BREAKING NEWS: Post the NAR Settlement, Illinois discount real estate brokers can save you almost the entire 6% commission. That translates to saving up to $18,048 in commission on an average $300,800 Illinois home.
Whether you’re selling a house in Chicago or Peoria, the best discount real estate brokers in Illinois 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 $18K on an average Illinois home.
Rankings: Top 5 Illinois Discount Real Estate Brokers
We’ve listed the top 5 discount real estate brokers in the Prairie State based on how much you can save on an average $300,800 home.
| Rank | Discount Real Estate Broker / Company | Listing Fee | Max Savings | 100% Online | 5-Star Reviews* | Broad Coverage | Mobile App |
|---|---|---|---|---|---|---|---|
| 1. | Houzeo | $399 Flat Fee | ✅ | ✅ | ✅ | ✅ | ✅ |
| 2. | Lucid Realty | 1%-2.5% Commission | ✅ | ❌ | ❌ | ❌ | ❌ |
| 3. | Flat Fee Realty | Varies | ❌ | ❌ | ❌ | ❌ | ❌ |
| 4. | Redefy | $3,500 Flat Fee | ❌ | ❌ | ✅ | ❌ | ❌ |
| 5. | Redfin | 1% Commission | ❌ | ❌ | ❌ | ✅ | ✅ |
Types of Real Estate Discount Brokers in Illinois
There are two types of Illinois 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 Illinois 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 Illinois
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 Illinois’ #1 ranked discount real estate brokerage. It provides an unbeatable combination of maximum savings and 5-star customer support.
2. Lucid Realty
GREAT LOCAL EXPOSURE
Listing Fee: 1%-2.5% Commission5/5
Lucid Realty is a full-service discount brokerage. It offers a pricing plan that helps you sell your house with less commission.
- Commission (1% to 1.25%): Lucid Realty provides its listing services with a commission between 1% to 2.5%. It includes services like a single point of contact, professional photography, yard signage, etc.
👉 Our Take: Lucid Realty offers full-service brokerage at a much lower commission. It follows a sliding scale service method where your expensive house makes you save more. However, you may consider other flat-fee brokerages that would eventually make you pay less.
Lucid Realty offers certain advantages:
- Agent Assistance: You will be assigned a single agent throughout your home-selling process. He will guide you in your home inspection and home appraisal procedure too.
- Local Exposure: Lucid Realty lists your house on the local MLS to get better exposure. This helps to sell your house fast.
- Comprehensive Market Analysis: Sellers receive a thorough market analysis and pricing recommendation, ensuring their home is competitively priced.
- Exclusive Marketing Plan: Lucid Realty evaluates your house’s key features and provides suggestions for the same. It also gives you price recommendations and guidance on market analysis.
Lucid Realty has certain disadvantages:
- Fluctuating Commission: The commission percent is not fixed. It may go to 1.25% which is higher than another discount brokerage.
- Coverage: It offers services only in the Chicago suburbs and its neighborhoods.
Lucid Realty has a rating of 5 out of 5 stars on Yelp.
Lucid Realty, founded by industry veterans Gary Lucido and Sari Levy, provides a full-service experience at a fraction of the traditional cost. They built the company to challenge the outdated, high-fee models of conventional brokers.
Sellers who choose Lucid Realty gain access to significant savings, with 1% to 2.5% commissions and buyer rebates, all while receiving the same level of support as full-price brokerages.
Reviews: 3 Best Fixed Percent Discount Brokers in Illinois
3. Flat Fee Realty
Affordable MLS Listing
Listing Fee: Starts from $1993.2/5
Flat Fee Realty provides a single MLS package, with prices varying based on the state.
- Package: In most states, the price starts at $199 + 0.25% listing broker fee at closing. The package includes a 6-month listing term with six photos. By paying an extra $50, you can add up to 25 photos.
👉 Our Take: Flat Fee Realty is affordable. However, the extra costs for upgrades and limited features may not fit all sellers’ needs. It can be a good option for land and lot owners.
Based on our research, the benefits of Flat Fee Realty are:
- Refund Policy: You can request a refund within 30 days of purchase, as long as your property has not been listed on the MLS.
- Affordable Plan: Their flat fee package is budget-friendly compared to competitors. It is a good option for land and lot owners.
- Disclosures: State-specific disclosures are included with every listing.
- Market Exposure: Your home gets listed on the local MLS and displayed on all major real estate websites like Realtor.com, Zillow, Trulia, etc.
In our research, we found some red flags of Flat Fee Realty, that could make your experience less satisfactory.
- Limited Reviews: Even though Flat Fee Realty has been here since 2006, it has no credible reviews.
- Fixed Package: No customization is offered beyond the basic listing package.
- Not 100% Online: It is not fully online, causing potential delays in listing.
- Additional Fees: You need to pay an additional $50 to upgrade your listing with extra photos.
In our research, we have not found any credible reviews for Flat Fee Realty.
Fred Romano owns Flat Fee Realty LLC. The company is a licensed brokerage in Connecticut. In the remaining states, they partner with licensed brokers to list your property on the MLS.
Flat Fee Realty charges 0.10 – 0.25% commission at closing. Even though they claim the buyer agent pays this, the entire commission comes out of the seller’s proceeds.
4. 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.
5. Redfin
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.
Discount Real Estate Brokers Illinois: How Much Will You Save?💲
Illinois 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 $18,048 to sell an average $300,800 house in the Prairie State. But, if you choose a flat-rate broker company, you save thousands. With Houzeo’s Gold plan, you only pay $1,933 and save $16,115!
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 a Discount Real Estate Broker in Illinois Near Me?
Here’s a list of the best discount Realtors in the most popular cities of the Prairie State.
| 1. Chicago, IL | Discount Real Estate Brokers in Chicago, IL |
| 2. Naperville, IL | Discount Real Estate Brokers in Naperville, IL |
| 3. Westchester, IL | Discount Real Estate Brokers in Westchester, IL |
Discount Realtors Illinois: Pros and Cons
Even though Illinois’ discount real estate brokers 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 Illinois than a 6% Realtor. Even if you only want to list your home on Illinois MLS, you pay a much lower fee than the typical 3% listing agent fee.
- Receive Full-Service Realtor Services: Discount real estate agents in Illinois 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 Illinois 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 IL.
- Unreliable Service Quality: Discount real estate brokers in Illinois 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: A discount realty company 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 Illinois
Here are some options if you do not want to opt for a discount Realtor in Illinois:
- Sell Your Home For Sale By Owner: In a FSBO sale, you will have to opt for “DIY” marketing strategies like using FSBO yard signs, word of mouth, open houses, etc. But your listing won’t be on Redfin, Trulia, Zillow, Realtor.com, and Homes.com. Meanwhile, FSBO websites in Illinois will help you list on the MLS and increase exposure.
- Sell Your House to Cash Buyers: Almost all cash buyers in Illinois scour the MLS for Illinois 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 Illinois. You’ll end up paying a full 5% to 6% commission. That’s $18,048 on a $300,800 home gone!
Frequently Asked Questions
Who are the best discount real estate brokers in Illinois?
Houzeo.com and Lucid Realty are the top discount real estate brokers in Illinois. Both provide an incredible combination of savings and technology. However, Lucid Realty has only 5 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 Illinois?
On average, traditional agents in Illinois charge 5% to 6% of the sale price as commission. On the other hand, discount real estate brokers charge 1% to 3%.
How do I find a discount broker near me in Illinois?
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 Illinois?
Yes, you can! Infact, post the NAR Settlement, you can now also negotiate buyer’s agent commissions.
