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TN Avg Real Estate Commission Rate in Chattanooga, Tennessee

Chattanooga is a city in the U.S. state of Tennessee, with a population of 177,571 in 2016. The fourth-largest Tennessee city, it is the seat of Hamilton County. Located in southeastern Tennessee, on the Tennessee River, served by multiple railroads and Interstate highways, Chattanooga is a transit hub. Chattanooga lies 120 miles (190 km) northwest of Atlanta, Georgia, 120 miles (190 km) southwest of Knoxville, Tennessee, 135 miles (217 km) southeast of Nashville, Tennessee, 120 miles (190 km) northeast of Huntsville, Alabama, and 148 miles (238 km) northeast of Birmingham, Alabama.

The city, with a downtown elevation of approximately 680 feet (210 m), lies at the transition between the ridge-and-valley portion of the Appalachian Mountains and the Cumberland Plateau. Surrounded by mountains and ridges, the official nickname for Chattanooga is the Scenic City, reinforced by the city's reputation for outdoor activities. Unofficial nicknames include River City, Chatt, Nooga, Chattown, and Gig City, referencing Chattanooga's claims that it has the fastest internet service in the Western Hemisphere.

Chattanooga is internationally known for the 1941 song "Chattanooga Choo Choo" by Glenn Miller and his orchestra.

Chattanooga is home to the University of Tennessee at Chattanooga (UTC) and Chattanooga State Community College.

The city has its own typeface, Chatype, which was launched in August 2012. According to the Nooga.com website, this marks the first time that an American city has its own custom-made typeface and also the first time a crowd-funded custom-made typeface has been used for any municipality in the world.

 

Chattanooga, Tennessee 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 Chattanooga, Tennessee. 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 Chattanooga, Tennessee, 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 South rose 6.7%, to $229,400, 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 Tennessee, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Chattanooga $178,300 6.50%
Knoxville $178,400 6.40%
Memphis $171,500 6.70%
Nashville-Davidson-Mufreesboro-Franklin $248,500 9.50%
 
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 Tennessee.

 

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 167,674 people, 70,749 households, and 40,384 families residing in the city. The population density was 1,222.5 people per square mile (472.5/km²). There were 79,607 housing units at an average density of 588.8 per square mile (226.0/km²). The racial makeup of the city was 58.0% White, 34.9% Black, 2.0% Asian, 0.4% American Indian, 0.1% Pacific Islander, 2.8% from other races, and 1.9% from two or more races. Persons of Hispanic or Latino origin (regardless of race) comprised 5.5% of the total population. Non-Hispanic Whites were 55.9% of the population in 2010, down from 67.3% in 1980. There were 70,749 households out of which 26.7% had children under the age of 18 living with them, 36% were married couples living together, 17.3% had a female householder with no husband present, and 42% were non-families. 33.5% of all households were made up of individuals and 26% had someone living alone who was 65 years of age or older. The average household size was 2.26 and the average family size was 2.94.

In the city, the population was spread out with 21.3% under the age of 18, 11.5% from 18 to 24, 27% from 25 to 44, 25.5% from 45 to 64, and 14.7% who were 65 years of age or older. The median age was 38.1 years. 46.1% of the population was male and 53.9% of the population was female.

The median income for a household in the city was $35,817, and the median income for a family was $43,314. Males had a median income of $36,109 versus $31,077 for females. The per capita income for the city was $23,756. About 14% of families and 16.5% of the population were below the poverty line, including 27% of those under age 18 and 13.8% of those age 65 or over.

Chattanooga's Metropolitan Statistical Area, which includes Hamilton, Marion, and Sequatchie counties in Tennessee and Catoosa, Dade, and Walker counties in Georgia, grew from 476,531 people, as of the 2000 census, to 529,222 people, as of the 2010 census, an 11% increase during the 2000s.

 

ECONOMY:

Chattanooga's economy includes a diversified and growing mix of manufacturing and service industries.

Notable Chattanooga businesses include Access America Transport, BlueCross BlueShield of Tennessee, CBL & Associates, The Chattanooga Bakery, Chattem, the world's first Coca-Cola bottling plant, Coker Tire, U.S. Xpress Inc., Covenant Transport, Double Cola, CraftWorks Restaurants & Breweries, Luken Communications, Miller & Martin, the National Model Railroad Association, Reliance Partners, Republic Parking System, Rock/Creek, Tricycle Inc., and Unum. The city also hosts large branch offices of Cigna, AT&T, T-Mobile USA, and UBS. McKee Foods Corporation, the maker of nationally known Little Debbie brand snack cakes, is a privately held, family-run company headquartered in nearby Collegedale, Tennessee.

Notable companies that have manufacturing or distribution facilities in the city include Alstom, Amazon.com, BASF, DuPont, Invista, Komatsu, Rock-Tenn, Plantronics, Domtar, Norfolk Southern, Ferrara Candy Company (manufacturer of Brach's candies), Alco Chemical, Colonial Pipeline, and Buzzi Unicem. The William Wrigley Jr. Company has a prominent presence in Chattanooga, the sole site of production of Altoids breath mint products since 2005. There is also a Vulcan Materials quarry in the vicinity of the city.

In May 2011, Volkswagen Group of America inaugurated its Chattanooga Assembly Plant. The $1 billion plant, opened in May 2011, serves as the group's North American manufacturing headquarters. The plant, which currently employs some 2,700 people and will increase by another 2,000 people within the next few years and manufactures the Passat (since April 2011) and the Atlas (from late 2016), will have a first-in-the-South full research and development center in downtown Chattanooga, employing some 200 engineers. The plant is the first one in the United States for Volkswagen since the 1988 closure of the Volkswagen Westmoreland Assembly Plant near New Stanton, Pennsylvania.

In addition to corporate business interests, there are many retail shops in Chattanooga, including two shopping malls: Hamilton Place Mall in East Brainerd and Northgate Mall in Hixson. Eastgate Mall in Brainerd used to be a shopping mall, but has changed into a multi-use office building. The P.F. Chang's restaurant at Hamilton Place Mall has had a unique theme since the restaurant opened in November 2006: water, based on the fundamental role the Tennessee River plays in Chattanooga and the fact that the CEO of P.F. Chang's since 2000, Richard Federico, is a 1976 alumnus of the University of Tennessee and has family in Chattanooga. In December 2001, Chattanooga was the site of the first two Dairy Queen Grill and Chill restaurants in the United States.

Tourism and Hospitality has been a growing part of Chattanooga's economy, with 2014 being the first year for Hamilton County to surpass $1 billion in revenue.

Startups have been an increasing trend, due in part to EPB's fiber optic grid. Notable venture firms based in the city are Blank Slate Ventures, Chattanooga Renaissance Fund, Lamp Post Group, SwiftWing Ventures, and The Jump Fund. The city is served by several incubators, notably Co.Lab, the Business Development Center, and Lamp Post Group. The Business Development Center is among the nation's largest incubators, both in square footage and in the number of startups that it supports. Co-working spaces have picked up downtown, including Society of Work and Chattanooga Workspace. Unique in the city is the startup accelerator Gigtank, which utilizes the city's gigabit capacities and focuses on 3D printing, healthcare, and smartgrid technologies. Notable startups include Quickcue (acquired by OpenTable in 2013), Reliance Partners, PriceWaiter, Bellhops Moving Help, Variable Inc. (NODE), Ambition, Feetz, and TransCard. Chattanooga went from zero investable capital in 2009 to over $50 million in 2014.

*Data provided by Bankrate.com - Real Estate and Wikipedia - Chattanooga - Tennessee