BREAKING NEWS: Post the NAR Settlement, Lawrence discount real estate brokers can save you almost the entire 6% commission. That translates to saving up to $34,200 in commission on an average $570,000 Lawrence home.
Whether you’re selling a house in Tower Hill or Arlington, the best discount real estate brokers in Lawrence 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 $34K on an average Lawrence home.
Rankings: Top 5 Lawrence Discount Real Estate Brokers
We’ve listed the top 5 discount real estate brokers in the Immigrant City based on how much you can save on an average $570,000 home.
| Rank | Discount Real Estate Broker / Company | Listing Fee | Additional Charges | Max Savings | 100% Online | Mobile App |
|---|---|---|---|---|---|---|
| 1. | Houzeo.com | $349 Flat Fee | ❌ | ✅ | ✅ | ✅ |
| 2. | FSBO.com | $399 Flat Fee | ✅ | ❌ | ❌ | ❌ |
| 3. | Prevu | 1.5% Commission | ❌ | ❌ | ❌ | ❌ |
| 4. | Redfin | 1.5% Commission | ❌ | ❌ | ❌ | ✅ |
| 5. | HomeLight | 2.5% Commission | ❌ | ❌ | ❌ | ❌ |
Types of Real Estate Discount Brokers in Lawrence
There are two types of Lawrence 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 Massachusetts 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 Lawrence
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 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 Lawrence’s #1 ranked discount real estate company because sellers only have to pay a flat rate. It provides an unbeatable combination of maximum savings and 5-star customer support.
2. FSBO.com
OLDEST FSBO WEBSITE
Listing Fee: $99.95 - $399.952.9/5
FSBO.com offers two packages to home sellers:
For Home Sellers:
- FSBO Package ($99.95): This includes an FSBO.com listing for six months with unlimited photos and one video. You can also edit and cancel your listing 24/7.
- MLS Package ($399.95): This package includes everything from the FSBO package plus six months’ access to the MLS.
👉 Our Take: FSBO.com suits experienced, hands-on sellers looking to save on commissions. However, less experienced or those preferring a hands-off approach may find an agent worth the cost.
Here’s what makes FSBO.com stand out:
- Market Exposure: Your listing will be advertised on sites like Realtor.com, Zillow, Trulia, and others, in addition to the MLS.
- Full Control: The sellers get complete control over the home sale process, from pricing to negotiation.
- Wide Coverage: FSBO.com is a presence in all 50 states, allowing users from all over the country to employ their services.
Here are a few red flags of FSBO.com:
- Time and Effort: Since there is no agent, the sellers will have to handle the marketing, negotiations, and paperwork alone, which can be tedious.
- Outsourced MLS Services: FSBO.com is not a licensed real estate broker; hence, they outsource the services to independent agents and licensed brokerages. This may result in a difference in the quality of service.
- Limited Expertise: Without the agent, inexperienced sellers may have trouble with pricing, marketing, and negotiating the best deal.
FSBO.com has been rated 2.9 out of 5.0 on Trustpilot.
» FSBO.com Reviews: Find out why the oldest FSBO site isn’t the best in 2023’s slow market.
FSBO.com is available in all states with coverage in 50+ markets. They allow sellers to list their property for sale while saving on the listing agent commission.
But you should know that additional services can add up to a total of $335 in costs over and above your flat fee package!
Reviews: 3 Best Fixed Percent Discount Brokers in Lawrence
3. Prevu
Lower Commission
Listing Fee: 1.5% of Sale Price5/5
Prevu is a reliable discount real estate agent service. It offers full service to sellers, like a traditional broker.
- 1.5% Commission: Prevu charges a fixed 1.5% commission on the total home sale value. It includes features like home valuation, professional photographs, closing assistance, etc.
👉 Our Take: Prevu offers services from listing your home to its closing. It charges you a non-negotiable commission of 1.5% of the home sale value. However, it could cost you more in commission for a high-value house.
Based on our research, the benefits of Prevu are:
- Advanced Marketing: It includes home valuation, 3D virtual tours, open houses, professional photographs, listing on MLS, and social ad campaigns.
- Market Exposure: Your listing will be displayed on sites like Realtor.com, Zillow, Trulia, etc.
- Closing Costs Calculator: You can get an estimate of their closing costs.
Here are some limitations we found with Prevu:
- Limited Coverage: Prevu serves 13 states and Washington D.C. focusing on metro areas and suburbs.
- Not Ideal for High-Value Homes: Prevu’s model might not be ideal for luxury homes. For example, selling a house worth $500,000 would still mean paying $7,500 in commission.
- Variable Listing Fee: The listing fee with Prevu can vary based on your location, which may result in higher costs depending on the market.
- Mobile App: The company does not provide any mobile application service to its users.
Prevu has a stellar rating of 5 out of 5 on Google.
» Prevu Reviews: Is it a good idea to choose them? Read the comprehensive review to learn more.
Prevu is a licensed full-service discount real estate brokerage based in New York. It serves in 12 states across the US.
Prevu has over 400 positive reviews on Google. However, Prevu has a small team of agents who deal with multiple clients. This may limit your ability to select an agent of your choice.
4. Redfin
Best-In-Class Agents
Listing Fee: 1% of Sale Price3.4/5
Redfin is the largest discount real estate company. Its premier agents, with years of experience, help you buy and sell high-end homes.
- Listing Price: Redfin charges a 1% listing fee if you want to sell a house and buy your next one with them. It charges a 1.5% listing fee if you decide to just sell your house with Redfin.
👉Our Take: Redfin is a technology-based platform. You can expect transparency and an accurately managed database. However, you may not get complete attention due to their high customer volume.
» Is Redfin Legit? Check the legitimacy of Redfin’s discount broker services
Redfin offers:
- Competitive Pricing: You pay a listing fee of 1% if you decide to sell and buy with Redfin.
- Updated Technology: Redfin provides a mobile app, 3D walkthrough, relevant filters, etc. This makes the real estate transaction seamless.
- National Presence: Redfin covers 80+ markets in the US.
» 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 lack of personal attention by Redfin salaried agents.
Redfin has an average rating of 3.4 out of 5 stars on Yelp and average 3.7 out of 5 stars on Google.
» Redfin Reviews: The reality of 1% fees, pros, cons, and alternatives!
Redfin, founded in Seattle in 2002 by Mr. David Eraker, covers 80+ markets in the US. It provides an elaborate listing agreement with a marketing plan for your home.
However, this agreement specifies a long 18-day timeframe for listing your property on the MLS. Additionally, some customers have expressed concerns about the non-availability and unprofessionalism of their agents.
5. 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 an agent-matching company established by Drew Uher in 2012. It is a single platform where home sellers meet their prospective home buyers.
The company has a huge broker database. However, every agent handles multiple clients at a time. This leads to miscommunication and a lack of personalized support.
Discount Real Estate Brokers Lawrence: How Much Will You Save?💲
Lawrence 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 $34,200 to sell an average $570,000 house in the Immigrant City. But, if you choose a flat-rate broker company, you save thousands. With Houzeo’s Gold plan, you only pay $3,279 and save $30,921!
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 Lawrence: Pros and Cons
Even though cheap Realtors in Lawrence 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 Lawrence than a 6% Realtor. Even if you only want to list your Massachusetts 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 Lawrence 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 Lawrence 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 Lawrence.
- Unreliable Service Quality: Discounted real estate brokers in Lawrence 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 Lawrence 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 Lawrence
Here are some options if you do not want to opt for a discount Realtor in Lawrence:
- 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 Massachusetts will help you list on the MLS and increase exposure.
- Sell Your House to Cash Buyers: Almost all cash buyers in Massachusetts scour the MLS for Lawrence 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 Lawrence. You’ll end up paying a full 5% to 6% commission. That’s $34,200 on a $570,000 home gone!
Frequently Asked Questions
Who are the best discount real estate brokers in Lawrence?
Houzeo.com and FSBO.com are the top discount real estate brokers in Lawrence. Both provide an incredible combination of savings and technology. However, FSBO.com has hidden additional costs, 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 Lawrence?
On average, traditional agents in Lawrence charge 5% to 6% of the sale price as commission. On the other hand, discount real estate brokerage firms in Lawrence charge 1% to 3%.
How do I find a discount broker near me in Lawrence?
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 Lawrence?
Yes, you can! Infact, post the NAR Settlement, you can now also negotiate buyer’s agent commissions.
