BREAKING NEWS: Post the NAR Settlement, Michigan discount real estate brokers can save you almost the entire 6% commission. That translates to saving up to $16,278 in commission on an average $271,300 Michigan home.
Whether you’re selling a house in Detroit or Grand Rapids, the best discount real estate brokers in Michigan 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 $16K on an average Michigan home.
Rankings: Top 5 Michigan Discount Real Estate Brokers
We’ve listed the top 5 discount real estate brokers in the Wolverine State based on how much you can save on an average $271,300 home.
| Rank | Discount Real Estate Broker / Company | Listing Fee | Max Savings | 100% Online | Mobile App |
|---|---|---|---|---|---|
| 1. | Houzeo | $399 Flat Fee | ✅ | ✅ | ✅ |
| 2. | Modern Way Realty | $395 Flat Fee | ❌ | ✅ | ❌ |
| 3. | HomeLight | 2.5% Commission | ❌ | ❌ | ❌ |
| 4. | UpNest | 4.3% Commission or As decided by the agent | ❌ | ❌ | ❌ |
| 5. | Ideal Agent | 2% Commission | ❌ | ❌ | ❌ |
Types of Real Estate Discount Brokers in Michigan
There are two types of Michigan 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 Michigan 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 Michigan
1. Houzeo.com: Max Savings, No Hidden Fees
#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 an excellent customer rating of 4.9 out of 5 stars. It has extensive coverage across 47 states + DC, a feat achieved by only a handful of other services.
» 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, home sellers who used Houzeo saved $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 10,000+ happy customers, Houzeo is the most trusted discount real estate broker.
Houzeo is Michigan’s #1 ranked real estate brokerage company. It provides an unbeatable combination of max savings, 5-star customer support, and cutting-edge technology.
2. Modern Way Realty
COST-EFFECTIVE
Listing Fee: $295 Flat Fee & Onwards5/5
Modern Way Realty is a flat fee company based in Michigan. It offers four packages:
- Basic – Do it Yourself Package ($295): This package includes a 6-month listing term and 10 photos. Your property will be listed on Michigan MLS and other websites like Zillow, Realtor, and more. You will also receive all the real estate forms and disclosures in this package.
- Standard – Do it Yourself Package ($395): It has the same offerings as the Basic DIY package with an option to upload up to 40 photos. You also get access to their closing cost calculator and unlimited price changes.
- Premium – Full-Service Package ($895): This package includes everything in the Standard DIY package, as well as dedicated agent assistance, document review, closing assistance, negotiation assistance, and more.
- Platinum – Full-Service Package ($995): This package includes all the features of the Premium Full-Service package. However, you get a comparative market analysis and the option to make unlimited changes to your listing, barring photos.
👉 Our Take: Modern Way Realty is a good choice for sellers. It offers various listing packages while ensuring a comprehensive, full-service experience for sellers. However, its high-end packages provide almost the same services.
Modern Way Realty offers the following advantages:
- 100% Online Process: The entire home listing and selling process is paperless and conducted online. Moreover, agent interactions are virtual, removing the need for in-person meetings, saving time and reducing hassle.
- Maximum Market Exposure: Your property is listed on the local MLS and other popular sites like Realtor.com and Zillow. This way, your listing gets a lot of exposure to attract potential home buyers.
- Agent Representation: The full-service package includes dedicated agent support. They will assist you at every step of your home-selling process.
Modern Way Realty has certain disadvantages:
- Limited Coverage: Modern Way Realty covers only the state of Michigan. Thus, the customer base and potential buyer pool are limited.
- No Mobile App: There is no dedicated mobile application for home sellers. This restricts quick and convenient access to information and services.
Modern Way Realty has a rating of 5 out of 5 stars on Google.
» Modern Way Realty Reviews: Find out everything you need to know.
Modern Way Realty is a licensed brokerage established by Ms. Melissa Socha. It offers its services only in Michigan. They have good customer feedback for their prompt responses and constant client support.
However, their coverage is limited resulting in a small pool of potential buyers.
Reviews: 3 Best Fixed Percent Discount Brokers in Michigan
3. HomeLight
GOOD AGENT COVERAGE
Listing Fee: 2.5% of sale price4.6/5
HomeLight has a network of thousands of successful real estate agents and brokers. It is an agent-matching tech-platform.
- Standard Commission: HomeLight is a free agent-matching platform. The agent you get through this platform will charge the standard commission of 2% to 3% for listing.
👉 Our Take: HomeLight provides decent agent-matching services. However, the standard listing commission means zero savings for you.
» HomeLight Reviews: The Truth You Need To Know
HomeLight offers a number of advantages to both sellers and buyers:
For Home Sellers:
- Free Agent Matching: The agent matching service from HomeLight is free for home sellers. HomeLight furnishes details of the best real estate agents in your neighborhood. Depending on the agent, the traditional 5% to 6% commission is charged.
- Estimators and Calculators: HomeLight offers Home Value Estimator, Best Time To Sell Calculator, Agent Commissions Calculator, and Net Proceeds Calculator to home sellers.
- HomeLight Simple Sale: HomeLight has a network of pre-approved buyers. If you want to sell your house fast, this option allows you to sell it to a cash buyer within 7 days.
For Home Buyers:
- Home Search Feature: Buyers can search for homes by city, zip code, or address.
- Estimators: HomeLight offers estimators like Home Affordability Calculator, Down Payment Calculator, and Closing Costs Calculator for home buyers.
In our research, we have found some red flags associated with HomeLight.
- Inconsistent Agent Quality: The agents they assign may not work at your convenience. Even the listing speed will be based on the agent selected.
- Off-market Restriction: Registering on HomeLight will get you offers from agents instantly. Although the process is fast, only homes that are off-market are allowed.
HomeLight has an average rating of 4.6 out of 5 from 237 reviews on Sitejabber.
HomeLight is a reputable discount real estate broker company established by Drew Uherwebsite in 2012. It is a common platform where sellers meet the buyers.
They have a huge agent database that handles multiple clients at a time. This could lead to miscommunication and a lack of personalized support.
4. 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.
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 Michigan: How Much Will You Save?💲
Michigan 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 $16,278 to sell an average $271,300 house in the Wolverine State. But, if you choose a flat-rate broker company, you save thousands. With Houzeo’s Gold plan, you only pay $1,786 and save $14,493!
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 Michigan: Pros and Cons
Even though cheap Realtors in Michigan 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 Michigan than a 6% Realtor. Even if you only want to list your Michigan 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 Michigan 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 Michigan 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 MI.
- Unreliable Service Quality: Discounted real estate brokers in Michigan 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 MI 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 Michigan
Here are some options if you do not want to opt for a discount Realtor in Michigan:
- 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 Michigan will help you list on the MLS and increase exposure.
- Sell Your House to Cash Buyers: Almost all cash buyers in Michigan scour the MLS for Michigan 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 Michigan. You’ll end up paying a full 5% to 6% commission. That’s $16,278 on a $271,300 home gone!
Frequently Asked Questions
Who are the best discount real estate brokers in Michigan?
Houzeo.com and Hometiva are the top discount real estate brokers in Michigan. Both provide an incredible combination of savings and technology. However, Modern Way Realty has only 110 reviews 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 Michigan?
On average, traditional agents in Michigan charge 5% to 6% of the sale price as commission. On the other hand, discount real estate brokerage firms in Michigan charge 1% to 3%.
How do I find a discount broker near me in Michigan?
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 Michigan?
Yes, you can! Infact, post the NAR Settlement, you can now also negotiate buyer’s agent commissions.
