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IL Avg Real Estate Commission Rate in Decatur, Illinois

Decatur is the largest city and the county seat of Macon County in the U.S. state of Illinois. The city was founded in 1829 and is along the Sangamon River and Lake Decatur in Central Illinois. In 2016, the city's estimated population was 72,706.

The city is home of private Millikin University and public Richland Community College. Decatur has vast industrial and agricultural processing production, including the North American headquarters of agricultural conglomerate Archer Daniels Midland, international agribusiness Tate & Lyle's largest corn-processing plant, and the designing and manufacturing facilities for Caterpillar Inc.'s wheel-tractor scrapers, off-highway trucks, and large mining trucks.

 

Decatur, 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 Decatur, 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 Decatur, 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?

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ECONOMY:

Decatur has production facilities for Caterpillar, Archer Daniels Midland, Mueller Co., and Tate & Lyle (previously A. E. Staley).

Caterpillar Inc. has one of its largest manufacturing plants in the U.S. This plant produces Caterpillar's off highway trucks, wheel-tractor scrapers, mining-class motorgraders, and their ultra-class mining trucks (including the Caterpillar 797). Archer Daniels Midland processes corn and soybeans, Mueller produces water distribution products and Tate & Lyle processes corn in Decatur. From 1917 to 1922 Decatur was the location of the Comet Automobile Co., and the Pan-American Motor Corp.

Decatur has been ranked third in the nation as an Emerging Logistics and Distribution Center by Business Facilities: The Location Advisor and also a Top 25 Trade City by Global Trade Magazine. In 2013 the Economic Development Corporation of Decatur & Macon County established the Midwest Inland Port, a multi-modal transportation hub with market proximity to 95 million customers in a 500-mile radius. The Midwest Inland Port includes the Archer Daniels Midland Intermodal container ramp, the three class I railroads that service the ramp and the city (the Canadian National Railway, CSX, and the Norfolk Southern Railway), five major roadways and the Decatur Airport. The Midwest Inland Port also has a foreign trade zone, customs clearing and the area is both an enterprise zone and tax increment financing district.

Top employers

According to the Economic Development Corporation of Decatur & Macon County, the top employers in the Decatur metropolitan area are as follows:

# Employer # of Employees
1 Archer Daniels Midland 4,199
2 Decatur Memorial Hospital 2,200
3 Decatur Public School District 1,812
4 Caterpillar Inc. 1,650
5 St. Mary's Hospital 987
6 Tate & Lyle 975
7 Ameren Illinois 683
8 Mueller Co. 600
9 Macon County 536
10 Norfolk Southern 522
11 Akorn Incorporated 520
12 The Kelly Group 500
13 City of Decatur 481
14 Millikin University 480

 

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