Best Flat Fee Real Estate Agents in 2024
Flat fee real estate agents are essentially just agents that work on a flat fee commission, rather than the traditional percentage-based commission used by most realtors. Flat fees are also used by multiple listing service (MLS) companies that don’t actually sell your home for you, but allow you to list it on the MLS without an agent.
- Flat fee agents can be excellent options for sellers who don’t want to pay the high commissions of traditional real estate agents. They are essentially low commission realtors that charge a 1-1.5% listing fee on a home sale.
- Flat fee MLS companies can be a good option for owners looking to sell their own homes without enlisting an agent, as it provides MLS access and maximum listing exposure.
In this article, we’ll look at the top companies in each group and explore which sellers can benefit from each (and which should stick to other options).
» JUMP TO: Flat fee agents | Flat fee MLS | Best flat fee agents | Best flat fee MLS | Alternatives
What is a flat fee real estate agent?
When talking about flat fees in real estate, there are two common meanings: flat fee agents, and flat fee MLS companies. Although they sound similar, they’re very different things.
Flat fee real estate agents
These are simply real estate agents that charge a flat rate for their services, rather than basing their fee on a percentage of the sale price of a home.
For example, an average commission for a home sale might be around 3%. On the other hand, a flat fee agent might charge $5,000, regardless of the home's sale price. Many companies use flat minimum fees and switch to a percentage-based fee structure once the sale price reaches a certain threshold.
Most flat fee agents charge a fixed rate for listing a home and additional fees for premium services such as staging or open houses. Some flat fee agents ask for the fee upfront, whereas traditional agents only get paid once the home sells.
How much can I save with a flat fee agent?
Sellers can save a lot of money on realtor fees by going with a flat fee agent.
Let’s use a 3% commission rate for the seller to keep things simple. A $300,000 home would yield a fee of about $9,000. On a $500,000 home, the fee would be $15,000.
Keep in mind that these are just the listing fees paid to the seller’s agent—the buyer’s agent will also charge a similar fee. Using our earlier example flat fee of $5,000, a seller could potentially save thousands of dollars.
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Flat fee MLS companies
A flat fee MLS company differs greatly from the flat fee realtors we’ve discussed. The MLS is a database of properties for sale created by realtors. This helps agents see listed properties in an area and compare prices.
Normally, only real estate agents can add properties to an MLS. However, a flat fee MLS is a service that enables homeowners to pay a fee to add their homes without enlisting an agent. In other words, it’s a way for for-sale-by-owner (FSBO) properties to reach a larger audience.
Typical flat fee MLS services cost between $89 and $99, though some can be several hundred dollars. This is far less expensive than hiring a realtor.
However, it’s important to remember that without a realtor, you’ll be doing all the work of selling your home. The MLS listing certainly helps, but it isn’t the quick fix that some homeowners think it is.
How much can I save with a flat fee MLS?
You can save a lot of money using a flat fee MLS and selling your home yourself. Assuming a 3% commission on a $500,000 home, that’s $15,000 in listing fees using a traditional agent, whereas a flat fee MLS listing will cost you a few hundred dollars.
Remember that you'll be doing all the work of selling the home yourself—all the MLS listing gets you is a spot in the database. Additionally, FSBO homes tend to sell for far less than those where an agent leads the sale. This drop in sale price could easily outweigh any potential savings from using the flat fee MLS service.
Does the NAR settlement impact the flat fee business model?
Early in 2024, the National Association of Realtors (NAR) announced a settlement to help end ongoing litigation brought by home sellers. Part of the settlement involves changes to the traditional compensation rules used by realtors.
Most of the changes involve increasing transparency around commission rates, which is what many flat fee and discount agents are all about. Overall, these new rules reinforce the idea that sellers should have more options and more transparency regarding real estate transactions.
Top 3 flat fee real estate agents of 2024
Company | Listing fee |
|---|---|
1.5% (min. $3,000) | |
2. Redfin | 1.5% (min. fee varies) |
3. Ideal Agent | 2% (min. $3,000) |
1. Clever Real Estate
Commission rate: Flat $3,000 fee, or 1.5% of the sale price—whichever is greater.
Availability: Nationwide
What Clever offers: Clever Real Estate offers sellers a full-service real estate experience at a reduced price. The listing fee a flat $3,000 or 1.5% of the sale price, whichever is the higher amount.
While some companies offer lower percentage rates than Clever, the flat minimum fee is one of the lowest on the market, and the company aims to provide that rate without compromising on service.
What actual customers say online: Reviewers are impressed by the ease of the selling process, describing it as "full service at a discount price" and "the definition of quality." Most reviews are positive. There are a handful of complaints about agents, but these are relatively rare.
Who Clever is best for: Clever is a fantastic option for anyone who wants to sell a home without paying high listing fees.
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2. Redfin
Commission rate: A flat rate of $2,000–$9,000 (based on market) or 1.5% of the sale price, whichever is greater. Customers who both sell and buy through Redfin can save an extra 0.5%, bringing the fee down to 1%.
Availability: Nationwide
What Redfin offers: Redfin’s flat minimum fees vary based on the market—more expensive markets have higher minimum fees. After a certain home price, the rate transitions to a percentage (1.5%). Customers can also buy a home through Redfin, and those who do save an extra 0.5% on the listing fee, bringing it to just 1%.
What actual customers say online: Redfin reviews are generally positive, with customers claiming the agents are responsive, professional, and knowledgeable.
There are also some negative reviews, like this one from seller MaryBeth Morin: "I didn't get that far. I had a terrible conversation with Redfin agent Anthony who was not focused on my property. He kept saying it would be more desirable if it were in two other towns which doesn't help me! Also, he said he could not get $1M for my home which I didn't ask for! He was very rude!"
Who Redfin is best for: Redfin is ideal for customers who want to sell and buy through the same platform.
3. Ideal Agent
Commission rate: $3,000 flat minimum rate, then 2% of the home’s price.
Availability: Nationwide
What Ideal Agent offers: Ideal Agent uses a combination of online forms and interviews to match customers with real estate agents. The flat fee is extremely low, which helps offset the higher percentage-based rates.
What actual customers say online: Ideal Agent has generally positive reviews online. Customers tend to appreciate the level of service received from agents. As with Clever, most complaints focus on poor agent experiences, particularly communication. However, the company seems to respond quickly to issues and attempts to address them with customers.
Who Ideal Agent is best for: Home sellers who don’t mind paying a little more for good service.
Best flat fee MLS companies
Many flat fee MLS companies are available, each claiming to be the best option for sellers. Some of the most popular and highly rated include Beycome, iSoldMyHouse, Unreal Estate, and Homecoin.
- Beycome: Prices range from $99 for a basic MLS listing to $599 for a concierge service with marketing support and a dedicated closing coordinator. Customer opinions are generally positive and praise the professionalism of the service.
- iSoldMyHouse: Prices range from $299-399, depending on the level of service you want. Customers like the straightforward listing process and the platform’s ease of use.
- Unreal Estate: Packages start at $0 (yes, you read that correctly) and go up to $299, depending on how independent you want to be in your selling process. Reviews are mostly positive, but there aren’t many, which could be a downside for some.
- Homecoin: Homecoin prices start at $95. Customer reviews are excellent, praising the user-friendly system and low price.
Alternatives to flat fee agents
If you need more assistance in selling your home or otherwise decide that a flat fee agent isn’t for you, you’ve got options.
Full-service agents
The main alternative for many sellers will be a traditional, full-service real estate agent. These agents generally charge a higher percentage commission than flat fee or discount agents, but there are usually fewer compromises, so this will be a good option for many sellers.
Cash buyers and iBuyers
For homeowners who just want to sell quickly and are less worried about price, a cash buyer or iBuyer might be a good bet. iBuyers (also known as an instant buyer) is a company that uses online tools to buy and sell real estate online at a fast pace. It’s not unheard of for a home to sell within 24 hours with iBuyers. The trade-off is that prices are almost always far lower than a traditional real estate transaction.
FSBO
Finally, some homeowners will prefer to sell their home themselves. FSBO (for-sale-by-owner) transactions are a lot of work, but you can have the least overhead (in theory) because of the lack of listing fees.
However, there are downsides to consider.
Emily Dawson, a real estate agent with Coldwell Banker in Savannah, GA, explains: "Statistically, FSBO sell their homes for less than if they listed with a real estate agent that is versed in the market. Agents are able to pull more detailed comparables to price your home accordingly, we market your home, and we know the ins and outs of the local real estate market. Knowledge is certainly priceless when selling your greatest asset."