Is Homie the Best Way to Sell a House
Homie Review: Existent Manor Brokerage Services
Lesser line: Homie is an innovative real estate company that saves the average homeowner $ten,000 compared to traditional realtor fees.
Homie launched its innovative existent manor services in 2022 and is chop-chop becoming one of the most popular options to sell a dwelling house in Utah, Arizona, and Nevada. The real estate company charges a apartment fee for realtor services instead of a high committee, significant the average client 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 apartment fee of $iv,160 (it varies slightly by country) 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 boilerplate).
Homie price past land
| Homie listing fee | Buyer fee | |
|---|---|---|
| Utah | $2,000 | $i,500 |
| Phoenix | $2,500 | $two,000 |
| Las Vegas | $two,500 | $2,000 |
Information every bit of 8/24/2020. Based on both the buyer and seller using Homie.
Homie existent estate brokerage pricing
Homie customers save an average of $xvi,840 on a home that sells for $350,000. While traditional realtor fees toll more $20,000 (6% adds upwardly fast), Homie offers an average apartment rate of $4,160.
Homie vs. realtor pricing
| Average realtor toll | Homie | Savings | |
|---|---|---|---|
| Listing fees | $x,500 | $2,330 | $8,170 |
| Buyer fees | $ten,500 | $ane,830 | $eight,670 |
| Total fees | $21,000 | $iv,160 | $xvi,840 |
Data every bit of 8/24/2020. Based on a home that sells for $350,000, a total average realtor committee charge per unit of 6%, and both the seller and buyer using Homie.
Homie cost factors
Homie charges two flat fees for homes listed on its website. Even so, while the seller'due south fee is guaranteed, the buyer's fee depends on the buyer also using Homie. If the buyer doesn't apply Homie, sellers are responsible for a traditional realtor percentage fee—which could be a lot more expensive. No fees are paid until a dwelling sells.
Homie list fee
Realtors typically accuse clients about three% to sell—or "list"—a home. All homeowners that employ Homie'south services pay an average flat listing fee of $ii,330. For a home valued at $200,000, this equals a savings of $3,670.
Homie buyer fee
The list homeowner traditionally pays a buyer fee of nigh 3% of a dwelling house'south value. If a buyer uses Homie, they pay an average apartment fee of approximately $i,830 instead of a commission (or listing fee).
Non-Homie buyer agent commission
Sellers must pay a buyer amanuensis's commission if the buyer doesn't use Homie. In those cases, the seller negotiates the buyer agent'due south committee (typically three%).
Homie heir-apparent fee options
| Realtor | Homie (if but the seller uses Homie) | Homie (if both seller and buyer employ Homie) | |
|---|---|---|---|
| Listing fee | $x,500 | $2,330 | $2,300 |
| Heir-apparent fee | $10,500 | $10,500 | $1,830 |
| Total | $21,000 | $12,830 | $four,130 |
Information equally of 8/24/2020. Based on a home that sells for $350,000 and a full boilerplate realtor commission charge per unit of 6%.
Want to save $16K on your habitation sale?
Homie at a glance
| Visitor information | |
|---|---|
| Founding year | 2015 |
| Realtor or FSBO | Realtor |
| No. of states | 3 |
| Average customer rating | 4.three/v |
| Boilerplate customer savings | $10,000 |
| In-house financing | |
| Amanuensis paid by salary or commission | Salary |
Homie features and services
Homie offers low flat fees instead of loftier commissions
Homie'southward main feature is its all-time: there are no commission fees. Traditional real estate fees average effectually 6% of your domicile's value (the seller pays three% each to the heir-apparent's amanuensis and the seller's agent). Merely Homie offers flat fees for the seller and the buyer (if the buyer also uses Homie).
Homie has a single point of contact
Homie assigns a single realtor to your instance. That means if you see 10 homes, you piece of work with only i agent—non 10 different people. There are lots of people backside the scenes helping you go 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 all-time 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 information technology saves y'all money—and lots of it. If both the seller and the heir-apparent use Homie, the savings add up fast.
Homie vs. traditional realtor costs past home value
| Domicile value | Boilerplate realtor | Homie | Savings |
|---|---|---|---|
| $150,000 | $ix,000 | $4,160 | $4,840 |
| $250,000 | $15,000 | $iv,160 | $10,840 |
| $350,000 | $21,000 | $4,160 | $16,840 |
| $450,000 | $27,000 | $four,160 | $22,840 |
Data as of eight/24/2020. Based on a total average realtor commission rate of half-dozen%, and both the seller and buyer using Homie.
Homie provides early access to home listings
Homes are hard to observe in the current market. A listing could accept a dozen bids its commencement weekend on the marketplace, making it essential to observe the dwelling you want before others exercise. 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 ii can brand all the difference when it comes to locking down your dream home.
Want to see habitation listings before anyone else?
Homie has a network of service providers
If you lot're worried about expensive real estate fees—simply don't want to handle everything on your own—Homie's got yous covered. Homie has an in-house network of service providers to aid 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 relieve you thousands of dollars over full-service moving companies.
You won't observe services similar this if yous employ a discount brokerage or try to sell your house on your ain.
Homie doesn't accept hidden fees
When we offset started looking into Homie, nosotros were confused considering we couldn't determine how much it toll to get started. And then nosotros learned why: it doesn't price annihilation.
You pay Homie when you sell your house. That's information technology.
Homie agents don't force per unit area you
Homie's flat fees salvage you money, simply they offer another benefit: a low-pressure buying experience.
A good realtor won't make you experience pressured. Unfortunately, some realtors are but out for a commission. The more homes you look at, the less friendly they go. They want to do the least corporeality of work possible and still rake in their full commissions.
Homie avoids this pitfall from the beginning. Homie pays its realtors a regular salary instead of a commission, pregnant they don't become paid more than for selling your dwelling faster—and they don't get paid less if it takes longer. Their goal is to aid you find the perfect fit, no affair how long it takes.
FAQs virtually Homie
What kind of existent 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 Possessor (FSBO). Homie charges a flat fee instead of amanuensis commissions and saves the average customer $ten,000.
How much can you relieve on a Homie to Homie deal?
You can salvage 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 charge per unit for the heir-apparent'due south amanuensis if the buyer uses Homie.
What is Homie Loans?
Homie Loans is a Homie sister visitor that offers low-rate mortgage loans. The company guarantees it volition beat whatever competitor's locked loan estimates or pay yous $500. Its financing is available for both home purchases and refinances.
What are Homie reviews like?
Homie reviews average 4.3 out of five stars. Customers especially like its flat low rates, early admission to dwelling listings, and fantabulous customer service.
How many Homie agents do yous work with?
You work with 1 Homie agent when using the real estate visitor to buy or sell a home. As well having a single point of contact, Homie agents receive a bacon instead of commission, so there's no pressure level to purchase.
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 amanuensis commission (typically 3%). If the heir-apparent is too a Homie customer, the Homie seller pays about $i,830 (instead of a three% commission).
How much does a real estate amanuensis charge?
A existent manor agent charges approximately iii% of the selling price of your home. Because abode sellers pay the fees for both the listing amanuensis and the ownership agent, the total commission rate is nearly half dozen%.
Our recommendation
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 amanuensis to piece of work with you from start to end and charges a depression flat fee instead of a high commission. Information technology even provides early on access to home listings and lawyers to assistance with paperwork. The 1 drawback is that Homie is available in only three states: Utah, Arizona, and Nevada.
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Source: https://www.move.org/homie-review/
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