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Homie Review: Real Estate Brokerage Services
Homie launched its innovative real estate services in 2015 and is quickly becoming one of the most popular options to sell a home in Utah, Arizona, and Nevada. The real estate company charges a flat fee for realtor services instead of a high commission, meaning the average customer saves about $10,000 in realtor fees. We’ll walk you through how the company works in our Homie review.
How much does Homie cost?
Homie charges an average flat fee of $4,160 (it varies slightly by state) that isn’t due until your home sells. The fee amount includes the listing fee ($2,330 on average) and the buyer’s fee ($1,830 on average).
Homie cost by state
Homie listing fee
Data as of 8/24/2020. Based on both the buyer and seller using Homie.
Homie real estate brokerage pricing
Homie customers save an average of $16,840 on a home that sells for $350,000. While traditional realtor fees cost more than $20,000 (6% adds up fast), Homie offers an average flat rate of $4,160.
Homie vs. realtor pricing
Average realtor cost
Data as of 8/24/2020. Based on a home that sells for $350,000, a total average realtor commission rate of 6%, and both the seller and buyer using Homie.
Homie cost factors
Homie charges two flat fees for homes listed on its website. However, while the seller’s fee is guaranteed, the buyer’s fee depends on the buyer also using Homie. If the buyer doesn’t use Homie, sellers are responsible for a traditional realtor percentage fee—which could be a lot more expensive. No fees are paid until a home sells.
Homie listing fee
Realtors typically charge clients about 3% to sell—or “list”—a home. All homeowners that use Homie’s services pay an average flat listing fee of $2,330. For a home valued at $200,000, this equals a savings of $3,670.
The Homie to Homie deal is unbeatable. If both you and your buyer use Homie, you don’t pay any percentage-based commissions: just two flat rates. It can save you over $10,000.
Homie buyer fee
The listing homeowner traditionally pays a buyer fee of about 3% of a home’s value. If a buyer uses Homie, they pay an average flat fee of approximately $1,830 instead of a commission (or listing fee).
Non-Homie buyer agent commission
Sellers must pay a buyer agent’s commission if the buyer doesn’t use Homie. In those cases, the seller negotiates the buyer agent’s commission (typically 3%).
Homie buyer fee options
Homie (if only the seller uses Homie)
Homie (if both seller and buyer use Homie)
Data as of 8/24/2020. Based on a home that sells for $350,000 and a total average realtor commission rate of 6%.
Want to save $16K on your home sale?
Homie at a glance
Realtor or FSBO
No. of states
Average customer rating
Average customer savings
Agent paid by salary or commission
Homie features and services
Homie offers low flat fees instead of high commissions
Homie’s main feature is its best: there are no commission fees. Traditional real estate fees average around 6% of your home’s value (the seller pays 3% each to the buyer’s agent and the seller’s agent). But Homie offers flat fees for the seller and the buyer (if the buyer also uses Homie).
Homie Loans is a sister company that guarantees the lowest rates on home loans—or it will pay you $500.
Homie has a single point of contact
Homie assigns a single realtor to your case. That means if you see 10 homes, you work with only 1 agent—not 10 different people. There are lots of people behind the scenes helping you get the best deals, and Homie’s consolidated approach makes it feel like you’re using a traditional realtor—but paying thousands less.
Homie helps with paperwork
Homie doesn’t leave clients alone when it comes to tricky real estate paperwork. The company has a fully staffed legal team ready to help with all your paperwork. The best part? It doesn’t cost extra.
Why we recommend Homie
Homie saves you money
The biggest reason we recommend Homie for a real estate transaction is that it saves you money—and lots of it. If both the seller and the buyer use Homie, the savings add up fast.
Homie vs. traditional realtor costs by home value
Data as of 8/24/2020. Based on a total average realtor commission rate of 6%, and both the seller and buyer using Homie.
Homie provides early access to home listings
Homes are hard to find in the current market. A listing could have a dozen bids its first weekend on the market, making it essential to find the home you want before others do. Homie gives its customers access to homes sold by other Homie customers approximately 24–48 hours before they’re listed on the multiple listing service (MLS).
That extra day or two can make all the difference when it comes to locking down your dream home.
Want to see home listings before anyone else?
Homie has a network of service providers
If you're worried about expensive real estate fees—but don't want to handle everything on your own—Homie's got you covered. Homie has an in-house network of service providers to help you with everything from getting a home appraisal and cleaning the carpets to getting solar panels and doing landscaping. It even connects customers with moving services like PODS that can save you thousands of dollars over full-service moving companies.
You won’t find services like this if you use a discount brokerage or try to sell your house on your own.
Homie doesn’t have hidden fees
When we first started looking into Homie, we were confused because we couldn’t determine how much it cost to get started. Then we learned why: it doesn’t cost anything.
You pay Homie when you sell your house. That’s it.
Homie agents don’t pressure you
Homie’s flat fees save you money, but they offer another benefit: a low-pressure buying experience.
A good realtor won’t make you feel pressured. Unfortunately, some realtors are just out for a commission. The more homes you look at, the less friendly they become. They want to do the least amount of work possible and still rake in their full commissions.
Homie avoids this pitfall from the start. Homie pays its realtors a regular salary instead of a commission, meaning they don’t get paid more for selling your home faster—and they don’t get paid less if it takes longer. Their goal is to help you find the perfect fit, no matter how long it takes.
FAQs about Homie
What kind of real estate company is Homie?
Homie is an innovative real estate company that blends the best qualities of a traditional realtor, discount brokerage, and For Sale By Owner (FSBO). Homie charges a flat fee instead of agent commissions and saves the average customer $10,000.
How much can you save on a Homie to Homie deal?
You can save approximately $16,840 on a Homie to Homie deal for a $350,000 house. Homie charges a flat rate for all home sellers and offers a flat rate for the buyer’s agent if the buyer uses Homie.
What is Homie Loans?
Homie Loans is a Homie sister company that offers low-rate mortgage loans. The company guarantees it will beat any competitor’s locked loan estimates or pay you $500. Its financing is available for both home purchases and refinances.
What are Homie reviews like?
Homie reviews average 4.3 out of 5 stars. Customers especially like its flat low rates, early access to home listings, and excellent customer service.
How many Homie agents do you work with?
You work with one Homie agent when using the real estate company to buy or sell a home. Besides having a single point of contact, Homie agents receive a salary instead of commission, so there’s no pressure to buy.
What is the fee for Homie sellers?
Homie sellers pay a flat listing fee of approximately $2,330 (the fee varies by state), plus the buyer’s agent commission (typically 3%). If the buyer is also a Homie customer, the Homie seller pays about $1,830 (instead of a 3% commission).
How much does a real estate agent charge?
A real estate agent charges approximately 3% of the selling price of your home. Because home sellers pay the fees for both the listing agent and the buying agent, the total commission rate is about 6%.
Homie is a fairly new company, but it provides all the real estate bells and whistles at a rate far lower than traditional realtors. It assigns a single agent to work with you from start to finish and charges a low flat fee instead of a high commission. It even provides early access to home listings and lawyers to help with paperwork. The one drawback is that Homie is available in only three states: Utah, Arizona, and Nevada.