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OH Avg Real Estate Commission Rate in Cleveland, Elyria, Ohio

Cleveland is a city in the U.S. state of Ohio, and the county seat of Cuyahoga County, the state's second most-populous county. Located along Lake Erie, the city proper has a population of 388,072, making Cleveland the 51st largest city in the United States, and the second-largest city in Ohio after Columbus. Greater Cleveland ranked as the 32nd-largest metropolitan area in the United States, with 2,055,612 people in 2016. The city anchors the Cleveland–Akron–Canton Combined Statistical Area, which had a population of 3,515,646 in 2010 and ranks 15th in the United States.

The city is located on the southern shore of Lake Erie, approximately 60 miles (100 kilometers) west of the Pennsylvania state border. It was founded by European Americans in 1796 near the mouth of the Cuyahoga River. It became a manufacturing center due to its location on the river and the lake shore, as well as being connected to numerous canals and railroad lines. Cleveland's economy has diversified sectors that include manufacturing, financial services, healthcare, and biomedical. Cleveland is also home to the Rock and Roll Hall of Fame.

Residents of Cleveland are called "Clevelanders". Cleveland has many nicknames, the oldest of which in contemporary use being "The Forest City".

 

Cleveland, Elyria, Ohio 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 Cleveland, Elyria, 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 Cleveland, Elyria, 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 396,698 people, 167,490 households, and 89,821 families residing in the city. The population density was 5,107.0 inhabitants per square mile (1,971.8/km2). There were 207,536 housing units at an average density of 2,671.0 per square mile (1,031.3/km2). The racial makeup of the city was 53.3% African American, 37.3% White, 0.3% Native American, 1.8% Asian, 4.4% from other races, and 2.8% from two or more races. Hispanic or Latino of any race were 10.0% of the population.

There were 167,490 households of which 29.7% had children under the age of 18 living with them, 22.4% were married couples living together, 25.3% had a female householder with no husband present, 6.0% had a male householder with no wife present, and 46.4% were non-families. 39.5% of all households were made up of individuals and 10.7% had someone living alone who was 65 years of age or older. The average household size was 2.29 and the average family size was 3.11.

The median age in the city was 35.7 years. 24.6% of residents were under the age of 18; 11% were between the ages of 18 and 24; 26.1% were from 25 to 44; 26.3% were from 45 to 64; and 12% were 65 years of age or older. The gender makeup of the city was 48.0% male and 52.0% female.

 

ECONOMY:

Cleveland's location on the Cuyahoga River and Lake Erie has been key to its growth. The Ohio and Erie Canal coupled with rail links helped establish the city as an important business center. Steel and many other manufactured goods emerged as leading industries.

The city diversified its economy in addition to its manufacturing sector. Cleveland is home to the corporate headquarters of many large companies such as Applied Industrial Technologies, Cliffs Natural Resources, Forest City Enterprises, NACCO Industries, Sherwin-Williams Company and KeyCorp. NASA maintains a facility in Cleveland, the Glenn Research Center. Jones Day, one of the largest law firms in the US, began in Cleveland. In 2007, Cleveland's commercial real estate market experienced rebound with a record pace of purchases, with a housing vacancy of 10%.

 

 
Downtown Cleveland from the Superior Viaduct
 

The Cleveland Clinic is the city's largest private employer with a workforce of over 37,000 as of 2008. It carries the distinction as being among America's best hospitals with top ratings published in U.S. News & World Report. Cleveland's healthcare sector also includes University Hospitals of Cleveland, a renowned center for cancer treatment, MetroHealth medical center, and the insurance company Medical Mutual of Ohio. Cleveland is also noted in the fields of biotechnology and fuel cell research, led by Case Western Reserve University, the Cleveland Clinic, and University Hospitals of Cleveland. Cleveland is among the top recipients of investment for biotech start-ups and research. Case Western Reserve, the Clinic, and University Hospitals have recently announced plans to build a large biotechnology research center and incubator on the site of the former Mount Sinai Hospital, creating a research campus to stimulate biotech startup companies that can be spun off from research conducted in the city.

 
NASA's Glenn Research Center is adjacent to Cleveland Hopkins International Airport.
 

City leaders promoted growth of the technology sector in the first decade of the 21st century. Mayor Jane L. Campbell appointed a "tech czar" to recruit technology companies to the downtown office market, offering connections to the high-speed fiber networks that run underneath downtown streets in several "high-tech offices" focused on the Euclid Avenue area. Cleveland State University hired a technology transfer officer to cultivate technology transfers from CSU research to marketable ideas and companies in the Cleveland area, and appointed a vice president for economic development. Case Western Reserve University participated in technology initiatives such as the OneCommunity project, a high-speed fiber optic network linking the area's research centers intended to stimulate growth. In mid-2005, Cleveland was named an Intel "Worldwide Digital Community" along with Corpus Christi, Texas, Philadelphia, and Taipei. This added about $12 million for marketing to expand regional technology partnerships, created a city-wide Wi-Fi network, and developed a tech economy.

In addition to this Intel initiative, in January 2006 a New York-based think tank, the Intelligent Community Forum, selected Cleveland as the sole American city among its seven finalists for the "Intelligent Community of the Year" award. The group announced it nominated the city for its OneCommunity network with potential broadband applications. OneCommunity collaborated with Cisco Systems to deploy a wireless network starting in September 2006.

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