Let us help you!

ListingBidder Resources

IL Avg Real Estate Commission Rate in Bloomington, Illinois

Bloomington is a city in and the county seat of McLean County, Illinois, United States. It is adjacent to Normal, and is the more populous of the two principal municipalities of the Bloomington-Normal metropolitan area.

The 2010 census showed the city had a population of 76,610, making it the 12th most populated city in Illinois, and the fifth-most populous city in the state outside the Chicago Metropolitan Area. Combined with Normal, the twin cities have a population of roughly 130,000.

 

Bloomington, Illinois Average Real Estate Agent Commission 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 Bloomington, Illinois. 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 Bloomington, Illinois, 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 Illinois, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Bloomington $156,700 2.00%
Cape Girardeau $146,500 -1.50%
Champaign-Urbana $152,300 4.90%
Chicago-Naperville-Elgin, IL-IN-WI $264,300 7.30%
Davenport-Moline-Rock Island, IA-IL $129,500 3.20%
Decatur $107,400 12.30%
Kankakee $128,400 -5.30%
Peoria $125,900 4.50%
Rockford $122,500 12.40%
St. Louis, MO-IL $174,000 2.20%
Springfield $129,800 -9.30%
 
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 Illinois.

 

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 76,610 people and 30,454 households within the city. The population density was 2,814.8 people per square mile (1,099.5/km²). There were 34,339 housing units at an average density of 1,261.5 per square mile (492.8/km²). The racial makeup of the city was 77.5% White, 10.1% African American, 0.3% Native American, 7.0% Asian, 1.42% from other races, and 2.9% from two or more races. Hispanic or Latino of any race were 5.6% of the population.

The City of Bloomington and McLean County comprise the fastest-growing metropolitan area in Illinois. The area's population has grown 28% from 1990 through 2006. The fastest growth has been in Bloomington, as the U.S. Census Bureau conducted a special census of that city in February, 2006, showing a population of 74,975, a 15.7% increase in less than six years.

In 2010, there were 34,339 households out of which 28.8% had children under the age of 18 living with them, 46.7% were married couples living together, 9.1% had a female householder with no husband present, and 41.1% were non-families. 32.6% of all households were made up of individuals and 9.2% had someone living alone who was 65 years of age or older. The average household size was 2.41 and the average family size was 3.12.

In the city, the population was spread out with 27.3% under the age of 20, 9.0% from 18 to 24, 29.8% from 25 to 45, 23.8% from 45 to 64, and 10.2% who were 65 years of age or older. The median age was 33 years. For every 100 females, there were 95.4 males.

The median income for a household in the city was $58,662, and the median income for a family was $81,166. Males had a median income of $56,597 versus $39,190 for females. The per capita income for the city was $32,672. About 5.7% of families and 11.0% of the population were below the poverty line, including 12.6% of those under age 18 and 6.3% of those age 65 or over.

 

ECONOMY:

According to Bloomington's 2016 Comprehensive Annual Financial Report the area's top employers are:

# Employer Employees
1 State Farm Insurance 14,282
2 Illinois State University 3,220
3 Country Financial 1,910
4 Unit 5 School District 1,654
5 Advocate Bromenn Medical Center 1,402
6 OSF St. Joseph Medical Center 1,364
7 McLean County 829
8 Afni 765
9 Bloomington School District 87 657
10 Heritage Enterprises 596

Bloomington is also home to a convention center at the McLean County Fairgrounds, Grossinger Motors Arena, and Beer Nuts.

*Data provided by Bankrate.com - Real Estate and Wikipedia - Bloomington - Illinois