✍️ Editor’s note: Faira Real Estate is no longer in business. This review remains for reference, but services, pricing, and availability may no longer apply. If you’re looking for active options, compare today’s top low commission realtors.
Faira was a discount real estate brokerage and technology company based in Washington State. According to PitchBook, it's no longer in business and it has no active website or online presence.[1]
It offered several low-cost listing options for home sellers, including a basic package it advertised as “free.” The company aimed to streamline the selling process with an online platform and reduced commission rates.
While the potential savings appealed to many, Faira’s approach came with trade-offs, such as limited agent availability and additional service fees. Other discount brokerages offered similar or lower prices with more comprehensive support, which may have made them a better fit for some sellers.
Faira at a glance
| Feature | Details |
|---|---|
| Price | .50-3.5% |
| Avg. seller savings | N/A* |
| Customer rating | 4.3 (139 reviews) |
| Locations | Washington State |
*Savings varied depending on the selling package selected. Information reflects Faira’s operations before it ceased business.
What was Faira Real Estate?
Faira was a discount real estate brokerage with licensed agents who helped clients buy and sell homes in Washington State. It was part of a wave of technology-focused brokerages aiming to lower consumer costs by streamlining the real estate process.
The company’s platform was designed to make buying and selling more transparent and accessible — a concept reflected in its name. While its pricing structure and online tools offered potential savings, the model also had trade-offs, such as fewer available agents and a limited property listing inventory.
Fees and pricing structure
Faira’s pricing model included a 0.5% “platform fee,” which it advertised as being paid by the buyer. However, this fee was deducted from the sale proceeds, ultimately reducing the seller’s net earnings.
The company also offered a premium service tier that, in some cases, cost as much as — or more than — working with a traditional real estate agent.
Business scale and availability
In its later years, Faira reduced its operations, closing offices and laying off staff. Its platform eventually listed only a small number of properties in Washington State.
Was Faira legitimate?
Faira was a licensed real estate brokerage that operated primarily in Washington State, with earlier expansions into California and Arizona. According to available reports, the company scaled back operations in recent years, focusing solely on Washington before ceasing business.
In its later stages, Faira’s website displayed a listing map showing hundreds of properties across the West Coast. However, most of these were previously sold homes rather than active listings (at one point, the platform had only a few homes actively for sale.) This likely limited the amount of buyer traffic sellers could expect from Faira’s own site.
How did Faira work?
Faira’s platform allowed registered users to view detailed information about each listing, including third-party inspection reports and property disclosure statements. Users could also see all current bids on properties listed through the site.
Sellers managed their listings through a property dashboard, where they could set a desired list price. Buyers could submit their maximum offers online and increase their bids with the click of a button.
Faira’s online auction-style system was influenced by co-founder and former CEO Kamal Jain, who had previously worked on business models for eBay. To access the platform, users needed to sign in with a Google, Microsoft, Yahoo, or Facebook account.
In its later years, Faira appeared to shift away from relying solely on its online tools, offering more in-person services similar to those of a traditional brokerage.
How much did Faira cost?
| Package | Fees* | Notes |
|---|---|---|
| Faira Free | 0.5% platform fee + 3% buyer’s agent commission (+1% if the offer came off‑platform) | No listing agent commission; mostly DIY service with extras like photography and signage. |
| Faira One | 1% listing fee + 0.5% platform fee + 3% buyer’s agent commission | Includes Faira Free services plus a home inspection and a dedicated agent. |
| Faira Premium | 3% listing fee + 0.5% platform fee + 3% buyer’s agent commission | Adds premium photography, a home warranty, and an in‑home consultation; often more than a traditional agent. |
* Percentages based on the final sale price; details reflect Faira’s historical pricing.
Faira offered three service tiers, each including a 0.5% “platform fee” advertised as paid by the buyer but was deducted from the seller’s proceeds. Sellers were also required to offer a 3% buyer’s agent commission, which was higher than the Washington State average.
While the advertised rates suggested savings, actual costs were often comparable to — or higher than — traditional commission rates, especially for the Premium tier.
Faira vs. top alternatives
Faira once offered discounted listing options in Washington State, but the company is no longer in business. If you’re looking for an active, low-commission brokerage, several national options provide similar — or better — savings with full service and no hidden fees.
Clever Real Estate has a 5.0-star rating from over 4,000 customer reviews. Clever pre-negotiates a 1.5% listing fee with top-performing local agents from major brokerages, so you get full service at a fraction of the traditional 3% rate. Ideal Agent also earns a 5.0-star rating, charging a flat 2% listing fee, while UpNest lets agents compete for your business, with rates that vary.
For those open to a tech-forward approach, Redfin offers a 1.5–2% fee in many markets, though its 2.7-star customer rating suggests service can vary. All four alternatives are available nationwide, making them a better choice than Faira’s now-defunct model.
Faira customer reviews
| Source | Rating | Reviews |
|---|---|---|
| 4.2 | 91 | |
| Zillow | 4.8 | 38 |
| Yelp | 3.5 | 10 |
| Weighted average | 4.3 | 139 |
Past clients left mixed feedback about Faira. Many praised the company’s lower commissions, while others reported service issues.
A Zillow reviewer from Bonney Lake, WA, described selling with the Faira One package as a “wonderful experience.”
However, some Yelp reviewers expressed dissatisfaction with communication and service levels, noting that Faira’s lower-commission packages offered less agent involvement than its higher-priced options.
Buying with Faira
Faira offered two service tiers for home buyers:
- Faira Essentials: This program was designed for buyers who had already identified a property. It included offer-writing and negotiation support through closing. Showings were not included; buyers paid $99 per showing or $399 for up to five. Essentials offered a rebate of up to 2%, depending on the home’s price and location, issued at closing.
- Faira Plus: Included a dedicated agent, unlimited showings, and offer assistance. Offered a rebate of up to 1%, depending on location and price.
Both tiers offered commission rebates, which are subject to state laws and various restrictions. Actual rebate amounts often varied, and buyers were encouraged to review the terms carefully before enrolling.
Bottom line
Faira aimed to use technology to make buying and selling real estate more transparent and affordable. While some buyers received commission rebates of up to 2%, the company’s pricing structure, additional fees, and limited market reach often reduced the potential value. Faira has since ceased operations.
If you’re looking for a low commission option today, Clever Real Estate offers full service from top-rated local agents for just 1.5% — a fraction of traditional listing fees. You’ll work with an experienced agent from a leading brokerage in your area, with no hidden costs and nationwide availability.
💡 A better alternative to Faira
Faira has ceased operations, but you can still save thousands on commission with Clever Real Estate.
- Full service from top-rated local agents
- Just 1.5% listing fee — no hidden costs
- Nationwide coverage