✍️ Editor’s take: Homie's flat fee savings are real, but most sellers can find better service, rates, and overall value with other discount companies.
Homie Real Estate is a discount brokerage with locations in Arizona, Colorado, Idaho, Nevada, and Utah.
Homie charges a flat $3,500 listing fee, regardless of your home's final sale price. It's a lot cheaper than paying a standard 3% commission to a traditional agent, especially if you have a more expensive home.
The trade-off is that Homie agents offer no in-person support to home sellers. This increases the risk of mispricing your home and other costly mistakes.
If you want to sell your house for less, other discount companies offer better service than Homie at a similar price point (or less). Shop around to find the best fit for your needs and budget!
What is Homie Real Estate?
Homie is a real estate brokerage with licensed agents who can help you buy or sell a home in five states: Arizona, Colorado, Idaho, Nevada, and Utah.
There are two main differences between listing with Homie and selling with a traditional realtor.
- Low fees: Homie advertises lower listing fees compared with selling a house the old-fashioned way.
- Less service: Homie agents don't provide ANY in-person support to sellers, so you may have to do most of the work yourself.
💰 Flat fee MLS services offer even bigger savings
Homie is cheaper than most real estate brokers — but it offers MUCH less support. If you're comfortable going the DIY route, you can save even more by using a flat fee MLS listing company and purchasing any additional services you need a la carte.
» LEARN: Find the BEST flat fee MLS listing services near you
Homie also offers mortgage, title, and home insurance services. You can access these additional services whether or not you hire a Homie agent.
Savings for home sellers — and some buyers
If you sell with Homie, you'll pay a flat $3,500 listing fee — regardless of your home's sale price.
Homie's flat fee pricing means that the more your home is worth, the more you can save compared with using a traditional realtor or a discount broker that charges percentage-based fees.
Homie also offers a home buyer rebate for qualifying purchases. If you're eligible, you could get a portion of your agent's commission back as a closing cost credit.
Who should use Homie?
✅ Homie is worth considering if…
❌ You may want to avoid Homie if…
» COMPARE: Homie vs. top alternatives
Is Homie legitimate?
Yes, Homie is a licensed real estate brokerage in each of the states it operates in.
Homie is expanding — and hopes to be a nationwide brand
Armed with upwards of $33.7 million in investor capital, Homie has begun expanding into new markets.
Since launching in Utah back in 2015, it's opened locations in four additional states as it plots nationwide expansion.
Homie also came in 25th among North American tech start-ups in Deloitte's 2020 Technology Fast 500 Rankings.
Does Homie have a reputation problem?
Like several other discount brokers we've reviewed, Homie has a complicated relationship with traditional realtors.
For example: one Phoenix-area real estate agent told us that working with Homie agents isn't particularly easy.
This is a potential red flag for customers. Homie may hope to disrupt the real estate industry. But in the meantime, it needs to build positive relationships with old-school brokerages. Otherwise, realtors may discourage buyers from looking at Homie listings.
Another discount broker, Trelora, developed such a poor reputation among other realtors that, at one point, its own CEO estimated that 40% of buyer's agents refused to show Trelora listings.
How does Homie work?
Homie is able to offer discounted rates because it has lower operating expenses than a conventional brokerage. Currently, Homie cuts costs in three main ways:
- Using its online platform and a team-based approach to handle a higher volume of customers with a smaller team
- Incentivizing Homie sellers to sell to Homie buyers
- Upselling existing customers on other Homie services
Homie offers limited agent support
Homie agents juggle a lot more clients than a typical realtor. This means they can't provide as much personalized support to each person.
📢The biggest risk of selling with Homie
Homie agents DON'T provide any in-person support for crucial steps like:
You will have a dedicated agent who you can contact for assistance throughout the stages of your sale. But they'll assist you remotely — not face-to-face.
Homie sellers handle more of the work themselves
Since Homie agents offer less hands-on support than traditional realtors, sellers have to do more of the work themselves.
In exchange for Homie's discounted rates, you'll have to take more initiative on matters like:
- Choosing a list price
- Deciding what repairs and/or updates to make before listing
- Writing your listing description
- Staging your house
- Hosting an open house
Your agent is just a phone call or email away if you need help — though some Homie reviews from former customers say their agents were extremely difficult to get in touch with, even during business hours. And the reality is there's only so much guidance an agent can give without visiting your house in person.
Homie is looking to "double-end" deals
One way Homie attempts to maximize its revenue from each sale is by incentivizing sellers to accept offers from buyers who are working with Homie agents.
This is called "dual agency" or "double-ending" a deal, and it allows Homie to collect two fees on a single transaction.
» MORE: Why dual agency is risky
Homie pushes customers toward its other services
Finally, Homie attempts to earn more revenue from each client by offering ancillary in-house products, including:
- Home loans
- Homeowners insurance
- Title services
Homie also offers a "provider marketplace" where customers can find third-party companies for services it doesn't offer. Homie collects a referral fee for sending customers to these affiliate partners.
How much does Homie cost?
Homie charges a flat listing fee of $3,500. That means you'll pay the same fee whether your house sells for $150,000 or $1.5 million.
Homie sellers pay an average of $8,500 less
Homie sellers pay an average of around $8,500 less than listing with a traditional realtor.
Here's how much less you could expect to pay in realtor commission with Homie's flat $3,500 listing fee, depending on your home's sale price:
*Compared with a 3% listing fee with a traditional realtor.
Most sellers will save money by working with Homie instead of paying the 3% listing fee at a conventional real estate brokerage.
But Homie doesn't offer much in the way of service and support — so the overall value is pretty low.
If you're okay with a real estate experience that is largely DIY, flat fee MLS companies offer a similar level of service for a fraction of the cost.
And if you want more support from your real estate agent, you can probably find another discount brokerage that costs about the same as Homie but offers a lot more hands-on service.
While finding a low rate is great, choosing the right realtor is just as important! Try to interview at least three local agents — ideally from different companies — to find the best fit for your needs and budget.
» MORE: Compare the top low commission real estate brokers near you
Don't forget about buyer's agent commission
Although Homie charges a flat listing fee, you'll still be on the hook for buyer's agent commission. This typically costs 2.5-3% of the home's selling price, but you can technically offer whatever you want.
💡 How much buyer's agent commission should I offer?
We recommend advertising a buyer's agent commission rate that's competitive in your location.
Offer too little, and buyer's agents won't be incentivized to show clients your home. Offer a fee that's way above average, and you may be overpaying.
» LEARN: What is the average real estate commission rate?
Note that if you sell to a buyer represented by a Homie agent, you won't have to pay the full buyer's agent commission.
Instead, you'll pay a flat $5,000 fee to the Homie buyer agent.
How good are Homie agents?
All Homie agents are fully licensed. And they offer many of the same services as traditional realtors.
But there are several important differences that could affect the quality of your experience.
Homie agents offer NO in-person support
The biggest difference between Homie agents and traditional realtors is that Homie agents do not provide in-person support.
If you sell with Homie, you'll be able to communicate with your dedicated agent over the phone or via email. But they don't have the bandwidth to visit your home or meet with you in person.
✍️ Editor's note
Without visiting your home to get a clear sense of its condition and unique features, your Homie agent will likely be at a disadvantage when negotiating with a buyer's agent who has toured the property.
In contrast, when you list with a traditional brokerage, your realtor will typically visit your property before you list it for sale. This helps them:
- Give you personalized advice on the home's fair market value
- Recommend repairs and other updates to increase your home's value or marketability
- Negotiate effectively
Other in-person services that traditional realtors may provide include: hosting an open house for prospective buyers and walking you through offers face-to-face to help you evaluate them.
Homie agents juggle far more clients than traditional agents
The main reason Homie agents can't provide in-person support is that they juggle way more clients than typical realtors.
Homie advertises this as a selling point: their agents close more deals, so they have more experience than other realtors.
But there are obvious downsides:
The more sales your realtor is involved in, the less personalized attention they'll be able to provide you. And they'll likely be less intimately familiar with your situation.
This reduces the chances that you'll get the best possible outcome on your sale — especially if the agent prices the home incorrectly, mishandles the negotiations, or makes mistakes handling paperwork or closing coordination.
Salaried agents have less direct incentive
Homie agents have less direct incentive to go above and beyond to ensure their clients sell their homes quickly and for the best price possible. The primary reason why is that Homie agents get paid a salary — not commission.
Traditional realtors have a clear incentive structure that encourages them to provide superior customer service. They typically work exclusively on commission. They get paid only when they close a deal.
Agents at conventional brokerages also rely on referrals from previous customers to generate future business. If a customer doesn't have a great experience, they won't recommend them to their friends and family.
The incentives are less direct at Homie. Its agents — at least the ones in the company's established markets — are full-time, salaried employees. They get paid whether your home sells or not. They also rely on Homie's corporate office for leads. They don't depend on their personal reputation and referrals from past customers.
This doesn't mean individual Homie agents won't work hard to help you sell your home. But incentives DO matter. And Homie simply doesn't provide as much direct motivation for its agents to hustle on your behalf.
How does Homie compare to top alternatives?
Avg customer rating
4.3 (1,118 reviews)
4.9 (1,512 reviews)
3.9 (416 reviews)
4.7 (1,114 reviews)
1% or $3,000
1.5% (min. fees vary)
1% (min. $3,000)
*Average fee compared with a 3% commission at four price points: $100,000, $250,000, $500,000, $750,000.
Other discount services may offer better overall value
If hands-on service is a top priority, Homie may not be the best choice for your home sale.
Unlike Homie, many other discount brokers offer full-service support — including in-person guidance. While they're not all as "cheap" as Homie, agents who offer in-person service are better positioned to help you navigate the home-selling process.
This is especially true at lower price points, where Homie might not offer huge "savings" over its full-service competition.
Remember: saving $8,500 on listing fees is great, but if an overextended agent sells your home for $20,000 below its fair market value, you’re not getting much of a deal.
Selling with Homie
👍 Biggest benefits of selling with Homie…
👎 Biggest risks of selling with Homie…
When you sell with Homie, you’ll get most of the same basic services you’d expect from a traditional realtor, including:
- MLS listing
- Professional photography
- Pricing recommendations
- Advice on negotiations, offers, etc.
But there are a few important differences you should be aware of before you list with Homie.
You'll manage your sale using Homie's online platform
As previously mentioned, the biggest difference between Homie and traditional brokerages is that Homie agents don't provide in-person support at any stage of the sales process.
Homie "guides" sellers through the sales process using an online platform and mobile app.
You'll still have a dedicated agent to represent your interests, but you may have to take more initiative and be more deliberate about advocating on your behalf.
Homie incentivizes a risky practice called dual agency
Homie offers additional savings to Homie sellers who sell to Homie buyers. This extra discount seems like a win-win, but you should be aware that it puts you in a risky situation called dual agency.
💡 What is dual agency?
Dual agency is when a single real estate agent or brokerage represents both the buyer and seller in the same transaction.
In a normal negotiation, realtors are legally bound to prioritize their client's interests and fight to get them the best deal possible. But in a dual agency scenario, the agent owes an equal duty to both parties. This means the agent must remain neutral — they can't be fully in your corner when you're negotiating.
This could increase the risk of a bad outcome, especially if you don't have much experience negotiating real estate deals.
Homie may try to upsell you on extra services
Homie sees itself as an "end-to-end" home buying and selling platform. Part of its business model relies on persuading current customers to utilize other Homie services.
In other words, it attracts customers with discounted rates, then generates extra revenue by selling them on its home loan company, title service, provider marketplace, and so on.
📢 Homie's add-on services may not offer the best value
While the idea of a “one-stop-shop” sounds convenient, it will rarely get you the best service quality or value available.
You're often better off shopping around to find a local company that specializes in the service you're looking for.
Compare your options before listing with Homie
If you sell with Homie, you could pay less than listing with an old-school real estate brokerage.
However, Homie's website and marketing materials gloss over the trade-offs, especially the services its agents DON'T offer.
Definitely interview Homie if you think it's a great fit for your situation, but make sure they provide clear answers on what support you will — and won't — get.
We recommend shopping around and comparing at least 2-3 agents from different companies. This way, you're much more likely to find the ideal mixture of service and savings for your home sale.
» MORE: The top discount brokers of 2022
Buying with Homie
Buying a house with Homie is similar to using a traditional realtor. But there are a few key advantages and drawbacks:
- You'll receive less service and support — especially when negotiating
- You may qualify for a commission rebate
Homie buyers have to take the lead in negotiating
The biggest disadvantage to buying with Homie is that when you find a house you like, it's your responsibility to prepare an offer.
Homie provides an online tool to walk you through the offer creation process. If you need help, you can contact your agent, who will also review the offer before submitting it to the seller.
✍️ Editor's note
Even with backup from your agent, preparing an offer yourself seems like a BIG risk.
Writing an offer to buy a house is significantly more complex than punching in your desired sale price and checking a box to indicate whether you're financing the purchase or paying with cash.
Purchasing a house is a high-stakes endeavor. Skilled realtors have expertise and insights into the local real estate market that the average home buyer doesn't.
You're much more likely to have a better outcome if a top buyer's agent crafts your offer from start to finish, rather than trying to handle the process yourself.
Homie buyer rebate
Like many discount brokerages, Homie offers a buyer rebate program. On qualifying purchases, you could earn up to half of your agent's commission — typically 1-1.5% of the home price — as a credit toward your closing costs.
As enticing as Homie's refund sounds, it has a lot of strings attached. To qualify, you must get your mortgage through Homie Loans, use Homie Title for closing services, and request a homeowners policy quote from Homie Insurance.
These restrictions prevent you from shopping around to find the best deal on mortgage rates and title fees. If Homie's rates aren't competitive, your true dollar-for-dollar savings could actually be much lower than you expect.
Many other companies offer commission refunds — and most of them don't come with the same restrictions as Homie. It's always a good idea to compare your options and find the best overall value for your situation.
» MORE: Which company offers the best home buyer rebate?
Homie Cash allows you to make an all-cash offer on a home — without actually having the money in your bank account.
All-cash offers are extremely attractive to sellers — they're not contingent on mortgage approval, so there's much less risk the sale will fall through.
The downside is that using Homie Cash could make your purchase a lot more expensive. Homie temporarily loans you the funds to purchase the home with cash, but you'll still need to obtain a traditional mortgage. This means you'll have two sets of closing costs, which could increase your out-of-pocket expenses by thousands of dollars.
Additional Homie Real Estate services
One of the ways Homie offsets its discounted rates is by upselling existing customers on other in-house and affiliate services, including:
- Homie Loans
- Homie Title
- Homie Insurance
- Homie Provider Marketplace
Be aware that although these "add-ons" may be convenient, they may not offer the best value or service quality.
Homie Loans offers mortgages to home buyers, as well as current homeowners looking to refinance.
The process is web-driven. Users apply for a loan, submit documents, and sign contracts using the company's online platform.
You don't have to use a Homie agent to get a mortgage with Homie. However, the company encourages buyers to use its loan service by requiring them to get pre-qualified for a Homie mortgage to receive a commission rebate.
Homie Title offers title insurance and settlement services to home buyers and sellers.
As with Homie's other products, the title service relies on software to guide customers through the process.
That may make it more convenient than using an old-school title company — just make sure you're getting a good rate compared with other local options.
Homie Insurance is the company's in-house insurance broker. It currently offers quotes for both homeowners and auto insurance policies.
Much like any other insurance broker, it will give you quotes from nationally-recognized brands like Travelers and MetLife.
Homie Provider Marketplace
Homie's provider marketplace refers existing customers to partners who offer services Homie doesn't, including: cleaning, landscaping, inspections, etc.
Homie earns a referral fee when it sends customers to its partners, but there's not much of a built-in upside for customers themselves.
In most cases, you'll find the best value by obtaining quotes from local companies.
Homie reviews from real buyers and sellers
Homie Real Estate reviews from past customers are generally positive, with an average customer rating of 4.3 out of 1,118 reviews.
So what are people saying about Homie?
What positive Homie Real Estate reviews say
The most common themes among positive Homie reviews are:
Homie was a 'great value' for my situation
Google reviewer Trent E. had a "great" experience selling with Homie.
He specifically praised Homie's value proposition, as well as the quality of the agent who oversaw his sale.
My Homie agent was 'professional' and 'knowledgeable'
Tracy A. had very positive things to say about her experience selling with Homie.
In addition to the quality of her Homie agent, she was happy with the firm's in-house title company.
What negative Homie Real Estate reviews say
The most common themes among negative Homie reviews are:
Using Homie was an 'absolute nightmare'
Nicole R. didn't mince words when she called working with Homie an "absolute nightmare."
She particularly called out that it didn't feel like her listing agent behaved professionally or appeared motivated to help her have a successful transaction.
My realtor had to 'hound' Homie repeatedly
Chris D. purchased a property listed by Homie, and he wrote in his Yelp review that he left the transaction with a very poor opinion of Homie.
He said that his agent — who doesn't work for Homie — had to "hound" the Homie agent representing the seller just to get them on the phone to discuss the transaction.
'The sellers weren't able to view a strong, over-asking-price offer'
This review comes from a traditional real estate agent who has had multiple bad experiences interacting with Homie agents.
In this particular instance, he represented a buyer who was interested in purchasing a house listed with Homie. He said that the communication from the Homie agent was so poor that his client's offer was never presented to the seller — even though it was well over the asking price!
'Our realtor was very unprofessional'
Drew O. was extremely disappointed with their experience as a seller with Homie. They said that their Homie realtor refused to answer questions and wasn't upfront about closing costs and contracts.
Communication was 'abysmal'
This person used Homie as both a buyer and seller, and they also purchased a home from someone using a Homie agent.
However, they were frustrated with the lack of communication and effort by the agents on all sides of the transaction — and felt that their listing agent was too busy to answer their questions.
Homie app reviews
The Homie App has an average rating of 4.2 out of 473 total reviews on the Apple App Store and Google Play.
Overall, users like the fact that they can browse homes, add filters, and schedule tours directly from the app. Some of the negative reviews state that the app isn't intuitive or easy to use.
Conclusion: Is Homie a good option for you?
Homie is a legitimate real estate brokerage, but its $3,500 flat fee is too expensive considering the service trade-offs you'll face as a seller.
If you want to save money without sacrificing in-person support, a full-service discount brokerage will provide better support at comparable rates.
If you're comfortable handling more of the work yourself in exchange for lower commission fees, a flat fee MLS company could give you about the same level of service as Homie at a much lower rate.
Remember, it pays to shop around! There's no obligation to move forward or commit when you’re interviewing different real estate agents or services.
You have absolutely nothing to lose and everything to gain by researching your options and comparing rates, experience, and personalities to find the perfect fit.
FAQs about Homie
Homie charges a flat fee of $3,500 for sellers to list their home. This fee stays the same regardless of the price of your house. As the seller, you're still responsible for paying a buyer's agent commission (usually around 2.5–3% of the final sale price). Make sure to compare Homie's rates against other discount services to find the best low commission brokers near you!
Monday-Friday: 9 am-7 pm MST
Saturday-Sunday: 10 am-5 pm MST
HousingWire. "Real estate and mortgage startup Homie raises $23 million." Accessed 11/9/2021.
Deloitte. "2020 Technology Fast 500 Rankings." Accessed 11/9/2021.
CBS Denver. "Startup Denver Real Estate Company Creates Fear & Loathing." Accessed 11/9/2021.