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OH Avg Real Estate Commission Rates in Akron, Ohio

Akron is the fifth-largest city in the U.S. state of Ohio and is the county seat of Summit County. It is located on the western edge of the Glaciated Allegheny Plateau, approximately 39 miles (63 km) south of Lake Erie.

As of the 2015 Census Estimate, the city proper had a total population of 197,542, making it the 119th largest city in the United States. The Akron, OH Metropolitan Statistical Area (MSA) covers Summit and Portage counties, and in 2010 had a population of 703,200. It is also part of the larger Cleveland-Akron-Canton, OH Combined Statistical Area, which in 2013 had a population of 3,501,538, ranking 15th.

Co-founded along the Little Cuyahoga River in 1825 by Simon Perkins and Paul Williams, it was chosen as a strategic point at the summit of the developing Ohio and Erie Canal. The name derived from the Greek word "ἄκρον" signifying a summit or high point. Due to Eliakim Crosby founding "North Akron" (Cascade) in 1833, "South" was added to its name until the two merged into an incorporated village in 1836. Neighboring settlements Kenmore and Ellet became annexed in 1929. Residents of the city are called "Akronites". It has had many nicknames, three of which are "Rubber Capital of the World", "Rubber City" and "City of Invention".

Akron became a manufacturing center owing to its location on the canal, as well as being connected to numerous others and railroad lines. With Goodyear, Gojo Industries, FirstEnergy, Huntington Bank (formerly known as FirstMerit Corporation), and Charter Spectrum among its employers, its economy has diversified sectors that include manufacturing, education, healthcare, and biomedical.

The city is home to the All-American Soapbox Derby, WGC-Bridgestone Invitational, Stan Hywet Hall and Gardens, Akron City Hospital (known for LeBron James and Stephen Curry), the Goodyear Polymer Center, and Alcoholics Anonymous (AA). It is also the former home of Goodrich, Firestone, General Tire, the National Inventors Hall of Fame, National Marble Tournament, Professional Bowlers Association, Women's Professional Mud Wrestling, and first National Football League Champions the Akron Pros.

Notable historical events that occurred in the city include the Akron School Law of 1847 creating the K-12 system, and Sojourner Truth giving her Ain't I A Woman? speech in 1851. Resident Ferdinand Schumacher supplied the Union Army with quaker oats during the American Civil War. The popularization of the church architectural Akron Plan, the goiter prevention iodized salt Akron Experiment, City of Akron v. Akron Center for Reproductive Health, and portions of the 2014 Gay Games also occurred. Akron is known for the rubber, tire, and airship industries among others, including the trucking, stoneware, sewer pipe, fishing tackle, farming equipment, mining, match, zipper, and toy industries. With a population increase of 201.8% during the 1910s, it became the country's fastest-growing city. Three major civil unrest events took place during the riot of 1900, rubber strike of 1936, and the Wooster Avenue riots of 1968. Dr. W.E.B. Du Bois (1920) and President Bill Clinton (1997) gave speeches on race relations in the city. While visiting during August 1914, Marcus Garvey founded the Universal Negro Improvement Association (UNIA). In 1971, James R. Williams founded Alpha Phi Alpha Homes Inc. to build the Channelwood Village area of Akron. In 2008, 91-year-old resident Addie Polk became the poster child of the financial crisis of 2007–2010 after shooting herself moments before law enforcement were going to remove her from the foreclosed house. During a 2016 march on West Market Street, purple heart Vietnam War veteran Kenn Gilchrist set himself on fire in protest of Donald Trump's presidential election victory.

Notable criminal history includes mobster Rosario Borgio headquartering the area's black hand operations, and Pretty Boy Floyd's Walker-Mitchell mob's activities. Though Akron was part of the Underground Railroad while active, the city was also part of the country's largest local chapter of the Ku Klux Klan having many city officials as members which Wendell Willkie successfully opposed before becoming the 1940 Republican nominee for President. It also saw abolitionist John Brown as a resident with his house now as a landmark. The county has been nicknamed the "Meth Capital of Ohio", ranking third in the nation for number of registered meth sites, mainly due to Akron.

 

Akron, Ohio Average Real Estate Agent Commisison Rate Fees:

A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Akron, Ohio. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!

The national average total real estate commission in 2015 was 5.26% *

In Akron, Ohio, you will find the following real estate commissions charged*:

Typical Asking Commission: 6.0%

Competitive Commission: 5.0%-5.5%%

Very Competitive Commission: 4.5%-4.99%

The median existing single-family home price in the Midwest rose 6.6%, to $204,000, in the second quarter of 2017 compared to the the second quarter of 2016.  Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:

In the State of Ohio, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Akron $139,400 6.30%
Canton-Massillon $131,000 2.20%
Cincinnati $168,600 5.00%
Cleveland-Elyria $144,800 4.90%
Columbus $197,700 8.80%
Dayton $141,800 2.20%
Toledo $127,600 2.00%
Youngstown-Warren-Boardman, OH-PA $87,000 1.90%
 
IMPORTANT

Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home.  In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).

In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent.  Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”.  This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client.  This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).

When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.

 

AGENTS ARE READY TO BID THEIR COMMISSION RATE TO GET YOUR LISTING

At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business.  These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm.  This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in Ohio.

 

ARE YOU BUYING IN THE SAME AREA, TOO?

Sellers who are also buying a home in the same local market have a volume discount advantage.  ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home.  Be sure to check the box that you are also buying a home locally to receive these better rates.

 

ARE YOU READY TO RECEIVE COMPETITIVE COMMISSION RATE BIDS?

Click here to see your savings in just 24 hours…

 

DEMOGRAPHICS:

As of the census of 2010, there were 199,110 people, 83,712 households, and 47,084 families residing in the city. The population density was 3,209.9 inhabitants per square mile (1,239.3/km2). There were 96,288 housing units at an average density of 1,552.3 per square mile (599.3/km2). The racial makeup of the city was 62.2% White, 31.5% African American, 0.2% Native American, 2.1% Asian, 0.8% from other races, and 3.2% from two or more races. Hispanic or Latino of any race were 2.1% of the population. Non-Hispanic Whites were 61.2% of the population, down from 81.0% in 1970.

There were 83,712 households, of which 28.8% had children under age 18 living with them, 31.3% were married couples living together, 19.5% had a female householder with no husband present, 5.5% had a male householder with no wife present, and 43.8% were non-families. 34.8% of all households were made up of individuals and 10.8% had someone living alone who was 65 years of age or older. The average household size was 2.31 and the average family size was 2.98.

The median age in the city was 35.7 years. 22.9% of residents were under age 18; 12.4% were between 18 and 24; 25.9% were from 25 to 44; 25.9% were from 45 to 64; and 12.6% were 65 or older. The gender makeup of the city was 48.3% male and 51.7% female.

 

ECONOMY:

Many industries in the United States either began or were influenced by the city. After beginning the tire and rubber industry during the 20th century with the founding of Goodrich, Firestone, General Tire, also the Goodyear merger with The Kelly-Springfield Tire Company gained the status of, "Rubber Capital of the World". Akron has won economic awards such as for City Livability and All-American City, and deemed a high tech haven greatly contributing to the Information Age. Current Fortune 500 companies headquartered in the city include the Goodyear Tire and Rubber Company and FirstEnergy. In addition, the city is the headquarters to a number of other notable companies such as GOJO, Advanced Elastomer Systems, Myers Industries, Acme Fresh Market and Sterling Jewelers. Goodyear, America's biggest tire manufacturer and the fifth-largest private employer in Summit County, recently built a new world headquarters in the city. The project, Akron Riverwalk, will feature a large retail and commercial development area. The project began in 2007, but was put on hold because of the financial crisis of 2007–2010, and is now continuing. Bridgestone built a new technical center with state-of-the-art R&D labs, and relocated its product development operations to the new facility in early 2012. The Eastern Ohio Division of KeyBank, which has six branches in the city, built a regional headquarters downtown. The city has a free WiFi corridor centered in downtown. Neighborhoods in range include Goodyear Heights, East Akron, North Hill, Firestone Park, Kenmore, and West Akron.

*Data provided by Bankrate.com - Real Estate and Wikipedia - Akron - Ohio