BREAKING NEWS: Post the NAR Settlement, Milwaukee discount real estate brokers can save you almost the entire 6% commission. That translates to saving up to $13,500 in commission on an average $225,000 Milwaukee home.
Whether you’re selling a house in Bay View or Fox Point, the best discount real estate brokers in Milwaukee 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 $13K on an average Milwaukee home.
Rankings: Top 5 Milwaukee Discount Real Estate Brokers
We’ve listed the top 5 discount real estate brokers in the Cream City based on how much you can save on an average $225,000 home.
| Rank | Discount Real Estate Broker / Company | Listing Fee or Total Commission | 100% Online | 5-Star Reviews* | Mobile App |
|---|---|---|---|---|---|
| 1. | Houzeo | $399 Flat Fee | ✅ | ✅ | ✅ |
| 2. | Lake Country Flat Fee | $3995 Flat Fee | ❌ | ✅ | .❌ |
| 3. | Benefit Realty | 3.9% Commission | ❌ | ❌ | ❌ |
| 4. | Ideal Agent | 2% Commission | ❌ | ✅ | ❌ |
| 5. | Redfin | 1% Commission | ❌ | ❌ | ✅ |
Types of Real Estate Discount Brokers in Milwaukee
There are two types of Milwaukee 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 Wisconsin 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
Reviews: 2 Best Flat Rate Discount Real Estate Companies in Milwaukee
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 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 Milwaukee’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. Lake Country Flat Fee
GREAT LOCAL EXPOSURE
Listing Fee: $3,9954.9/5
Lake Country Flat Fee is a discount real estate brokerage. It offers all the services similar to a traditional broker.
- Full-Service Flat Fee Listing ($3,995): This package allows you to list your house for 6 months and upload 50 MLS photos. You get all the services from listing on MLS to negotiations and closing.
👉 Our Take: Lake Country Flat Fee offers a full-service package that is pricier than some competitors. Consider carefully if the Flat Fee structure benefits your specific property value and if their limited coverage area suits your needs.
Lake Country Flat Fee offers certain advantages:
- Flexible Listing Terms: The 6 month listing period can be extended or canceled for no extra charge.
- Comparable Market Analysis: Lake Country Flat Fee compares recently sold properties and current active listings to help you price your home competitively.
- Free Listing Changes: You can make changes to your listing like changes in price, photos, text, etc for no additional fees.
Lake Country Flat Fee has some disadvantages:
- Expensive Package: The only package that Lake Country Flat Fee offers will burn a hole in your pocket. Other Flat Fee MLS companies offer similar services but at a reasonable rate.
- Limited Coverage: The company only operates in Southeast Wisconsin.
Lake Country Flat Fee has 4.9 out of 5 stars on Google.
» Is Lake Country Flat Fee worth it? Read this comprehensive review to learn more about this brokerage.
Lake Country Flat Fee has a solid track record and a highly experienced real estate team to assist you.
The company offers you only one package worth $3,995. This is quite expensive compared to other players in the market. Moreover, the company doesn’t cover the entire state of Wisconsin.
Reviews: 3 Best Fixed Percent Discount Brokers in Milwaukee
3. Benefit Realty
COST EFFECTIVE
Listing Fee: 1.9% of Sale Price4.8/5
Benefit Realty is a full-service Realtor offering significant savings with:
- Fixed Commission: It charges a fixed 1.9% listing fee or a minimum of $2,850. For a $500,000 home, that’s about $9,500, which includes open houses, negotiations, market analysis, photography, and more.
👉 Our Take: The 1.9% commission is competitive for full-service real estate. However, Flat Fee MLS services provide greater savings.
Based on our research, the benefits of Benefit Realty are:
Here are some limitations we found with Benefit Realty:
- Minimum Commission: Even on lower-priced homes, you must pay at least $2,850.
- Limited Service Area: Benefit Realty is only available in southeastern Wisconsin and Northern Illinois.
- Not Ideal for High-Value Homes: Benefit Realty might not be ideal for luxury homes. For example, selling a house worth $1 million would still mean paying $19,000 in commission.
- Limited Reviews: Despite being in the business since 2008, Benefit Realty does not have enough reviews.
Benefit Benefit Realty has an average rating of 4.8 out of 5 stars on Google.
Benefit Realty offers 2 discount real estate packages, the difference being that 1 package includes buyer agent representation. Therefore, you can save on your buyer agent commission.
Benefit Realty may be a wise choice for sellers, especially if the company is also handling the buyer’s representation. They do not, however, provide any major benefits to buyers.
4. 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?
Ideal Agent is an agent matching service that bridges sellers and buyers with licensed real estate agents in their locality.
They offer a dedicated concierge but have weak technology. Customers who have worked with them prior have complained about hidden charges as well.
5. Redfin
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 Milwaukee: How Much Will You Save?💲
Milwaukee 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 $13,500 to sell an average $225,000 house in the Cream City. But, if you choose a flat-rate broker company, you save thousands. With Houzeo’s Gold plan, you only pay $1,554 and save $11,946!
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.
Lara Shane Saved $24,000 With Houzeo, You Can Too!
Start Your Home Selling Journey
Discount Realtors in Milwaukee: Pros and Cons
Even though cheap Realtors in Milwaukee 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 Milwaukee than a 6% Realtor. Even if you only want to list your Wisconsin 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 Milwaukee 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 Milwaukee 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 WI.
- Unreliable Service Quality: Discounted real estate brokers in Milwaukee 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 WI 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 Milwaukee
Here are some options if you do not want to opt for a discount Realtor in Milwaukee:
- 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 Wisconsin will help you list on the MLS and increase exposure.
- Sell Your House to Cash Buyers: Almost all cash buyers in Wisconsin scour the MLS for Wisconsin 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 Milwaukee. You’ll end up paying a full 5% to 6% commission. That’s $13,500 on a $225,000 home gone!
Frequently Asked Questions
Who are the best discount real estate brokers in Milwaukee?
Houzeo.com and Lake Country Flat Fee are the top discount real estate brokers in Milwaukee. Both provide an incredible combination of savings and technology. However, Lake Country Flat Fee charges expensive fees, 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 Milwaukee?
On average, traditional agents in Milwaukee charge 5% to 6% of the sale price as commission. On the other hand, discount real estate brokerage firms in Milwaukee charge 1% to 3%.
How do I find a discount broker near me in Milwaukee?
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 Milwaukee?
Yes, you can! Infact, post the NAR Settlement, you can now also negotiate buyer’s agent commissions.
