BREAKING NEWS: Post the NAR Settlement, South Dakota discount real estate brokers can save you almost the entire 6% commission. That translates to saving up to $19,296 in commission on an average $321,600 South Dakota home.
Whether you’re selling a house in Pierre or Sioux Falls, the best discount real estate brokers in South Dakota 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 $19,296 on an average South Dakota home.
Rankings: Top 5 South Dakota Discount Real Estate Brokers
We’ve listed the top 5 discount real estate brokers in the Mount Rushmore State based on how much you can save on an average $321,600 home.
| Rank | Discount Real Estate Broker / Company | Listing Fee | Max Savings | 100% Online | Mobile App |
|---|---|---|---|---|---|
| 1. | Houzeo | $399 | ✅ | ✅ | ✅ |
| 2. | Flat Fee Realty | Varies | ❌ | ❌ | ❌ |
| 3. | Coldwell Banker | 2.5%-3% Commission | ✅ | ❌ | ✅ |
| 4. | UpNest | 4.3% Commission or As Decided by the Agent | ❌ | ❌ | ❌ |
| 5. | HomeLight | 2.5% Commission | ❌ | ❌ | ❌ |
Types of Real Estate Discount Brokers in South Dakota
There are two types of South Dakota 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 South Dakota 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 South Dakota
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 $12,511.
- 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 South Dakota’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. Flat Fee Realty: Flat Fee, Full Service
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.
Reviews: 3 Best Fixed Percent Discount Brokers in South Dakota
3. Coldwell Banker Realty
LOCAL YET NATIONAL
Listing Fee: 2.5%-3% of Sale Price1.3/5
Coldwell Banker offers a variety of free tools to the seller. It includes tools like a home value estimator, moving meter tool, local market data, and fast cash offer alternatives.
- 2.5%-3% Commission: Coldwell charges a traditional brokerage fee. It offers services like renovations, home staging, technology support, etc at no upfront cost. You may negotiate your offer with their agent to get a discount.
👉 Our Take: Coldwell Banker has a huge team of professional agents. They assist you at all the stages of your real estate transaction. However, we suggest reading the customer reviews before proceeding.
Coldwell Banker provides the following advantages:
- Local and Experienced Agents: Agents with local expertise help you learn more about the current housing market state. You can then price your house right.
- Seller’s Assurance Program: It offers benefits like home staging, renovations, and technology support at no upfront cost. You pay for this expense only after your house is sold.
- Home Financing: Coldwell Banker assists buyers with home financing options. This includes down payments, mortgage prequalification, loan approval, etc.
Coldwell Banker provides the following disadvantages:
- Poor Customer Feedback: Customers have mentioned issues regarding commission percentage and unprofessionalism.
- Undisclosed Commission: Coldwell Banker does not offer fixed packages like other discount brokerages. They don’t disclose pricing options until you consult with them, and without strong negotiation, you could pay more than necessary.
It has a rating of 1.3 out of 5 stars on Consumer Affairs.
Coldwell Banker has been serving the real estate industry since 1906. A large network of brokers and sales associates is spread across 40 countries.
It offers a mobile app that makes the online listing process easy. However, it has average customer feedback.
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. HomeLight
GOOD AGENT COVERAGE
Listing Fee: 2.5% of sale price4.6/5
HomeLight has a network of thousands of successful real estate agents and brokers. It is an agent-matching tech-platform.
- Standard Commission: HomeLight is a free agent-matching platform. The agent you get through this platform will charge the standard commission of 2% to 3% for listing.
👉 Our Take: HomeLight provides decent agent-matching services. However, the standard listing commission means zero savings for you.
» HomeLight Reviews: The Truth You Need To Know
HomeLight offers a number of advantages to both sellers and buyers:
For Home Sellers:
- Free Agent Matching: The agent matching service from HomeLight is free for home sellers. HomeLight furnishes details of the best real estate agents in your neighborhood. Depending on the agent, the traditional 5% to 6% commission is charged.
- Estimators and Calculators: HomeLight offers Home Value Estimator, Best Time To Sell Calculator, Agent Commissions Calculator, and Net Proceeds Calculator to home sellers.
- HomeLight Simple Sale: HomeLight has a network of pre-approved buyers. If you want to sell your house fast, this option allows you to sell it to a cash buyer within 7 days.
For Home Buyers:
- Home Search Feature: Buyers can search for homes by city, zip code, or address.
- Estimators: HomeLight offers estimators like Home Affordability Calculator, Down Payment Calculator, and Closing Costs Calculator for home buyers.
In our research, we have found some red flags associated with HomeLight.
- Inconsistent Agent Quality: The agents they assign may not work at your convenience. Even the listing speed will be based on the agent selected.
- Off-market Restriction: Registering on HomeLight will get you offers from agents instantly. Although the process is fast, only homes that are off-market are allowed.
HomeLight has an average rating of 4.6 out of 5 from 237 reviews on Sitejabber.
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.
It has a huge broker database. Every agent handles multiple clients at a time. This leads to miscommunication and a lack of personalized support.
Discount Real Estate Brokers South Dakota: How Much Will You Save?💲
South Dakota 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 $19,296 to sell an average $321,600 house in the Mount Rushmore State. But, if you choose a flat-rate broker company, you save thousands. With Houzeo’s Gold plan, you only pay $3,645 and save $15,651!
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 South Dakota: Pros and Cons
Even though cheap Realtors in South Dakota 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 South Dakota than a 6% Realtor. Even if you only want to list your South Dakota 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 South Dakota 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 South Dakota 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 SD.
- Unreliable Service Quality: Discounted real estate brokers in South Dakota 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 SD 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 South Dakota
Here are some options if you do not want to opt for a discount Realtor in South Dakota:
- 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 South Dakota will help you list on the MLS and increase exposure.
- Sell Your House to Cash Buyers: Almost all cash buyers in South Dakota scour the MLS for South Dakota 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 South Dakota. You’ll end up paying a full 5% to 6% commission. That’s $19,296 on a $321,600 home gone!
Frequently Asked Questions
Who are the best discount real estate brokers in South Dakota?
Houzeo.com and Flat Fee Realty are the top discount real estate brokers in South Dakota. Both provide an incredible combination of savings and technology. However, Flat Fee Realty has only 10 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 South Dakota?
On average, traditional agents in South Dakota charge 5% to 6% of the sale price as commission. On the other hand, discount real estate brokerage firms in Florida charge 1% to 3%.
How do I find a discount broker near me in South Dakota?
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 South Dakota?
Yes, you can! In fact, post the NAR Settlement, you can now also negotiate buyer’s agent commissions.
