✏️ Editor’s Note: Realtor Associations, agents, and MLS’ have started implementing changes related to the NAR’s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. Learn how NAR’s settlement affects home sellers.
Prevu is a popular discount brokerage that offers savings on real estate transactions. They offer services in 14 states and Washington D.C.
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Pros
- Prevu only charges a 1.5% listing agent commission.
- They provide up to 2% buyer rebates.
- They provide pricing and closing assistance.
Cons
- You may lack personalized support as their agents manage multiple clients.
- Their coverage is limited to 14 states and DC.
Prevu is a discount real estate brokerage. Prevu is known for its 1.5% listing commission. They also offer up to 2% cash rebates to buyers. The company holds licenses in 14 states, including markets like New York and Los Angeles.
Traditional agents are paid via commissions. Prevu is different. Prevu agents are salaried, so they are less incentivized to help you sell successfully. Moreover, they have a small team. That means you choose from a smaller pool of agents.
Additionally, Prevu’s discounted listing fee is higher than that of their competitors. Moreover, their 2% buyer rebate is also subject to minimum commissions.
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✍️ Editor’s Take: To save on hefty listing commission, you should list For Sale By Owner. Houzeo help you get on the MLS for a flat fee. Compare Prevu vs. Houzeo.
Is Prevu Legit?
Yes. Prevu Real Estate is a legitimate brokerage. The company was founded by Chase Marsh and Thomas Kutzman. They offer services in 14 states and D.C.
Prevu’s team is relatively small. Their agents juggle multiple clients at once. So you may experience a lack of personalized support. Moreover, their limited coverage is a deal-breaker for Americans from other parts of the country.
Where Does Prevu Operate?
Prevu currently serves in 14 states and Washington D.C. They primarily serve high-end metros and suburbs. Prevu has little to no coverage in small towns.
How Does Prevu Work?
» Jump to: For Sellers | For Buyers
To work with Prevu, you need to create your account on their website. They have different sign-up processes for sellers and buyers.
For Sellers
Click on the ‘free home valuation’ button. This button is present on the ‘sell tab’ of their website. After that, you need to fill out a form with the following details:
- Property Details: Enter the type and address of the property you want to sell.
- Meeting Slot: Select the date and time to discuss the sale with Prevu’s team.
- Your Details: Fill in your personal information, including your name, email, and phone number.
- Password: Secure your account with a password and finish the sign-up process.
You will get a call from Prevu’s agent on your chosen date and time. They will conduct a home valuation and help you set an asking price. Other responsibilities of Prevu’s agents include assisting you in open houses, negotiations, and closing.
For Buyers
If you need Prevu’s assistance to schedule a visit, you can specify that in the sign-up window of their website. You need to fill in the property’s location and your preferred date and time to take the tour.
However, if you have visited a property and decide to buy it, click on the ‘make an offer’ button and fill in the following details:
- Offer Price: Inform Prevu’s team if you already have an offer amount in mind or want their assistance to determine the price.
- Payment Type: Specify if you will use a mortgage service or pay in cash.
- Mortgage Status: If you are purchasing with a mortgage, enter the down payment amount and the status of your loan.
- Time Slot: Finally, fill in your preferred time to discuss the offer with Prevu’s team.
Following that, a member of their staff will contact you and assist you throughout the process.
- 👉 Note: To be eligible for the cash rebate, you need to find the home on your own. Prevu’s agent comes into the
picture once you’ve found a home.
How Much Do You Save With Prevu?
Prevu offers listing services at a discounted price. They charge a 1.5% listing commission to sellers at closing instead of the conventional 3%. So you save around 1.5% in commission with Prevu.
However, if you want to maximize your savings, you should list with a flat fee company. Houzeo, allows you to list on the MLS for just $399. You don’t have to spend thousands to sell your house. So we recommend you compare all your options to find the most affordable way to sell your home.
» What’s My Home’s Value: You can know your home’s market value with Houzeo’s free Home Worth Estimator. It helps you estimate the amount you will get upon sale.
How Does Prevu Compare With Houzeo?
Prevu offers brokerage services for a reduced price. However, you still have to pay 1.5% commission. This is thousands of dollars from your home’s equity.
On the other hand, Houzeo gets your property on the MLS for just $399. From listing to closing, Houzeo assists you in navigating the home-selling journey effectively.
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Prevu Real Estate Reviews
Prevu has a 5-star rating on Google based on 528 reviews. It also has a 4.6 out of 5-star rating on Yelp based on 10 reviews.
Prevu Reviews: Praises
✅ Andrew was highly impressed with Prevu’s customer service. He felt delighted to have a rebate check in the mail within a few weeks of buying his home.
As a condo buyer, the service was excellent, efficient and good communication throughout. I closed a few weeks ago, and just yesterday got this massive rebate check in the mail. I can’t tell you how good it felt, because otherwise buying a place makes you feel entirely broke, so it was a great feeling. For someone proactive like me it was the ideal setup.
Source: Yelp
✅ Husker was pleased with the services provided to him by Prevu. His experience exceeded his expectations.
Stephanie with Prevu in Denver is truly the best Realtor I have ever worked with, and I have worked with many Realtors. She always seems to exceed my expectations in what I can expect from any Realtor. I never thought I could sincerely enjoy working with any Realtor, but she is the first that I sincerely like working with on finding investment properties.
Source: Google
Prevu Reviews: Complaints
❌ Suge’s experience was horrible due to the lack of communication with Prevu’s agent. He highlighted that his agent was overstretched and lacked support from Prevu’s team.
Got stuck in an exclusive broker agreement w/ Macie @ Prevu for 6 months as a seller. Asked Prevu to terminate the agreement due to COVID – they didn’t bother listing my apartment on MLS or even reach out at any point in the last two months. Horrible lack of communication and zero follow up. Avoid.
Source: Yelp
❌ Kevin was frustrated because his agent was inexperienced and provided no guidance at crucial stages of the home selling process.
I was expecting a slick, modern apartment buying experience but was often left in the dark and feeling alone through one of the most important moments in my life. It pains me to place any blame on our broker, since I sincerely felt he was doing the best he could. But the fact remains, that he was inexperienced, did not have a strong team behind him, and was visibly overstretched.
Source: Google
Prevu Reviews: Pros and Cons
Let’s evaluate the pros and cons of Prevu to see if they’re the ideal choice for you.
👍 Pros
Prevu offers some benefits to home sellers and buyers. These include:
- Commission Saving: Prevu charges a 1.5% listing commission rather than the typical 3%, giving you an affordable option to sell a home.
- Buyer Rebate: Prevu provides up to 2% cash rebates to buyers.
- Free Tools: Prevu.com offers free tools to help you calculate closing costs and mortgage installments.
👎 Cons
We also found certain dealbreakers with Prevu.
- Unclear Rebate Amount: As per Prevu’s website, the 2% buyer rebate is subject to change. The rebate depends on the minimum commission which is not disclosed on the website.
- Lack of Personal Assistance: Since Prevu’s agents handle multiple clients simultaneously, you may lack personal assistance from them.
- Inconsistent Agent Quality: As Prevu customer reviews highlight, your experience depends on the agent you collaborate with.
- Limited Coverage: Prevu operates in 14 states and D.C. Hence, people from other parts of America cannot avail of their services.
Prevu Real Estate vs. Competitors
» Jump to: Prevu vs. Redfin | Prevu vs. Houwzer | Prevu vs. SimpleShowing
Prevu vs. Redfin
Prevu and Redfin are discount real estate brokerages. Both companies charge 1.5% listing agents’ commission. However, with Redfin, you have a chance to save more. Redfin only charges a 1% commission if you buy and sell with them.
Prevu vs. Houwzer
Houwzer charges a 1% commission and offers similar services to Prevu. Moreover, Houwzer’s dashboard allows you to contact your agents and track listing progress online. So if you want to go the full-service way, Houwzer is a better option for you.
Prevu vs. SimpleShowing
SimpleShowing offers a comparable experience to Prevu at a lower cost. The company provides a 1% commission surpassing Prevu’s 1.5%. However, one limitation that persists with Prevu and SimpleShowing is the lack of personalized assistance.
Other Options You Should Consider
- Sell to iBuyers: iBuyers make an offer on your property within 24-48 hours and can close within 7 days. Most iBuyers like Opendoor and Offerpad are also known to offer the fair market value (FMV) of your property. If you’re wondering how to sell your house fast, iBuyers can be a great option.
- Sell FSBO With Flat Fee MLS Services: Flat Fee MLS websites will help you list and sell a house by owner and save thousands in listing agent commission. Many Flat Fee MLS websites will make your listing live within 24-48 hours. They will provide maximum exposure, professional services, and paperwork assistance.
- Sell to “Cash for Houses” Companies: Unlike iBuyers, “cash for houses” companies help you sell your house as-is fast. They can even close within 7 days or on any date you choose. Cash-for-houses companies also make cash offers for homes outside metro areas or in difficult-to-sell locations.
Discount Realtors Near Me
Should You Consider Prevu Real Estate?
If you want to buy a house, Prevu can be a good choice for you. You can get up to a 2% rebate. However, we do not recommend Prevu to most home sellers.
You hire a broker for dedicated support, which is missing in Prevu’s services, as per their customer reviews. So, if you are okay with selling your house without an agent’s support, why not go the FSBO way?
Houzeo offers you an MLS listing for a flat fee of $399. You save thousands on commission and get access to Houzeo’s technology, which makes home selling a breeze. Moreover, you can also avail yourself of virtual realtor support through Houzeo’s Gold and Platinum plans.
» Houzeo Reviews: Check out why more than 5,000 home sellers have rated Houzeo 4.9 stars out of 5.
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Frequently Asked Questions About Prevu Inc.
What is Prevu's smart buyer rebate?
Prevu offers a rebate to buyers who choose to purchase a house through their platform. The rebate is usually 2% of the home's purchase price. However, the actual amount of the rebate may change.
Is Prevu worth the money in 2023?
Probably not. Prevu has a small team that juggles multiple clients. So, even after paying a brokerage commission, you may not get their support at the vital stages of home selling. If you want to save money and avail better customer support, find the top real estate companies near you.
What are the major Prevu complaints?
The primary complaints of Prevu revolve around their lack of personal assistance and delays in responses. Customers have pointed out that Prevu's staff is overstretched, resulting in such experiences.
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