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MO Avg Real Estate Commission Rate in Columbia, Missouri

Columbia is a city in Missouri and the county seat of Boone County. Founded in 1821, it is home to the University of Missouri and is the principal city of the Columbia metropolitan area. It is Missouri's fourth most-populous city, with an estimated 120,612 residents in 2016.

As a Midwestern college town, the city has a reputation for progressive politics, persuasive journalism, and public art. The tripartite establishment of Stephens College (1833), the University of Missouri (1839), and Columbia College (1851), which surround the city's central business district to the east, south, and north, has made Columbia a center of learning. At the center of Downtown is 8th Street, also known as the Avenue of the Columns, which connects Francis Quadrangle and Jesse Hall to the Boone County Courthouse and the City Hall. Originally an agricultural town, the cultivation of the mind is Columbia's chief economic concern today. Never a major center of manufacturing, the city also depends on healthcare, insurance, and technology businesses. Companies such as Shelter Insurance, Carfax, and Slackers CDs and Games, were founded in the city. Cultural institutions include the State Historical Society of Missouri, the Museum of Art and Archaeology, and the annual True/False Film Festival. The Missouri Tigers, the state's only major college athletic program, play football at Faurot Field and basketball at Mizzou Arena as members of the Southeastern Conference.

The city rests upon the forested hills and rolling prairies of Mid-Missouri, near the Missouri River valley, where the Ozark Mountains begin to transform into plains and savanna. Limestone forms bluffs and glades while rain dissolves the bedrock, creating caves and springs which water the Hinkson, Roche Perche, and Bonne Femme creeks. Surrounding the city, Rock Bridge Memorial State Park, Mark Twain National Forest, and Big Muddy National Fish and Wildlife Refuge form a greenbelt preserving sensitive and rare environments.

The first humans, who entered the area at least twelve thousand years ago, were nomadic hunters. Later, woodland tribes lived in villages along waterways and built mounds in high places. The Osage and Missouria nations were expelled by the exploration of French traders and the rapid settlement of American pioneers. The latter arrived by the Boone's Lick Road and hailed from the slave-owning culture of the Upland South, especially Virginia, Kentucky, and Tennessee, giving Boonslick the name "Little Dixie" during the American Civil War. German, Irish, and other European immigrants soon joined. The modern populace is unusually diverse, over eight percent foreign-born. While White and Black remain the largest ethnicities, people of Asian descent are now the third-largest group. The city has been called the "Athens of Missouri" for its classic beauty and educational emphasis, but is more commonly called "CoMo".

 

Columbia, Missouri 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 Columbia, Missouri. 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 Columbia, Missouri, 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 Missouri, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Cape Girardeau $146,500 -1.50%
Columbia $183,000 4.80%
Kansas City $201,700 6.90%
St. Louis $174,000 2.20%
Springfield $137,000 2.90%
 
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 Missouri.

 

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 108,500 people, 43,065 households, and 21,418 families residing in the city. The population density was 1,720.0 inhabitants per square mile (664.1/km2). There were 46,758 housing units at an average density of 741.2 per square mile (286.2/km2). The racial makeup of the city was 79.0% White, 11.3% African American, 0.3% Native American, 5.2% Asian, 0.1% Pacific Islander, 1.1% from other races, and 3.1% from two or more races. Hispanic or Latino of any race were 3.4% of the population.

There were 43,065 households of which 26.1% had children under the age of 18 living with them, 35.6% were married couples living together, 10.6% had a female householder with no husband present, 3.5% had a male householder with no wife present, and 50.3% were non-families. 32.0% of all households were made up of individuals and 6.6% had someone living alone who was 65 years of age or older. The average household size was 2.32 and the average family size was 2.94.

In the city the population was spread out with 18.8% of residents under the age of 18; 27.3% between the ages of 18 and 24; 26.7% from 25 to 44; 18.6% from 45 to 64; and 8.5% who were 65 years of age or older. The median age in the city was 26.8 years. The gender makeup of the city was 48.3% male and 51.7% female.

 

ECONOMY:

Columbia's economy is historically dominated by education, healthcare, and the insurance industry. Jobs in government are also common, either in Columbia or a half-hour south in Jefferson City. Commutes into the city are also common and, in 2000, the city had a day time population of 106,487—a 26% increase over the census population of the same year. The Columbia Regional Airport and the Missouri River Port of Rocheport connect the region with trade and transportation.

The economy of Columbia's metro area is slightly larger than the Bahamas. With a Gross Metropolitan Product of $5.84 billion in 2004, Columbia's economy makes up 2.9% of the Gross State Product of Missouri. Insurance corporations headquartered in Columbia include Shelter Insurance, and the Columbia Insurance Group. Other organizations include MFA Incorporated, the Missouri State High School Activities Association, and MFA Oil. Companies such as Socket, Datastorm Technologies, Inc. (no longer existent), Slackers CDs and Games, Carfax, and MBS Textbook Exchange were founded in Columbia.

Top employers

According to Columbia's 2012 Comprehensive Annual Financial Report, the top employers in the city are:

# Employer # of Employees
1 University of Missouri 8,608
2 University of Missouri Health Care 4,468
3 Columbia Public Schools 2,117
4 Boone Hospital Center 1,655
5 City of Columbia 1,332
6 Harry S. Truman Memorial Veterans' Hospital 1,278
7 MBS Textbook Exchange 1,239
8 Shelter Insurance 1,078
9 State Farm 1,063
10 Joe Machens 630

 

*Data provided by Bankrate.com - Real Estate and Wikipedia - Columbia - Missouri