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IA Avg Real Estate Commission Rate in Davenport, Iowa

Davenport is the county seat of Scott County in Iowa and is located along the Mississippi River on the eastern border of the state. It is the largest of the Quad Cities, a metropolitan area with a population estimate of 382,630 and a CSA population of 474,226; it is the 90th largest CSA in the nation. Davenport was founded on May 14, 1836 by Antoine Le Claire and was named for his friend George Davenport, a former English sailor who served in the U.S. Army during the War of 1812, served as a supplier Fort Armstrong, worked as a fur trader with the American Fur Company, and was appointed a quartermaster with the rank of colonel during the Black Hawk War. According to the 2010 census, the city had a population of 99,685 (making it Iowa's third-largest city). The city appealed this figure, arguing that the Census Bureau missed a section of residents, and that its total population was more than 100,000. The Census Bureau estimated Davenport's 2011 population to be 100,802.

Located approximately halfway between Chicago and Des Moines, Davenport is on the border of Iowa across the river from Illinois. The city is prone to frequent flooding due to its location on the Mississippi River. There are two main universities: Saint Ambrose University and Palmer College of Chiropractic, where the first chiropractic adjustment took place. Several annual music festivals take place in Davenport, including the Mississippi Valley Blues Festival, the Mississippi Valley Fair, and the Bix Beiderbecke Memorial Jazz Festival. An internationally known 7-mile (11 km) foot race, called the Bix 7, is run during the festival. The city has a Class A minor-league baseball team, the Quad Cities River Bandits. Davenport has 50 plus parks and facilities, as well as more than 20 miles (32 km) of recreational paths for biking or walking.

Three interstates, 80, 74 and 280, and two major United States Highways serve the city. Davenport has seen steady population growth since its incorporation. National economic difficulties in the 1980s, resulted in job and population losses. The Quad Cities was ranked as the most affordable metropolitan area in 2010 by Forbes magazine. In 2007, Davenport, along with neighboring Rock Island, won the City Livability Award in the small-city category from the U.S. Conference of Mayors. In 2012, Davenport, and the Quad Cities Metropolitan Area, was ranked among the fastest-growing areas in the nation in the growth of high-tech jobs. Notable natives of the city have included jazz legend Bix Beiderbecke, Pulitzer Prize-winning playwright Susan Glaspell, former National Football League running back Roger Craig, and former WWE World Heavyweight Championship holder Seth Rollins

 

Davenport, 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 Davenport-Moline-Rock Island, IA-IL, 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 Davenport, 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:

According to the 2010 United States Census estimate, the city population grew to 99,685 and the Quad Cities metropolitan area grew to 379,690. As of the 2000 census, there were 98,359 people, 39,124 households, and 24,804 families residing in the city. The population density was 1,566.5 people per square mile (604.8/km²). There were 41,350 housing units at an average density of 658.5 per square mile (254.3/km²). Davenport's population density is 30 times the average density of Iowa and 20 times the average density of the United States. However, it is about a third less than Des Moines and 20 percent less than Cedar Rapids, the only two cities in Iowa with higher populations than Davenport. Sioux City, the next city smaller than Davenport in population, has a density of 5 people more per square mile.

The racial makeup of the city was 83.7% White, 9.2% Black or African American, 0.4% Native American, 2.0% Asian, <0.1% Pacific Islander, 2.3% from other races, and 2.4% from two or more races. 5.4% of the population was Hispanic or Latino of any race. There were 39,124 households out of which 31.8% had children under the age of 18 living with them, 46.0% were married couples living together, 13.4% had a female householder with no husband present, and 36.6% were non-families. Of all households, 29.5% were made up of individuals and 9.4% had someone living alone who was 65 years of age or older. The average household size was 2.44 and the average family size was 3.03.

The percent of all races, with the exception of white, are higher in Davenport, than Iowa averages, with the black population in Davenport four times the average of Iowa. All races in Davenport, except for white are at a higher percent than the rest of Iowa, but lower than the United States. Whites in Davenport, however, are lower than the Iowa average, but higher than the rest of the United States.

Age spread: 26.2% under the age of 18, 10.7% from 18 to 24, 30.1% from 25 to 44, 20.9% from 45 to 64, and 12.1% who were 65 years of age or older. The median age was 34 years. For every 100 females there were 94.7 males.

 

ECONOMY:

Davenport's biggest labor industry is manufacturing, with over 7,600 jobs in the sector. John Deere is the second largest employer in the Quad Cities, after the Rock Island Arsenal as a whole. Deere, however, is the largest single employer, employing 7,200 workers in the Quad Cities and 948 on its north side Davenport plant. John Deere World Headquarters is located in Moline. Other large employers in Davenport and the Quad Cities include, Genesis Health System with 5,125 employees and 4,900 in Davenport, Trinity Regional Health System with 3,333, regional grocery store Hy-Vee with 3,138 and the Davenport Community School District with 2,237 employees.

Davenport is the headquarters for department store Von Maur, which has 24 stores. Davenport is also the headquarters of Lee Enterprises, which publishes fifty daily newspapers and more than 300 weekly newspapers, shoppers, and specialty publications, along with online sites in 23 states. As of September 2009, the unemployment rate in Davenport and the rest of the Quad Cities, had risen to 8.4%.

The median income for a household in the city is $40,378 with families earning $51,445. Males had a median income of $41,853 versus $30,002 for females. The per capita income for the city was $18,828. About 10.5% of families and 14.1% of the population were below the poverty line, including 19.2% of those under age 18 and 6.4% of those ages 65 or over.

Davenport has a lower cost of living than the national average, in 2010 the average home price was $110,000; Forbes ranked Davenport as the best metropolitan area for cost of living, up from second in 2009. CNN Money ranked Davenport as the 16th most affordable housing in the country.

The surrounding Quad Cities have a few major places of employment, including the Rock Island Arsenal, which is the largest government-owned weapons manufacturing arsenal in the United States. KONE, Inc, a large manufacturer of elevators, is located in Moline, Illinois. Alcoa, a large aluminum manufacturer, is located in Riverdale, Iowa. Other local businesses include Whitey's Ice Cream, Hungry Hobo sandwich shop, and Happy Joe's and Harris Pizza – both local pizzerias (the former of which is also an ice cream parlor).

 

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