Top Flat Fee Real Estate Websites in 2021

Table of content

Traditional Agent vs Flat Fee Company

Traditional Agent

Flat Rate Real Estate Agents

3 Best Flat Fee Listing Sites

Richr

Houzeo

Clever

FAQ

What is a flat fee?

What is a flat fee in real estate?

How does flat-fee real estate work?

How flat-fee realtor commissions work?

What are the best flat fee rate websites for selling your home?

How Do Real Estate Websites Get Data?

Should you sell with a flat-fee real estate agent or broker?

Are real estate flat-fee listing companies reliable?

What is the best flat fee MLS company out there?

How much can you save with a flat listing fee?

Why do listing agents and brokers offer discounted flat fees?

In the recent 2020 report released by NAR, the National Association of Realtors, it’s no surprise that 51% of buyers found the home they purchased on the internet. Hardly a quarter of the nation is using a Realtor to find a home – in fact, only 28% of buyers trust their agent to find the perfect home or investment property for them. How exactly does this affect sellers? Since flat fee real estate is available online and ready to showcase your home to buyers, you don’t need to worry about choosing flat fee vs commission real estate. We’re here to tell you the pros and cons of each option with the best real estate websites of 2021 for you to choose from.

Traditional Agent vs Flat Fee Company

For decades, homeowners have been hiring real estate agents to sell their homes but have not had a standardized experience. While some realtors go above and beyond, offering stellar marketing and top-notch personal service with their 6% fee, others have been disappointing expectations. This has been causing sellers to consider another option beyond sticking a yard sign on the lawn and hoping for the best. Flat fee real estate sales have been growing in popularity ever since technology has adapted to suit buyers with an internet connection. There are some main differences where your typical traditional agent may be better suited for your needs.

Traditional Agent

A traditional agent collects 5-6% of the sale price instead of agreeing on a flat fee real estate listing. This means that if you sell for more – the agent gets more too. These relationships are great if you interview the right agent that is going to be worth the price. If you’re not in a market where properties are moving quickly, don’t have at least an hour a day to dedicate to the sale, and aren’t willing to source your own marketing, here’s what you can expect if you pay the big bucks:

• Photography paid for. If you source this yourself, it’ll only put you out between $200-300 if you hire a local photogrpaher.
• Staging included – only some agents do this at a higher fee. As long as the home is clean and decluttered, you can forgo this expense.
• Negotiating on your behalf. You will have to answer a lot of questions if you take on the listing yourself – but if answering questions can save you $10,000, so it may be worth a few hours on the phone.

When working with a traditional agent compared to a flat fee real estate buyer’s agent, such as Richr, you don’t receive any added bonus from the sale. The agent collects the commission in exchange for their expertise and advisement throughout the home buying process, as well as showing the homes, writing the offer and having you sign the paperwork. Richr gives back up to 2% of the sale price to buyers so they can invest in their future. On a $350,000, that’s an extra $10,500 you can spend on home renovations.

Flat Rate Real Estate Agents

Fee based real estate services have been growing in popularity, with more options for sellers becoming available year over year. With a variety of hands-off options available, paperwork assistance and concierge support, flat fee real estate is accessible for home sellers that are looking to save money and have complete control over the sale. But how do you know which one to choose? Here are the top flat rate fee real estate websites you need to know about.

3 Best Flat Fee Listing Sites

Richr

As an industry-leading flat fee real estate broker florida that aims to reward property owners and potential buyers by investing in their future through real estate, Richr offers an unparalleled opportunity. It costs absolutely nothing to put your home on the MLS and push it to over 750+ websites that buyers are using to browse. You’ll also be able to upgrade to have title settlement included for a mere $499. As a flat fee real estate listing florida service that also caters to buyers, homeowners and investors get the full package when selling commission-free or buying with a 2% cash-back reward. Here’s what you can expect from them:

• A one-stop-shop experience with connections to insurance, title settlement, lenders and more.
• Unlimited photos and changes to your listing at no cost
• Up to a 12-month listing agreement
• Real estate docs provided with unlimited concierge support

Houzeo

As another flat rate fee real estate company, Houzeo offers a variety of listing packages that support For Sale by Owners from $199 all the way to $999+ with limited virtual support and an upfront payment. Paying before your property is sold doesn’t ensure satisfaction like Richr provides its users. Here is what to expect when working with these types of flat-fee real estate companies:

• You can access everything through a user-friendly dashboard and have your home listed on popular websites such as Zillow, Trulia, Realtor.com, etc.
• You’ll need to coordinate your marketing, title services, insurance and lenders separately
• Real estate forms are only included in their $999 tier

Clever

Clever’s business model for flat fee real estate sales caters to homes under $350,000 at a rate of $3,000 in order to sell their home. However, if your sale price exceeds that, you’re looking at paying 1% of the sale price. Their spiel is that for your small fee, you’ll be aligned with agents from well-known brokerages such as Keller Williams, Century 21 and RE/MAX. Here’s what you can expect if this flat fee brokerage is working on your sale:

• An agent that will work with you on the sale of your home. They won’t act as a traditional agent, like organizing the marketing, but they will help you with the paperwork and questions. Keep in mind they’re working with dozens of other flat-fee clients that will be taking up their time.
• You can get cashback on your home purchase price too – but it’s only 0.5%.
• You’ll need to coordinate title settlement and pay for those fees.

FAQ

What is a flat fee?

A flat fee brokerage or agent will sell your home for a set fee, rather than basing it off a percentage of the sale price. Going this route typically saves the savvy seller but can add up in costs if you’re not informed about the brokerage you’re hiring. No matter what, you’re on the hook for the closing costs and title settlement fees unless hiring a company like Richr, which includes it in their Premium Richr One $499 flat fee. A flat fee real estate commission can save you $30,000 based on your average 6% commission!

What is a flat fee in real estate?

When property owners come across flat fee real estate services, it really means that they’ll be exchanging some of the full-service, traditional experiences for a hands-on approach that can save them thousands of dollars. Working with a flat fee brokerage, like Richr, gives you the support, paperwork and online tools you need in order to navigate the selling process. A traditional agent would come with some added bonuses at an inflated cost, such as:

• Arranging for professional photography and/or videography
• Hosting open houses and marketing on their social media
• Taking the calls from interested buyers instead of filtering through you

How does flat-fee real estate work?

When you hire a flat fee real estate agent or use an online provider like Richr, Zillow or Houzeo, you are taking on the responsibility of managing your own listing through their online tools.

For example, when you list with Richr, you get to put your home online for free, use their real estate documents, and have access to concierge services – all for $0. When you list with Houzeo, you pay a flat fee to access tiered pricing services based on your needs.

The way it works is that you are handling the call inquiries, offer process, and photography yourself in order to save on the typical 5-6% commission you would pay a standard agent.

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How flat-fee realtor commissions work?

Flat fee realtors work by producing more volume, handling more clients and quickly pumping out deal after deal. Working exclusively with a realtor that offers a flat fee or a company that assigns a singular agent to your case, like Houzeo, can be detrimental to your sale. This is because these agents are often overworked, underpaid and don’t feel the connection to the sale. When working with a Concierge-based support system like Richr, you have access to someone that’s able to take care of your needs promptly and answer any questions you may have. Don’t expect them to go above and beyond by staging, coordinating photography, or negotiating your offer. When signing up with a flat fee realtor, you’re in the driver’s seat of the sale.

What are the best flat fee rate websites for selling your home?

There are dozens of flat fee real estate websites that can help property owners sell their homes for a predetermined price. From $0-to $3,000+, you can find various companies that specialize in online services to help homeowners sell their property. We’ve outlined the three best companies that can help you save money on your home sale in this article.

How Do Real Estate Websites Get Data?

Real estate websites obtain their information by syncing to the MLS system, which is made up of different real estate board associations that put homes into a collective pool of information sharing. It’s a data exchange program that allows other companies to pay a fee in order to list on MLS after passing a few regulations. Real estate websites also get their data through property owners that are looking to sell on their own, and then they display that information on popular websites. Richr, for example, helps homeowners get in front of buyers on over 750+ websites.

Should you sell with a flat-fee real estate agent or broker?

Even if you’re considering a flat fee full service real estate opportunity, you need to compare the options available to you. Take Clever, for example. They are a flat fee company that claims to sell your home for 1% of the sale price. However, that only applies to homes that are selling over $350,000 as their minimum fee sits at $3,000.

A professional photographer averages between $200-400 in the Florida area. As long as you can take care of the description, negotiations and paperwork, choosing to list for $0 with Richr may be a better option for saving you money on your sale.

Are real estate flat-fee listing companies reliable?

Not all flat fee real estate reviews are positive, while some warn of deception, lack of responses, and a poor experience. Clever, for example, has a 1.6 star rating on Home Openly, warning property owners of having their information shared as a way to boost Clever’s bottom line. Other companies, like Richr, Houzeo and Flat Fee Realty have both positive and negative impressions like most brokerages, but Richr takes the lead on empowering homeowners.

Aaron from stated: “They literally saved me $9600…it didn’t cost me anything, I got my property listed on the MLS, got a buyer, their realtor got 2% from us, and we just closed. Great, easy experience.”

What is the best flat fee MLS company out there?

The best flat fee mls listing site is none other than Richr – offering equal opportunities for sellers to list their home for free. When comparing other flat fee real estate companies, a common complaint is the lack of support and do-it-yourself experience getting complicated when it comes to documentation.

When you sell with Richr, you’re provided all the listing documents and unlimited concierge support, for free. The only time you pay is when you sell and have your title settlement included for a nominal fee of $499.

How much can you save with a flat listing fee?

You can save upwards of ten thousand dollars when listing your home with flat fee real estate brokers or companies. The traditional Florida real estate agent will charge 5-6% commission on your home sale. The average price in August of 2021, according to Zillow, was $313,217. This means you could be paying around $19,000 on your home sale instead of investing that in your future. If you use a flat fee service with title settlement included, like Richr, you’re saving around $1400 and even more. Remember that the price of an agent doesn’t include title settlement anyway!

Why do listing agents and brokers offer discounted flat fees?

The reason that flat listing fee real estate exists is that companies knew technology-savvy sellers would be able to list their homes without a number of services that traditional agents were offering. With streamlined systems in place and a support department, flat fee agents and brokers were able to offer discounted fees in the hopes of bringing in a higher number of sales.

Richr’s mantra to helping homeowners explore a trustworthy option that both buyers and sellers can depend on.

“We exist to empower our community to control their finances and build more wealth through homeownership. We believe homeownership is a right that everyone should be able to attain. We are dedicated to helping people find a home where they feel safe with a roof over their head. We empower our community to take control of their funds and their future.”

Find out how you can save more with Richr when exploring the best flat fee websites in 2021.