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IL Avg Real Estate Commission Rate in Champaign, Urbana, Illinois

Champaign is a city in Champaign County, Illinois, United States. The city is 135 miles (217 km) south of Chicago, 124 miles (200 km) west of Indianapolis, Indiana, and 178 mi (286 km) northeast of St. Louis, Missouri. The United States Census Bureau estimates the city was home to 84,513 people as of July 1, 2014. Champaign is the tenth-most populous city in Illinois, and the state's fourth-most populous city outside the Chicago metropolitan area. It is included in the Champaign–Urbana metropolitan area.

Champaign is notable for sharing the campus of the University of Illinois at Urbana–Champaign with its sister city of Urbana. Champaign is also home to Parkland College which serves about 18,000 students during the academic year. Due to the university and a number of well known technology startup companies, it is often referred to as the hub, or a significant landmark, of the Silicon Prairie. Champaign houses offices for Sony, and for the Fortune 500 companies Abbott, Archer Daniels Midland (ADM), Caterpillar, Deere & Company, Dow Chemical Company, IBM, and State Farm.

 

Champaign, Urbana, 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 Champaign-Urbana, 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 Champaign, Urbana, 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 2010 census, 81,055 people and 34,434 total housing units in Champaign. The population density was 3,974.6 people per square mile (1,534.4/km²). There were 28,556 housing units at an average density of 1,681.0 per square mile (648.9/km²). The racial makeup of the city was 67.8% White, 15.62% African-American, 0.3% Native American, 10.6% Asian, 0.1% Pacific Islander, 2.7% from other races, and 3% from two or more races. Hispanic or Latino individuals of any race made up 6.3% of the population.

According to the 2010 Census the city's 32,152 households, 21.5% included children under age 18, 33.1% were married couples living together, 10.0% had a female householder with no husband present, and 53.7% were non-families. 35.9% of all households were made up of individuals, and 6.3% had someone living alone who was 65 years of age or older. The average household size was 2.25 persons and the average family size was 2.97.

According to the 2010 Census of all individuals, 17.3% were under age 18, 22.5% from 20 to 24, 25.8% from 25 to 44, 18% from 45 to 64, and 7.6% were age 65 or older. The median age was 25.7 years. For every 100 females there were 102.7 males. For every 100 females age 18 and over, there were 101.9 males.

According to the 2010 Census the median income for a household in the city was $41,403, and the median income for a family was $72,819. The per capita income for the city was $24,855. About 11.9% of families and 26.3% of the population were below the poverty line, including 24.0% of those under age 18 and 7.6% of those age 65 or over.

 

ECONOMY:

In addition to the University of Illinois, Champaign is also home to Parkland College. Herff Jones, formerly the Collegiate Cap and Gown, and Kraft also form part of the city's industrial base.

Champaign is also home to nationally recognized record labels, artist management companies, booking agencies and recording studios. Polyvinyl Records, Undertow Music, Parasol Records, Great Western Record Recorders, Pogo Studios, and Nicodemus Booking Agency are all based in Champaign.

In April 2011, the Christian Science Monitor named Champaign-Urbana one of the five cities leading the economic turnaround based on jobs; the information sector added over 300 jobs within a year and unemployment dropped 2.1%.

Research Park

The city also features a large technology and software industry mostly focusing on research and development of new technologies. The Research Park, located in southern Champaign and backed by the University of Illinois, is home to many companies, including Riverbed Technology, Citrix Systems, Abbott Laboratories, Dow Innovation Center, Intelligent Medical Objects, Yahoo! and the State Farm Research Center. Numerous other software and technology companies also have offices in Champaign including AMD, Intel, IBM, Amdocs, Infobright, Instarecon, Phonak, Power World, Caterpillar Simulation Center, and Volition. The largest high technology employer is Wolfram Research, with more than 400 employees in Champaign. The United States Army Corps of Engineers maintains the Construction Engineering Research Laboratory (CERL) in Champaign.

Top employers

 
The Illini Union at the University of Illinois at Urbana–Champaign. The university is the city's top employer.
 

According to the Champaign County Economic Development Corporation, the top ten employers in the city are:

# Employer # of Employees
1 University of Illinois at Urbana–Champaign 13,857
2 Carle Hospital 6,386
3 Champaign Unit 4 School District 1,624
4 Kraft Heinz 1,025
5 Champaign County 923
6 Christie Clinic 911
7 Urbana School District #116 830
8 Presence Health 803
9 Plastipak 780
10 Parkland College 707

Other major employers include FedEx, Horizon Hobby, Jimmy John's, SuperValu, and Wolfram Research.

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