BREAKING NEWS: Post the NAR Settlement, New York discount real estate brokers can save you almost the entire 6% commission. That translates to saving up to $49,125 in commission on an average $818,750 New York home.
Whether you’re selling a house in Manhattan or Albany, the best discount real estate brokers in New York 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 49K on an average New York home.
Rankings: Top 5 New York Discount Real Estate Brokers
We’ve listed the top 5 discount real estate brokers in the Empire State based on how much you can save on an average $818,750 home.
| Rank | Discount Real Estate Broker / Company | Listing Fee | Max Savings | 100% Online | Mobile App |
|---|---|---|---|---|---|
| 1. | Houzeo.com | $399 Flat Fee | ✅ | ✅ | ✅ |
| 2 | Get More Offers | $99 Flat Fee (Varies) | ❌ | ✅ | ❌ |
| 2. | Prevu | 1.5% commission | ❌ | ❌ | ❌ |
| 4. | Homelight | 2.5% - 3% (Varies) | ❌ | ❌ | ❌ |
| 5. | UpNest | 4.3% Commission | ❌ | ❌ | ❌ |
Types of Real Estate Discount Brokers in New York
There are two types of New York 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 York 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 York
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 New York’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. 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 Real Estate is a licensed brokerage located in New York. 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.
Reviews: 3 Best Fixed Percent Discount Brokers in New York
3. Get More Offers: Instant Listing, Low Cost
GOOD EXPOSURE
Listing Fee: Starts at $99Get More Offers is a real estate software management system with a discount real estate broker e-commerce website. They offer three plans:
- FSBO Plan – ($99 upfront): 1-year listing on MyStateMLS (optional) and major real estate sites like Realtor.com, Zillow, etc.
- Solo Plan- ($299 upfront): Ideal for experienced sellers, includes expert transaction management and professional photography.
- Pro Plan – ($699 upfront): Includes full-service representation, expert pricing consultation, and professional photography.
👉 Our Take: Some plans can be counted as budget-friendly options, but they lack hand-holding support. However, they might be better for experienced sellers than for first-time home sellers.
Based on our research, the benefits of Get More Offers are:
- Fast Listing Entry: They have same-day listing to quickly get on the market.
- Control for Sellers: Self-representation options let sellers manage their own listings.
- 100% Online: The paperless system makes the process efficient and hassle-free.
- 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 Get More Offers, that could make your experience less satisfactory.
- Cancellation Policy: The PRO plan requires a 60-day cancellation notice, which might be inconvenient for those needing more flexibility.
- Limited Reviews: Even though Get More Offers has been here since 2005, it has no credible reviews.
- Limited Service Area: They are only available in New York and Florida.
No credible reviews were found.
Keith Robert Gordon and his partner, Erin Knorr, started GetMoreOffers.com in 2005. The company is a combination of a real estate software management system and a discount real estate broker e-commerce website.
Get More Offers gives your home far-reaching exposure. Their ‘PRO’ plan includes services like pre-listing consultation, contract negotiations, and professional photography.
4. Homelight: Top Agents Matched, Nationwide Expertise
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 an agent-matching company established by Drew Uher in 2012. It is a single platform where home sellers meet their prospective home buyers.
HomeLight has a huge broker database. Every agent handles multiple clients at a time. This may lead to miscommunication and a lack of personalized support.
5. UpNest: Full Service, Nation Wide Coverage
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 headquartered in California. The parent company, Move, Inc. (Realtor.com) acquired Upnest in June 2022.
UpNest pairs you with local agents with proven sales records. However, you may end up paying a high commission to the agent.
Discount Real Estate Brokers New York: How Much Will You Save?💲
New York 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 $49,125 to sell an average $818,750 house in the Empire State. But, if you choose a flat-rate broker company, you save thousands. With Houzeo’s Gold plan, you only pay $4,523 and save $44,602!
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 York: Pros and Cons
Even though cheap Realtors in New York 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 York than a 6% Realtor. Even if you only want to list your home on New York 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 York 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 York 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 NY.
- Unreliable Service Quality: Discounted real estate brokers in New York 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 NY 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 York
Here are some options if you do not want to opt for a discount Realtor in New York:
- 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 York will help you list on the MLS and increase exposure.
- Sell Your House to Cash Buyers: Almost all cash buyers in New York scour the MLS for New York 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 York. You’ll end up paying a full 5% to 6% commission. That’s $49,125 on a $818,750 home gone!
Frequently Asked Questions
Who are the best discount real estate brokers in New York?
Houzeo.com and Prevu are the top discount real estate brokers in New York. Both provide an incredible combination of savings and technology. However, Prevu 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 York?
On average, traditional agents in New York charge 5% to 6% of the sale price as commission. On the other hand, discount real estate brokerage firms in New York charge 1% to 3%.
How do I find a discount broker near me in New York?
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 York?
Yes, you can! Infact, post the NAR Settlement, you can now also negotiate buyer’s agent commissions.
