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IA Avg Real Estate Commission Rate in Des Moines, West Des Moines, Iowa

Des Moines is the capital and the most populous city in the U.S. state of Iowa. It is also the county seat of Polk County. A small part of the city extends into Warren County. It was incorporated on September 22, 1851, as Fort Des Moines, which was shortened to "Des Moines" in 1857. It is on and named after the Des Moines River, which likely was adapted from the French colonial name, Rivière des Moines, meaning "River of the Monks". The city's population was 216,553 as of the 2017 population estimate. The five-county metropolitan area is ranked 89th in terms of population in the United States with 634,725 residents according to the 2016 estimate by the United States Census Bureau.

Des Moines is a major center of the U.S. insurance industry, and has a sizable financial services and publishing business base. The city was credited as the "number one spot for U.S. insurance companies" in a Business Wire article and named the third-largest "insurance capital" of the world. The city is the headquarters for the Principal Financial Group, the Meredith Corporation, Ruan Transportation, EMC Insurance Companies, and Wellmark Blue Cross Blue Shield. Other major corporations such as Wells Fargo, Voya Financial, Nationwide Mutual Insurance Company, ACE Limited, Marsh, Monsanto, and DuPont Pioneer have large operations in or near the metropolitan area. In recent years, Microsoft, Hewlett Packard, and Facebook have built data-processing and logistical facilities in the Des Moines area. Forbes ranked Des Moines as the "Best Place for Business" in both 2010 and 2013. In 2014, NBC ranked Des Moines as the "Wealthiest City in America" according to its criteria.

Des Moines is an important city in U.S. presidential politics; as the state's capital, it is the site of the first caucuses of the presidential primary cycle. Many presidential candidates set up campaign headquarters in Des Moines. A 2007 article in The New York Times said, "If you have any desire to witness presidential candidates in the most close-up and intimate of settings, there is arguably no better place to go than Des Moines."

 

Des Moines, West Des Moines, 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 Des Moines-West Des Moines, 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 Des Moines, West Des Moines, 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:

As of the census of 2010, there were 203,433 people, 81,369 households, and 47,491 families residing in the city. Population density was 2,515.6 inhabitants per square mile (971.3/km2). There were 88,729 housing units at an average density of 1,097.2 per square mile (423.6/km2). The racial makeup of the city was 76.4% White, 10.2% African American, 0.5% Native American, 4.4% Asian (1.2% Vietnamese, 0.9% Laotian, 0.4% Burmese, 0.3% Asian Indian, 0.3% Thai, 0.2% Chinese, 0.2% Cambodian, 0.2% Filipino, 0.1% Hmong, 0.1% Korean, 0.1% Nepalese), 0.1% Pacific Islander, 5.0% from other races, and 3.4% from two or more races. People of Hispanic or Latino origin, of any race, formed 12.0% of the population (9.4% Mexican, 0.7% Salvadoran, 0.3% Guatemalan, 0.3% Puerto Rican, 0.1% Honduran, 0.1% Ecuadorian, 0.1% Cuban, 0.1% Spaniard, 0.1% Spanish). Non-Hispanic Whites were 70.5% of the population in 2010.

There were 81,369 households of which 31.6% had children under the age of 18 living with them, 38.9% were married couples living together, 14.2% had a female householder with no husband present, 5.3% had a male householder with no wife present, and 41.6% were non-families. 32.5% 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 2.43 and the average family size was 3.11.

The median age in the city was 33.5 years. 24.8% of residents were under the age of 18; 10.9% were between the ages of 18 and 24; 29.4% were from 25 to 44; 23.9% were from 45 to 64; and 11% were 65 years of age or older. The gender makeup of the city was 48.9% male and 51.1% female.

 

ECONOMY:

Many insurance companies are headquartered in Des Moines, including the Principal Financial Group, EMC Insurance Group, Fidelity & Guaranty Life, Allied Insurance, GuideOne Insurance, Wellmark Blue Cross Blue Shield of Iowa, and American Republic Insurance Company. Des Moines has been referred to as the "Hartford of the West" because of this. The Principal is one of two Fortune 500 companies with headquarters in Iowa, ranking 273rd on the magazine's list in 2009.

As a center of financial and insurance services, other major corporations headquartered outside of Iowa have established a presence in the Des Moines Metro area, including Wells Fargo, Voya Financial, and Electronic Data Systems. The Meredith Corporation, a leading publishing and marketing company, is also based in Des Moines. Meredith publishes Better Homes and Gardens, one of the most widely circulated publications in the United States. Des Moines is also the headquarters of Golf Digest magazine.

Other major employers in Des Moines include UnityPoint Health, Mercy Medical Center, MidAmerican Energy Company, CDS Global, UPS, Firestone Agricultural Tire Company, EDS, Drake University, Titan Tire, The Des Moines Register, Anderson Erickson, Dee Zee and EMCO.

In 2010, Forbes magazine ranked the Des Moines metropolitan area first on its list of "Best Places For Business And Careers", based on factors such as the cost of doing business, cost of living, educational attainment, and crime rate.

In 2017, Kemin Industries opened a state-of-the-art worldwide headquarters building in Des Moines.

 

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