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Is a recession inevitable?

The chances of recession hitting the U.S. in the next 12 months are increasingly likely, with experts putting the odds at 65%.

"It's no secret that the U.S. is due for a recession,'' says Mike Rhoads, president of Rhoads Home Buyers. "The last one occurred over 10 years ago, and economists say that we're long overdue for another one."

But if we are poised for a recession, the full effects have yet to be realized. Fed rate hikes to slow inflation have had little to no effect. Despite consumer complaints of high prices, spending remains strong. And the hot job market is holding, but showing signs of a slowdown.

How recessions affect home prices

Recessions generally mean that there are fewer people buying homes, which in turn levels off home prices.

During the Great Recession of 2008, home prices fell by roughly 33%. But in that case, housing itself — particularly the lack of regulation around high-risk mortgage loans — was a major contributor to the recession. Given the much stricter borrowing standards in place today, that kind of drop isn't expected this time around.

"If we look at the last eight recessions, all but one (2008) resulted in housing values moving sideways or up,'' says Mike Hardy, a managing partner at Churchill Mortgage. "The Great Recession was a ‘housing-caused’ recession due to dramatic oversupply, lack of demand, horrible lending practices, and poor regulatory oversight."

"This economic climate is very different," Hardy continues, "with an undersupply of housing, significant population increase and housing need, and conservative lending practices."

After a huge run-up in prices during the pandemic housing boom, home prices have begun to come down again in some parts of the country.

"Seattle, for example, has seen home prices decline for four consecutive months — the longest streak of declines since the Great Recession," says Rhoads.

However, most analysts attribute the price decline to a lack of affordability brought on by rising interest rates.

>>THINKING ABOUT BUYING? Check out today's best mortgages

A recession will bring mortgage rates down

If potential buyers are antsy about rising interest rates, a recession will likely stop the upward climb.

"When mortgage rates are in the 7’s, studies show that only about 10% of eligible buyers (those who can afford to buy) are willing to buy and take a mortgage with that rate," says Geoff Parker, who runs www.HMOsales.com. "Recessions are deflationary by nature because of the demand destruction. This will also cause mortgage rates to come down."

Housing inventory

A sad side effect of a recession is that people will lose their jobs, causing the number of foreclosures to increase and available housing inventory to rise.

"Inventory will rise temporarily,'' says Shri Ganeshram, CEO and Founder of awning.com. "However, we are likely to see a high degree of conversions to short-term and long-term rentals by owners who can afford for the recession to pass before selling. This will put pressure on rents and Airbnbs, but only temporarily since there is a great deal of pent-up demand for both."

Julian Schwertz of eXP Realty has another perspective.

"Inventory will remain below pre-pandemic levels as homeowners choose to stay put. Roughly 85% of homeowners with a mortgage have an interest rate below 4%, and they are NOT going to trade their amazing rate for these high rates we haven’t seen in over 20 years," he says.

Rental prices

As Ganeshram says, a recession will increase the popularity of rentals and Airbnbs, increasing the cost of both.

"Rent prices are falling but will stabilize during the recession," Graneshram says. "We likely won’t see major declines as landlords are able to hold prices and large institutional buyers are more likely to hold a property for appreciation with the cash flow of a rental as an added bonus."

"Rent prices will rise at a faster pace as prospective homebuyers exit the purchase market and move into the rental market," says Schwertz.

Recession housing market opportunities

Nobody knows if or when a recession will hit. But there are ways that homeowners, home sellers, and investors alike can prepare — and even profit — during an economic turndown.

Homeowners

The seller's market has cooled considerably. Your pool of possible buyers is decreasing as the cost of borrowing money increases. And you should expect to offer some concessions to unload your property.

"Homes won’t sell quickly unless they are underpriced," Ganeshram says, "and buyers will be leveraging their negotiating power with lower offers and better terms."

The good news (sort of) is that you don’t need to spend a ton on renovations with the hope of increasing your sales price during a recession. Buyers won't be able to swing higher prices regardless.

"Home sellers haven't got much of a choice, they can only sell if there is a buyer waiting," says Parker. "What can they do to make their house more attractive if there is not a buyer?"

>> GET A FULL-SERVICE AGENT AT A 1.5% COMMISSION. Get personalized agent matches today from Semya-Moya with no obligation.

Home buyers

Between foreclosures and market corrections that a recession brings, home prices will come down, and deals will be available, Rhoads says.

Buyers will have the opportunity to negotiate their price and their terms for a change.

"They can go home after viewing a few homes and actually think about it over the weekend without being pressured to submit an offer by the end of the day," says Julian Schwertz.

>>GET THE FACTS BEFORE YOU BUY. Download Semya-Moya's free home-buying guide and get weekly tips.

But be realistic about what you can afford during a downturn.

"I bought a house at the bottom of the last recession, it was half-price from the high," says Gunner Davis, a Florida real estate agent. "I had saved enough cash to make that a possibility. So the lesson here is to have enough liquidity to survive major lack of income. The people who got in trouble last time and lost houses did not have enough cash reserves to go a month without income, let alone several months or years without income. Even a small pullback in earnings puts people into a crisis."

Investors

If you decide to purchase a property, you'll want enough cash for a large down payment to avoid high mortgage interest.

"This is why buyers and investors should prepare themselves to jump into the market during recessions,'' Davis says.

Davis suggests the right way to prepare is to start saving up money and maintaining a good credit score. That way, high interest rates won’t be as much of a concern because the more down payment you can make, the less money you have to borrow. And a good credit score qualifies you for a better mortgage rate.

Also, keep in mind that you may not be able to flip your property quickly.

"In many markets, investors are opting out of time-consuming rehabs," says Rhoads. "Without knowing where the market/interest rates are headed, many believe they could end up underwater by the end of the rehab."

Invest in rentals versus single-family homes. As you're waiting for the economy to reverse, a recession is a good time to become a landlord. As mentioned, rental units will be more in demand, increasing rental rates.

Only Nostradamus knows

"If anyone has ever made a fortune timing the real estate market, they are a very modest person because I’ve never heard of them," says Schwertz. "I think both buyers and sellers will have great opportunities knowing that those who are active in a challenging market are likely going to be more serious than the tire kickers and market testers when the market is strong."

Due diligence is key when it comes to taking advantage of any of these opportunities, says Rhoads. "Make sure you thoroughly research any property before making an offer.

"And it’s always smart to consult a real estate agent, as they can help you better to understand market trends and insights."

He adds: "With that said, if you do your homework and play your cards right, a recession can be a great time to invest in real estate."

Related articles

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In These Insanely Overpriced Markets, Homeowners May Soon Take a Hit

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The post What Would a Recession Mean for Home Buyers and Sellers in 2023? appeared first on Semya-Moya.

But buying a new home at today's prices? Not so much. The goal in real estate is to buy low and sell high, which is hard to do in this market because prices are above average everywhere.

"The trick with getting your home's value into your pocket in an environment like this one is that you'll have to buy another house sooner or later in most cases," says Martin Orefice, CEO for Rent To Own Labs, an online resource guide to find a rent-to-own home. "If you turn around and buy one immediately after selling yours, you'll be unlikely to reap much profit unless you move to an area with much lower property values."

And if your only reason for selling is to make a profit, is it worth the hassle involved in marketing your home for sale, packing up your belongings and moving somewhere else?

First thing to consider: Is it too late to cash out?

With several interest rate hikes, inflation, and the threat of recession, we asked experts to weigh in on where the housing market stands for sellers. Bottom line: It's not late, but the market is cooling. If you want to sell, don't count on prices rising much further if at all. Prices could drop in many markets.

Here's what the experts say:

• "I certainly think homeowners would be wise to take advantage of this current market momentum and housing inventory shortage, " says Ashley York, an Illinois Real Estate Designated Managing Broker and Owner of Realtopia Real Estate. "If I were a seller, I'd definitely be entertaining the thought of selling before things change, since we certainly seem to be at a market peak."
• "This current market is not the market of last year, or even last quarter," says Andy Piedra, founding partner with Sentry Residential. "It’s different and less seller-friendly."
• "The market isn't entirely favorable and the buyers possess the upper hand at present," says Jon Sanborn, co-founder of Brotherly Love Real Estate in Philadelphia. "We have also witnessed a drastic drop in property viewings. And this is just the first step in enticing prospective homebuyers."

Last week, Zillow forecasted a significant slowdown in annual home value growth from the current rate of 16% to 2.4% for the 12 months ending July 2023 – a significant update from last month’s forecast of 6.9% appreciation through June 2023.

But, location is key in real estate. According to national real estate brokerage Redfin, the housing market in Albany, N.Y., has cooled slower than any other metro area in 2022, followed by El Paso, Texas; Bridgeport, Conn.; Lake County, Illinois; and Rochester, N.Y. Five of the 10 U.S. housing markets that have cooled the fastest this year are in northern California – San Jose, Oakland, San Francisco, Sacramento and Stockton.

So, as with the weather, the temperature of the current home market varies depending on your neck of the woods. But no markets are heating up. If you DO want to sell, you'll want to get moving sooner than later.

If you decide to sell, what comes next?

Now might be the best time to sell your house, and if you decide to cash out and sell your house, then what? This next decision will determine how much of your home sale profit you'll actually keep, if any, so make sure you do the math before you sell. Your main options:

• Buy another home right away.
• Rent for a while, then buy when the market is better for buyers.
• Rent long-term.

"Renting for the short term and buying when the market goes down again can be workable for some people," says Orefice, "but it's a bit of a reach for those with kids, or those who can't find an apartment close to their jobs. It's not for everybody, but there is money to be made for people who can be flexible."

If you choose to rent, consider these factors

• Rental rates are at record highs in many places. According to Rent.com, the average rent for a two-bedroom apartment in July was $2,016. That's a year-over-year increase of 38.3%, and a 2.8% increase over June rates. The year-over-year increase for a one-bedroom rental is slightly higher at 39%, with a 4.1% increase since June.
• Also, the longer you rent, the longer you lose out on building equity, which is the major benefit that home ownership provides.
• And, if everything else stacks up and you decide to rent until home prices come down - perhaps for a few months or a year down the road – you'll be packing again soon, uprooting yourself and your family, paying for movers, and the like.

Average Rent Nationally

If you choose to buy, consider these factors

• You'll be on the opposite side of the sellers' market. You're likely to pay more than the net profit you made to purchase a similar or better home.
• Because mortgage rates have increased, you'll likely be locked into a higher interest rate (assuming a fixed-rate mortgage, which is what you want).
• Combine buying a higher-priced home and paying a higher interest rate, and you may end up paying more per month for your mortgage than you were before selling. And there goes most, if not all, of your much sought-after profit from cashing in.

"I often recommend that my sellers pick a high number they’d sell for that would be worth the short-term sacrifices, and see if they can get it," says Michael Shapot, a broker with Keller Williams NYC Real Estate. "Otherwise, stay put."

If you choose to hold onto the savings, do this

Have a plan for the proceeds of the sale of your home if you're not going to buy right away. A money market account is a great option. You'll get a reasonable rate of return, and have the ability to write checks and access your money easily.

And as with any financial windfall you receive, you'll want to know what the tax implications are. Your best bet is to consult a tax professional or financial advisor for what applies for your specific situation.

Questions to ask yourself before deciding to sell

Make sure you can answer these questions before making this big decision.

• Did you buy or refinance your home recently?

  If it's been two years or less since you purchased your home or refinanced it, you may not have enough equity to make the transaction worthwhile financially, given that there are closing costs and other expenses involved in the process of selling a home.

  Also, if you recently bought, do you really want the headache of going through another move again in such a short span of time?

• Is a move or relocation already in your future plans?

  If you're planning to move for a new job, or retiring and trying to downsize, then you should probably sell now while the market's still relatively hot. In fact, if you're retiring, selling now could give you a major financial boost, says Joshua Haley, founder of Moving Astute.

  "You could use the proceeds to pay down debt, invest in income-producing assets, or fund your retirement lifestyle," he says. "And if you downsize to a smaller home or move to a cheaper area, you could significantly reduce your living expenses."

• How stable are your finances?

  No one really knows what will happen with the housing market and economy overall. There could be a recession, which creates the possibility of layoffs, and you could lose your job.

  Is your financial situation stable enough, and do you already have enough money saved so that you would still be able to pay your new rent or mortgage, moving expenses, etc., under those circumstances?

• What quality of life are you seeking?

  Selling a home and moving is a lot of upheaval for a cash windfall, particularly if you like where you're living now. Consider how it will change your lifestyle.

  Will selling and moving take you away from family, friends and neighbors you love? Will it increase your commute time? Will it take you away from an environment that you love: being close to the beach, within walking distance to your favorite restaurant, or near a family-friendly park?

» READ: How to determine if now is the time to sell

Get advice from a real estate agent or financial advisor

You can't time the market perfectly. No one can. But the experts in your particular city or town are on a better footing to advise you accurately.

Get a real sense of how much you could realistically make selling your home. Then factor in the other variables – financial and emotional – to see if the move is worth it.

Do what feels right for you

The decision to sell a home is personal, and there's no one-size-fits-all answer. But, if you're considering selling your home only to make money, you probably shouldn't do it.

"Most homeowners should not sell their home simply to cash in on higher real estate prices,'' says Chuck Vander Stelt, a real estate agent and founder of Quadwalls.com in Valparaiso, Indiana.

"In most instances the cash windfall is not meaningful enough to then pay rent, move in with family, or buy another home in what is still a high-priced real estate market."

"I advise my clients to consider if the financial return is worth the upheaval of their personal lives, and if the income received would balance out the incurred stress and agitation of selling and moving," says Shapot.

"Profiting on your home is a good thing, but your greater comfort and overall happiness is what matters most."

» READ: How to find a real estate agent

Related Articles

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As the Housing Market Cools, Realtors See These 3 Unfortunate Mistakes

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The post Should You Cash Out While Home Prices Are Sky-High? How to Decide appeared first on Semya-Moya.

New York has over 60,000 realtors and dozens of real estate companies to choose from. Whether you're buying or selling a house, finding the right service can be daunting.

Our team of experts has found the top real estate companies in New York to help you find the best service for your situation:

• Best for saving money
• Best for a fast sale
• Best for finding top agents
• Best by transaction volume

Best for saving money: Discount brokers

Discount brokers charge a reduced commission to home sellers and often provide home buyers with cash back or credits at closing. These companies are a great option if you don't want to break the bank to buy or sell your home but still want to work with a real estate agent.

Other services, like Semya-Moya, can match you with a full-service agent and help you save money at the same time by pre-negotiating lower fees.

Semya-Moya

Get Started

💲 Listing Fee

1.5% (min. $3,000)

💰 Avg. Savings

$5,625

⭐ Avg. Customer Rating

5/5 (2,735 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service. Try Clever for free — save thousands on commission.

• Clever offers a free, nationwide agent-matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX.
• You get multiple agent matches so you can interview, compare marketing plans, and choose the best fit.
• Clever pre-negotiates low rates on your behalf — you get full service for a low 1.5% listing fee.
• If you buy with Clever, you could get cash back after closing.

• You may not get matched with an agent from your preferred real estate brokerage.
• Agents may not provide premium services like drone photography and professional home staging.

Clever has a 5.0 out of 5 rating on Trustpilot, based on 2,589 reviews.

Read reviews from real Clever customers.

Clever has pre-negotiated low commission rates with top agents in all 50 states and Washington, DC.

Redfin

Full Review

💲 Listing Fee

1.5% (min. fees vary)

💰 Avg. Savings

$5,550

⭐ Avg. Customer Rating

2.9/5 (331 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

Redfin offers real savings and is a proven brand. But sellers could compromise on service — especially agent experience and availability.

Read the full Redfin review.

• If you buy and sell with Redfin, you'll get a 0.5% listing fee discount.
• Redfin gives its listings premium placement in its popular home search app.

• If finding the right agent is a top priority, you'll have limited options — Redfin only has a few agents in each of its markets.
• Redfin agents handle more customers at once than the average realtor, so they may not be able to provide as much personalized service.

Redfin has a 2.9 out of 5 rating (331 reviews) across popular review sites like Google and Yelp.

Read reviews from real Redfin customers here.

Redfin is available in 80+ U.S. markets (see all locations).

Ideal Agent

💲 Listing Fee

2% ($3k minimum fee)

💰 Buyer Savings

None

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

Ideal Agent can match you with a local realtor who sells a lot of homes. But although it pre-negotiates discounted listing fees, you can save twice as much with competitors like Clever.

• Agents in network must meet strict quality standards
• Pre-negotiated listing fees of 2% (or $3k for homes under $150,000)

• 2% listing fee is less than the national average, but it's not the best rate out there
• No built-in savings for buyers
• Only matches you with a single agent

As of 3/28/2023, Ideal Agent has an average customer rating of 4.9, based on 6,254 reviews across Google and Trustpilot.

Prevu Real Estate

Full Review

💲 Listing Fee

1.5% (min. fees vary)

💰 Avg. Savings

$2,450

⭐ Avg. Customer Rating

5.0/5 (465 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

Prevu offers solid commission savings for buyers and sellers. But at certain price points, other discount brands may offer better value.

Read the full Prevu review.

• Prevu's 1.5% listing fee saves sellers an average of $2,450 compared to a standard 3% commission rate.
• Eligible buyers get a commission rebate worth up to 2% of the home price.

• High minimum fees may limit your savings if you're selling a lower-priced home.
• Prevu has a small team, which limits your options if you don't hit it off with the first agent it sends you.

Prevu has a 5.0 out of 5 rating (465 reviews) across popular review sites like Google and Yelp.

Read reviews from real Yelp customers here.

Prevu is available in the following areas: CA, CO, CT, MA, NY, PA, TX, WA.

Sell Now Homebuyers

Website

Phone Number

(914) 559-2579

Time to Offer

24 hours

Time to Sale

21 days

Why We Chose It

Details

Locations

Reviews

We picked Sell Now Homebuyers because it's a local buyer with excellent reviews on Google.

Sell Now Homebuyers is a group of local, New York property investors that buys homes for cash in the New York tri-state area. To sell your home to Sell Now Homebuyers, expect to:

• Fill out their online form with home details
• Set up a call to discuss your offer, and accept or decline immediately
• Close in less than a month

Sell Now Homebuyers primarily operates in:

• New York City
• Hudson Valley
• New Jersey
• Connecticut
• And more - check the website for a complete list of locations.

Sell Now Homebuyers received an average of 4.9 stars from 31 customer reviews.

Google: 4.9 stars/36 reviews
Facebook: 1 star/1 review

Best for a fast sale: iBuyers and cash buyers

In New York, the median selling time for a home is 95 days. But if you need to sell your home quickly — in two weeks or less! — there are companies in New York that will make a cash offer and close on your timeline.

iBuyers pay almost as much as you'd get on the open market, and you won't have to spend time or money preparing, listing, and marketing your home. In some cases, you can move out when you want, even after closing.

» FIND: The Best 6 iBuyer Companies Ranked & Reviewed

The downside is that iBuyers usually only purchase houses that are in good condition and require minimal repairs. If you're trying to sell a distressed property, you're better off working with a cash buyer. In New York, those companies include Fair Offer NY, Express Homebuyers, and Sell Now Homebuyers.

To make a profit in New York, We Buy Houses for Cash companies make offers well under fair market value — about 30% less. On a $250,000 home, that means you'd lose out on around $75,000. But you'll pay for the convenience.

» FIND: 5 New York We Buy Houses for Cash Companies & Alternatives

A cash buyer might be your only option if you need to unload a property that's in bad shape and may not even qualify for traditional financing when a new buyer comes along.

Opendoor

Full review

Service fee

5%

Closing date window

14–60 days

Average rating

4.2 (3,419 reviews)

✍ Editor's take

Pros and cons

Locations

Reviews

Contact

Opendoor is a good option for home sellers who need a fast, predictable sale with minimal hassle. While the price that Opendoor pays might be slightly below the value of comparable homes on the open market, the difference might be worth it for people who value convenience and speed.

Pros

• The 5% service fee is lower than some competitors.
• Many customer reviews rate the company highly.

Cons

• Offer prices may vary by market.
• You have a limited ability to negotiate.
• Buyers may find Opendoor's repairs insufficient.

Opendoor is currently purchasing homes in 47 locations, including:

• AZ: Phoenix, Tucson
• CA: Los Angeles, Riverside, Sacramento, San Diego
• CO: Denver
• FL: Jacksonville, Orlando, Tampa
• GA: Atlanta
• MN: Minneapolis–St. Paul
• NV: Las Vegas
• NC: Asheville, Charlotte, Raleigh-Durham
• OR: Portland
• TN: Nashville
• TX: Austin, Dallas–Fort Worth, Houston, San Antonio
• UT: Salt Lake City

As of 8/7/2023, Opendoor's weighted average is 4.2 based on 3,419 reviews.

• Reviews.io: 4.4 (3078 reviews)
• Better Business Bureau: 1.57 (180 reviews)

• Website: opendoor.com
• Phone: (888) 352-7075
• Email: contact@opendoor.com

Fair Offer NY

Website

Phone Number

(347) 685-9317

Time to Offer

24 hours

Time to Sale

7 days

Why We Chose It

Details

Locations

Reviews

We picked Fair Offer NY as one of our top New York "we buy houses" companies due to its strong customer reviews.

Fair Offer NY is a local, New York property investor that buys homes for cash in select cities across the state. To sell your home to Fair Offer NY you can:

• Reach out over the phone or through their online form to schedule an appointment
• Receive your cash offer at your appointment
• Close on your own schedule, as soon or late as is convenient

Fair Offer NY primarily buys homes in NYC, Westchester, Rockland, Putnam County & Long Island.

Fair Offer NY received an average of 5 stars from 10 customer reviews. It's not accredited by the Better Business Bureau but it has an A+ rating.

Google: 5 stars/7 reviews
Facebook: 5 stars/3 reviews

Express Homebuyers

Website

Phone Number

877-804-5252

Time to Offer

7 minutes

Time to Sale

7 days

Why we chose it

Details

Locations

Reviews

Express Homebuyers is really fast: it provides offers in just minutes and can close in just a week in many circumstances. Plus, the company has mostly positive reviews on Google.

Express Homebuyers is a national service that has partnered with local investors across the country to buy houses for cash.

Steps to sell with Express Homebuyers:

1. Submit your home's information to receive an initial "as is" offer
2. Meet with the local investor to assess your property and answer any questions
3. Discuss the local investor's final cash offer and, if you're willing to sell, sign a sales agreement then and there
4. Choose a closing day on your schedule
5. Show up on the day of the sale to sign the paperwork and receive cash within hours

Express Homebuyers has partnered with local investors in the following states:

Alabama	Louisiana	Ohio
Arizona	Maryland	Oklahoma
California	Massachusetts	Oregon
Colorado	Michigan	Pennsylvania
Delaware	Minnesota	South Carolina
Florida	Missouri	Tennessee
Georgia	Nebraska	Texas
Hawaii	Nevada	Utah
Illinois	New Jersey	Virginia
Indiana	New Mexico	Washington
Kansas	New York	Wisconsin
Kentucky	North Carolina

Express Home Buyers received an average of 3.7 stars from 261 customer reviews. It's accredited by the Better Business Bureau, and it has a B+ rating.

Google: 4.2 stars/122 reviews
Facebook: 4.6 stars/113 reviews
Yelp: 2.5 stars/26 reviews

Sell Now Homebuyers

Website

Phone Number

(914) 559-2579

Time to Offer

24 hours

Time to Sale

21 days

Why We Chose It

Details

Locations

Reviews

We picked Sell Now Homebuyers because it's a local buyer with excellent reviews on Google.

Sell Now Homebuyers is a group of local, New York property investors that buys homes for cash in the New York tri-state area. To sell your home to Sell Now Homebuyers, expect to:

• Fill out their online form with home details
• Set up a call to discuss your offer, and accept or decline immediately
• Close in less than a month

Sell Now Homebuyers primarily operates in:

• New York City
• Hudson Valley
• New Jersey
• Connecticut
• And more - check the website for a complete list of locations.

Sell Now Homebuyers received an average of 4.9 stars from 31 customer reviews.

Google: 4.9 stars/36 reviews
Facebook: 1 star/1 review

We Buy Ugly Houses

Full review

Time to offer

Varies

Minimum closing time

3 weeks

Closing costs

No cost for seller

✍️ Editor's take

Pros and cons

Locations

Reviews

Contact

We Buy Ugly Houses has a better reputation than most individual cash buyers, but your experience can vary based on the quality of the local franchise. While We Buy Ugly Houses can close in as little as three weeks, it pays far less than fair market value.

Pros

• Trusted, nationally recognized brand
• No need to worry about repairs
• Close in just three weeks

Cons

• Quality of service may vary between franchises
• Pays far less than fair market value

We Buy Ugly Houses has over 800 independently owned and operated franchises across 47 states and Washington, DC.

As of October 2022, We Buy Ugly Houses's parent company, Homevestors, has an A+ rating on the Better Business Bureau. No other third-party reviews are available at this time.

This rating is based on overall national data. Research local franchises for specific reviews that reflect their quality of service.

• Website: webuyuglyhouses.com
• Phone: (866) 288-9516

Best for finding top agents: Agent-matching services

If you want to work with a realtor, agent-matching services can help you find top agents in your area quickly. They are free to use and provide a pre-vetted local agent from well known brokerages like Coldwell Banker and REMAX.

Some agent-matching services provide names of several agents that you can interview until you find one that you feel comfortable with. Others, like Semya-Moya and Upnest, even help you get a reduced commission so you can work with a full-service agent without paying full price.

Clever is our top pick in New York because with a listing fee of just $3,000 (or 1.5% if your home sells for more than $350,000) you'll save the most money.

Semya-Moya

Full Review

💲 Listing Fee

1.50%

💰 Buyer Savings

Up to $500 cash back

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service.

Learn how Clever helps you find the perfect agent and save thousands

• Free, nationwide agent-matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX
• Provides multiple agent matches so you can interview, compare marketing plans, and choose the best fit
• Pre-negotiates low rates on your behalf — you get full service for 1.5% with a $3,000 minimum
• If you buy with Clever, you may get up to $500 cash back if you qualify

• You may not get matched with an agent from your preferred real estate brokerage.
• Like other agent matching services, Clever may have fewer agents in rural areas.
• Agents may not provide premium services like drone photography and professional home staging.

As of 11/6/2023, Clever has an average customer rating of 5.0 on Trustpilot, based on 2,589 reviews.

Read reviews from real Clever customers here.

UpNest

💲 Listing Fee

Varies

💰 Buyer Savings

Varies

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

UpNest has agents compete for your business, which often results in you getting a discounted rate. But savings aren't guaranteed and you will usually find a better rate with competitors like Clever.

• Agents compete for customers, which often results in slightly discounted rates
• Customer dashboard is easy to use and provides lots of each information about each agent

• Savings are not guaranteed and are often only a little better than the national average
• Agent quality and coverage varies, with smaller markets having fewer options than big cities

As of 10/13/2023, UpNest has an average customer rating of 4.6, based on 6,641 reviews across Better Business Bureau, Google, Facebook, and Shopper Approved.

Ideal Agent

💲 Listing Fee

2% ($3k minimum fee)

💰 Buyer Savings

None

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

Ideal Agent can match you with a local realtor who sells a lot of homes. But although it pre-negotiates discounted listing fees, you can save twice as much with competitors like Clever.

• Agents in network must meet strict quality standards
• Pre-negotiated listing fees of 2% (or $3k for homes under $150,000)

• 2% listing fee is less than the national average, but it's not the best rate out there
• No built-in savings for buyers
• Only matches you with a single agent

As of 3/28/2023, Ideal Agent has an average customer rating of 4.9, based on 6,254 reviews across Google and Trustpilot.

Best by transaction volume

A more objective metric to measure the best real estate companies in New York is the total dollar value (or transaction volume) of all deals that passed through a local real estate brokerage.

This data doesn't necessarily tell you which company in the state offers the best customer experience — just who's earning the most business.

Below are the top real estate teams in New York based on total transaction volume and team size (small, medium, or large).

🏆 Best small teams

🏆 Best medium teams

🏆 Best large teams

Fast facts about real estate in New York

FAQs about the best real estate companies in New York

Methodology

Our New York real estate company categories and rankings are based on hundreds of hours of collective research by Clever's editorial team. Our research included:

• Interviews with local real estate agents
• Mystery shopping real estate companies to learn more about how their services work
• Comparing each company based on categories like fees, overall customer satisfaction, and additional services

Transaction volume data for brokerages in New York was sourced from RealTrends' state rankings.

Related links

How Much Does it Cost to Sell a House in New York? (2023 Updates!)

It costs $42,217 to sell a house in New York on average! Use our cost of selling a house calculator to see how much you'll pay when you sell your home.

Buying a House in New York in 8 Easy Steps

From saving for a down payment to reaching the closing table, learn how to navigate the key steps to buying a house in New York.

The Best Low Commission Realtors (2023 Broker Rankings)

Find the best low commission real estate agents and brokers, so you can sell with a full-service realtor and save thousands on commission fees!

The post Top Real Estate Companies in New York appeared first on Semya-Moya.

First-time home buyers in Michigan can access many great programs to get a variety of help:

• Loans for down payment assistance and closing costs
• Mortgages with favorable terms and competitive loan rates
• Federal tax credits
• Home buyer education classes

The state offers programs through the Michigan State Housing Development Authority (MSHDA). Some larger cities, like Detroit, Warren, and Grand Rapids, and counties like Wayne County (home of Detroit), have programs to assist first-time home buyers in their respective areas. Federal government programs are available to assist as well.

» JUMP: What are first-time home buyer programs in Michigan?

What are first-time home buyer requirements in Michigan?

Finances | Credit score | Debt-to-income (DTI) ratio | Residency

A first-time home buyer in Michigan is someone who has never purchased a home as their principal residence, or hasn't owned a home in the last three years.

According to the U.S. Department of Housing and Urban Development (HUD), here are some other people who can be first-time home buyers:

• An individual who has never owned a principal residence, even if their spouse was a homeowner
• Any single parent who owned a home with their ex-spouse
• A displaced homemaker who only owned property with their spouse

Michigan State Housing Development Authority (MSHDA) programs are available to all first-time home buyers, as long as the property you want to purchase is within Michigan.

First-time home buyers in Michigan can also qualify for federal programs available from HUD, the Federal Housing Administration (FHA), the Veterans Administration (VA), and the U.S. Department of Agriculture (USDA).

What shape do my finances need to be in?

Most first-time home-buyer programs have minimum financial qualifications that you'll need to meet, including a minimum credit score and maximum total debt-to-income ratio (DTI).

For MSHDA programs, 640 is the minimum credit score required. For its MI Flex Loan, it's 660.

The maximum DTI for MSHDA programs is 45%. FHA loans can allow a DTI as high as 57% under certain conditions. Conventional loans, which aren't backed by the government, typically require a DTI below 36%.

You’ll also need enough income to afford your monthly mortgage payments. And you’ll likely need to have money saved to make a down payment on the home, and later to address home maintenance issues.

Income maximums for Michigan programs

Under the MSHDA program, the maximum household income allowed is $139,720 (in Livingston County).

Income to qualify for MSHDA programs varies depending on the number of people in the household and whether the area where the home purchase takes place is a "targeted" or "non-targeted" property area. The federal government has designated certain areas as "targeted areas'' to attract homeowners.

For targeted cities in Wayne County — Dearborn, Detroit, Ecorse, Hamtramck, Highland Park, Inkster, Lincoln Park, River Rouge, and Taylor — the income maximum for a family of three or more is $112,000. The remainder of Wayne County, which is non-targeted, has a maximum of $92,000.

For targeted areas in Livingston County, the maximum income for a family of three or more is $139,720. For non-targeted areas in Livingston county, the maximum income for that household size income is $114,770.

Here's a county by county breakdown of MSHDA income maximums.

Purchase price maximums for MSHDA programs

The home purchase price cap for all MSHDA programs is $224,500. Although it's not a financial qualification, it's good to know how much house you can buy under this program.

What credit score does a first-time home buyer need?

The minimum credit score allowed for Michigan State Housing Development Authority (MSHDA) programs is 640. For its MI Flex Loan, it's 660.

The minimum credit score required for federal government programs from HUD, the FHA, and VA is 580. The minimum score for the USDA program is 620. If your credit score is below the minimum, learn how you can fix your credit score in six months.

What debt-to-income ratio (DTI) does a first-time home buyer generally need?

For MSHDA programs, the maximum total DTI is 45%. FHA loans can allow DTIs as high as 57% under certain conditions. Conventional loans, which aren't backed by the government, typically require a DTI of 36%.

Residency requirements

Although you don't have to be a current resident of Michigan to qualify for MSHDA's programs, you do have to live in the home being purchased.

Individual Michigan counties and municipalities will likely require you to purchase homes within their boundaries.

Federal programs offered by HUD, USDA, and VA are for all home buyers, regardless of where they live or decide to purchase.

What are first-time home buyer programs in Michigan?

Michigan offers first-time home buyers:

• Down payment and closing cost assistance
• Lower mortgage interest rates
• Mortgage credit certificates (MCCs)

The Michigan State Housing Development Authority (MSHDA) requires that home buyers complete educational courses to qualify for down payment and closing assistance.

With so many different home buyer programs out there, it might be hard to choose which one is best for you. However, an experienced real estate agent can help you sort through your options.

» FIND: Top Real Estate Agents in Michigan (2022 Rankings)

For a quick comparison of options, refer to the table below.

First-time home buyer program comparisons

If you're looking to buy in smaller counties and cities in Michigan, check with those local governments or see HUD’s list of alternative home buyer assistance programs in Michigan.

What are first-time home buyer grant programs in Michigan?

MSHDA doesn't offer assistance in the form of a grant. But several city and county governments in Michigan do have grant programs for home buyers.

Grand Rapids Homebuyer Assistance Fund offers grants up to $7,500 for low- and moderate-income home buyers. Income maximums to qualify are $44,800–84,500, depending on size of household. These limits are updated annually.

Home buyers must be pre-approved for a mortgage from a participating lender. You must be 18 years old and agree to occupy the home — located within Grand Rapids city limits — as your primary residence for at least five years.

You also have to complete an approved home-buyer education course — costing between $25–150 — from one of three education providers:

• Greenpath Financial Wellness
• Inner City Christian Federation (ICCF)
• Michigan State University Extension

City of Warren Direct Homebuyer Assistance Program provides a forgivable loan secured by a second mortgage on the home. After you close on your home, the loan payments are deferred and entirely forgiven in five years.

Warren's assistance program is for low- or moderate-income home buyers with a maximum income between $42,750–80,600 (depending on the number of people in the household) purchasing city-owned properties.

The total amount of assistance cannot exceed $14,000 for each eligible household. Eligible households must have an annual gross household income at or below 80% of the area median income (AMI), adjusted for household size.

You must repay the loan before five years if you don't:

• Keep the property (i.e., you sell the home with five years)
• Use the property as a primary residence
• Maintain the property in a reasonable condition.
• Make property tax payments
• Make payments on other loans secured by the property
• Insure the property against loss

What are first-time home buyer down payment and closing cost assistance programs in Michigan?

MSHDA offers two loan programs that provide down payment and closing cost assistance for first-time home buyers: the MI DPA Loan and the MI 10K DPA Loan.

Buyers must complete a home-buyer education class for both programs. Liquid or cash assets of the home buyers' household can't be over $20,000.

County and local government programs

Wayne County HOME Investment Partnerships Program offers an interest-free, deferred-payment loan that's due once you sell the property.

First-time home buyers can get a loan of $5,000 for an existing home or $10,000 for a newly constructed home. It's for use in 37 participating eligible communities in the county.

To be eligible you must complete homeownership counseling classes, which Wayne County offers through the non-profit National Faith Homebuyers Program.

Detroit Home Restoration and Acquisition Program (HRAP) provides down payment assistance up to $15,000 for the purchase of a home in Hardest Hit Priority Neighborhoods. Detroit public school employees may qualify for up to $20,000.

If you purchase a home from the Detroit Land Bank's auction, you have 24 hours to put 10% down on your winning bid. You'll then have 60–90 days to close and six months to make any necessary repairs.

HRAP assistance is meant to bridge the gap between the cost of repairs to a home that needs renovations and its appraised value. A low appraisal means most lenders will offer less.

Once renovations are complete, the HRAP loan converts to a permanent mortgage based on the home's final value.

You must complete a home buyer's education program sponsored by a HUD-certified housing counseling agency. Here are three local agencies:

• U-Snap Bac
• Southwest Economic Solutions
• Central Detroit Christian

Grand Rapids Homebuyer Assistance Fund and the City of Warren Direct Homebuyer Assistance Program also have down payment and closing costs programs. See details in the first-time home buyer programs comparison table above.

What are first-time mortgage assistance programs in Michigan?

MSHDA's MI Home Loan Mortgage and MI Home Loan Flex Mortgage offer 30-year, fixed-rate mortgages with market or below interest rates. They require a minimum down payment of 3% of the purchase price, and you must contribute at least 1% out of pocket toward the loan amount.

The federal government and some cities and county governments in Michigan offer loans with favorable terms to first-time home buyers as well.

Michigan government mortgage assistance program

This MSHDA loan program is available to first-time home buyers statewide. All home buyers must work directly with a participating lender.

Household income limits apply and can vary depending on family size and property location. Purchase price limit for a home is $224,500 statewide.

MI Home Loan Mortgage is available to first-time home buyers. Minimum credit score required is 640. It's 660 for multiple-section manufactured homes.

MI Home Loan Flex Mortgage is available to first-time and repeat home buyers. The minimum credit score required is 660. Only one adult in the household needs to apply. Outstanding debts don't necessarily need to be paid off for consideration.

Local government programs

Detroit Home Restoration and Acquisition Program (HRAP) mortgage loan allows a home buyer to finance acquisition and repairs to their home.

You must meet these standards to qualify:

• Occupy the home as a primary residence
• Purchase home in Hardest Hit Priority Neighborhoods in Detroit

This nontraditional mortgage offers home buyers the opportunity to buy a home with a low down payment and flexible underwriting.

The mortgage is an interest-only loan during the repair period and converted to a permanent mortgage based on the final value of the home once repairs are completed.

What are first-time home buyer tax credit programs in Michigan?

The MSHDA mortgage credit certificate (MCC) federal tax credit program lets home buyers credit 20% of their annual mortgage interest against their tax liability. This credit can be claimed every year for the life of the original mortgage. It's available to first-time home buyers statewide.

A tax credit is a dollar-for-dollar reduction in tax liability.

As is the case for all MSHDA loan programs, household income limits can vary depending on family size and property location.

What assistance is available for first-time home buyers in Michigan with low income?

Who qualifies as a low-income home buyer in Michigan?

A low-income home buyer has income less than or equal to 80% of the area median income (AMI) for their specific area.

As an example, for the Detroit-Warren-Livonia metropolitan area, 80% AMI for a two-person household was $62,800 in 2020. For Wayne County, 80% AMI for a two-person household was $51,200 in 2021.

Look up the AMI for the area you want to buy in to see if you qualify as a low-income home buyer.

State programs for first-time buyers with low income

The Michigan State Housing Development Authority (MSHDA) offers ways for low-income families to save money during the home-buying process:

• Down payment and closing cost assistance
• Favorable mortgage rates
• Mortgage credit certificates (MCC) for tax credits
• Income maximums for Michigan programs so that lower income buyers are given preference

City- and county-level programs for first-time home buyers with low income

Warren's Direct Homebuyer Assistance Program is targeted to low- to middle-income home buyers purchasing city-owned properties in Warren with maximum income between $42,750–80,600, depending on the number of people in the home buyer's household.

Federal programs for first-time home buyers with low income

Fannie Mae’s Home Ready program and Freddie Mac’s Home Possible program both offer mortgages where home buyers can put as little as 3% down. The programs cancel private mortgage insurance (PMI) once the home buyer achieves at least 20% equity in the home.

The U.S. Department of Agriculture offers USDA Direct loans for low-income applicants in rural areas. And the U.S. Department of Veterans Affairs offers favorable mortgages for veterans, active service members, and spouses. Both programs have no down payment requirement and no PMI charge.

What assistance is available for first-time home buyers in Michigan with disabilities?

According to the Americans with Disabilities Act (ADA), a disability is a physical or mental impairment that substantially limits a major life activity.

State programs for first-time home buyers with disabilities

No Michigan-specific programs exist at this time, though some great programs at the national level can assist first-time home buyers with disabilities.

The U.S. Department of Housing and Urban Development's (HUD) Housing Choice Voucher (HCV) program allows qualified buyers to use vouchers to buy a home and receive monthly assistance for homeownership expenses.

The U.S. Department of Agriculture (USDA) helps people with disabilities in rural communities achieve homeownership by guaranteeing mortgages made by community banks through its Single-Family Housing Guaranteed Loan Program.

Learn more about national resources for disabled first-time home buyers.

What's the process of buying a house for the first time in Michigan?

As a first-time home buyer, you should know the programs that can assist you financially in purchasing a home in Michigan. But buying a home is a complex process. As a newbie, where do you start?

Step 1: Evaluate your financial situation

Address your credit score and existing debt-to-income (DTI) ratio to determine the first-time home buyers assistance programs for which you qualify.

Look at your savings with an eye toward what you might expect to spend on your down payment, closing costs, monthly payments, and maintenance costs for a new home. The median price of a home in Michigan is $226,000. For most loans you'll need a down payment of between 3%–20% of the property's price. That means you would need $6,780-45,200 for your down payment.

In Michigan, homeowners typically spend $2,065 on maintenance costs annually, but this can vary widely based on the house. In general, you should save 1% of the house's value each year for repairs.

Step 2: Choose the right neighborhood

The neighborhood you live in impacts everything from your daily commute, to where your kids go to school, to where you go out for dinner (or order takeout!).

Fortunately, Michigan has a variety of communities to suit your needs. There’s the resurgence of Detroit. It's one of the largest cities in the Midwest, and it has affordable home prices — the average is well below $100,000.

Then there's the allure of its many college towns like Ann Arbor (home to University of Michigan), Ypsilanti (Eastern Michigan University), and Grand Rapids (home to about 15 colleges and universities), and fun, artsy cities like Kalamazoo.

Home values vary quite a bit in Michigan, so you'll want to look at the average home prices for the city or neighborhood you’re interested in to see if you can afford to live there.

Step 3: Find a great real estate agent in Michigan

A good, local real estate agent will be your trusted ally during the home-buying process. They can help make sure everything runs as smoothly as possible.

Make sure your real estate agent has experience in your price range and neighborhood of choice, as well as high ratings and reviews online from happy clients.

Step 4: Get pre-approved for a mortgage

Most sellers won't show you their home unless you have a mortgage pre-approval letter. They don't want to waste their time with buyers who aren't serious or financially ready to put in an offer. And you don't want to waste your time falling in love with a home you can’t afford.

When shopping for a mortgage, compare interest rates and narrow down your choice of lenders based on terms they have to offer.

Once you're pre-approved for a mortgage, make sure your credit and financial situation doesn't change:

• Avoid opening new credit accounts.
• Don't close any accounts that have been open for a long time.
• Make all of your credit card payments on time.

Step 5: Start house hunting in Michigan

This can be the fun part of home buying! But be prepared. Make sure you have a handle on what are "must haves" for your home vs. "nice to haves."

Depending on the time of year, you may have fewer home options to choose from. In Michigan, fewer homes are for sale in the winter months, due in part to the harsh winter weather at that time. You'll have more choices in the spring months of April, May, and June.

Step 6: Make offers

Once you find a house you love, make an offer and convince the seller to sell to you.

You’ll want to move quickly — particularly from July to October, when inventory is historically at its lowest and buyers snap up homes fast.

You’ll want to work with a real estate agent who knows how to write a strong offer letter for the area you’re buying in.

Step 7: Inspections and appraisals

Once a seller accepts your offer, follow a series of due diligence steps to ensure the home you’re buying is exactly what you signed up for.

Make sure you have a licensed inspector check the home's key components:

• Electrical system
• Foundation
• HVAC system
• Plumbing
• Roof

Aside from a general inspection, Michigan also recommends buyers have the following inspections and testing done before closing on a home:

• Radon testing: It's not required by law, but Michigan strongly recommends buyers test homes for radon. If the seller hasn't had the house's radon levels tested recently, consider having it tested before closing on the home.
• Termite inspection: Pest inspections are mandatory in 25 Michigan counties. Northern areas of the state are typically less likely to experience termite infestations. But your safest bet is to get the inspection regardless of location. It's better to be safe than sorry.

After inspections and appraisals, you'll have a chance to go back to the negotiating table if something unexpected pops up and possibly get a price reduction if warranted.

Step 8: Final walkthrough and closing

Though not legally required in Michigan, you should seriously consider having a real estate attorney to at least review the home purchase contract and attend the closing to make sure you understand the heaps of paperwork you'll be signing!

Your agent can recommend an attorney, but know the final decision is yours. Interview lawyers before hiring them to make sure they have the experience you need. Your agent or attorney should explain every document before closing, but still ask any remaining questions you have before signing.

Do a final walkthrough of the property to ensure it's still in the expected condition. Stay focused so you don't miss anything. Bring your checklist of items that needed to be addressed from the inspection. And bring a trusted friend or family member with you, plus your real estate agent.

» DETAILS: 8 Steps to buying a house in Michigan

FAQs for first-time home buyers in Michigan

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First-time Home Buyer Guide for Illinois

First-time home buyers in Illinois can get a lot of assistance, including loans and even free money in the form of grants. Here's how.

The post First-time Home Buyer Guide for Michigan appeared first on Semya-Moya.

Illinois offers lots of programs with significant financial benefits for first-time home buyers, including:

• Down payment assistance with low- or no-down payment options
• Grants or loans for closing costs
• Loan rates at or below traditional market rates
• First-time home buyer education classes

» JUMP: What are first-time home buyer programs in Illinois?

The state offers programs through the Illinois Housing Development Authority (IHDA). Some larger cities, like Chicago and Aurora, and counties like Cook (home of Chicago), Lake, and Kane have programs to assist first-time home buyers in their respective areas as well.

What are first-time home buyer requirements in Illinois?

First-time home buyer definition | Income levels | Credit score | Debt-to-income (DTI) ratio Residency

First-time home buyer definition

A first-time home buyer in Illinois is someone who has never purchased a home as their principal residence.

According to the U.S. Department of Housing and Urban Development (HUD) first-time home buyers also include:

• Anyone who hasn't owned a principal residence in three years
• An individual who has never owned a principal residence, even if their spouse was a homeowner.
• A single parent who owned a home with their ex-spouse.
• A displaced homemaker who only owned property with their spouse.

The Illinois Housing Development Authority’s (IHDA) home buyer programs are available to both first-time and repeat home buyers. Anyone can apply as long as the property they're purchasing is in Illinois.

First-time home buyers in Illinois can also qualify for federal programs available from HUD, the Federal Housing Administration (FHA), the Veterans Administration (VA), and the U.S. Department of Agriculture (USDA). Some conventional loan programs offered through Fannie Mae and Freddie Mac also have features that appeal to first-time home buyers in Illinois.

What shape do my finances need to be in?

Most first-time home buyer assistance programs have some minimum financial qualifications that buyers need to meet.

You’ll need enough income to afford your monthly mortgage payments, regardless of which program you use. And you’ll likely need to have some money saved to make a down payment on the home (several programs require a minimum of at least $1,000), and later to address home maintenance issues.

Income maximums for Illinois programs

Under the IHDA program, buyers in the largest counties in Illinois — Cook, Dupage, Lake, Kane, McHenry, and Will — can have a maximum income of $111,840 in non-targeted areas.

Income to qualify for IHDA programs vary depending on whether the area where the home purchase takes place is a "targeted" or "non-targeted" property area. The federal government has designated certain areas as "targeted areas'' to attract homeowners.

Income to qualify for IHDA programs also depends on the county you want to buy a home in and whether or not the home qualifies for a Mortgage Tax Credit Certificate (MCC).

Although it’s not a financial qualification, some programs have maximum home purchase price thresholds as well. The maximum is no more than $332,235 for non-targeted areas in Illinois largest counties.

See table of all counties, with targeted and non-targeted areas outlined, in this income and purchase price table.

What credit score does a first-time home buyer need?

Financial qualifications for IHDA programs

You’ll need a minimum credit score of 640.

Financial qualification for federal programs

The minimum credit score required for federal government programs from HUD, the FHA, USDA, and VA is 580. If your credit score is below 580, learn how you can fix your credit score in six months.

What debt-to-income (DTI) ratio does a first-time home buyer need?

For all IHDA loan types, the maximum total debt-to-income ratio is 45%.

FHA loans can allow DTIs as high as 57% under certain conditions. Conventional loans, which are not backed by the government, typically require a DTI below 36%.

How to determine your DTI

To calculate your DTI, add all of your recurring monthly debt payments, plus your estimated mortgage payment, and divide it by your gross monthly income (before taxes).

Residency requirements

The IHDA's programs are specifically for Illinois residents looking to purchase a home in the state.

Requirements for individual Illinois counties and municipalities should be checked with those local programs.

Federal programs offered by HUD, the USDA, and the VA are for all home buyers, regardless of where they live or decide to purchase.

What are first-time government home buyer programs in Illinois?

Illinois offers first-time home buyers loans, grants, lower interest rate mortgages, and educational workshops to assist in making their purchase though the Illinois Housing Development Authority (IHDA).

When you add in programs sponsored by various local and county governments in Illinois, and federal government programs and national programs that service Illinois and beyond, you are likely to find a program that can make your dreams of owning your first home in Illinois a reality.

With so many different home buyer programs out there, it might be hard to choose which one is best for you. An experienced real estate agent can help you sort through your options. For a quick comparison, refer to the table below.

First-time home buyer program comparisons

If you're looking to buy in an area outside of the larger counties and cities in Illinois, check with those local governments or see HUD’s list of alternative home buyer assistance programs in Illinois.

What are first-time down payment and home closing cost assistance programs in Illinois?

The Illinois Housing Development Authority’s (IHDA) offers three specific programs that provide down payment and closing cost assistance for first-time home buyers: IHDAccess Forgivable Loan, IHDAccess Deferred Loan, and IHDAccess Repayable Loan.

IHDA’s programs are available for all mortgage types, including FHA, VA, and USDA loans. These programs are available to first-time and repeat home buyers statewide.

HUD counseling programs offer closing cost grants after completion of some of their home buyer education programs. In Chicago, the National Housing Services of Chicago (NHS), a HUD-approved housing counseling agency, offers workshops that provide certificates for down payment assistance/closing cost grants. The cost varies from free to $150.

Chicago and some other municipalities offer assistance programs as well.

Down payment and closing cost assistance comparison

What are first-time mortgage assistance programs in Illinois?

The Illinois Housing Development Authority (IHDA) has loans for first-time buyers in Illinois. Some conventional mortgages and government loan programs offered by localities and counties in Illinois can offer loans with favorable terms to first-time home buyers as well.

Illinois government programs (IHDA)

The three IHDA home buyer loan programs — IHDAccess Forgiven, IHDAccess Deferred, and IHDAccess Repayable — all offer 30-year, fixed-rate mortgages with market or below interest rates. They require a minimum of $1,000 to contribute to down payment (or 1% of the purchase price, whichever is greater).

City- and county-level programs

Chicago

The City of Chicago and Neighborhood Housing Services, through its partner Neighborhood Lending Services (NLS), provides first- and second-mortgage loans for the purchase — or purchase and rehab — of one- to four-unit buildings.

The NLS program targets potential home buyers who might otherwise not be able to purchase a home in Chicago or south suburban Cook County. Down payments as low as 3% are okay, and qualifying isn't based solely on your credit score.

If you’re interested in purchasing a property to renovate, an NLS-assigned construction specialist can guide you through the rehab process. The program allows you to buy a home and roll the mortgage and cost of repairs into one loan.

Lake County

Lake County’s Community Partners for Affordable Housing (CPAH) program serves people looking to purchase a home in Lake County, Illinois’ third-largest county.

Home buyers must:

• Qualify for financing with a CPAH-participating lender
• Earn no more than 80% of area median income (AMI), adjusted for household size — for a two-adult household, the maximum income is $59,650.

The eligible property must be:

• A one-unit single-family home, attached or detached
• Valued at no more than $242,250
• Located in Lake County

Federal government loans

Mortgage loans backed by the government — Federal Housing Authority (FHA), Veterans’ Administration (VA) and U.S. Department of Agriculture (USDA) — are available to first-time home buyers in Illinois. See table for details on each of these programs.

2024 Conventional 97% LTV (Loan-to-Value)

Fannie Mae’s Home Ready and Freddie Mac’s Home Possible Mortgage target low to moderate income home buyers. Both require only 3% down payment, a borrower’s annual income must be less than or equal to 80% local AMI, and PMI is canceled once your LTV reaches 80%.

What are first-time home buyer tax credit programs in Illinois?

The Mortgage Credit Certificate program run by the state of Illinois was suspended June 17, 2020, but there are local programs.

The TaxSmart Mortgage Credit Certificate (MCC) — administered by Chicago’s Department of Housing — allows qualified home buyers to claim a federal tax credit for a portion of their annual mortgage interest.

Here's what you should know about the TaxSmart MCC tax credit:

• It's a dollar-for-dollar reduction against federal tax liability.
• Currently you can deduct 25% of your home purchase cost, or 50% of your home improvement or renovation loan, from your tax bill annually.
• The annual savings is capped at $2,000.
• It may be claimed each year the home buyer continues to live in a home financed under this program.
• Home buyers must apply for the MCC when obtaining the mortgage loan. After closing, home buyers cannot obtain an MCC.

Other local communities in Illinois may offer MCC programs. Contact the housing department of the community you’re interested in buying in for details.

What are first-time home buyer grant programs in Illinois?

While Illinois has no explicit first-time home buyer grant programs, it does have a loan that functions as a grant.

The IHDAccess Forgivable Loan doesn't have to be repaid if you live in your home for at least 10 years. The loan provides up to 4% of the purchase price up to $6,000 in assistance for down payment and closing costs.

IHDA offered a limited-time grant in 2019 called the IHDA Advantage Subsidy program, but it's no longer available.

In Chicago and the suburbs of Cook County, Neighborhood Housing Services of Chicago offers home buyers educational workshops. Once you get your certificate of completion, you can take it to certain lenders to qualify for down payment assistance and closing cost grants from $3,000 to $10,000. These certificates are valid for one year from the date of completion.

What assistance is available for first-time home buyers with low income?

Illinois Housing Development Authority (IHDA) programs can benefit low- to moderate-income home buyers, because you need to be below certain income and property price thresholds to qualify. Assistance with down payment and closing cost assistance as well as favorable mortgage rates also allow these first-time, low-income home buyers to save money on their home purchase.

Many federal programs offer zero down payment, low- interest rate mortgage loans, or relaxed credit score requirements make first-time home buyer purchases easier for those with low or very low income:

• Fannie Mae’s Home Ready program
• Freddie Mac’s Home Possible program
• USDA Direct loans (specifically designed for low-income applicants in rural areas)
• Veterans Affairs (for veterans, active service members, and spouses)

The IHDA Smart Buy Mortgage Program, created to help low- and moderate-income home buyers who are paying off student loans, ended May 21, 2021.

Who qualifies as a low-income buyer in Illinois?

To be considered low-income in Illinois, your income will have to be less than or equal to 80% of Fannie Mae's area median income (AMI) for your specific area.

For Chicago, 80% of AMI for a two-person household is $59,650. Households in Cook County have a median annual income of $69,429 — 80% of that is $55,543.

You can look up your AMI to see at what income level you qualify.

What assistance is available for first-time home buyers with disabilities in Illinois?

No current Illinois-specific programs exist at this time, though there are some great programs at the national level to assist first-time home buyers with disabilities.

What's the process of buying a house for the first time?

As a first-time home buyer, you definitely want to know the programs that can assist you financially in purchasing a home in Illinois. But buying a home is a complex process. As a newbie, where do you start?

Step 1: Evaluate your financial situation

Address your credit score and existing debt-to-income ratio (DTI) to determine the first-time home buyers assistance programs for which you qualify.

Look at your savings with an eye toward what you might expect to spend on your down payment, closing costs, monthly payments, and maintenance costs for a new home. See the average costs for buying a median priced home in Illinois.

In Illinois, homeowners typically spend $2,265 on maintenance costs annually, but this can vary widely based on the house. In general, you should save 1% of the house's value each year for repairs.

Step 2: Choose the right neighborhood

The neighborhood you live in will impact everything from your daily commute, to where your kids go to school, to where you go out to eat (or order takeout!).

Fortunately, in Illinois you can surely find a place that fits your needs! There’s everything from trendy and up-and-coming neighborhoods like Wicker Park, Roscoe Village, Pilsen, or Jackson Park (home of the future Obama Presidential Library) in Chicago, to a college town like Champaign (home to the University of Illinois), to far southern Harrisburg, a town near the Shawnee National Forest.

Of course, since home values vary quite a bit in Illinois, you'll want to look at the average home prices for the neighborhood you’re interested in to see if you can afford to live there.

Step 3: Find a great real estate agent in Illinois

A good local real estate agent will be your trusted ally during the home-buying process. They can help make sure your home-buying process runs as smoothly as possible. Make sure your real estate agent has experience in your price range and neighborhood of choice, as well as high ratings and reviews online from happy clients.

Step 4: Get pre-approved for a mortgage

Most sellers won't show you their home unless you have a mortgage pre-approval letter. They don't want to waste their time with buyers who aren't serious or financially ready to put in an offer. And you don't want to waste your time falling in love with a home you can’t afford.

When shopping for a mortgage, compare interest rates and narrow down your choice of lenders based on terms they have to offer.

Once you're pre-approved for a mortgage, make sure your credit and financial situation doesn't change:

• Avoid opening new credit accounts.
• Don't close any accounts that have been open for a long time.
• Make all of your credit card payments on time.

Step 5: Start house hunting in Illinois

This can be the fun part of home buying! But be prepared. Make sure you have a handle on what are must haves for your home versus nice to haves.

Depending on the time of year, you may have fewer home options to choose from. December, January, and February tend to be slow for home sales in Illinois, while August, September, and October are usually the busiest months.

Step 6: Make offers

Once you find a house you love, you’ll want to make an offer and convince the seller to sell to you. You’ll want to move quickly, particularly in July or August in Illinois, when inventory is at its lowest and buyers snap up homes fast.

You’ll want to work with a real estate agent who knows how to write a strong offer letter for the area you’re buying in.

Step 7: Inspections and appraisals

Once a seller accepts your offer, follow a series of due diligence steps to ensure the home you’re buying is exactly what you signed up for.

Aside from a general inspection, Illinois also recommends buyers have the following inspections and testing done before closing on a home:

• Radon testing: While it's not required by law, Illinois strongly recommends buyers test homes for radon. If the seller hasn't had the house's radon levels tested recently, consider having it tested before closing on the home.
• Termite inspection: If you're applying for a VA or FHA loan, you'll most likely be required to have a termite and pest inspection in Illinois.

After inspections and appraisals, you'll have a chance to go back to the negotiating table if something unexpected pops up and possibly get a price reduction if warranted.

Step 8: Final walkthrough and closing

Though not legally required in Illinois, it's customary for a real estate attorney to at least review the home purchase contract. And an attorney typically attends the closing to make sure the buyer understands the paperwork they're signing.

Your agent can recommend an attorney, but the final decision is yours. Interview lawyers before hiring them to make sure they have the experience you need. Your agent (or your lawyer) should explain every document before closing (there will be a ton!), but still ask any remaining questions you have before signing.

Do a final walkthrough of the property to ensure it's still in the expected condition. Stay focused so you don't miss anything. Bring your checklist of items that needed to be addressed from the inspection. And bring a trusted friend or family member with you, plus your real estate agent.

» DETAILS: 8 Steps to Buying a House in Illinois

FAQs for the first-time home buyer in Illinois

Related stories

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8 Steps to Buying a House in Illinois

From saving for a down payment to reaching the closing table, learn how to navigate the key steps to buying a house in Illinois.

The post First-time Home Buyer Guide for Illinois appeared first on Semya-Moya.

There are over 133,000 real estate agents in Texas and dozens of real estate companies to choose from. Whether you're buying or selling a house, finding the right service can be daunting.

Our team of experts has found the top real estate companies in Texas to help you find the best service for your situation, including:

• Best for saving money
• Best for a fast sale
• Best for finding top agents
• Best by transaction volume

Best for saving money: discount brokers

Discount brokers charge a reduced commission to home sellers and often provide home buyers with cash back or credits at closing. These companies are a great option if you don't want to break the bank to buy or sell your home, but still want to work with a real estate agent.

Other services, like Semya-Moya, can match you with a full service agent and help you save money at the same time by pre-negotiating lower fees.

Semya-Moya

Get Started

💲 Listing Fee

1.5% (min. $3,000)

💰 Avg. Savings

$5,625

⭐ Avg. Customer Rating

5/5 (2,735 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service. Try Clever for free — save thousands on commission.

• Clever offers a free, nationwide agent-matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX.
• You get multiple agent matches so you can interview, compare marketing plans, and choose the best fit.
• Clever pre-negotiates low rates on your behalf — you get full service for a low 1.5% listing fee.
• If you buy with Clever, you could get cash back after closing.

• You may not get matched with an agent from your preferred real estate brokerage.
• Agents may not provide premium services like drone photography and professional home staging.

Clever has a 5.0 out of 5 rating on Trustpilot, based on 2,589 reviews.

Read reviews from real Clever customers.

Clever has pre-negotiated low commission rates with top agents in all 50 states and Washington, DC.

Redfin

Full Review

💲 Listing Fee

1.5% (min. fees vary)

💰 Avg. Savings

$5,550

⭐ Avg. Customer Rating

2.9/5 (331 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

Redfin offers real savings and is a proven brand. But sellers could compromise on service — especially agent experience and availability.

Read the full Redfin review.

• If you buy and sell with Redfin, you'll get a 0.5% listing fee discount.
• Redfin gives its listings premium placement in its popular home search app.

• If finding the right agent is a top priority, you'll have limited options — Redfin only has a few agents in each of its markets.
• Redfin agents handle more customers at once than the average realtor, so they may not be able to provide as much personalized service.

Redfin has a 2.9 out of 5 rating (331 reviews) across popular review sites like Google and Yelp.

Read reviews from real Redfin customers here.

Redfin is available in 80+ U.S. markets (see all locations).

SimpleShowing

Full Review

💲 Listing Fee

1% (min. $3,500)

💰 Avg. Savings

$6,375

⭐ Avg. Customer Rating

5.0/5 (336 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

SimpleShowing’s commission savings are solid — but you may compromise on agent selection and hands-on service.

Read the full SimpleShowing review.

• SimpleShowing is one of the only true 1% commission companies.
• It also offers one of the largest home buyer rebates of any low-fee brokerage.

• You have very few options when it comes to selecting your agent.
• Agents handle more customers than the average realtor, which could impact service quality.

SimpleShowing has a 5.0 out of 5 rating (336 reviews) across popular review sites like Google, Trustpilot, and Zillow.

Read reviews from real SimpleShowing customers here.

SimpleShowing is available in the following areas: FL, GA, TX.

Ideal Agent

💲 Listing Fee

2% ($3k minimum fee)

💰 Buyer Savings

None

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

Ideal Agent can match you with a local realtor who sells a lot of homes. But although it pre-negotiates discounted listing fees, you can save twice as much with competitors like Clever.

• Agents in network must meet strict quality standards
• Pre-negotiated listing fees of 2% (or $3k for homes under $150,000)

• 2% listing fee is less than the national average, but it's not the best rate out there
• No built-in savings for buyers
• Only matches you with a single agent

As of 3/28/2023, Ideal Agent has an average customer rating of 4.9, based on 6,254 reviews across Google and Trustpilot.

Assist-2-Sell

💲 Listing Fee

$2,995-8,995

💰 Avg. Savings

$6,500

⭐ Avg. Customer Rating

No online reviews

✍️ Editor's Take

Pros

Cons

Assist-2-Sell's service and pricing vary by location, but generally it offers poor value for sellers.

Read the full Assist-2-Sell review.

• Higher-value homes may be able to get significant savings with a flat fee.

• Prices are inconsistent but generally higher than the competition.
• Some customers complain about poor service and support.

Best for a fast sale: iBuyers and cash buyers

In Texas, the median selling time for a home is 66 days but if you need to sell your home quickly (in two weeks or less!), there are companies in Texas that will make a cash offer and close on your timeline.

iBuyers (companies like Offerpad and Opendoor) pay almost as much as you'd get on the open market, and you won't have to spend time or money preparing, listing, and marketing your home. And in some cases, you can move out when you want, even after closing. The downside is that their purchase criteria is usually limited to houses that are in good condition and require minimal repairs.

If you're trying to sell a distressed property, you're better off working with a cash buyer company in Texas like We Buy Ugly Houses, Express Homebuyers or Texan Home Buyers.

But you'll pay for the convenience. To make a profit, We Buy Houses companies in Texas make offers that are well under fair market value — as much as 50% less. Worst case scenario: on a $250,000 home, you'd lose out on up to $125,000.

A cash buyer might be your only option if you need to unload a property that's in bad shape and may not even qualify for traditional financing when a new buyer comes along.

Offerpad

Full review

Service fee

6%

Closing date window

8–60 days

Average rating

4 (2,656 reviews)

✍ Editor's take

Pros and cons

Locations

Reviews

Contact

Offerpad promises the certainty of a cash offer and a fast closing on a date you choose. Of all the iBuyers, Offerpad has the most flexibility when it comes to closing (8–60 days) and is liked by customers for its personalized customer service and perks like a free local move.

Pros

• There's a longer closing window compared to competitors.
• The late checkout option gives sellers up to three days to move out after closing.
• You can access additional services, such as free local moves within 50 miles.

Cons

• There's a 1% cancellation fee if you back out of the sale.
• It's not as widely available as competitors like Opendoor.

Offerpad is currently purchasing homes in 25 locations, including:

• AL: Birmingham
• AZ: Phoenix, Tucson
• CA: Riverside, Sacramento, San Bernardino
• CO: Colorado Springs, Denver, Fort Collins
• FL: Jacksonville, Orlando, Tampa
• GA: Atlanta
• IN: Fort Wayne, Indianapolis
• KS: Kansas City
• MO: Kansas City, St. Louis
• NV: Las Vegas
• NC: Charlotte (+ neighboring parts of SC), Raleigh
• OH: Columbus
• SC: Columbia
• TN: Nashville
• TX: Austin, Dallas-Fort Worth, Houston, San Antonio

As of 8/7/2023, Offerpad's average customer rating is 4 based on 2,656 reviews.

• Review.io: 2.1 (21 reviews)
• Better Business Bureau: A+ | 4.18 (262 reviews)

• Website: offerpad.com
• Phone: (844) 388-4539
• Email (sellers): info@offerpad.com
• Email (buyers): buyers@offerpad.com

Opendoor

Full review

Service fee

5%

Closing date window

14–60 days

Average rating

4.2 (3,419 reviews)

✍ Editor's take

Pros and cons

Locations

Reviews

Contact

Opendoor is a good option for home sellers who need a fast, predictable sale with minimal hassle. While the price that Opendoor pays might be slightly below the value of comparable homes on the open market, the difference might be worth it for people who value convenience and speed.

Pros

• The 5% service fee is lower than some competitors.
• Many customer reviews rate the company highly.

Cons

• Offer prices may vary by market.
• You have a limited ability to negotiate.
• Buyers may find Opendoor's repairs insufficient.

Opendoor is currently purchasing homes in 47 locations, including:

• AZ: Phoenix, Tucson
• CA: Los Angeles, Riverside, Sacramento, San Diego
• CO: Denver
• FL: Jacksonville, Orlando, Tampa
• GA: Atlanta
• MN: Minneapolis–St. Paul
• NV: Las Vegas
• NC: Asheville, Charlotte, Raleigh-Durham
• OR: Portland
• TN: Nashville
• TX: Austin, Dallas–Fort Worth, Houston, San Antonio
• UT: Salt Lake City

As of 8/7/2023, Opendoor's weighted average is 4.2 based on 3,419 reviews.

• Reviews.io: 4.4 (3078 reviews)
• Better Business Bureau: 1.57 (180 reviews)

• Website: opendoor.com
• Phone: (888) 352-7075
• Email: contact@opendoor.com

RedfinNow (No longer available)

Full Review

Service Fee

5–13%

Closing Date Window

10–30 days

Average Rating

Not available

❗Note

Pros & Cons

Locations

Reviews

Contact

In November, 2022, Redfin announced that its home-buying service, RedfinNow, would be shut down. If you're still looking for an iBuyer, check out our list of top iBuyers.

Pros

• Expanded presence in cities across California, including several not served by other iBuyers
• Large and trusted corporate brand
• Older homes (built after 1930) are eligible in select cities

Cons

• Relatively expensive services fees (up to 13% of the offer price)
• Relatively limited flexibility on closing window, compared to competitors

RedfinNow is currently purchasing homes in 31 locations, including

• AZ: Phoenix
• CA: Inland Empire, Los Angeles, Orange County, Palm Springs, Sacramento, San Diego, San Francisco
• CO: Denver
• TX: Austin, Dallas, Houston, San Antonio
• WA: Seattle

As of 10/21/2022, RedfinNow's weighted average is 2.5 based on 7 reviews.

• Trustpilot: 2.5 | {ibuyers.redfinnow.trustpilot_count} reviews

• Website: www.redfin.com/
• Phone: (951) 229-0511
• Email: redfinnow@redfin.com

Express Homebuyers

Website

Phone Number

877-804-5252

Time to Offer

7 minutes

Time to Sale

7 days

Why we chose it

Details

Locations

Reviews

Express Homebuyers is really fast: it provides offers in just minutes and can close in just a week in many circumstances. Plus, the company has mostly positive reviews on Google.

Express Homebuyers is a national service that has partnered with local investors across the country to buy houses for cash.

Steps to sell with Express Homebuyers:

1. Submit your home's information to receive an initial "as is" offer
2. Meet with the local investor to assess your property and answer any questions
3. Discuss the local investor's final cash offer and, if you're willing to sell, sign a sales agreement then and there
4. Choose a closing day on your schedule
5. Show up on the day of the sale to sign the paperwork and receive cash within hours

Express Homebuyers has partnered with local investors in the following states:

Alabama	Louisiana	Ohio
Arizona	Maryland	Oklahoma
California	Massachusetts	Oregon
Colorado	Michigan	Pennsylvania
Delaware	Minnesota	South Carolina
Florida	Missouri	Tennessee
Georgia	Nebraska	Texas
Hawaii	Nevada	Utah
Illinois	New Jersey	Virginia
Indiana	New Mexico	Washington
Kansas	New York	Wisconsin
Kentucky	North Carolina

Express Home Buyers received an average of 3.7 stars from 261 customer reviews. It's accredited by the Better Business Bureau, and it has a B+ rating.

Google: 4.2 stars/122 reviews
Facebook: 4.6 stars/113 reviews
Yelp: 2.5 stars/26 reviews

Texan Home Buyers

Website

Phone Number

(713) 321-2888

Time to Offer

24 hours

Time to Sale

7 days

Why we chose it

Details

Locations

Reviews

As a local buyer, Texan Home Buyers has its pulse on the market in the cities it operates in. The company can close on your home in just a week.

Texan Home Buyers is a local, Texas property investor that buys homes for cash in select cities across the state. To sell your home to Texas Home Buyer you can:

• Submit information about your property online or by phone and set up an appointment for an investor to see your home
• Show your home to the investor and receive a no-obligation offer
• Set a closing date on your own schedule as soon as 7 days after accepting the offer

Texas Home Buyer purchases homes throughout the state of Texas.

Texan Home Buyers received an average of 2.6 stars from 6 customer reviews.

Google: 1 star/1 review
Facebook: 4.2 stars/5 reviews

Best for finding top agents: agent matching services

If you want to work with a real estate agent, agent matching services can help you find top agents in your area quickly. They are free to use, and provide a pre-vetted local agent from well known brokerages like RE/MAX Keller-Williams, and the like. Some provide names of several agents that you can interview until you find one that you feel comfortable with.

Some agent matching services, like Semya-Moya and Upnest, even help you get a reduced commission so you can work with a full service agent without paying full price.

Clever is our top pick in Texas because with a listing fee of just 1.5% you'll save the most money.

Semya-Moya

Full Review

💲 Listing Fee

1.50%

💰 Buyer Savings

Up to $500 cash back

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service.

Learn how Clever helps you find the perfect agent and save thousands

• Free, nationwide agent-matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX
• Provides multiple agent matches so you can interview, compare marketing plans, and choose the best fit
• Pre-negotiates low rates on your behalf — you get full service for 1.5% with a $3,000 minimum
• If you buy with Clever, you may get up to $500 cash back if you qualify

• You may not get matched with an agent from your preferred real estate brokerage.
• Like other agent matching services, Clever may have fewer agents in rural areas.
• Agents may not provide premium services like drone photography and professional home staging.

As of 11/6/2023, Clever has an average customer rating of 5.0 on Trustpilot, based on 2,589 reviews.

Read reviews from real Clever customers here.

UpNest

💲 Listing Fee

Varies

💰 Buyer Savings

Varies

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

UpNest has agents compete for your business, which often results in you getting a discounted rate. But savings aren't guaranteed and you will usually find a better rate with competitors like Clever.

• Agents compete for customers, which often results in slightly discounted rates
• Customer dashboard is easy to use and provides lots of each information about each agent

• Savings are not guaranteed and are often only a little better than the national average
• Agent quality and coverage varies, with smaller markets having fewer options than big cities

As of 10/13/2023, UpNest has an average customer rating of 4.6, based on 6,641 reviews across Better Business Bureau, Google, Facebook, and Shopper Approved.

Ideal Agent

💲 Listing Fee

2% ($3k minimum fee)

💰 Buyer Savings

None

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

Ideal Agent can match you with a local realtor who sells a lot of homes. But although it pre-negotiates discounted listing fees, you can save twice as much with competitors like Clever.

• Agents in network must meet strict quality standards
• Pre-negotiated listing fees of 2% (or $3k for homes under $150,000)

• 2% listing fee is less than the national average, but it's not the best rate out there
• No built-in savings for buyers
• Only matches you with a single agent

As of 3/28/2023, Ideal Agent has an average customer rating of 4.9, based on 6,254 reviews across Google and Trustpilot.

Best by transaction volume

A more objective metric to measure the best real estate companies in Texas is the total dollar value (or transaction volume) of all deals that passed through a local real estate brokerage.

This data doesn't necessarily tell you which company in the state offers the best customer experience — just who's earning the most business.

Below are the top real estate teams in Texas based on total transaction volume and team size (small, medium, or large).

🏆 Best small teams

🏆 Best medium teams

🏆 Best large teams

Fast facts about real estate in Texas

FAQs about the best real estate companies in Texas

Methodology

Our Texas real estate company categories and rankings are based on hundreds of hours of collective research by Clever's editorial team. Our research included:

• Interviews with local real estate agents
• Mystery shopping real estate companies to learn more about how their services work
• Comparing each company based on categories like fees, overall customer satisfaction, and additional services

Transaction volume data for brokerages in Texas was sourced from RealTrends state rankings.

Related links

Average Cost to Sell a House in Texas

It costs texas to sell a house in Texas on average! Use our cost of selling a house calculator to see how much you'll pay when you sell your home.

Buying a House in Texas in 8 Easy Steps

From saving for a down payment to reaching the closing table, learn how to navigate the key steps to buying a house in Texas.

The Best Low Commission Realtors (2023 Broker Rankings)

Find the best low commission real estate agents and brokers, so you can sell with a full-service realtor and save thousands on commission fees!

The post The Top Real Estate Companies in Texas (2022) appeared first on Semya-Moya.

A

Adjustable-rate mortgage

An adjustable-rate mortgage (ARM) is a mortgage with an interest rate that goes up or down based on market conditions. There's usually a cap on how high the interest rate can go.

While a fixed-rate mortgage never changes its interest rate, one upside to an ARM is that its initial rate is typically lower than a fixed-rate one.

Appraisal

A home appraisal is a professional estimate of your home's value, usually based on a physical evaluation and the recent sales price of comparable homes in the same neighborhood. Most mortgage lenders require an appraisal to decide on a reasonable amount for your loan.

As-is

A property for sale "as is" means it's being sold in its existing condition, even if its systems aren't in working order. Either the seller won't make any repairs or changes to the home, or the buyer won't ask for repairs or credits.

Assessed value

Assessed value is the dollar value placed on a home by the local municipality, which then decides how much a homeowner owes in property taxes. Tax assessors make these valuations every year. In most states, the assessed value is a set percentage of the property’s fair market value.

Assessment

A property assessment is made by a government assessor from the relevant county or municipality to determine the value of a home and, as a result, the annual property taxes owed by the homeowner.

The assessed value is calculated by multiplying the home's fair market value by the local assessment rate, which can be any percentage less than 100% and is determined by each municipality.

B

Backup offer

Home buyers can make a backup offer on a home already under contract with another buyer. A backup offer puts you first in line for consideration by the seller if the current offer falls through. Buyers who submit a backup offer can still search for other properties while they wait.

Bill of sale

A bill of sale records the transfer of a property from a seller to a buyer. The seller typically signs this document at closing.

The bill of sale typically includes the name and address of the buyer and seller, their signatures, the purchase date, a brief description of the property sold, a list of all the personal property the seller is transferring to the buyer in the sale, and the amount paid.

Breach of contract

A breach of contract is a violation of any term or condition included in your real estate contract.

This can apply to sellers or buyers who decide to back out of their home sale, or if the seller fails to make a repair stipulated in the sale contract.

Broker

A real estate broker is an agent who holds an upgraded professional license requiring additional experience and education. Brokers can still represent buyers and sellers in real estate transactions. But unlike agents, they're also licensed to start their own brokerage firms and employ other real estate agents.

Broker price opinion

A broker price opinion (BPO) is a home valuation report provided by a licensed real estate professional. It determines your home's estimated market value based mainly on its condition and the recent sale prices of similar homes located nearby.

Buyer’s agent

A buyer's agent represents the buyer in the home-buying process. A buyer's agent can help you find properties, make offers, negotiate with sellers and protect your interests to ensure you get a fair deal.

C

Cash buyer

A cash buyer is an individual or a company that purchases a home for cash assets that they have on hand. If you can afford it, paying in cash can give you a strong negotiating position — and possibly even a much faster closing.

Cash-out refinance

A cash-out refinance is when you take out a mortgage for a greater amount than what you owe on your existing mortgage based upon the increased value of your property. You can pocket the difference that is paid in cash.

If you have high-interest debt — like credit cards or auto loans — you might consider paying it off using a cash-out refinance.

Closing

Closing happens when a buyer and seller meet to finalize a home sale: the buyer makes a down payment, and both parties sign documents and pay closing costs. The buyer and seller agree on a closing date that allows the buyer to apply and be approved for a loan and get a property appraisal.

Closing costs

Closing costs are fees that home buyers and sellers pay to complete a real estate transaction — in addition to the sales price of the home and the mortgage down payment.

Sellers typically pay 1–3% of the final sale price in closing costs, while buyers generally owe around 3–5%.

Lenders are legally required to disclose your estimated closing costs when they provide your loan estimate at least three days before your closing date.

Commission

Commission is the money a real estate agent earns at the end of a transaction for their services, usually paid by the seller. The going rate for realtor commissions is about 6% of the final purchase price, which covers both the buyer’s and seller’s agents, but you can always negotiate a lower rate.

Comparable market analysis (CMA)

A comparable market analysis (CMA, or comp) is an estimate of a home's value based on recent sale prices of similar nearby properties. The CMA considers square footage, features, number of bedrooms and bathrooms, age, condition, and any upgrades and renovations that have been completed. An experienced realtor can get you the most accurate numbers for free.

Contingencies

Contingencies are deal-breakers written into a purchase agreement. If every condition isn't met, either party can terminate the sale without a penalty. Contingencies can protect you against issues with home inspections, appraisals, financing, selling another home, and more.

Contingent offer

A contingent offer status means an offer has been made on a house, but an issue — the contingency — needs to be resolved before the deal closes. Once all the contingencies are met, the listing status changes to "pending."

Counter offer

When a buyer makes an offer on a house, the seller can accept it or make a counter offer.It's typically for an amount between the buyer’s original offer and the asking price.

D

Debt-to-income ratio (DTI)

Your debt-to-income ratio (DTI) is the percentage of your gross monthly earnings that goes toward monthly debt payments — e.g., credit cards, student loans, car loans, mortgages. Mortgage lenders set DTI limits (typically 36–43%) to prevent you from taking on too much debt and defaulting on your loan.

Department of Housing and Urban Development (HUD)

The Department of Housing and Urban Development (HUD) is a U.S. government agency that insures mortgage loans made by private lenders to homebuyers. HUD offers several programs through its Federal Housing Administration (FHA) to make homeownership possible for low-income and first-time home buyers.

Disclosure

A seller's disclosure tells a potential buyer about any issues that may affect a home's value or the health of its new occupants. Failure to disclose defects or problems could lead to withdrawn offers, legal issues with potential buyers, and a damaged reputation for the agent working with that seller.

Discount broker

A discount broker is a real estate company or agent that offers built-in commission savings for home sellers. Instead of charging the traditional 2.5–3% listing fee, discount brokers charge a flat fee or rates as low as 1% of a home's purchase price.

Dual agency means one agent represents both the buyer and the seller in a real estate transaction. Though this can provide some speed and convenience, it also presents a central conflict of interest.

Dual agency is illegal in some states. If you do work with a dual agent, you'll need to be your own advocate and negotiator, which can be challenging if you're new to the process of buying or selling a home.

E

Earnest money

Earnest money is the deposit made by the buyer once a home is under contract, usually 1–2% of the sales offer. Buyers can use that money toward the eventual down payment, and sellers have a little security should the deal fall through.

Easement

An easement grants someone the legal right to use another person’s real estate for a specific purpose while leaving the title in the owner's name. Easements are sometimes necessary on properties that have a shared driveway or when one owner can’t access their property without using another owner’s property.

Your real estate agent can usually find out if a property has any easements.

Equity

Equity refers to how much of your home you actually own — how much of the original mortgage balance you’ve already paid off. If you have a $200,000 home, and you still owe $150,000 on it, you have $50,000 in equity.

Escrow

Escrow is a third-party account that the lender sets up that receives monthly payments from the buyer. Most often, the "value" the third party holds onto is the buyer’s earnest money check. When the transaction is complete (usually at closing), the third party releases those funds to the seller.

Exclusive agency listing

An exclusive agency listing gives home sellers the opportunity to find a buyer on their own OR with the help of a listing agent. Most home sellers avoid exclusive agency agreements since they can end in disputes over who sourced the buyer when the home sells.

» SEE: For sale by owner

Exclusive right to sell

In an exclusive right to sell agreement (the most common type of listing agreement), a seller agrees to work with a single listing agent throughout the real estate process. And no matter who ultimately buys the home — or how the buyer finds out about it — the seller will pay an agreed-upon listing fee to this agent at closing.

F

Federal Housing Administration (FHA)

The Federal Housing Administration (FHA) insures home loans provided by private lenders. These lenders can make their loans more accessible to borrowers with low income, low credit, and high debt-to-income ratios — and be protected against any losses.

» SEE: Debt-to-income ratio

FHA loans

FHA loans are mortgages issued by the Federal Housing Administration. The FHA insures private home loans to make them more affordable, and they require smaller down payments than traditional loans.

FHA loans are designed for home buyers with low income, poor credit, and high debt-to-income ratios. They also require mortgage insurance, an expense that can add up over time.

Fixed-rate mortgage

A fixed-rate mortgage has a set interest rate for the length of the loan (usually 15 or 30 years), so the monthly payments on your mortgage won't change.

Fixed-rate mortgages are better insulated from economic changes and allow homeowners to budget with more certainty over the long term. However, these mortgages are much less customizable and usually need to be refinanced at some point.

» SEE: Adjustable-rate mortgages

Flat fee MLS

A flat fee MLS company will list your home on the local multiple listing service (MLS) for a set rate. MLS listings get posted to every major real estate website — like Zillow and Realtor.com — where other agents will see them and share with their clients.

While using a flat-fee MLS service could save you money on realtor commission, it also shifts most of the burden to you. You'll have to handle showings, setting the price, and purchase negotiations.

For sale by owner (FSBO)

A home for sale by owner (FSBO) is being sold without the help of a real estate agent. Sellers handle all of the steps and details of the sale themselves. FSBO works best if you already have a buyer lined up or if it's a hot market for sellers.

While selling FSBO can save you thousands of dollars on realtor commission, you likely won't be able to sell your home at the price you'd get when working with an agent.

Foreclosure

A foreclosure is when a homeowner stops making mortgage payments and defaults on their loan. The homeowner has to move out, and the lender sells the foreclosed home on the market or at a private real estate auction.

A foreclosure will show up on a homeowner's credit history report for seven years, and they may have trouble getting approved for future home loans.

H

Home sale contingency

A home sale contingency makes a sale dependent on a buyer selling their existing home by a specific date.

A home sale contingency can provide buyers an out if they aren't absolutely sure they can sell their current home. These are risky for sellers, since it adds a level of uncertainty to the sale.

Home warranty

A home warranty covers high repair costs for major appliances, electrical systems, and plumbing systems. It's similar to home insurance (which deals with unexpected damages), but it's optional and covers damage from normal wear and tear.

You pay both a monthly fee and a service fee for a home warranty, which can add up. Sometimes, a seller will offer to pay for a home warranty in exchange for a buyer waiving an inspection contingency.

Homeowners association (HOA)

A homeowners association (HOA) manages residential developments with shared features and spaces, like private roads or rec centers. Members — the homeowners within a development — elect their neighbors to the HOA board, which collects fees, disburses funds, holds meetings, and maintains common areas.

HOAs cover about a quarter of the U.S. housing stock, most commonly planned communities and condominiums. Being a member can come with a lot of perks, like access to amenities. However, monthly HOA fees can be expensive and many HOAs have strict rules that may prevent you from renovating your home.

I

iBuyer

An iBuyer is an online real estate company that makes cash offers for homes. Sales can close as quickly as within two weeks. iBuyers usually pay close to the fair market value (slightly below) for a home, and they focus almost exclusively on homes that need only minor repairs in major metro areas.

iBuyers are great options for homeowners hoping to sell quickly. Just remember the trade-off: a faster sale comes with a lower sale price.

Inspection

A home inspection is a thorough examination of a property's condition by a licensed professional. Home inspections usually take place BEFORE a home sale, though owners can schedule an inspection any time.

An inspection can focus on things like the home's structure, electrical system, air quality, mold and pests, and more. Most people pay $300–500 for an inspection.

L

Lien

A lien is a legal claim on an asset, like a house. A creditor can claim a lien on your house if you owe them money. If you don't pay up, they can receive your home as payment instead.

The most common type of lien is a tax lien. Homeowners can receive a tax lien against their home if they neglect to pay their property taxes.

Listing agent

A listing agent, also known as a seller's agent, represents the seller in a real estate transaction. The listing agent guides the seller through the process, markets the property, helps pick a buyer, and assists in negotiating the sale.

Listing agreement

A listing agreement is the contract a home seller signs with their agent. It outlines the seller’s obligations and the services the agent will provide, including the listing, marketing, and ultimately closing the real estate transaction. The contract typically expires after three to six months.

Listing agreements typically expire after three, six, or 12 months (depending on the market and property).

Listing fee

A listing fee is what you pay your real estate agent to sell your property. The fee typically comes out of the proceeds from that sale, though you can negotiate the amount with your agent.

The average listing fee is 2.72% of the final sale price. Listing fees are usually half of the total real estate commission included in a sale (typically 5–6%), with the other half going to the buyer's agent.

Loan contingency

A loan contingency, also known as a financing or mortgage contingency, is a term written into a purchase agreement that lets a buyer back out of a home purchase if they can't secure a loan without losing their earnest money deposit.

M

Multiple listing service (MLS)

A multiple listing service (MLS) is a local database that compiles all the information about homes for sale, such as their asking prices, number of bedrooms, and square footage. Listing with an agent gives a seller the opportunity to get the most exposure for their home.

Only licensed real estate agents have access to an MLS, though the listings are often pulled onto home-buying websites like Zillow.

N

National Association of Realtors (NAR)

The National Association of Realtors (NAR) is an industry trade group for real estate professionals like agents, brokers, and appraisers.

Its members are called Realtors (with an uppercase "R"). The NAR does NOT handle the licensing for any real estate professionals.

Net listing

A net listing is an agreement that a seller's agent will get paid from any extra proceeds from a home sale — not commission. So if you list your home for $250,000 and it sells for $265,000, your agent will get $15,000.

Net listings are rare and even banned in most states because they can result in the seller losing out on thousands of dollars.

Net sheet

A seller's net sheet outlines how much cash they can expect after closing on their home sale. It's prepped by a realtor for free and considers the home's sale price and any expenses tied to the sale, like closing costs and realtor commission.

O

Open listing

An open listing agreement is a non-exclusive contract between a seller and a real estate agent. A seller can work with multiple agents to find a buyer and only pay commission to the agent who brings in the final buyer.

Open listing agreements are good for sellers who want to cast a wider net for potential buyers while saving money on listing fees. They also give sellers the option of a FSBO transaction.

Owner financing

Owner financing, also known as seller financing, is when a buyer gets a loan from the current homeowner instead of from a bank. The seller then receives monthly mortgage payments rather than a lump sum at the sale.

Owner financing can be more attractive to buyers and help a property to sell faster. But sellers won't have a lump sum to put toward a new home, and buyers risk overpaying (since there's no appraisal).

P

Pocket listing

Pocket listings are off-market properties. Instead of listing the property on the MLS, an agent will market the property to specific clients and groups of other agents.

Pocket listings are typically used for wealthy clients selling high-end homes (though the practice is becoming more common across incomes). They're also good for sellers who don't want to publicize why they're selling, like for a private life change such as divorce or financial troubles.

Power buyer

Power buyers are tech-oriented brokerages specializing in "buy-before-you-sell" services. They sell properties to buyers BEFORE the buyers have sold their current homes through a process called "up-front underwriting."

Power buyers' services allow homeowners to move without an overlap between their mortgages and sell their homes without contingencies attached to the sale — attracting potential buyers. But buyer-before-you-sell services also include service fees and operate within limited markets since power buyers are relatively new.

Probate sale

A probate sale is when a property is sold after the owner's death. Probate courts handle the process if the owner didn't pick someone to inherit the property, and the deceased's closest relative is appointed as the executor for this sale. The probate sale process varies by state, but it generally takes 18–36 months.

Probate sale properties sell for reduced prices BUT they're usually sold as-is, meaning the new owners will be responsible for any repairs.

Q

Quit-claim deed

A quit-claim deed is a transfer of a property from one owner to another — there's NO sale and no mortgage involved. These are pretty common for transfers between family members or divorcing spouses.

R

Real estate agent

A real estate agent (or realtor with a lowercase "r") is someone licensed to represent buyers and sellers during a sale. They market properties, connect buyers and sellers, and help negotiate purchase agreements.

Agents earn commission from real estate transactions, meaning they're paid a percentage of a property's sale price after closing.

Real estate–owned (REO)

A real estate–owned (REO) property is owned by a lender because it didn't sell at a foreclosure auction.

REO properties can offer great opportunities for investors, as they're usually sold at prices lower than others on the market. However, buying REO properties can come with some risks, like competition from other buyers and no knowledge of whether the home needs repairs.

Realtor

A Realtor with a capital "R" — or a REALTOR® — is a member of the NAR (an industry trade group for real estate professionals).

To be an NAR member, Realtors need to meet all of the criteria to be a real estate agent, like passing a licensing exam. While many real estate agents (or realtors with a lowercase "r") are Realtors, some opt out of NAR membership.

Realtor Code of Ethics

The National Association of Realtors' Code of Ethics sets conduct standards for how the group's members ("Realtors") interact with clients (you), one other, and the public. Realtors who violate these standards could face penalties from the NAR. (These cases aren't shared publicly, though.)

Refinancing

Refinancing your mortgage involves swapping your existing home loan for a new, more favorable one. You pay off your existing mortgage through a separate home loan — which might have lower interest rate or not require mortgage insurance — and can be financed by your current lender or a new one.

Rent-back agreement

A rent-back agreement, also known as a seller's temporary residential lease or a lease-back agreement, is a legal agreement that allows a home seller to stay in their home for up to 60 days after closing, renting it from the new homeowner.

This gives the outgoing homeowner more time to move and the buyer some extra cash. Rent is often around how much the buyer would pay on their mortgage.

S

Seller's agent

A seller's agent, also known as a listing agent, represents a home seller when they're looking for and negotiating with buyers. The seller's agent guides the seller through the selling process, markets the property, assists in picking a buyer, and helps negotiate the sale.

A seller's agent has several legal responsibilities to their client, including acting in the client's best financial interest.

Selling agent

A selling agent, also known as a buyer's agent, represents a BUYER throughout a real estate transaction. Selling agents help buyers find potential properties, contact listing agents, and negotiate a sale.

Short sale

A short sale is a process that allows homeowners experiencing financial hardship to sell their home and avoid foreclosure. A short sale begins when a home's mortgage exceeds the value of the property.

All proceeds from the sale go to your lender, and they might forgive the rest of your mortgage. While you won't walk away with as much as you would with a traditional sale, a short sale can help you avoid credit history penalties you'd otherwise see with a foreclosure.

T

Title insurance

Title insurance covers court costs associated with ownership disputes. It can protect the homeowner or the lender.

During a home sale, the buyer and seller usually determine which party pays for title insurance. Lenders often require title insurance as a condition of the mortgage, but it's optional for the homeowners.

U

Under contract

A property is under contract when a home seller accepts a formal offer from a buyer. This doesn't mean the sale is finalized, just that the two sides are negotiating the finer details of the contract.

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The post Real Estate Terms You Should Know appeared first on Semya-Moya.

According to Zillow data, the current median home value in Maryland is $402,625. Home values have risen about 3.57% over the past year.

If you're buying or selling a house, finding the right assistance could be overwhelming. Luckily, Maryland has over 27,000 realtors and several real estate companies to choose from.

Our team of experts has found the top real estate companies in Maryland to help you find the best professional for your situation:

• Best for saving money
• Best for a fast sale
• Best for finding top agents
• Best by transaction volume

Best for saving money: Discount brokers

Discount brokers are an excellent choice if you want to save money and still work with a realtor. Home sellers are charged lower commissions, and home buyers get cash back or credits at closing.

Semya-Moya is our top pick in Maryland: with a listing fee of just 1.5%, you'll save the most money while still getting full-service support from a real estate professional.

Other services, like Semya-Moya, can match you with a full-service agent and help you save money by pre-negotiating lower fees.

Semya-Moya

Get Started

💲 Listing Fee

1.5% (min. $3,000)

💰 Avg. Savings

$5,625

⭐ Avg. Customer Rating

5/5 (2,735 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service. Try Clever for free — save thousands on commission.

• Clever offers a free, nationwide agent-matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX.
• You get multiple agent matches so you can interview, compare marketing plans, and choose the best fit.
• Clever pre-negotiates low rates on your behalf — you get full service for a low 1.5% listing fee.
• If you buy with Clever, you could get cash back after closing.

• You may not get matched with an agent from your preferred real estate brokerage.
• Agents may not provide premium services like drone photography and professional home staging.

Clever has a 5.0 out of 5 rating on Trustpilot, based on 2,589 reviews.

Read reviews from real Clever customers.

Clever has pre-negotiated low commission rates with top agents in all 50 states and Washington, DC.

Redfin

Full Review

💲 Listing Fee

1.5% (min. fees vary)

💰 Avg. Savings

$5,550

⭐ Avg. Customer Rating

2.9/5 (331 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

Redfin offers real savings and is a proven brand. But sellers could compromise on service — especially agent experience and availability.

Read the full Redfin review.

• If you buy and sell with Redfin, you'll get a 0.5% listing fee discount.
• Redfin gives its listings premium placement in its popular home search app.

• If finding the right agent is a top priority, you'll have limited options — Redfin only has a few agents in each of its markets.
• Redfin agents handle more customers at once than the average realtor, so they may not be able to provide as much personalized service.

Redfin has a 2.9 out of 5 rating (331 reviews) across popular review sites like Google and Yelp.

Read reviews from real Redfin customers here.

Redfin is available in 80+ U.S. markets (see all locations).

Ideal Agent

💲 Listing Fee

2% ($3k minimum fee)

💰 Buyer Savings

None

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

Ideal Agent can match you with a local realtor who sells a lot of homes. But although it pre-negotiates discounted listing fees, you can save twice as much with competitors like Clever.

• Agents in network must meet strict quality standards
• Pre-negotiated listing fees of 2% (or $3k for homes under $150,000)

• 2% listing fee is less than the national average, but it's not the best rate out there
• No built-in savings for buyers
• Only matches you with a single agent

As of 3/28/2023, Ideal Agent has an average customer rating of 4.9, based on 6,254 reviews across Google and Trustpilot.

Houwzer

Full Review

💲 Listing Fee

1% (min. $2,500)

💰 Avg. Savings

$7,625

⭐ Avg. Customer Rating

4.9/5 (1,463 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

Houwzer has very low listing fees, but you may be frustrated working with a team instead of just your realtor.

Read the full Houwzer review.

• You’ll pay a 1% listing fee, which is one of the lowest rates in the industry.
• Houwzer’s maximum listing fee of $10,000 makes it a great deal for homes over $1 million.

• Houwzer has a small team, which limits your options if you don't hit it off with the first agent it sends you.
• The company uses a team-based approach, which increases the chances of miscommunication and mistakes.

Houwzer has a 4.9 out of 5 rating (1,463 reviews) across popular review sites like Google and Zillow.

Read reviews from real Houwzer customers here.

Houwzer is available in the following locations: FL, MD, NJ, PA, VA, DC.

REX Real Estate

Full Review

💲 Listing Fee

2.5% ($9,000 min.)

💰 Avg. Savings

-$325

⭐ Avg. Customer Rating

4.7/5 (1,041 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

REX’s promise of huge savings is misleading. Its advertising misrepresents the significant risks of its pricing model and marketing approach. And its high minimum fees mean that many sellers won't save anything.

Read the full REX Real Estate review.

• REX's approach is incredibly risky — but if the gamble pays off, you could save about 50% on realtor fees
• Like other full-service brokerages, REX agents provide in-person services and support

• REX's 2.5% listing fee doesn't save you much — many full-price agents charge similar rates
• REX doesn't list your home on the MLS, so up to 90% of buyers may not even know it's for sale
• This risky marketing strategy seems likely to fail, so you may not save anything on commission

REX has a 4.7 out of 5 rating (1,041 reviews) across popular review sites like Google and Zillow.

Read reviews from real REX customers here.

REX is available in the following areas: AZ, CA, CO, FL, GA, MD, NV, NJ, OR, PA, TX, WA, DC.

Best for a fast sale: iBuyers and cash buyers

In Maryland, the median selling time for a home is 52 days, but if you need to sell your home quickly (in two weeks or less!), there are companies in Maryland that will make a cash offer and close on your timeline.

If your home is in good condition and requires few repairs, iBuyers (companies like RedfinNow) pay close to what you'd get on the open market. You won't have to deal with preparing, listing, and marketing your home. Some may even give you the option to move out AFTER closing.

» COMPARE: The Best 6 iBuyer Companies Ranked & Reviewed

But if you're trying to sell a distressed property, you would do better working with a cash buyer. In Maryland, these companies include Express Homebuyers, Market Pro, and I Buy Houses.

To make a profit in Maryland, cash buyers make offers between 50% and 70% of fair market value. On a $250,000 home, you could forfeit around $75,000.

» COMPARE: 5 We Buy Houses for Cash Companies in Maryland

RedfinNow (No longer available)

Full Review

Service Fee

5–13%

Closing Date Window

10–30 days

Average Rating

Not available

❗Note

Pros & Cons

Locations

Reviews

Contact

In November, 2022, Redfin announced that its home-buying service, RedfinNow, would be shut down. If you're still looking for an iBuyer, check out our list of top iBuyers.

Pros

• Expanded presence in cities across California, including several not served by other iBuyers
• Large and trusted corporate brand
• Older homes (built after 1930) are eligible in select cities

Cons

• Relatively expensive services fees (up to 13% of the offer price)
• Relatively limited flexibility on closing window, compared to competitors

RedfinNow is currently purchasing homes in 31 locations, including

• AZ: Phoenix
• CA: Inland Empire, Los Angeles, Orange County, Palm Springs, Sacramento, San Diego, San Francisco
• CO: Denver
• TX: Austin, Dallas, Houston, San Antonio
• WA: Seattle

As of 10/21/2022, RedfinNow's weighted average is 2.5 based on 7 reviews.

• Trustpilot: 2.5 | {ibuyers.redfinnow.trustpilot_count} reviews

• Website: www.redfin.com/
• Phone: (951) 229-0511
• Email: redfinnow@redfin.com

Express Homebuyers

Website

Phone Number

877-804-5252

Time to Offer

7 minutes

Time to Sale

7 days

Why we chose it

Details

Locations

Reviews

Express Homebuyers is really fast: it provides offers in just minutes and can close in just a week in many circumstances. Plus, the company has mostly positive reviews on Google.

Express Homebuyers is a national service that has partnered with local investors across the country to buy houses for cash.

Steps to sell with Express Homebuyers:

1. Submit your home's information to receive an initial "as is" offer
2. Meet with the local investor to assess your property and answer any questions
3. Discuss the local investor's final cash offer and, if you're willing to sell, sign a sales agreement then and there
4. Choose a closing day on your schedule
5. Show up on the day of the sale to sign the paperwork and receive cash within hours

Express Homebuyers has partnered with local investors in the following states:

Alabama	Louisiana	Ohio
Arizona	Maryland	Oklahoma
California	Massachusetts	Oregon
Colorado	Michigan	Pennsylvania
Delaware	Minnesota	South Carolina
Florida	Missouri	Tennessee
Georgia	Nebraska	Texas
Hawaii	Nevada	Utah
Illinois	New Jersey	Virginia
Indiana	New Mexico	Washington
Kansas	New York	Wisconsin
Kentucky	North Carolina

Express Home Buyers received an average of 3.7 stars from 261 customer reviews. It's accredited by the Better Business Bureau, and it has a B+ rating.

Google: 4.2 stars/122 reviews
Facebook: 4.6 stars/113 reviews
Yelp: 2.5 stars/26 reviews

MarketPro Homebuyers

Full review

Time to offer

Less than 10 days

Minimum closing time

7 days

Closing costs

No cost for seller

✍️ Editor's take

Pros and cons

Locations

Reviews

Contact

MarketPro pays significantly less than fair market value. It's available in only four states, so it's not an option for many home sellers. But it can close quickly and even offer a free moving service, so it might be worth it if you're relocating.

Pros

• Free moving assistance
• Close in just seven days
• No need to prep or repair home

Cons

• Pays less than fair market value
• Available in only a handful of markets

MarketPro Homebuyers operates in 22 counties across FL, MD, PA, VA, and Washington, DC.

As of October 2022, MarketPro Homebuyers has an average rating of 4.3/5 stars based on 400+ reviews.

• Google: 4.1/5 stars (337 reviews)
• BBB: 4.6/5 stars (87 reviews)

Positive reviews note an easy transaction process and professional service. But customers also mention negative aspects, including unreliable communication and aggressive marketing tactics.

• Website: marketprohomebuyers.com
• Phone: (301) 994-7355

Orchard

Full Review

Service fee

Typically 6%

Closing date window

14–60 days

Average rating

4.8 (1,184 reviews)

✍ Editor's take

Pros and cons

Locations

Reviews

Contact

Orchard is a home trade-in service that allows you to purchase a new home by getting access to your current home's equity. You can then list your old home on the market with an Orchard listing agent.

If you need to move quickly but still want top dollar for your home, Orchard is worth considering. However, Orchard only accepts homes built between 1920 and 2020 and worth between $200,000 and $1 (or $1.5 million, depending on the market).

Pros

• You can use Orchard's Offer Boost program to make a cash offer on a new home.
• If your home doesn't sell in 120 days, you can accept Orchard's guaranteed cash offer.

Cons

• Homes must be relatively new compared to what competitors accept (built after 1972 vs. 1930–1960).
• Orchard's cash offers will likely be much lower than what you could sell for on the open market.

Orchard is currently operating in these locations:

• CO: Denver
• GA: Atlanta
• TX: Austin, Dallas–Fort Worth, Houston, San Antonio

As of 10/21/2022, Orchard's average customer rating is 4.8/5 based on 1,184 reviews.

• Trustpilot: 4.8/5 (2.71/5 (14 reviews)

• Website: orchard.com
• Phone: (844) 515-9880
• Email: hello@orchard.com

I Buy Houses

Full review

Time to offer

Varies

Minimum closing time

Varies

Closing costs

Varies

✍️ Editor's take

Pros and cons

Locations

Reviews

Contact

I Buy Houses connects home sellers with a network of subscribers who are independent real estate investors. These investors aren't vetted in any way, so it's impossible to know what level of service you'll receive, and negotiating will be entirely up to you. In fact, there's no guarantee that anyone will even contact you when you submit your information.

Pros

• You get access to a national network of real estate investors.
• The online submission form is easy to fill out.

Cons

• There's no vetting process — anyone can sign up as an "investor."
• There aren't standards for how transactions are conducted.
• You have no guarantee that anyone will contact you or that you'll get an offer.

I Buy Houses is available in all 50 states and Washington, DC.

No customer reviews are available.

• Website: ibuyhouses.com
• Phone: (607) 527-6097

Best for finding top agents: Agent-matching services

If you want to work with a professional, agent-matching services can help you find top local realtors.

Some agent-matching services let you interview several agents from well-known brokerages (like Century 21 and Keller Williams) until you find one that you feel comfortable with. Others (like Clever and Upnest) also charge a reduced commission.

To get the most savings AND a full-service agent, Clever is our top pick in Maryland. You'll pay just 1.5%.

Semya-Moya

Full Review

💲 Listing Fee

1.50%

💰 Buyer Savings

Up to $500 cash back

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service.

Learn how Clever helps you find the perfect agent and save thousands

• Free, nationwide agent-matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX
• Provides multiple agent matches so you can interview, compare marketing plans, and choose the best fit
• Pre-negotiates low rates on your behalf — you get full service for 1.5% with a $3,000 minimum
• If you buy with Clever, you may get up to $500 cash back if you qualify

• You may not get matched with an agent from your preferred real estate brokerage.
• Like other agent matching services, Clever may have fewer agents in rural areas.
• Agents may not provide premium services like drone photography and professional home staging.

As of 11/6/2023, Clever has an average customer rating of 5.0 on Trustpilot, based on 2,589 reviews.

Read reviews from real Clever customers here.

UpNest

💲 Listing Fee

Varies

💰 Buyer Savings

Varies

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

UpNest has agents compete for your business, which often results in you getting a discounted rate. But savings aren't guaranteed and you will usually find a better rate with competitors like Clever.

• Agents compete for customers, which often results in slightly discounted rates
• Customer dashboard is easy to use and provides lots of each information about each agent

• Savings are not guaranteed and are often only a little better than the national average
• Agent quality and coverage varies, with smaller markets having fewer options than big cities

As of 10/13/2023, UpNest has an average customer rating of 4.6, based on 6,641 reviews across Better Business Bureau, Google, Facebook, and Shopper Approved.

Ideal Agent

💲 Listing Fee

2% ($3k minimum fee)

💰 Buyer Savings

None

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

Ideal Agent can match you with a local realtor who sells a lot of homes. But although it pre-negotiates discounted listing fees, you can save twice as much with competitors like Clever.

• Agents in network must meet strict quality standards
• Pre-negotiated listing fees of 2% (or $3k for homes under $150,000)

• 2% listing fee is less than the national average, but it's not the best rate out there
• No built-in savings for buyers
• Only matches you with a single agent

As of 3/28/2023, Ideal Agent has an average customer rating of 4.9, based on 6,254 reviews across Google and Trustpilot.

HomeLight

Full Review

💲 Listing Fee

Standard rate (2.5-3%)

💰 Buyer Savings

None

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

HomeLight is an excellent tool for finding a great local agent quickly. However, it offers zero built-in commission savings for sellers or buyers.

Read the full HomeLight review.

• Get a list of local real estate agents in as little as two minutes
• One of the largest agent networks in the industry makes it less challenging to find an agent who specializes in short sales and other non-traditional sales
• Optional Trade-In program makes it easier to buy a new house if you need to sell your current one first

• No built-in savings for home sellers or buyers
• No minimum qualifications for partner agents, so quality may vary between locations

As of 8/23/2023, HomeLight has an average customer rating of 4.6 across 1,178 reviews on Google, Sitejabber, and the Better Business Bureau.

Read reviews from real HomeLight customers.

Best by transaction volume

A more objective metric of the a real estate company's performance is its transaction volume: the total dollar value of all its deals.

Transaction volume won't tell you which company offers the best customer experience in the state — just who's earning the most business.

Below are some of the top real estate teams in Maryland based on total transaction volume and team size (small, medium, or large).

🏆 Best small teams

🏆 Best medium teams

🏆 Best large teams

Fast facts about real estate in Maryland

FAQs about the best real estate companies in Maryland

Methodology

Our Maryland real estate company categories and rankings are based on hundreds of hours of collective research by Clever's editorial team. Our research included:

• Interviews with local real estate agents
• Mystery shopping of real estate companies to learn more about how their services work
• Comparing each company based on categories like fees, overall customer satisfaction, and additional services

Transaction volume data for brokerages in Maryland was sourced from RealTrends' state rankings.

Related links

Average Cost to Sell a House in Maryland

It costs maryland to sell a house in Maryland on average! Use our cost of selling a house calculator to see how much you'll pay when you sell your home.

How to Buy a House in Maryland [8-Step Guide for 2023]

From saving for a down payment to reaching the closing table, learn how to navigate the key steps to buying a house in Maryland.

The Best Low Commission Realtors (2023 Broker Rankings)

Find the best low commission real estate agents and brokers, so you can sell with a full-service realtor and save thousands on commission fees!

The post Top Real Estate Companies in Maryland appeared first on Semya-Moya.

With the right resources, you can identify potentially discounted properties and determine if a foreclosure is a good idea for you.

Here's a look at how to get started.

Assemble the right team

Partner with experts who have helped people buy foreclosures, preferably many times.

"Make sure that you're working with a reputable real estate agent who has experience with foreclosures," says Shaun Martin, CEO of We Buy Houses In Denver. "They'll be able to guide you through the process and help you avoid any potential pitfalls."

An agent well versed in the local market can help you figure out which areas are ready for foreclosures, says Klara Dumancic, marketing specialist at Investors Club.

"They will know which houses have been for sale for a long time and may be ready to sell at a lower price. They will also know which properties are in foreclosure but haven't been made public yet."

Also, consult with a real estate attorney with foreclosure experience. You can ask your real estate agent for recommendations.

Look at pre-foreclosures and short sales first

Pre-foreclosure begins when a homeowner stops making their mortgage payments. A short sale is when a borrower agrees to sell their property for less than what they owe to avoid foreclosure.

"The best time to buy a foreclosure is in pre-foreclosure," says Mark Motes, CEO and chief real estate investor at Mark Buys Houses. "The reason being is you will have direct negotiations with the homeowner, not with a bank that's repossessed the home.

"On top of that," he adds, "in pre-foreclosure, you have a lot of leverage because the owner has no other options but to quickly sell or destroy their credit. In this scenario, you can likely purchase the house for 60 to 70% of its market value."

Pre-foreclosure also provides the best chance to look closely at the home. Once a property goes to public auction, you won't have an opportunity to inspect it.

But, it can be challenging to talk to a homeowner about selling during pre-foreclosure. It's a sensitive time. They might be trying to catch up on their delinquent payments. Or they could be in denial and unwilling to discuss selling their home with you. But, if a home is listed for a short sale, at least you know they are willing to sell.

Know all your available resources

You have plenty of resources for finding foreclosure listings.

• Your real estate agent. This person will be your primary source, particularly if they know the local market and have experience with foreclosures.
• Home sale websites. Most multiple listing services (MLS) and home sale websites like Realtor.com and Zillow will include listings of foreclosures, pre-foreclosures, short sales, or REO properties. REO stands for "real estate owned," which means owned by the bank or the government.
• Government agencies. These agencies provide lists of foreclosed properties they have financed: HomePath.com (Fannie Mae), HomeSteps.com (Freddie Mac), HUD.gov (FHA), and the USDA. And the IRS has listings of properties they've seized for non-payment of taxes.
• Foreclosure websites. Foreclosure.com and RealtyTrac are among the most popular. Both require a paid subscription to access. But you might find the same listings through free sites. If you want to try Foreclosure.com, it offers a free 7-day trial.
• Your local newspaper. To file a foreclosure, a notice of sale has to run in the local newspaper of record. The legal notices section will also list public foreclosure auction houses in your area.
• Bank websites. Many larger banks list their REO properties.
• Public records. Legal notices are filed throughout the foreclosure process. Check your local county recorder's office or city courthouse. You want to search for the terms "notice of default" (NOD) or "notice of sale."
• Sheriff's sales or public auctions. Auction house websites will list upcoming locations and times for foreclosure sales. It's possible to find great deals at auction, but you will be buying them "as is." You see a home, the auctioneer will provide a description, and you will bid. And all sales are final. This is a buyer-beware situation.
• Shop the neighborhood. Go to the area you're interested in buying in and look for home-for-sale signs that say foreclosure, short sale, and the like. Then, call the agent listed to inquire about it and similar listings that may be coming on the market.

How to identify a suitable foreclosure

You should ask many questions and get advice from your realtor or attorney before deciding on one.

"Foreclosures carry risk," says Michael Shapot, an associate broker with Keller Williams in New York City. "Hidden fees, cumbersome purchasing processes, unexpected and expensive repairs, and the possibility of evicting tenants and squatters can be just the tip of the foreclosure closing iceberg."

• Get an inspection, if at all possible. If you know what repairs are needed, you can budget for them. Or, decide that you can't afford the repairs and move on to the next prospect. "Go look at it with your contractor and estimate repairs," says Olga Raptis of Velos Property Solutions, a cash buyer for homes. "You already know it'll need them, so onward and forward."
• Make sure that the property is priced below market value. Have your agent perform a CMA (comparable market analysis) to see how the foreclosure's price compares to similar properties.
• Make sure the property is in a neighborhood you like. The money may work out, but what if you don't want to live there? Then it's not for you, unless you're an investor who plans to flip or rent it.
• Find out about any liens or encumbrances. Do a title search. Your agent or real estate attorney can help you with this. Title and lien issues can be fixed but will require money and time.
• Be prepared to move quickly. When there's a good deal available, you'll face a lot of competition. Know your budget ahead of time – accounting for repairs and other costs to make the home livable – so when a good prospect comes along, you can jump on it. "Don't miss out because you were willing to pay more, and didn't," says Ray Ellen, a realtor at Pixel Properties. "If you would pay $1,000 more but are trying to play the game, is it more important to play the game or get the house? Put in your walk-away offer and be happy about it if you get it, and just as happy if you don't."

Related Articles

Should I Buy a Foreclosure in This Housing Market?

With foreclosures rising, buyers may find opportunities for discounted homes. But you'll want to weigh the pros and cons.

Foreclosures Are Up 187%, But Experts See a Silver Lining

The number of U.S. homes entering foreclosure has nearly tripled from over a year ago. Here's what the experts have to say about it.

Step-by-Step, Here's How to Purchase a Real Estate Foreclosure

Buying a foreclosed home might seem like a complicated process, but it isn't really too far removed from a typical purchase. This covers the best tips for buying foreclosure properties so that you can grab a potential bargain.

The post How to Find the Right Foreclosure Home in This Market appeared first on Semya-Moya.

According to Zillow data, the current median home value in the Peach State is $319,158. Home values have risen about 2.50% over the past year.

Georgia has over 60,000 realtors and dozens of real estate companies to choose from. Whether you're buying or selling a house, finding the right service can be daunting.

Our team of experts has found the top real estate companies in Georgia to help you find the best service for your situation:

• Best for saving money
• Best for a fast sale
• Best for finding top agents
• Best by transaction volume

Best for saving money: Discount brokers

Discount brokers are a great option for saving money while still working with a real estate agent. Typically, home sellers are charged a reduced commission, and home buyers get cash back or credits at closing.

Other services, like Semya-Moya, can match you with a full-service agent and help you save money by pre-negotiating lower fees.

Semya-Moya

Get Started

💲 Listing Fee

1.5% (min. $3,000)

💰 Avg. Savings

$5,625

⭐ Avg. Customer Rating

5/5 (2,735 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service. Try Clever for free — save thousands on commission.

• Clever offers a free, nationwide agent-matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX.
• You get multiple agent matches so you can interview, compare marketing plans, and choose the best fit.
• Clever pre-negotiates low rates on your behalf — you get full service for a low 1.5% listing fee.
• If you buy with Clever, you could get cash back after closing.

• You may not get matched with an agent from your preferred real estate brokerage.
• Agents may not provide premium services like drone photography and professional home staging.

Clever has a 5.0 out of 5 rating on Trustpilot, based on 2,589 reviews.

Read reviews from real Clever customers.

Clever has pre-negotiated low commission rates with top agents in all 50 states and Washington, DC.

Redfin

Full Review

💲 Listing Fee

1.5% (min. fees vary)

💰 Avg. Savings

$5,550

⭐ Avg. Customer Rating

2.9/5 (331 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

Redfin offers real savings and is a proven brand. But sellers could compromise on service — especially agent experience and availability.

Read the full Redfin review.

• If you buy and sell with Redfin, you'll get a 0.5% listing fee discount.
• Redfin gives its listings premium placement in its popular home search app.

• If finding the right agent is a top priority, you'll have limited options — Redfin only has a few agents in each of its markets.
• Redfin agents handle more customers at once than the average realtor, so they may not be able to provide as much personalized service.

Redfin has a 2.9 out of 5 rating (331 reviews) across popular review sites like Google and Yelp.

Read reviews from real Redfin customers here.

Redfin is available in 80+ U.S. markets (see all locations).

Ideal Agent

💲 Listing Fee

2% ($3k minimum fee)

💰 Buyer Savings

None

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

Ideal Agent can match you with a local realtor who sells a lot of homes. But although it pre-negotiates discounted listing fees, you can save twice as much with competitors like Clever.

• Agents in network must meet strict quality standards
• Pre-negotiated listing fees of 2% (or $3k for homes under $150,000)

• 2% listing fee is less than the national average, but it's not the best rate out there
• No built-in savings for buyers
• Only matches you with a single agent

As of 3/28/2023, Ideal Agent has an average customer rating of 4.9, based on 6,254 reviews across Google and Trustpilot.

Prevu Real Estate

Full Review

💲 Listing Fee

1.5% (min. fees vary)

💰 Avg. Savings

$2,450

⭐ Avg. Customer Rating

5.0/5 (465 reviews)

✍️ Editor's Take

Pros

Cons

Reviews

Locations

Prevu offers solid commission savings for buyers and sellers. But at certain price points, other discount brands may offer better value.

Read the full Prevu review.

• Prevu's 1.5% listing fee saves sellers an average of $2,450 compared to a standard 3% commission rate.
• Eligible buyers get a commission rebate worth up to 2% of the home price.

• High minimum fees may limit your savings if you're selling a lower-priced home.
• Prevu has a small team, which limits your options if you don't hit it off with the first agent it sends you.

Prevu has a 5.0 out of 5 rating (465 reviews) across popular review sites like Google and Yelp.

Read reviews from real Yelp customers here.

Prevu is available in the following areas: CA, CO, CT, MA, NY, PA, TX, WA.

Sell Now Homebuyers

Website

Phone Number

(914) 559-2579

Time to Offer

24 hours

Time to Sale

21 days

Why We Chose It

Details

Locations

Reviews

We picked Sell Now Homebuyers because it's a local buyer with excellent reviews on Google.

Sell Now Homebuyers is a group of local, New York property investors that buys homes for cash in the New York tri-state area. To sell your home to Sell Now Homebuyers, expect to:

• Fill out their online form with home details
• Set up a call to discuss your offer, and accept or decline immediately
• Close in less than a month

Sell Now Homebuyers primarily operates in:

• New York City
• Hudson Valley
• New Jersey
• Connecticut
• And more - check the website for a complete list of locations.

Sell Now Homebuyers received an average of 4.9 stars from 31 customer reviews.

Google: 4.9 stars/36 reviews
Facebook: 1 star/1 review

Best for a fast sale: iBuyers and cash buyers

In Georgia, the median selling time for a home is 95 days. If you need to sell your home faster, you can work with a buyer company that will make a cash offer and close on your timeline — often in under two weeks.

If your home is in good condition and requires minimal repairs, iBuyers (companies like Offerpad and Opendoor) pay almost as much as you'd get on the open market. You won't have to deal with preparing, listing, and marketing your home — some iBuyers will even let you move out AFTER closing.

» FIND: The Best 6 iBuyer Companies Ranked & Reviewed

If you're trying to sell a distressed property, you're better off working with a cash buyer. In Georgia, those companies include Express Homebuyers, Dependable Homebuyers, and Real Ventures.

Cash buyers make offers between 50% and 70% of fair market value. On a $250,000 home, that means you'd lose out on around $75,000.

» FIND: 5 Georgia We Buy Houses for Cash Companies & Alternatives

Opendoor

Full review

Service fee

5%

Closing date window

14–60 days

Average rating

4.2 (3,419 reviews)

✍ Editor's take

Pros and cons

Locations

Reviews

Contact

Opendoor is a good option for home sellers who need a fast, predictable sale with minimal hassle. While the price that Opendoor pays might be slightly below the value of comparable homes on the open market, the difference might be worth it for people who value convenience and speed.

Pros

• The 5% service fee is lower than some competitors.
• Many customer reviews rate the company highly.

Cons

• Offer prices may vary by market.
• You have a limited ability to negotiate.
• Buyers may find Opendoor's repairs insufficient.

Opendoor is currently purchasing homes in 47 locations, including:

• AZ: Phoenix, Tucson
• CA: Los Angeles, Riverside, Sacramento, San Diego
• CO: Denver
• FL: Jacksonville, Orlando, Tampa
• GA: Atlanta
• MN: Minneapolis–St. Paul
• NV: Las Vegas
• NC: Asheville, Charlotte, Raleigh-Durham
• OR: Portland
• TN: Nashville
• TX: Austin, Dallas–Fort Worth, Houston, San Antonio
• UT: Salt Lake City

As of 8/7/2023, Opendoor's weighted average is 4.2 based on 3,419 reviews.

• Reviews.io: 4.4 (3078 reviews)
• Better Business Bureau: 1.57 (180 reviews)

• Website: opendoor.com
• Phone: (888) 352-7075
• Email: contact@opendoor.com

Offerpad

Full review

Service fee

6%

Closing date window

8–60 days

Average rating

4 (2,656 reviews)

✍ Editor's take

Pros and cons

Locations

Reviews

Contact

Offerpad promises the certainty of a cash offer and a fast closing on a date you choose. Of all the iBuyers, Offerpad has the most flexibility when it comes to closing (8–60 days) and is liked by customers for its personalized customer service and perks like a free local move.

Pros

• There's a longer closing window compared to competitors.
• The late checkout option gives sellers up to three days to move out after closing.
• You can access additional services, such as free local moves within 50 miles.

Cons

• There's a 1% cancellation fee if you back out of the sale.
• It's not as widely available as competitors like Opendoor.

Offerpad is currently purchasing homes in 25 locations, including:

• AL: Birmingham
• AZ: Phoenix, Tucson
• CA: Riverside, Sacramento, San Bernardino
• CO: Colorado Springs, Denver, Fort Collins
• FL: Jacksonville, Orlando, Tampa
• GA: Atlanta
• IN: Fort Wayne, Indianapolis
• KS: Kansas City
• MO: Kansas City, St. Louis
• NV: Las Vegas
• NC: Charlotte (+ neighboring parts of SC), Raleigh
• OH: Columbus
• SC: Columbia
• TN: Nashville
• TX: Austin, Dallas-Fort Worth, Houston, San Antonio

As of 8/7/2023, Offerpad's average customer rating is 4 based on 2,656 reviews.

• Review.io: 2.1 (21 reviews)
• Better Business Bureau: A+ | 4.18 (262 reviews)

• Website: offerpad.com
• Phone: (844) 388-4539
• Email (sellers): info@offerpad.com
• Email (buyers): buyers@offerpad.com

Express Homebuyers

Website

Phone Number

877-804-5252

Time to Offer

7 minutes

Time to Sale

7 days

Why we chose it

Details

Locations

Reviews

Express Homebuyers is really fast: it provides offers in just minutes and can close in just a week in many circumstances. Plus, the company has mostly positive reviews on Google.

Express Homebuyers is a national service that has partnered with local investors across the country to buy houses for cash.

Steps to sell with Express Homebuyers:

1. Submit your home's information to receive an initial "as is" offer
2. Meet with the local investor to assess your property and answer any questions
3. Discuss the local investor's final cash offer and, if you're willing to sell, sign a sales agreement then and there
4. Choose a closing day on your schedule
5. Show up on the day of the sale to sign the paperwork and receive cash within hours

Express Homebuyers has partnered with local investors in the following states:

Alabama	Louisiana	Ohio
Arizona	Maryland	Oklahoma
California	Massachusetts	Oregon
Colorado	Michigan	Pennsylvania
Delaware	Minnesota	South Carolina
Florida	Missouri	Tennessee
Georgia	Nebraska	Texas
Hawaii	Nevada	Utah
Illinois	New Jersey	Virginia
Indiana	New Mexico	Washington
Kansas	New York	Wisconsin
Kentucky	North Carolina

Express Home Buyers received an average of 3.7 stars from 261 customer reviews. It's accredited by the Better Business Bureau, and it has a B+ rating.

Google: 4.2 stars/122 reviews
Facebook: 4.6 stars/113 reviews
Yelp: 2.5 stars/26 reviews

Dependable Homebuyers

Website

Phone Number

(855) 741-4848

Time to Offer

24 hours

Time to Sale

7 days

Why We Chose It

Details

Locations

Reviews

Dependable Homebuyers is a national cash buyer that operates in all 50 states. It can provide offers in just one day and closes in a couple of weeks.

Dependable Homebuyers is a national real estate investor service that operates in 50 US states and Washington D.C. Experience may vary depending on the state you choose to sell it, but in general, you can sell your house to Dependable Homebuyers by:

• Filling out the initial online assessment
• Receiving a cash offer within 24 hours
• Closing within a week, or on your own schedule

Dependable Homebuyers provides local services in 50 states and Washington, D.C.

Dependable Homebuyers received an average of 5 stars from 18 customer reviews. It's not accredited by the Better Business Bureau but it has an A+ rating.

Google: 5 stars/8 reviews
Facebook: 5 stars/10 reviews

Real Ventures LLC

Real Ventures

Phone Number

(770) 765-3288

Time to Offer

24 hours

Time to Sale

Undisclosed

Details

Locations

Reviews

Real Ventures LLC is a local, Georgia property investor that buys homes for cash in several counties across the state. To sell your home to Real Venture you can:

• Fill out their online form or call directly to provide basic home details
• Schedule an in-person inspection to receive a final cash offer

Real Ventures buys homes in the Cobb County, Cherokee County, Dekalb County, Douglas County, Forsyth County, Fulton County, Gwinnett County, and Henry County areas.

Real Ventures LLC received an average of 5 stars from 3 customer reviews. It's accredited by the Better Business Bureau and it has an A+ rating.

Facebook: 5 stars/3 reviews

Best for finding top agents: Agent-matching services

If you want to work with a professional, agent-matching services can help you find top realtors in your area quickly. These services are free and connect you with a pre-vetted local agent from well-known brokerages, like Coldwell Banker and REMAX.

Some agent-matching services provide names of several agents that you can interview until you find one that you feel comfortable with. Others, like Semya-Moya and Upnest, also charge a reduced commission.

Clever is our top pick in Georgia because with a listing fee of just 1.5% you'll save the most money while still getting full-service support from an agent.

Semya-Moya

Full Review

💲 Listing Fee

1.50%

💰 Buyer Savings

Up to $500 cash back

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service.

Learn how Clever helps you find the perfect agent and save thousands

• Free, nationwide agent-matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX
• Provides multiple agent matches so you can interview, compare marketing plans, and choose the best fit
• Pre-negotiates low rates on your behalf — you get full service for 1.5% with a $3,000 minimum
• If you buy with Clever, you may get up to $500 cash back if you qualify

• You may not get matched with an agent from your preferred real estate brokerage.
• Like other agent matching services, Clever may have fewer agents in rural areas.
• Agents may not provide premium services like drone photography and professional home staging.

As of 11/6/2023, Clever has an average customer rating of 5.0 on Trustpilot, based on 2,589 reviews.

Read reviews from real Clever customers here.

UpNest

💲 Listing Fee

Varies

💰 Buyer Savings

Varies

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

UpNest has agents compete for your business, which often results in you getting a discounted rate. But savings aren't guaranteed and you will usually find a better rate with competitors like Clever.

• Agents compete for customers, which often results in slightly discounted rates
• Customer dashboard is easy to use and provides lots of each information about each agent

• Savings are not guaranteed and are often only a little better than the national average
• Agent quality and coverage varies, with smaller markets having fewer options than big cities

As of 10/13/2023, UpNest has an average customer rating of 4.6, based on 6,641 reviews across Better Business Bureau, Google, Facebook, and Shopper Approved.

Ideal Agent

💲 Listing Fee

2% ($3k minimum fee)

💰 Buyer Savings

None

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

Ideal Agent can match you with a local realtor who sells a lot of homes. But although it pre-negotiates discounted listing fees, you can save twice as much with competitors like Clever.

• Agents in network must meet strict quality standards
• Pre-negotiated listing fees of 2% (or $3k for homes under $150,000)

• 2% listing fee is less than the national average, but it's not the best rate out there
• No built-in savings for buyers
• Only matches you with a single agent

As of 3/28/2023, Ideal Agent has an average customer rating of 4.9, based on 6,254 reviews across Google and Trustpilot.

HomeLight

Full Review

💲 Listing Fee

Standard rate (2.5-3%)

💰 Buyer Savings

None

⚡ Avg. Customer Rating

⭐⭐⭐⭐⭐

✍️ Editor's Take

✔️ Pros

❌ Cons

🏆 Reviews

HomeLight is an excellent tool for finding a great local agent quickly. However, it offers zero built-in commission savings for sellers or buyers.

Read the full HomeLight review.

• Get a list of local real estate agents in as little as two minutes
• One of the largest agent networks in the industry makes it less challenging to find an agent who specializes in short sales and other non-traditional sales
• Optional Trade-In program makes it easier to buy a new house if you need to sell your current one first

• No built-in savings for home sellers or buyers
• No minimum qualifications for partner agents, so quality may vary between locations

As of 8/23/2023, HomeLight has an average customer rating of 4.6 across 1,178 reviews on Google, Sitejabber, and the Better Business Bureau.

Read reviews from real HomeLight customers.

Best by transaction volume

A more objective metric to measure the best real estate companies in Georgia is the total dollar value (or transaction volume) of all deals that passed through a local real estate brokerage.

This data doesn't necessarily tell you which company in the state offers the best customer experience — just who's earning the most business.

Below are the top real estate teams in Georgia based on total transaction volume and team size (small, medium, or large).

🏆 Best small teams

🏆 Best medium teams

🏆 Best large teams

Fast facts about real estate in Georgia

FAQs about the best real estate companies in Georgia

Methodology

Our Georgia real estate company categories and rankings are based on hundreds of hours of collective research by Clever's editorial team. Our research included:

• Interviews with local real estate agents
• Mystery shopping of real estate companies to learn more about how their services work
• Comparing each company based on categories like fees, overall customer satisfaction, and additional services

Transaction volume data for brokerages in Georgia was sourced from RealTrends' state rankings.

Related links

How Much Does it Cost to Sell a House in Georgia? (2023 Updates!)

It costs $35,037 to sell a house in Georgia on average! Use our cost of selling a house calculator to see how much you'll pay when you sell your home.

8 Steps to Buying a House in Georgia

From saving for a down payment to reaching the closing table, learn how to navigate the key steps to buying a house in Georgia.

The Best Low Commission Realtors (2023 Broker Rankings)

Find the best low commission real estate agents and brokers, so you can sell with a full-service realtor and save thousands on commission fees!

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