Let us help you!

ListingBidder Resources

IA Avg Real Estate Commission Rate in Cedar Rapids, Iowa

Cedar Rapids is the second-largest city in Iowa and is the county seat of Linn County. The city lies on both banks of the Cedar River, 20 miles (32 km) north of Iowa City and 100 miles (160 km) northeast of Des Moines, the state's capital and largest city. It is a part of the Cedar Rapids/Iowa City Corridor of Linn, Benton, Cedar, Jones, Johnson, and Washington counties.

As of the 2010 United States Census, the city population was 126,326. The estimated population of the three-county Metropolitan Statistical Area, which includes the nearby cities of Marion and Hiawatha, was 255,452 in 2008. Cedar Rapids is an economic hub of the state, located in the core of the Interstate 380.

A flourishing center for arts and culture in Eastern Iowa, the city is home to the Cedar Rapids Museum of Art, the National Czech & Slovak Museum & Library, the Paramount Theatre, Orchestra Iowa, Theatre Cedar Rapids, the African-American Historical Museum and Cultural Center of Iowa, the Iowa Cultural Corridor Alliance. In the 1990s and 2000s, several Cedar Rapidians became well-known actors, including Bobby Driscoll, Ashton Kutcher, Elijah Wood, and Ron Livingston. The city is the setting for the musical The Pajama Game and the comedy film Cedar Rapids.

Among the famous people who have lived in Cedar Rapids are American Gothic painter Grant Wood, journalist and historian William L. Shirer, writer and photographer Carl Van Vechten, and aerodynamics pioneer Dr. Alexander Lippisch. The area has also produced professional athletes such as Landon Cassill, Ryan Sweeney, Trent Green, Zach Johnson, and Kurt Warner, as well as Mark Walter, co-owner and chairman of baseball's Los Angeles Dodgers.

Cedar Rapids is nicknamed the "City of Five Seasons", for the "fifth season", which is time to enjoy the other four. The symbol of the five seasons is the Tree of Five Seasons sculpture in downtown along the north river bank. The name "Five Seasons" and representations of the sculpture appear throughout the city in many forms.

 

Cedar Rapids, Iowa 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 Cedar Rapids, Iowa. 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 Cedar Rapids, Iowa, 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 Iowa, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Cedar Rapids $154,500 -1.60%
Davenport-Moline-Rock Island, IA-IL $129,500 3.20%
Des Moines-West Des Moines $196,600 4.60%
Omaha-Council Bluffs, NE-IA $180,500 6.30%
Waterloo-Cedar Falls $126,300 1.30%
 
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 Iowa.

 

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 126,326 people, 53,236 households, and 30,931 families residing in the city. The population density was 1,784.3 people per square mile (688.9/km²). There were 57,217 housing units at an average density of 808.2 per square mile (312.0/km²). The racial makeup of the city was 87.98% White, 5.58% African American, 0.31% Native American, 2.21% Asian, 0.12% Pacific Islander, 0.93% from other races, and 2.87% from two or more races. Hispanic or Latino of any race were 3.31% of the population.

There were 53,236 households of which 28.9% had children under the age of 18 living with them, 42.8% were married couples living together, 11.0% had a female householder with no husband present, and 41.9% were non-families. 32.5% of all households were made up of individuals and 10.3% 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 2.95.

Age spread: 23.5% under the age of 18, 11.2% from 18 to 24, 27.4% from 25 to 44, 24.8% from 45 to 64, and 13.1% who were 65 years of age or older. The median age was 35.3 years. For every 100 females there were 96.6 males. For every 100 females age 18 and over, there were 94.4 males.

 

ECONOMY:

Cedar Rapids is one of the largest cities in the world for corn processing. The grain processing industry is Cedar Rapids' most important sector, directly providing 4,000 jobs that pay on average $85,000, and also providing 8,000 indirectly. Fortune 500 company Rockwell Collins and trucking company CRST are based in Cedar Rapids, and Aegon has its United States headquarters there. A large Quaker Oats mill, one of the four that merged in 1901 to form Quaker Oats, dominates the north side of downtown. Other large companies that have facilities in Cedar Rapids include Archer Daniels Midland, Cargill, General Mills, Toyota Financial Services and Nordstrom. Newspaperarchive, based in Cedar Rapids, is the largest newspaper archive in North America with a repository of more than 150 million pages assembled over 250 years; it was taken offline for two days by the 2008 flood.

Top employers

According to Cedar Rapids' 2014 Comprehensive Annual Financial Report, the top employers in the area are:

# Employer Employees
1 Rockwell Collins 8,700
2 Transamerica 3,872
3 St. Luke's Hospital 3,184
4 Cedar Rapids Community School District 2,936
5 Hy-Vee 2,599
6 Mercy Medical Center 2,312
7 Kirkwood Community College 1,895
8 City of Cedar Rapids 1,311
9 Nordstrom 1,200
10 Quaker Oats 1,018

 

*Data provided by Bankrate.com - Real Estate and Wikipedia - Cedar Rapids - Iowa