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The current real estate market in Florida is not that lucrative. The number of home sales in Florida dropped this year as compared to last year. In such a market, it is even more important for you to find a top realtor in the US State of Florida. A top realtor or discount real estate broker in Florida not only helps you save thousands of dollars in agent commissions but also makes your sale smooth sailing.
Let us learn about discount real estate brokers, how much realtors make in Florida, and then get to the top 3 discount real estate brokers in Florida.
Discount real estate brokers or low commission brokers are brokerages or realtors that offer their service in selling your home at discounted commission rates. They may operate in different ways they may offer you lower commission rates or give you commission rebates.
You can definitely go looking for them in Florida to save some good money in the process. But what is important is that you look for discount realtors with good experience, services, and attentiveness apart from their discounted rates. You must clearly know the value you are going to get for your money.
But remember that you can benefit from the deal you get on agent commissions only if your home gets sold. What many discount real estate brokers do is they charge a lower 4.5% commission but offer only 1.5% out of it to buyer agents. The buyer agents do not pay attention to such properties as they just can’t afford to work on them. If you want to sell your property relatively fast, you can’t expect such a time-consuming process.
Alternatively, if you have an experienced agent wanting to work hard for you and is fine giving you some discount, it is a way better option for you.
As per 2019 Bureau of Labor Statistics data, the average earnings for Florida real estate agents is about USD 60,000. Evidently, the number varies as per the agent’s work grasp of technology, the load they can handle, and the number of clients she can service to.
Traditional real estate agents in Florida charge a 6% commission. So, you have to give out 6% of your house’s selling price as a commission to them. The commission is split 50-50 between the buyer’s and seller’s agents. So, if you are selling a home and paying a 6% commission, your agent typically gets about a 3% commission. Again, with the 3% commission she receives, she has to split it with her office. The split can be a 50-50 split or even a high 90-10 split. Generally speaking, your agent would only get 1.5% of the 6% commission. But you must remember one thing in real estate everything is negotiable.
You must not set aside the thought of working with a realtor by thinking that you will have to pay her 6% to 10% in commissions. You can negotiate lower rates with her depending on the transaction, the services you need, and even the frequency of business you are giving. For instance, if you don’t need your agent’s service to host open houses, you can negotiate a lower commission. Also, if you can secure a buyer for your home directly, they won’t have to split the commission with another agent and you can bargain for an appropriate discount.
You can even work with your agents on incentives and bonuses. You only pay those out to your agent if she closes the sale within 30 days, for instance. Remember that the agents have to pay other fees like office fees, association dues, license fees, taxes, insurance, and even marketing for selling a home. So, they expect an appropriate paycheck for all the work done. Other costs agents have to take care of include making your home’s value estimate, listing your property on MLS and top websites, hosting open houses, screening buyers and buyer agents, negotiating and making contracts, and coordinating the transaction through closing.
Data suggests that most home buyers and sellers still find good value in realtors and discount real estate brokers in Florida. The issue is that almost three-fourths of home sellers hire the first agent they meet. They don’t shop around for better agents offering better deals. You must look for options and meet several top brokerages and discount real estate brokers in Florida before settling on one.
You can save about USD 7,000 in commission if you work with a discount real estate broker in Florida as compared to a traditional brokerage.
Looking for the best discount real estate brokers in the state of Florida? Find them below:
1. Houzeo
Houzeo is a real estate service provider startup that offers a combination of savings, great customer service, and amazing exposure with its cutting-edge high real estate technology and know-how. Houzeo offers its services to both homesellers and home buyers.
You can save thousands in real estate commissions with the affordable Houzeo’s flat fee MLS packages. If your buyer is not represented by an agent, you can save even more. Houzeo’s technology is cutting-edge. It is seller-centric so as to simplify the complex process of listing a home on MLS. Also, the services offered by Houzeo are 100% online making listing your home quick and easy.
You can even avail of the services of a traditional agent with Houzeo if you need any help while navigating through the home-selling process.
Houzeo helps homebuyers connect directly with a seller. If you are a homebuyer, you can explore the FSBO properties on Houzeo and make an offer directly to the homeowner without having to route it through a realtor. Houzeo offers homebuyers hi-tech tools like Closing Cost Calculator and an app to schedule their home visits. Houzeo also offers a buyer’s rebate, which can be used for the closing costs.
All in all, Houzeo offers a top combination of tech features, savings, and service in comparison with most of the affordable discount real estate brokers in Florida.
2. SimpleShowing
SimpleShowing is another good discount real estate broker in Florida that matches homesellers with real estate agents. The brokerage uses hi-technology to match sellers with local realtors and charges a small 1% listing fee against the traditional 3%. By spending an additional USD 995, SimpleShowing offers you a Self-Tour Lockbox using which verified buyers can tour your property without taking the help of an agent. You save the buyer agent commission with an unrepresented buyer.
You can also get access to its other various services like a professional photographer, listing on MLS, home valuation, etc.
SimpleShowing offers many services to homebuyers as well. Its in-person support recommends suitable properties, helps you draft up a contract, and assists you in carrying out negotiations.
Home buyers working with SimpleShowing can schedule their home showings simply using their mobile app. By hiring SimpleShowing as your buyer agent, you get half of the buyer agent commission in the form of closing cost credit, greatly reducing the amount you need to pay at closing.
Considering all expenses for services offered, SimpleShowing is not a cost-effective discount real estate brokerage.
3. ListingSpark
ListingSpark is among the top discount real estate brokers in Florida. Its specialty is its model based on the feature of pay per day. By paying a specific amount every day you can keep your house listed on the MLS and access its different features. ListingSpark also offers good services but you have to follow some manual processes to get your property listed on the MLS. The company offers strong features and many add-on service options like showings, open houses, etc. making your job as a home seller easier.
Choosing a discount real estate broker in Florida is challenging considering the many options that have cropped up recently. If you are selling your home, consider a broker offering features like fast listing speed, low listing fees, customer service, technology, services offered, and coverage before choosing a discount realtor. As a seller, you must also look for their online presence so that much of your work can be handled digitally. Considering these factors, Houzeo comes as a clear winner. It offers multiple features and benefits not available from other competitors. Houzeo is without a doubt one of the top realtors in the US.
