BREAKING NEWS: Post the NAR Settlement, Tennessee discount real estate brokers can save you almost the entire 6% commission. That translates to saving up to $23,136 in commission on an average $385,600 Tennessee home.
Whether you’re selling a house in Nashville or Mayland, the best discount real estate brokers in Tennessee 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 $23K on an average Tennessee home.
Rankings: Top 5 Tennessee Discount Real Estate Brokers
We’ve listed the top 5 discount real estate brokers in the Volunteer State based on how much you can save on an average $385,600 home.
| Rank | Discount Real Estate Broker / Company | Listing Fee | Additional Charges | Max Savings | 100% Online | Mobile App |
|---|---|---|---|---|---|---|
| 1. | Houzeo.com | $399 Flat Fee | ❌ | ✅ | ✅ | ✅ |
| 2. | Redefy | $3,500 Flat Fee | ❌ | ❌ | ❌ | ❌ |
| 3. | Homelight | 2.5%-3% Commission (Varies) | ❌ | ❌ | ❌ | ❌ |
| 4. | Redfin | 1% Commission | ❌ | ❌ | ❌ | ❌ |
| 5. | Felix Homes | 2% Commission | ❌ | ❌ | ❌ | ❌ |
Types of Real Estate Discount Brokers in Tennessee
There are two types of Tennessee 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 Tennessee 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 Tennessee
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 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 $12,231.
- 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 10,100+ 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 Tennessee’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. Redefy
IN-HOUSE SUPPORT
Listing Fee: Starting at $3794/5
Redefy DIY is a real estate service that allows homeowners to list their properties on the MLS for a flat fee. It offers 3 packages:
- Self-Service – ($379): This plan includes a 6-month listing on Zillow, Realtor.com, and your local MLS. You get a yard sign, 10 photos, and a door key lockbox. No agent support is provided.
- Limited Service – ($499): Features a 1-year listing on Zillow, Realtor.com, and your local MLS. It includes a yard sign, 25 photos, a door key lock box, and CSS showing service. It also includes live chat support.
- Virtual Full Service – ($2,995): This premium plan provides a 1-year listing with all features from the Limited Service plan. Additionally, you get in-home consulatation, contract reviews, professional photography, and market analysis.
👉 Our Take: Redefy is a good option if you want flexible pricing and prioritize savings over personalized service. However, the service quality may vary and you’ll need to opt for the premium package for additional support.
Here’s what stands out about Redefy:
- Affordable Pricing: Packages start as low as $379, giving you flexible options to fit your budget. Every plan includes essential features like local listing, email, text, live chat support, yard signs, and door lock keys.
- In-House Support: You are provided with professional in-house support like home staging with accurate pricing.
- Mortgage Calculator: Redefy’s Mortgage Calculator allows you to estimate your overall mortgage, insurance, and taxes.
Here are some of the downsides of working with Redefy::
- Limited Agent Availability: Full support is only available with the premium package, and service quality can vary.
- Lack of Personalized Services: Customers have often complained that Redefy agents are not able to give personalized service, as they serve a high volume of clients.
- Limited Coverage: Services are only available in 9 states: Colorado, Florida, Georgia, Illinois, North Carolina, South Carolina, Tennessee, Texas, and Virginia.
Redefy has a rating of 4 out of 5 stars on Yelp.
Redefy is a discount real estate brokerage introduced in 2011. It is headquartered in Aurora, Colorado.
It is a licensed firm that works on the principle of a flat fee. This means for your million-dollar house, you just pay a flat rate. You also need to pay $500 as a non-refundable deposit. This increases your overall package cost.
Reviews: 3 Best Fixed Percent Discount Brokers in Tennessee
3. Homelight
AGENT MATCHING SERVICE
Listing Fee: Varies as per the agent4.2/5
HomeLight is an agent-matching service provider. Its technology-based platform provides agent suggestions within minutes.
- No Upfront Cost: HomeLight does not charge any fees to buyers or sellers. The real estate agents pay a referral fee to HomeLight at the time of closing.
👉 Our Take: HomeLight connects you with a local agent to help you sell your house. The agent charges you as per his customized services including the HomeLight’s referral fee. This will ultimately make you pay more than other discount real estate brokers.
Based on our research, the benefits of HomeLight are:
- Quick Pairing: HomeLight connects you with the list of agents within two minutes of your online form filling.
- Representative Network: HomeLight has a database of over 28,000 agents. This allows you to compare the agents and select the best one based on discounts, experience, and sales records.
- Coverage: Their services are available in 51 states and all major cities across the country.
» Homelight Pros & Cons: Know about their offerings that would help you sell your house seamlessly.
Here are some limitations we found with HomeLight:
- Non-Negotiable Commissions: Every agent has to pay a referral fee to Homelight. Hence, you lose the ability to bargain for the commission.
- Off-Market Restriction: You can instantly receive bids from agents by registering on HomeLight.
- Inconsistent Agent Quality: The assigned agents may not work at your convenience. Even the listing speed will be based on the agent selected.
HomeLight has a rating of 4.2 out of 5 stars on Sitejabber.
» HomeLight Reviews: Check out our detailed reviews on HomeLight.
HomeLight is a real estate website that puts home sellers, agents, and buyers under the same roof.
Their agents handle multiple clients at a time. This could lead to miscommunication and a lack of personalized support.
4. Redfin: 1% Listing Fee, Statewide Coverage
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 was headquartered in Seattle 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. Felix Homes
GREAT REVIEWS
Listing Price: 1.5% of sale price4.9/5
Felix Homes is a discount real estate broker that offers home sellers and buyers affordable services.
- 1.5% Commissions (or a minimum of $4,000): Felix offers a full-service package with local real estate agents. This includes a home valuation analysis, professional photos, and drone footage to showcase your property.
👉 Our Take: Felix charges a 1.5% commission with personalized local expertise and high-quality marketing tools. However, like many discount brokerages, the level of support might vary depending on the market.
Felix Homes offers the following advantages:
- Local Real Estate Expert: Felix pairs you with a local real estate expert who understands your market, providing personalized support throughout the selling process.
- Custom Home Valuation Analysis: Felix offers a detailed comparative market analysis of your home to ensure your property is priced accurately for a competitive market.
- Listing Exposure: Your property will be listed on major platforms like MLS, Zillow, Realtor.com, and more, ensuring maximum visibility.
We did not find any red flags during our research.
- Limited Agent Network: While Felix provides local expertise, its agent network may be smaller compared to larger brokerages, potentially affecting service availability in some regions.
- Smaller Buyer Network: With a smaller brand presence, Felix may not attract the same volume of buyers as larger, well-known brokerages, which could result in a longer time on the market.
Felix Homes has a rating of 4.9 out of 5 on Trustpilot.
Felix Homes, operating solely as a corporate entity, in Tennessee offers sellers a 1.5% commission on their home sales. Buyers benefit from a rebate that lowers the total agent commission to 1.5%.
Their 90-day program provides a safety net for home sellers as the company purchases approved homes at a discounted rate if the property doesn’t sell within the specified timeframe.
Discount Real Estate Brokers Tennessee: How Much Will You Save?💲
Tennessee 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 $23,136 to sell an average $385,600 house in the Volunteer State. But, if you choose a flat-rate broker company, you save thousands. With Houzeo’s Gold plan, you only pay $2,357 and save $20,779!
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.
How to Find Discount Real Estate Brokers Near Me in Tennessee?
Here’s a list of the best discount Realtors in the most popular cities of the Volunteer State:
| Nashville, TN | Discount Real Estate Brokers in Nashville, TN |
Discount Realtors in Tennessee: Pros and Cons
Even though cheap Realtors in Tennessee 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 Tennessee than a 6% Realtor. Even if you only want to list your home on Tennessee MLS, you pay a much lower fee than the typical 3% listing agent fee.
- Receive Full-Service Realtor Services: Discount real estate agents in Tennessee 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 Tennessee 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 TN.
- Unreliable Service Quality: Discounted real estate brokers in Tennessee 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 TN 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 Tennessee
Here are some options if you do not want to opt for a discount Realtor in Tennessee:
- 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 Tennessee will help you list on the MLS and increase exposure.
- Sell Your House to Cash Buyers: Almost all cash buyers in Tennessee scour the MLS for Tennessee 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 Tennessee. You’ll end up paying a full 5% to 6% commission. That’s $23,136 on a $385,600 home gone!
Frequently Asked Questions
Who are the best discount real estate brokers in Tennessee?
Houzeo.com and Redefy are the top discount real estate brokers in Tennessee. Both provide an incredible combination of savings and technology. However, Redefy has only 4 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 Tennessee?
On average, traditional agents in Tennessee charge 5% to 6% of the sale price as commission. On the other hand, discount real estate brokerage firms in Tennessee charge 1% to 3%.
How do I find a discount broker near me in Tennessee?
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 Tennessee?
Yes, you can! Infact, post the NAR Settlement, you can now also negotiate buyer’s agent commissions.
