BREAKING NEWS: Post the NAR Settlement, Mississippi discount real estate brokers can save you almost the entire 6% commission. That translates to saving up to $15,360 in commission on an average $256,000 Mississippi home.
Whether you’re selling a house in Tupelo or Hattiesburg, the best discount real estate brokers in Mississippi 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 $15K on an average Mississippi home.
Rankings: Top 5 Mississippi Discount Real Estate Brokers
We’ve listed the top 5 discount real estate brokers in the Magnolia State based on how much you can save on an average $256,000 home.
| Rank | Discount Real Estate Broker / Company | Listing Fee | Additional Charges | Max Savings | 100% Online | Mobile App |
|---|---|---|---|---|---|---|
| 1. | Houzeo.com | $399 Flat Fee | ❌ | ✅ | ✅ | ✅ |
| 2. | I Sold My House | $399 Flat Fee | ✅ | ❌ | ❌ | ❌ |
| 3. | Ideal Agent | 2% Commission | ❌ | ❌ | ❌ | ❌ |
| 4. | UpNest | 4.3% or As Decided by Agent | ❌ | ❌ | ❌ | ❌ |
| 5. | Redfin | 1% Commission | ❌ | ❌ | ❌ | ✅ |
Types of Real Estate Discount Brokers in Mississippi
There are two types of Mississippi 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 Mississippi 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 Mississippi
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. I Sold My House
Experienced Broker
Listing Fee: Starting at $2994.7/5
I Sold My House provides flat fee MLS listing services across the nation. It offers 4 packages:
- Flat Fee Packages – $299 and $399: ISoldMyHouse.com offers 2 flat fee packages known as ‘Get Listed’ and ‘Get Sold’ respectively. It offers you an MLS listing, buyer leads, and FSBO listing on ISoldMyHouse.com.
- FSBO Packages – 3% Commission: This package offers all home-selling services at a discounted commission. It includes services like professional photographs, a yard sign, a lock box, and many more.
- Cash Buyer: ISoldMyHouse.com has a wide network of pre-approved cash buyers. The potential home buyers may receive an obligation-free cash offer.
👉 Our Take: ISoldMyHouse.com can be a cost-effective option for experienced sellers who are comfortable handling the selling process themselves. However, first-time sellers might find it less helpful due to the limited guidance offered.
ISoldMyHouse.com offers the following advantages:
- Experienced Broker: Kris Lippi, the owner of ISoldMyHouse.com, is an experienced real estate broker. His experience and knowledge can help you sell your house faster.
- Strong Customer Support: ISoldMyHouse.com has excellent reviews from sellers who have used their services. Quick responses and guidance at each stage highlight their strong customer support.
- Cash Buyer Option: You can sell your house as-is to a pre-qualified cash buyer. This option allows you to close quickly without paying any closing costs.
ISoldMyHouse.com has a few drawbacks:
- Limited service: ISoldMyHouse.com’s basic packages offer limited services like listing your house on the MLS. You’ll likely need to handle things like pricing, marketing, showings, and negotiations yourself.
- Not ideal for inexperienced sellers: The FSBO process can be complex, and ISoldMyHouse.com’s basic packages lack the guidance some sellers might need.
- No Buyer Support: ISoldMyHouse.com is not a buyer-focused platform. It does not offer any significant benefits to home buyers.
ISoldMyHouse.com has a rating of 4.5 out of 5 stars on Better Business Bureau.
» ISoldMyHouse.com Reviews: Learn from their reviews before choosing its services.
ISoldMyHouse was established in 1997. Kris Lippi is the broker and the owner of ISoldMyHouse. It offers its services across 8 states of the US.
In the remaining 42 states and Washington D.C., it will only sell your information as a lead to local brokers. It offers 3 most convenient ways to sell your house. You need to select the one that suits your requirements.
Reviews: 3 Best Fixed Percent Discount Brokers in Mississippi
3. 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.
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. Redfin
#1 Nationwide Brokerage
1% Listing Fee3.3/5
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’s full-service package is priced at 1.5%. It saves you thousands of dollars compared to the traditional 3% listing commission.
- Detailed Paperwork: Redfin provides 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.
In our research, we found some red flags of Redfin, that could make your experience less satisfactory.
- 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.
- Poor Customer Reviews: Customers have complained that agents are often unreachable and unprofessional.
- Slow Listing Process: According to Redfin’s listing agreement, a Redfin property takes 18 days to list on MLS. Services like Houzeo will list you on the MLS within 24 to 48 hours.
- 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.
- Agents are Less Incentivized: Unlike traditional agents who work for commission, Redfin agents get a fixed salary. This can demotivate them from offering you services apart from Redfin’s defined services.
Redfin has an average rating of 3.3 out of 5 stars on Yelp.
» Redfin Reviews: The Reality of 1% Fees, Pros & 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.
Discount Real Estate Brokers Mississippi: How Much Will You Save?💲
Mississippi 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 $15,360 to sell an average $256,000 house in the Magnolia State. But, if you choose a flat-rate broker company, you save thousands. With Houzeo’s Gold plan, you only pay $1,709 and save $13,651!
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 Mississippi: Pros and Cons
Even though cheap Realtors in Mississippi 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 Mississippi than a 6% Realtor. Even if you only want to list your Mississippi 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 Mississippi 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 Mississippi 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 MS.
- Unreliable Service Quality: Discounted real estate brokers in Mississippi 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 MS 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 Mississippi
Here are some options if you do not want to opt for a discount Realtor in Mississippi:
- 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 Mississippi will help you list on the MLS and increase exposure.
- Sell Your House to Cash Buyers: Almost all cash buyers in Mississippi scour the MLS for Mississippi 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 Mississippi. You’ll end up paying a full 5% to 6% commission. That’s $15,360 on a $256,000 home gone!
Frequently Asked Questions
Who are the best discount real estate brokers in Mississippi?
Houzeo.com and I Sold My House are the top discount real estate brokers in Mississippi. Both provide an incredible combination of savings and technology. However, I Sold My House has been rated 4.73 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 Mississippi?
On average, traditional agents in Mississippi charge 5% to 6% of the sale price as commission. On the other hand, discount real estate brokerage firms in Mississippi charge 1% to 3%.
How do I find a discount broker near me in Mississippi?
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 Mississippi?
Yes, you can! Infact, post the NAR Settlement, you can now also negotiate buyer’s agent commissions.
