alternatives!
Redfin, headquartered in Seattle, was founded in 2002 by Mr. David Eraker. It covers 80+ markets in the US. They have an operating business license in New York as Redfin Real Estate.
It provides an elaborate listing agreement with a marketing plan for your home. However, this agreement specifies an 18-day timeframe for listing your property. Additionally, some customers have expressed concerns about the agent’s professionalism.
5. Ideal Agent
Agent Matching Service
Listing Fee: 2% of Sale Price5/5
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.
Discount Real Estate Brokers Rhode Island: How Much Will You Save?💲
Rhode Island discount brokers can help you save almost the entire 6% commission, depending on your home’s worth.
If you choose a 6% full-service Realtor, you’d pay $30,774 to sell an average $512,900 house in the Plantation State. But, if you choose a flat-rate broker company, you save thousands. With Houzeo’s Gold plan, you only pay $2,994 and save $27,781!
NAR Settlement Saves Sellers Thousands in Commission
The NAR Settlement went into effect on August 17, 2024. Buyer agent commissions can no longer be offered on the MLS. This means sellers will save thousands! But it also means there’s a lot more compliance and litigation risks.
Here’s what this means for you:
- Sellers Can Save Thousands in Commissions: You will likely be paying much less than the traditional 3% buyer agent commission. That’s because buyer agent commissions will be negotiated twice: Once when buyers engage Buyer Agents and again when sellers review offer contracts.
- Seller Priority #1 Will Be Paperwork (to Mitigate Compliance & Litigation Risks): Buyer agents mitigate all types of risks. From seller disclosures, offer contracts, contingencies, inspections, repair requests, appraisal, and closing – Buyer agents keep the paperwork tight. Their state licensing authorities, Realtor associations, and MLS’ audit paperwork compliance. Without buyer agents, sellers will have to learn and adapt. Or risk expensive litigation.
- Negotiations Can Now Feel Like Haggling: Buyer agent commissions will now be part of offer contracts and buyer agency agreements. Buyers may ask sellers to include commissions in the form of seller concessions. That means home buyers and sellers alike will be negotiating commissions. Sellers will need expert licensed brokers to help them with these negotiations.
- Buyer Agent Commissions Can Be Offered Offline: Buyer agent commissions can still be offered outside of the MLS. They just cannot be advertised on the MLS.
Discount Realtors in Rhode Island: Pros and Cons
Even though cheap Realtors in Rhode Island will save you thousands in commissions, you should consider the advantages and disadvantages of hiring one:
Pros ✅
- Sell Home for a Discounted Fee: You’ll pay less fees for a discount real estate listing in Rhode Island than a 6% Realtor. Even if you only want to list your Rhode Island home on MLS, you pay a much lower fee than the typical 3% listing agent fee.
- Receive Full-Service Realtor Services: Discount real estate agents in Rhode Island will provide the basic services that any traditional agent would. This includes assistance with pricing your home, marketing, paperwork, and negotiations.
Cons ❌
- You May Become a Victim of Hidden Fees: Some discount brokerages in Rhode Island may charge hidden fees or sell essential services a la carte. Beware of shady discounted agents who lure you in with significantly low fees. Do your research and look at the best discount realtors in RI.
- Unreliable Service Quality: Discounted real estate brokers in Rhode Island handle multiple clients at once to make up for the reduced commission rate. They may not be able to provide personalized assistance all the time.
- High Cancellation Fees: An RI discount real estate broker can charge a minimum withdrawal fee within a specified period. Remember to carefully review the terms and conditions of the contract before signing.
Alternatives to Discount Real Estate Agents in Rhode Island
Here are some options if you do not want to opt for a discount Realtor in Rhode Island:
- Sell Your Home For Sale By Owner: In a FSBO sale, you’ll have to opt for “DIY” marketing strategies like using FSBO signs, word of mouth, open houses, etc. But your listing won’t be on Zillow, Trulia, Realtor.com, and Homes.com! Meanwhile, FSBO websites in Rhode Island will help you list on the MLS and increase exposure.
- Sell Your House to Cash Buyers: Almost all cash buyers in Rhode Island scour the MLS for Rhode Island homes for sale. This includes iBuyers, investors, and home flippers.
- Sell With a Full-Service Realtor: If you are not interested in saving your equity, you can hire a full-service, in-person Realtor in Rhode Island. You’ll end up paying a full 5% to 6% commission. That’s $30,774 on a $512,900 home gone!
Frequently Asked Questions
Who are the best discount real estate brokers in Rhode Island?
Houzeo.com and Entry Only are the top discount real estate brokers in Rhode Island. Both provide an incredible combination of savings and technology. However, Entry Only has been rated 4.8 while thousands of sellers have rated Houzeo as 4.9 out of 5.
» Houzeo Reviews: Find out why 15,000+ home sellers love Houzeo.
How much is the real estate agent fees in Rhode Island?
On average, traditional agents in Rhode Island charge 5% to 6% of the sale price as commission. On the other hand, discount real estate brokerage firms in Rhode Island charge 1% to 3%.
How do I find discount broker near me in Rhode Island?
You could choose a discount broker, or list your home using Houzeo. With Houzeo, your home will be listed on the MLS within 24 to 48 hours.
Can you negotiate Realtor fees in Rhode Island?
Yes, you can! Infact, post the NAR Settlement, you can now also negotiate buyer’s agent commissions.
