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CO Avg Real Estate Commission Rate in Denver, Aurora, Lakewood, Colorado

Denver officially the City and County of Denver, is the capital and most populous municipality of the U.S. state of Colorado. Denver is in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains. The Denver downtown district is immediately east of the confluence of Cherry Creek with the South Platte River, approximately 12 mi (19 km) east of the foothills of the Rocky Mountains. Denver is nicknamed the Mile High City because its official elevation is exactly one mile (5280 feet or 1609.3 meters) above sea level, making it the highest major city in the United States. The 105th meridian west of Greenwich, the longitudinal reference for the Mountain Time Zone, passes directly through Denver Union Station.

Denver is ranked as a Beta- world city by the Globalization and World Cities Research Network. With an estimated population of 704,621 in 2017, Denver is the 19th-most populous U.S. city, and with a 17.41% increase since the 2010 United States Census, it has been one of the fastest-growing major cities in the United States. The 10-county Denver-Aurora-Lakewood, CO Metropolitan Statistical Area had an estimated 2017 population of 2,888,227 and is the 19th most populous U.S. metropolitan statistical area. The 12-city Denver-Aurora, CO Combined Statistical Area had an estimated 2016 population of 3,470,235 and is the 16th most populous U.S. metropolitan area. Denver is the most populous city of the 18-county Front Range Urban Corridor, an oblong urban region stretching across two states with an estimated 2016 population of 4,833,260. Denver is the most populous city within a 500-mile (800 km) radius and the second-most populous city in the Mountain West after Phoenix, Arizona. In 2016, Denver was named the best place to live in the United States by U.S. News & World Report.

 

Denver, Aurora, Lakewood, Colorado 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 Denver, Aurora, Lakewood, Colorado. 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 Denver, Aurora, Lakewood, Colorado, 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 West rose 7.5%, to $372,400, 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 Colorado, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Boulder $593,200 7.9%
Colorado Springs $284,200 9.6%
Denver, Aurora, Lakewood $424,500 7.6%
 
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 Colorado.

 

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 2010 census, the population of the City and County of Denver was 600,158, making it the 24th most populous U.S. city. The Denver-Aurora-Lakewood, CO Metropolitan Statistical Area had an estimated 2013 population of 2,697,476 and ranked as the 21st most populous U.S. metropolitan statistical area, and the larger Denver-Aurora-Boulder Combined Statistical Area had an estimated 2013 population of 3,277,309 and ranked as the 16th most populous U.S. metropolitan area. Denver is the most populous city within a radius centered in the city and of 550-mile (890 km) magnitude. Denverites is a term used for residents of Denver.

According to the 2010 census, the City and County of Denver contained 600,158 people and 285,797 households. The population density was 3,698 inhabitants per square mile (1,428/km²) including the airport. There were 285,797 housing units at an average density of 1,751 per square mile (676/km²). However, the average density throughout most Denver neighborhoods tends to be higher. Without the 80249 zip code (47.3 sq mi, 8,407 residents) near the airport, the average density increases to around 5,470 per square mile.

According to the 2010 United States Census, the racial composition of Denver was as follows:

  • White: 68.9% (Non-Hispanic Whites: 52.2%)
  • Hispanic or Latino (of any race): 31.8%; Mexican Americans made up 24.9% of the city's population.
  • Black or African American: 10.2%
  • Asian: 3.4% (0.8% Vietnamese, 0.6% Chinese, 0.5% Indian, 0.3% Korean, 0.3% Japanese, 0.3% Filipino, 0.2% Burmese, 0.1% Cambodian)
  • Native American: 1.4%
  • Native Hawaiian and Other Pacific Islander: 0.1%
  • Some other race: 9.2%
  • Two or more races: 4.1%

Approximately 70.3% of the population (over five years old) spoke only English at home. An additional 23.5% of the population spoke Spanish at home. In terms of ancestry, 31.2% were Mexican, 14.6% of the population were of German ancestry, 9.7% were of Irish ancestry, 8.9% were of English ancestry, and 4.0% were of Italian ancestry.

There were 250,906 households, of which 23.2% have children under the age of 18 living with them, 34.7% were married couples living together, 10.8% had a female householder with no husband present, and 50.1% were non-families. 39.3% of all households 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 2.27, and the average family size was 3.14.

Age distribution was 22.0% under the age of 18, 10.7% from 18 to 24, 36.1% from 25 to 44, 20.0% from 45 to 64, and 11.3% who were 65 years of age or older. The median age is 33 years. Overall there were 102.1 males for every 100 females, but in 2015 for the category of never-married ages 25 to 34, there were 121.4 males for every 100 females. Due to a skewed sex ratio wherein single men outnumber single women, some protologists have nicknamed the city as Menver.

The median household income was $45,438, and the median family income was $48,195. Males had a median income of $36,232 versus $33,768 for females. The per capita income for the city was $24,101. 19.1% of the population and 14.6% of families were below the poverty line. Out of the total population, 25.3% of those under the age of 18 and 13.7% of those 65 and older were living below the poverty line.

 

ECONOMY:

The Denver MSA has a gross metropolitan product of $157.6 billion in 2010, making it the 18th largest metro economy in the United States. Denver's economy is based partially on its geographic position and its connection to some of the country's major transportation systems. Because Denver is the largest city within 500 miles (800 km), it has become a natural location for storage and distribution of goods and services to the Mountain States, Southwest states, as well as all western states. Another benefit for distribution is that Denver is nearly equidistant from large cities of the Midwest, such as Chicago and St. Louis and some large cities of the West Coast, such as Los Angeles and San Francisco.

Over the years, the city has been home to other large corporations in the central United States, making Denver a key trade point for the country. Several well-known companies originated in or have relocated to Denver. William Ainsworth opened the Denver Instrument Company in 1895 to make analytical balances for gold assayers. Its factory is now in Arvada. AIMCO (NYSE: AIV)—the largest owner and operator of apartment communities in the United States, with approximately 870 communities comprising nearly 136,000 units in 44 states—is headquartered in Denver, employing approximately 3,500 people. Also Samsonite Corp., the world's largest luggage manufacturer, began in Denver in 1910 as Shwayder Trunk Manufacturing Company, but Samsonite closed its NE Denver factory in 2001, and moved its headquarters to Massachusetts after a change of ownership in 2006. The Mountain States Telephone & Telegraph Company, founded in Denver in 1911, is now a part of telecommunications giant CenturyLink.

MediaNews Group purchased the Denver Post in 1987; the company is based in Denver. The Gates Corporation, the world's largest producer of automotive belts and hoses, was established in S. Denver in 1919. Russell Stover Candies Inc. made its first chocolate candy in Denver in 1923, but moved to Kansas City in 1969. The Wright & McGill Company has been making its Eagle Claw brand of fishing gear in NE Denver since 1925. The original Frontier Airlines began operations at Denver's old Stapleton International Airport in 1950; Frontier was reincarnated at DIA in 1994. Scott's Liquid Gold, Inc., has been making furniture polish in Denver since 1954. Village Inn restaurants began as a single pancake house in Denver in 1958. Big O Tires, LLC, of Centennial opened its first franchise in 1962 in Denver. The Shane Company sold its first diamond jewelry in 1971 in Denver. Johns Manville Corp., a manufacturer of insulation and roofing products, relocated its headquarters to Denver from New York in 1972. CH2M HILL Inc., an engineering and construction firm, relocated from Oregon to the Denver Technological Center in 1980. The Ball Corporation sold its glass business in Indiana in the 1990s and moved to suburban Broomfield; Ball has several operations in greater Denver.

Molson Coors Brewing Company established its U.S. headquarters in Denver in 2005. Its subsidiary and regional wholesale distributor, Coors Distributing Company, is in NW Denver. The Newmont Mining Corporation, the second-largest gold producer in North America and one of the largest in the world, is headquartered in Denver. MapQuest, an online site for maps, directions and business listings, is headquartered in Denver's LoDo district.

Large Denver-area employers that have headquarters elsewhere include Lockheed Martin Corp., United Airlines, Kroger Co. and Xcel Energy, Inc.

 
Development in the bustling Union Station section of downtown
 

Geography also allows Denver to have a considerable government presence, with many federal agencies based or having offices in the Denver area. Along with federal agencies come many companies based on US defense and space projects, and more jobs are brought to the city by virtue of its being the capital of the state of Colorado. The Denver area is home to the former nuclear weapons plant Rocky Flats, the Denver Federal Center, Byron G. Rogers Federal Building and United States Courthouse, the Denver Mint, and the National Renewable Energy Laboratory.

In 2005, a $310.7 million expansion for the Colorado Convention Center was completed, doubling its size. The hope was the center's expansion would elevate the city to one of the top 10 cities in the nation for holding a convention.

Denver's position near the mineral-rich Rocky Mountains encouraged mining and energy companies to spring up in the area. In the early days of the city, gold and silver booms and busts played a large role in the city's economic success. In the 1970s and early 1980s, the energy crisis in America and resulting high oil prices created an energy boom in Denver captured in the soap opera Dynasty. Denver was built up considerably during this time with the construction of many new downtown skyscrapers. When the price of oil dropped from $34 a barrel in 1981 to $9 a barrel in 1986, the Denver economy also dropped, leaving almost 15,000 oil industry workers in the area unemployed (including former mayor and current governor John Hickenlooper, a former geologist), and the nation's highest office vacancy rate (30%). The industry has recovered and the region has 700 employed petroleum engineers. Advances in hydraulic fracturing have made the DJ Basin of Colorado into an accessible and lucrative oil play. Energy and mining are still important in Denver's economy today, with companies such as EnCana, Halliburton, Smith International, Rio Tinto Group, Newmont Mining, Noble Energy, and Anadarko headquartered or having significant operations.

Denver's west-central geographic location in the Mountain Time Zone (UTC−7) also benefits the telecommunications industry by allowing communication with both North American coasts, South America, Europe, and Asia in the same business day. Denver's location on the 105th meridian at over one mile (1.6 km) in elevation also enables it to be the largest city in the U.S. to offer a "one-bounce" real-time satellite uplink to six continents in the same business day. Qwest Communications, Dish Network Corporation, Starz-Encore, DIRECTV, and Comcast are a few of the many telecommunications companies with operations in the Denver area. These and other high-tech companies had a boom in Denver in the mid to late 1990s. After a rise in unemployment in the Great Recession, Denver's unemployment rate recovered and had one of the lowest unemployment rates in the nation at 2.6% in November 2016. As of December 2016, the unemployment rate for the Denver-Aurora-Broomfield MSA is 2.6%. The Downtown region has seen increased real estate investment with the construction of several new skyscrapers from 2010 onward and major development around Denver Union Station.

Denver has also enjoyed success as a pioneer in the fast-casual restaurant industry, with many popular national chain restaurants founded and based in Denver. Chipotle Mexican Grill, Quiznos, and Smashburger were founded and headquartered in Denver. Qdoba Mexican Grill, Noodles & Company, and Good Times Burgers & Frozen Custard originated in Denver, but have moved their headquarters to the suburbs of Wheat Ridge, Broomfield, and Golden, respectively.

In 2015, Denver ranked No. 1 on Forbes' list of the Best Places for Business and Careers.

*Data provided by Bankrate.com - Real Estate and Wikipedia - Denver - Colorado