Prevu Reviews: Is This Discount Brokerage Worth It?

Prevu is a discount real estate brokerage available in 12 states across the country. It employs salaried agents, which allows the company to offer lower listing fees for sellers and significant buyer’s rebates for home seekers.

The seller’s agent's fees are 2% of the purchase price, which is slightly lower than the market average of 2.5-3%. For buyers, the company offers a Smart Buyer Rebate program, which reimburses up to 1% of the purchase price after closing.

Prevu’s customer reviews are mostly positive, and many praise the company’s agents and the savings for buyers. However, one thing to consider is the somewhat limited guidance offered from buyer’s agents — prepare to do some legwork if you decide to buy a house with Prevu.

Who Prevu works best for

Prevu is a good choice for self-sufficient buyers who are comfortable putting in the extra work when searching for a home. In return, they can benefit from the Smart Buyer Rebate, which can offset up to 1% of the purchase price. For example, using Prevu, buyers would get a $6,000 rebate after purchasing a $600,000 home.

Sellers don’t receive such significant savings, but Prevu’s agents’ fees are still lower than those of most traditional brokerages. Working with one of their brokers, sellers pay a 2% listing fee in comparison to the industry standard of 2.5-3%.

However, Prevu may not be the best fit for buyers who need hands-on guidance or prefer to have only minimal involvement in the process. Also, if you’re a seller who’s looking for lower fees, it’s possible to find other discount brokerages that offer similar services for lower prices.

For example, you can take a look at Clever, a platform that matches you with top realtors in your area while charging a 1.5% listing fee and providing full support and assistance.

Prevu reviews: What customers are saying

Prevu has overwhelmingly positive reviews from buyers and sellers. The company’s strengths lie in its professional team, knowledge of the local markets, and excellent communication.

Buyer rebates are another feature that reviewers highlighted.

Positive experiences

Clients appreciate the expertise and responsiveness of the company’s agents, especially their assistance with negotiations, closing, and difficult situations that may have arisen throughout the process.

"I am so grateful, Todd was knowledgeable, patient, friendly, helpful, and above all did what was right by us always. He made this stressful process more manageable and ensured that we were heard and understood everything step of the way."

— Nelly K., Yelp

Another thing customers highlighted is the significant cost savings. Many buyers praised the buyer's rebate program as a way to offset closing costs or even offer a seller more to seal the deal.

"We found a place on our own via an open house and then contacted Prevu. Our broker Kash was invaluable in providing advice and negotiating the deal to get us to a successful closing. Applying our rebate to increase the offer helped us win a bidding war. 100% recommended"

— Tom G., Google

Negative experiences

Prevu does not have many negative reviews from its clients. One thing we noticed is a few customers mentioning that Prevu’s model may not be the best choice for first-time homebuyers, as it requires a more proactive approach from home seekers.

"Highly recommend it for independent savvy buyers! If you want more hand holding and advisory from a realtor then we recommend finding a full service realtor outside of Prevu."

— Sam M., Google

Prevu pros and cons

Buyers who purchase with Prevu can get up to 1% of the purchase price back after closing, and customers leave stellar reviews about brokers’ professionalism and guidance.

On the other hand, Prevu’s model requires more independence and effort from buyers, which may not work for those who need more guidance or don’t have extra time to invest in the home search. Sellers pay a 2% fee for working with the company’s brokers, which is not a big difference from the traditional 2.5-3%. And Prevu is only available in select markets in 12 states and Washington, D.C.

Low-commission alternatives to Prevu

If you’re looking for alternatives to Prevu, Clever Real Estate may be your best choice. The company connects sellers and buyers with top-rated agents in their area who provide full hands-on support for a fraction of a traditional broker’s price — just 1.5%.

Other options offering similar services and good customer reviews include Redfin (the lowest fee but the lowest user satisfaction rating) and Ideal Agent. Redfin charges low commissions, but some reviewers believe they sacrificed some level of service for these savings. And Ideal Agent has solid reviews, but the 2% commission rate isn’t much lower than the industry standard of 2.5%.

How Prevu works

Prevu is a discount real estate brokerage, and your experience will be mostly similar to working with a traditional realtor.

Whether you’re a buyer or seller, you start by filling out a short form about your real estate needs. From there, Prevu will connect you with a suitable realtor who will assist you throughout the process.

Selling with Prevu

If you decide to sell with Prevu, here’s what the process may look like:

1. Sign a listing agreement with a Prevu realtor.
2. Receive a home valuation and develop a pricing strategy with your agent.
3. Prepare the house to be listed on the market.
4. Hold showings and open houses.
5. Choose an offer and sign a purchase agreement with a buyer.
6. Go through inspections and appraisals.
7. Close on the transaction.

Working with Prevu’s agent comes with a 2% fee for sellers, which is slightly lower than the average 2.5-3% you’d pay for a traditional realtor. However, sellers are also usually expected to pay for the buyer’s agent, so your total realtor’s fees will likely be higher than 2%.

Prevu’s services for sellers

Sellers can expect to receive a comprehensive list of services from Prevu’s agent, such as:

• Comparative market analysis (CMA)
• Professional photography
• 3D virtual tour
• Staging advice
• MLS listing
• Listing syndication (Zillow, realtor.com) 
• Management of showings and open houses
• Negotiation and closing support

Keep in mind that the exact services may differ somewhat depending on your situation, market, and the broker you choose.

Buying with Prevu

Prevu assists buyers with various tasks, such as scheduling showings, crafting offers, and negotiating deals. However, many buyers acknowledge that Prevu’s realtors tend to be more hands-off. Buyers might put in more legwork when looking for a suitable home or visiting open houses.

Here’s what the process could look like if you decide to buy a home using Prevu’s agent:

1. Sign an agreement with a Prevu realtor.
2. Look for properties that match your criteria.
3. Schedule showings (you could do it yourself or with your broker’s help).
4. Submit an offer.
5. Negotiate the terms and price.
6. Go through inspections and close on the house.
7. Receive your buyer’s rebate.

Prevu’s Smart Buyer Rebate is one of the main reasons buyers might be interested in working with Prevu. Many properties on Prevu’s search portal directly mention the size of the buyer’s rebate, while others will share it upon request. Generally, buyers can get as much as 1% of the purchase price back in the rebate, which they will receive after closing.

Prevu reviews: The bottom line

Prevu is worth considering for buyers and sellers seeking a solid level of service with lower-than-average fees. Buyers can benefit from the company’s rebate program, which reimburses up to 1% of the purchase price after closing.

However, if you prefer more personalized support as a first-time home buyer or are looking for larger savings as a seller, consider alternatives. Clever Real Estate can connect you with top-rated local agents and save you thousands in commission fees. Try Clever today!