Richr: Does the MLS Service Save You Money?

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  Written by Jon Stubbs

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  Edited by Andrew Whytock

Should I use Richr? | How does Richr compare? | How it works | Costs | Locations | Customer reviews of Richr | FAQs

Richr is a Florida real estate company that will list your home on the MLS, an online database where buyers and their agents search for homes. Its listing services cover more than 750 websites, including Zillow, Redfin, Trulia, and Realtor.com.

MLS services like Richr are typically used by homeowners who are selling without the help of an agent, as real estate agents include MLS listings as part of their services.

Richr’s service is free to start, but you’ll pay 1% of the sale price at closing. Other companies offering similar MLS services charge a flat fee upfront. Flat-fee MLS service fees range from $100–1,000, depending on the level of service provided. That’s much less expensive than Richr’s 1% fee, which works out to $3,500 on a $350,000 home. In this way, Richr’s fee is more like typical agent commission.

Whether you’re comparing it to other flat fee MLS companies or a traditional sale with a Realtor, Richr’s 1% fee isn’t a good deal.

If you’re looking to save money on commission, consider our friends at Clever Real Estate, who match sellers with top local listing agents for about half the typical real estate commission. For 1.5%, you could have an experienced agent by your side and get your home listed on the same websites. Plus, your Clever agent can give you a FREE home valuation so you know what a fair price would be.

Should I use Richr?

If you’re trying to sell your home yourself and just need to be listed on the MLS, you’re better off paying a lower cost to another service.

Richr has some benefits over similar services—you don’t have to pay upfront and it pays for your title settlement fees—but the cost doesn’t justify using Richr if you want to save by going the For Sale By Owner route. 

Richr does let you wait until you sell the home before charging the fee, but it’s a big premium to pay just to delay the cost until later. If postponing the cost is your priority, you might as well use a 1% commission agent, who would also wait until the home sells before expecting payment. 

Richr is less expensive than hiring an agent who works for 2–3%, but it’s considerably more expensive than other MLS listing services. 

Most MLS-only services in Florida charge a flat fee of about $100–1,000 upfront — much cheaper than Richr’s 1% fee, which would equal $3,000 on a $300,000 home. 

Even when you take into account that Richr pays the title settlement fee (about $300–600 in Florida), its fee will still end up costing you more money in the long run.

Should I sell without an agent?

Before comparison shopping between MLS listing services, you should be sure that you’re prepared to sell your home on your own.

For Sale By Owner (FSBO) is a route you should only take if you have some experience selling a home. 

Keep in mind, you’ll be responsible for everything an agent would usually do, including:

• Showings
• Open houses
• Photography
• Listing descriptions
• Marketing
• Pricing
• Contract negotiations
• Legal paperwork

Going FSBO might mean selling for a lower price in the end, too. Research from the Collateral Analytics shows that FSBO homes sell for an average of 5.5% less than comparable homes listed on the MLS.¹Source:Collateral Analytics. 'Saving Real Estate Commissions at Any Price.' Aug. 16, 2017. https://collateralanalytics.com/saving-real-estate-commissions-at-any-price/

If you want to save money without sacrificing the experience of an agent, Clever can match you with an agent for $3,000, or 1.5%. That means you could have a full-service agent on your side for the same cost as Richr’s MLS services.

How does Richr compare to competitors?

Many of the top-rated flat-fee MLS companies in Florida charge $100–1,000 to list your home on the MLS. 

Unlike Richr, you’ll have to pay whether the home sells or not, but it will only cost a few hundred dollars. That’s much less than Richr’s 1% fee, which would be $3,500 on a $350,000 home.

Most flat-fee MLS companies have 3–4 packages available, with additional features available as you pay more. Richr only has one package, which is similar in scope to other companies’ most expensive package that includes premium services, such as negotiation and pricing support. 

How Richr works

Richr lists your home on the Florida MLS, which includes over 750 websites, including Zillow, Redfin, Trulia, and Realtor.com. It’s simple to get started online at home. 

1. Complete an online questionnaire about your home. This takes about 5 minutes. The form will automatically prepopulate your listing with available public information. You can also upload photos. 
2. A broker will review the listing. They’ll also provide a free comparative market analysis (CMA) that will give you a good idea on how to price your home. 
3. Schedule home showings and open houses on your own schedule. Agents with potential buyers will contact you directly as your phone number will be attached to your MLS listing. Buyers reaching out from Zillow, Realtor.com, Trulia, etc. will be sent your contact details. 
4. Sell the home. At closing, you’ll pay Richr’s 1% fee. Richr will pay the title settlement fee, which will be about $300–600. 

What does Richr cost?

Richr costs 1% of the home’s sale price, which is due at closing. You don’t need to pay upfront, and you can cancel anytime without penalty, so you only pay if you sell.  

Here’s how much Richr would cost to use for a home that sells for $350,000, compared to other options. We’ll compare Richr to a higher-cost premium flat-fee MLS service, since Richr includes premium-level services such as negotiation support.

If you’re selling on your own, you’ll save on listing agent commission, but you should still offer buyer’s agent commission to entice agents to bring buyers to your home. The average buyer’s agent commission in Florida is currently 2.70%.

Where is Richr available?

Richr lists homes in most of Florida, including:

• Fort Lauderdale
• Jacksonville
• Miami
• Orlando
• Panama City
• Tampa

Richr reviews from customers

Richr has overwhelmingly positive reviews on Google, with an average of 5/5 across 113 reviews. Nearly all of the reviews are 5-star reviews, with no negative reviews. 

While the reviews for Richr are positive, it’s important to remember that these reviews are for Richr’s services, not the overall For Sale By Owner process. Sellers who are comfortable with FSBO will get the most out of Richr and similar MLS companies. If you are not prepared to sell a home yourself, even the best MLS listing service won’t replace the advice of a full-service agent. 

Provided helpful expertise

One reviewer wrote that Richr was with them every step of the way throughout the process offering help and guidance. Richr reps also walked them through the closing documents and registered the new deed. 

Reps are responsive and knowledgeable

Another reviewer said that Richr always responded quickly to questions about the listing, even on nights and weekends. When the buyer agent wanted specific forms used, Richr provided the current Florida forms to complete.  Richr followed up throughout the listing process to see if they needed any other support and helped track the sale to settlement. 

Richr helped sellers save on commission

The reviews for Richr are full of customers happy with the money Richr saved them on commissions. One reviewer mentioned they saved $25,000 on listing commissions. While these savings are easy to calculate after closing, it’s difficult to know if the home would have sold for more with the help of an experienced agent.

Frequently asked questions

Recommended Reading

Flat Fee MLS Listing Companies: Everything You Need to Know: Find out if you can really save money by using a flat-fee MLS company to help sell your home without an agent.

5 Best Flat-Fee MLS Companies in Florida: Looking for other MLS Companies to compare? We’ve complied a list of the best in Florida.

Selling a House without a Realtor in Florida: Find out if selling a home without a listing agent is the right move for you.