Homecoin rating | Reviews | Service quality | Costs | Top competitors | Next steps | Methodology
Homecoin is a flat fee MLS (FFMLS) that charges $95 to list your home for sale on a local MLS in 16 states.
Homecoin is cheaper than many of its competitors. It’s also faster and easier to use, in part because of its online tools. The company provides tools similar to the ones real estate agents use.
If you have some experience selling real estate and you’re tech-savvy enough to harness Homecoin’s online tools, the company could be a good fit.
If you need access to expert advice, referrals, negotiating help, or any of the other invaluable services that agents provide, Homecoin could wind up costing you more than you bargained for in time and money.
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Homecoin at a glance
| Our rating | 4.3 |
|---|---|
| Homecoin reviews | 4.8 |
| Service quality | 4.3 |
| Cost | 4 |
Homecoin’s service area
Homecoin operates in the states shaded blue on the map, though it isn’t a member of every local MLS in each state it serves. If Homecoin can’t place your home on your local MLS, it will attempt to place your listing on a nearby MLS.
Homecoin vows a listing on a nearby MLS will be just as effective as one on your local MLS. In practice, the effectiveness of a listing on a nearby MLS will depend on your specific location and situation.
Homecoin reviews
Homecoin reviews are mostly positive across Google, Yelp, and Zillow.
Reviewers say the cost savings they receive vs. using an agent is Homecoin’s greatest feature. Reviewers boast of saving thousands of dollars.
Sellers, however, have to work for those savings. Homecoin generates a free comparable home sales report based on recent data from the local MLS. But sellers are responsible for analyzing their own data, deciding on a listing price, and negotiating with potential buyers.
Homecoin’s customer service gets good marks. Customers say Homecoin’s staff is accessible and helpful, providing prompt answers to questions.
Homecoin’s tech platform is also popular with customers. Homecoin reduces the time required to complete the steps involved with selling a property by bringing much of the process online. The platform sends automatic MLS updates and reminders that customers find priceless.
Homecoin also:
- Removes the need for printing, scanning, and faxing documents
- Provides online document access, including a sample MLS listing agreement, e-sign consent, and e-document delivery
- Offers email and call forwarding when potential buyers show an interest in your property
The forwarding feature isn’t as direct as some sellers would like. The software asks the interested party whether they want their call forwarded directly to the seller, leaving some room for error.
Homecoin’s service quality
Pros
- Customer service responds quickly
- Automated platform puts documents at your fingertips
- Comps allow access to pricing trends
Cons
- Must manage your own social media marketing
- The email and call forwarding feature is difficult to navigate
Homecoin meets our key basic service quality standard by scoring you a listing on the local MLS and on public real estate platforms like Zillow and Redfin. That’s the industry standard for FFMLS listings. Homecoin also allows the maximum number of photos with your listing.
» MORE: Get in the MLS with a Flat Fee MLS Listing
Homecoin stands apart from some competitors because of its digital approach and speed — your listing could appear on the MLS in a matter of hours.
Homecoin falls short of some other service quality standards, though. For instance, it caps the number of listing changes you can make at 10. We prefer unlimited changes. The listing term ends after 12 months, whether or not you’ve closed on your house.
Also, Homecoin’s service is limited to 16 states. Competing platforms like FSBO.com and Fizber are available nationwide.
Homecoin offers many bells and whistles at an extra cost as add-on services, including the option to hire a professional photographer. You can also pay a licensed agent for paperwork support.
If you want to market your listing on social media, be prepared to manage it on your own.
Homecoin costs
Pros
- Flat fee of $95 offers a great value vs. competitors
- No extra cost for unlimited photos on MLS
- No additional charge for access to comps data
Cons
- Extra cost for professional photos
- Extra cost for paperwork support
- Open-house kit is free but lacks agent or marketing support
Homecoin’s flat fee of $95 includes access to a local MLS listing for 12 months and several other features. The fee also grants you listings on real estate sites such as Realtor.com, Zillow, and Redfin, which is a common feature among flat fee MLS providers.
Homecoin’s twelve-month listing is a competitive listing term compared with FSBO.com’s six months at a similar price but falls below Beycome’s unlimited term.
» MORE: Best FSBO Sites in 2023
You’ll also get unlimited photos on the MLS. But if you want access to professional photos, you’ll have to pay.
Homecoin customers can also access as many as five real estate comp reports for no charge, so you can see real estate trends in your sales area. These reports show sale prices on similar properties that have sold, as well as neighborhood profiles and property tax information. Knowing how to apply this information to your listing will likely take practice.
The flat rate package also includes a free FSBO web page where customers can contact you directly. You get unlimited photos on this page too.
Optional Homecoin costs
Homecoin also offers several à la carte options:
- Lockbox rental for $125
- Sign-post rentals with professional installation start at $99
- Professional photos. Prices vary by location for pro-standard DSLR photos that are ready in as quickly as 24 hours and added to your direct listing.
- Paperwork assistance from a licensed agent. It’s $400–450 for the Standard package, or $3,000 for a Premium Seller package.
Homecoin vs. top competitors
| Availability | Avg. Rating | Fees | |
|---|---|---|---|
| Fizber | Nationwide | 3.9 | $295 |
| Homecoin | CA, FL, GA, MI, MO, NY, NC, SC, TN, VA, WI | 4.9 | $95+ |
| Houzeo | Nationwide | 4.9 | $199–999+ |
| Beycome | AL, CA, CT, FL, GA, MN, NC, SC | 4.4 | $99–499 + 1% |
Next steps
Homecoin is a FFMLS service that’s a great value if you’re a FSBO seller in one of the 16 states it serves.
Homecoin’s $95 flat fee plan will get your home listed on a local MLS, and it includes unlimited listing photos for a year-long listing term. However, you’ll need to decide if Homecoin meets the rest of your selling needs.
If you haven’t sold a home by yourself before or you don’t have the time to learn the responsibilities an agent usually manages, explore other options, like the low-commission real-estate service Clever Real Estate.
Methodology
We evaluated each flat fee MLS (FFMLS) and for sale by owner (FSBO) listing service based on three core criteria and created a weighted score:
Customer experience
Our evaluation:
- Aggregated customer reviews from across the web and created a weighted average rating
- Checked for complaints with the Better Business Bureau
- Checked how easy the company app or portal was to use, and how easy it was to upload and manage the listing
Service quality
FFMLS companies should provide basic services, including:
- Listing to your local MLS
- Pushing listings to sites like Zillow and Trulia
- Maximum number of photos
- Unlimited free listing changes
- Keeping a listing active until you cancel or close on your home
We noted add-on services that actually help you sell and manage your sale, like professional photography or an online dashboard. We didn’t give credit for fluffy offerings, such as video tours that are just photo montages or listings on Craigslist.
Cost
We compared pricing tiers for services with baseline national averages and other brands.