When weighing your options, keep in mind that the traditional 5-6% commission is split between the buyer's agent and the listing agent. So, if you use a low-commission listing agent, you may also have to pay a buyer's agent fee.

For example, Redfin, one of the most well-known discount brokerages, charges sellers a 1.5 percent listing fee (or a 1 percent listing fee if they also buy their next home from a Redfin agent). This does not include the buyer's agent fee, which is typically between 2.5 and 3 percent.

This would imply that you would pay closer to 4%-4.5% of the home's sales price in total commission, which could still represent thousands of dollars in savings over traditional commissions.

Some discount brokerages, on the other hand, charge a flat fee rather than a percentage of the sale. Houwzer, based in Philadelphia, charges sellers $5,000 plus a 2.5 percent commission for the buyer's agent.

Real estate agents at large national brokerages may also be willing to lower their fees if you use a referral service. Clever is an example of this type of agency, which negotiates with agents to offer a flat fee of $3,000 or a 1% commission on homes that sell for more than $350,000 (plus the buyer's agentfee).