✍️ Editor’s take: Homie offers legit flat-fee savings — but may provide less personalized service than a traditional agent.
Homie is a discount real estate brokerage with locations in Arizona, Colorado, Idaho, Nevada, and Utah.
Selling with Homie is much cheaper than selling with a traditional agent. The company charges a flat listing fee, regardless of the home's final sale price.
The tradeoff is that Homie Agents offer no in-person support, which means you have to do quite a bit of the heavy lifting yourself.
If you're comfortable with a home sale process that's largely DIY, you can find the same level of service for a LOT less. If not, some other discount brokers offer more service at a similar price point.
What is Homie Real Estate?
Homie is a real estate brokerage with licensed agents who can help you buy or sell a home in four states: Arizona, Colorado, Nevada, and Utah.
Homie also opened a location in Idaho, which will begin accepting clients in early 2021.
There are some pretty big differences between listing with Homie and a traditional realtor. Two major ones you should be aware of are:
- Low fees: Homie advertises MUCH lower listing fees compared to selling a house the old-fashioned way
- Less service: Homie Agents don't provide ANY in-person support, and sellers have to do more of the work themselves
💰 Flat-fee MLS services offer even bigger savings
Homie is cheaper than most real estate brokers — but it offers less support too.
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: What you should know about flat-fee MLS listings
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 listing fee of $2,000-3,000 — 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 to using a traditional realtor or a discount broker that charges percentage-based fees.
Homie also offers a commission rebate for qualifying home buyers. If you're eligible, you'll get up to $2,500 back as a credit toward your closing costs.
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 startups 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. But the reality is there's only so much guidance they 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 $2,000-3,000. That means you'll pay the same fee whether your house sells for $150,000 or $1.5 million.
Your actual rate depends on your location. Here's how Homie's listing fees break down by where you're selling:
Homie listing fees
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.
You'll pay a flat buyer transaction fee that costs around the same as the listing fee.
Homie sellers pay an average of $9,500 less
Homie sellers pay an average of around $9,500 less than listing with a traditional realtor.
Here's how much less you could expect to pay in realtor commission, depending on your home's sale price:
Avg Listing Fee*
*Homie listing fees range from $2,000-3,000 depending on location.
**Compared to a 3% listing fee with a traditional realtor.
Just remember that this isn't really an apples-to-apples comparison. Yes, Homie is significantly cheaper than conventional real estate brokerages. But it also offers a lot less hands on-service.
We recommend comparing your options before listing with Homie. It may end up being a good fit, but the hands-off customer service approach isn't for everyone.
Other discount services offer alternative combinations of savings and personalized support. Depending on your location, you may be able to find better service at a comparable price.
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
4.2 (1,069 reviews)
4.9 (590 reviews)
3.2 (287 reviews)
4.7 (943 reviews)
Dedicated point of contact?
AZ, CO, ID, NV, UT
AZ, CO, NC, WA
$2,000-3,000 (varies by location)
1% or $3,000
1.5% (min fees vary by market)
$3,000 or $4,000 (depending on market)
*Average fee compared to a 3% commission at four price points: $100,000, $250,000, $500,000, $750,000.
Homie offers hard savings for DIY-inclined sellers
If hard savings are your main concern but you still want support from a dedicated agent, Homie could be a good fit.
There will be tradeoffs: your agent will have your back, but you won't meet them face-to-face.
That said, if you're confident in your ability to get your home market-ready — and comfortable hosting your own open house — Homie definitely deserves a closer look.
💰 Have you considered a DIY home sale?
If you're comfortable with Homie's hands-off approach to home-selling, you can save even more by going the DIY route.
A flat-fee MLS listing service will market your home for a few hundred dollars, and you can purchase any extra services you need a la carte.
» COMPARE: Flat-fee MLS vs. full-service realtors
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 $9,500 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.
Save thousands without sacrificing service!
Match with top agents for free, sell for just $3k or 1%.
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 a LOT less than listing with an old-school real estate brokerage.
However, Homie's website and marketing materials gloss over the tradeoffs, 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.
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 rebate of up to $2,500
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 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 offers a $2,500 refund to *qualifying* buyers
In exchange for doing more of the legwork yourself, you could be eligible for a commission rebate of up to $2,500 when you buy with Homie.
📢 Two important notes about Homie's commission rebate
To qualify for the refund, you'll need to buy with a Homie Agent AND get pre-qualified for a mortgage with Homie Loans. Note that you don't actually have to get your mortgage from Homie — just get pre-qualified.
As enticing as Homie's refund sounds, we recommend shopping around to see how its overall value stacks up. Many discount services offer commission rebates — and most of them don't come with the same built-in risks as Homie.
Additional Homie 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 to other local options.
Homie Insurance is the company's in-house insurance broker. It currently offers support for 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 little built-in upside for customers themselves.
In most cases, you'll find the best value by obtaining quotes from local companies.
Homie customer reviews
Note: the following review information is up-to-date as of 1/15/2021. We will update this section as new information becomes available.
Customer reviews of Homie are generally positive, with an average customer rating of 4.2 out of 1,069.
So what are people saying about Homie?
What customers like about Homie
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 customers DON'T like about Homie
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 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.
Homie app reviews
The Homie App has a mediocre average rating of 3.9 out of 236 total reviews on the Apple App Store and Google Play.
That's a bit concerning, considering how much of the sales and purchase process Homie manages via its online platform.
Many users believe the app has some potential. But it's clear there are still a huge number of kinks that need working out.
Conclusion: Is Homie a good option for you?
Homie is a totally legitimate real estate brokerage that has helped many people save money while buying or selling homes.
Whether it's a good option for you comes down to:
- Your personal preferences
- How much work — and additional risk — you're willing to take on
- The complexity of your situation
Homie could be right for your sale if you're comfortable with some aspects of a DIY transaction, but you still want the assurance that you can get in touch with a dedicated agent if you need additional support.
If you're looking to maximize your savings, we recommend exploring whether a flat-fee MLS listing company offers the services you need at a lower price.
However, if you value in-person support, other discount companies likely offer a better mix of savings and service.
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.
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HousingWire. "Real estate and mortgage startup Homie raises $23 million." Accessed 1/15/2021.
Deloitte. "2020 Technology Fast 500 Rankings." Accessed 1/15/2021.
CBS Denver. "Startup Denver Real Estate Company Creates Fear & Loathing." Accessed 1/15/2021.