BREAKING NEWS: Post the NAR Settlement, New Jersey discount real estate brokers can save you almost the entire 6% commission. That translates to saving up to $33,378 in commission on an average $556,300 New Jersey home.
Whether you’re selling a house in Jersey City or Princeton, the best discount real estate brokers in New Jersey 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 $33K on an average New Jersey home.
Rankings: Top 5 New Jersey Discount Real Estate Brokers
We’ve listed the top 5 discount real estate brokers in the Garden State based on how much you can save on an average $556,300 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. | Lovi Realty | 4,990 Flat Fee | ✅ | ❌ | ❌ | ❌ | ❌ |
| 3. | Prevu | 1.5% Commission | ❌ | ❌ | ❌ | ❌ | ❌ |
| 4. | Houwzer | 1% of Sale Price | ❌ | ❌ | ❌ | ❌ | ❌ |
| 5. | Redfin | 1% Commission | ❌ | ❌ | ❌ | ✅ | ✅ |
Types of Real Estate Discount Brokers in New Jersey
There are two types of New Jersey 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 New Jersey 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 New Jersey
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 New Jersey’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. Lovi Realty: Full Service, Limited Coverage
GREAT LOCAL EXPOSURE
Listing Fee: $4,9904/5
Lovi Realty provides its listing service at a discounted rate.
- Basic Plan – ($4,990): Lovi Realty lists your home for a flat fee of $4,990. This plan includes drone photography, marketing, and closing attorney fees.
- Full-Service Plan: The price of this package is finalized based on the agent discussion. This plan allows you to list your house across several real estate websites and social media. You also get complete marketing assistance, a yard sign, a lockbox, etc.
👉 Our Take: Lovi Realty’s full-service package covers all the services of a traditional broker. However, the price may be higher. You can consider other affordable flat fee company.
Based on our research, the benefits of Lovi Realty are:
- Full-Service Package: Lovi Realty provides traditional home-selling services at a discounted rate. These services include detailed marketing plans, house improvement suggestions, attorney fees, etc.
- Agent Assistance: The company believes in delivering the best service and support. They also offer expert supervision during the inspection and appraisal
Here are some limitations we found with Lovi Realty:
- Expensive Basic Plan: The basic plan is expensive as compared to other flat fee options. It also lacks certain important services such as listing on the MLS, negotiation assistance, reviewing offers, etc.
- Customer Dissatisfaction: As per customer reviews, agents lack professionalism and are inexperienced.
Lovi Realty has a 4.0 out of 5-star rating on Trustpilot.
Lovi Realty is a full-service discount brokerage. It offers services only in New Jersey.
It offers an expensive basic plan as compared to other real estate companies. The basic plan does not cover services like listing across the MLS, negotiation assistance, house showings, etc.
Reviews: 3 Best Fixed Percent Discount Brokers in New Jersey
3. Prevu: Full Service, Low Commission
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 broker holding licenses in 14 states, including markets like New York and Los Angeles. It currently operates in 14 states and Washington D.C. It primarily serves high-end metros and suburbs. Prevu has little to no coverage in small towns.
It has highly qualified agents and over 500 positive reviews on Google. However, Prevu has a small team of agents who deal with many clients. This limits your ability to select an agent of your choice.
4. Houwzer: 1% Fee, Lack of Personalized Assistance
BEST FOR LOW VALUE HOMES
Listing Fee: 1% of Sale Price4/5
Houwzer is a full-service discount Realtor. It offers:
- 1% Commission: It charges a fixed 1% listing fee on the total home sale price. That’s huge, for a $500,000 home, you’ll pay around $5,000. This 1% fee includes the charges for signs, photography, open houses, negotiation, etc.
👉 Our Take: The 1% commission is a little steep for MLS access. You can consider a Flat Fee MLS alternative for more savings and better tech.
Based on our research, the benefits of Houwzer are:
- Market Exposure: Your listing will be displayed on sites like Realtor.com, Zillow, Trulia, etc.
- Unlimited Showings: Houwzer’s agents are available seven days a week. You can schedule as many private showings as you want.
- Proprietary Software: You can organize your sale easily with Houwzer’s tech tools
Here are some limitations we found with Houwzer:
- Not Ideal for High-Value Homes: Houwzer’s model might not be ideal for luxury homes. For example, selling a house worth $1 million would still mean paying $10,000 in commission.
- Less Personalized Service: Houwzer agents handle multiple clients due to the flat-fee model, which means you might not get the one-on-one attention.
Houwzer has an average rating of 4.0 out of 5 stars on Yelp.
» Houwzer Reviews: Check out our detailed reviews on Houwzer.
Houwzer was established in Philadelphia in 2014. Its easy-to-navigate dashboard lets you chat with the agent and track your listings.
Moreover, other services, like photography and closing assistance, make your home-selling journey easy. Houwzer does not provide personalized assistance.
5. Redfin: 1% Listing Fee, Statewide Coverage
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.
Discount Real Estate Brokers New Jersey: How Much Will You Save?💲
New Jersey 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 $33,378 to sell an average $556,300 house in the Garden State. But, if you choose a flat-rate broker company, you save thousands. With Houzeo’s Gold plan, you only pay $3,211 and save $30,168!
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 New Jersey: Pros and Cons
Even though cheap Realtors in New Jersey 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 New Jersey than a 6% Realtor. Even if you only want to list your home on New Jersey MLS, you pay a much lower fee than the typical 3% listing agent fee.
- Receive Full-Service Realtor Services: Discount real estate agents in New Jersey 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 New Jersey 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 NJ.
- Unreliable Service Quality: Discounted real estate brokers in New Jersey 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 FL 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 New Jersey
Here are some options if you do not want to opt for a discount Realtor in New Jersey:
- 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 New Jersey will help you list on the MLS and increase exposure.
- Sell Your House to Cash Buyers: Almost all cash buyers in New Jersey scour the MLS for New Jersey 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 New Jersey. You’ll end up paying a full 5% to 6% commission. That’s $33,378 on a $556,300 home gone!
Frequently Asked Questions
Who are the best discount real estate brokers in New Jersey?
Houzeo.com and Lovi Realty are the top discount real estate brokers in New Jersey. Both provide an incredible combination of savings and technology. However, Lovi 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 New Jersey?
On average, traditional agents in New Jersey charge 5% to 6% of the sale price as commission. On the other hand, discount real estate brokerage firms in New Jersey charge 1% to 3%.
How do I find a discount broker near me in New Jersey?
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 New Jersey?
Yes, you can! Infact, post the NAR Settlement, you can now also negotiate buyer’s agent commissions.
