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PA Avg Real Estate Commission Rate in Erie, Pennsylvania

Erie is a city in and the county seat of Erie County, Pennsylvania, United States. Named for the lake and the Native American tribe that resided along its southern shore, Erie is the fourth-largest city in Pennsylvania, as well as the largest city in Northwestern Pennsylvania, with a population of 101,786 at the 2010 census. The estimated population in 2016 had decreased to 98,593. The Erie metropolitan area, equivalent to all of Erie County, consists of 276,207 residents. The Erie-Meadville, PA Combined Statistical Area has a population of 369,331, as of the 2010 Census.

Erie is halfway between the cities of Buffalo, New York, and Cleveland, Ohio, and due north of Pittsburgh, Pennsylvania. Erie's manufacturing sector remains prominent in the local economy, though health care, higher education, technology, service industries and tourism are emerging as significant economic drivers. Over four million people visit Erie during summer months for recreation at Presque Isle State Park, as well as attractions such as an indoor water park, Waldameer Park, and the casino and horse racetrack named for the state park.

Erie is known as the "Flagship City" because of its status as the home port of Oliver Hazard Perry's flagship Niagara. The city has also been called the "Gem City" because of the sparkling lake. Erie won the All-America City Award in 1972, and in 2012 hosted the Perry 200, a commemoration, celebrating 200 years of peace between England, America and Canada following the War of 1812 and Battle of Lake Erie.

 

Erie, Pennsylvania 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 Erie, Pennsylvania. 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 Erie, Pennsylvania, 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 Northeast rose 3.2%, to $282,300, 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 Pennsylvania, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Allentown-Bethlehem-Easton, PA-NJ $190,400 2.50%
Erie $116,500 1.20%
Harrisburg-Carlisle $168,000 2.00%
New York-Newark-Jersey City, NY-NJ-PA $414,000 4.70%
Newark $400,600 2.90%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD $239,100 3.00%
Reading $164,700 4.00%
York-Hanover $162,800 -3.20%
Youngstown-Warren-Boardman, OH-PA $87,000 1.90%
 
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 Pennsylvania.

 

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 United States Census, there were 101,786 people, 40,913 households, and 22,915 families residing in the city. There were 44,790 housing units at an average vacancy rate of 8 percent. Erie has long been declining in population due to the departure of factories and dependent businesses. The city has lost approximately 40,000 people since the early 1960s, allowing Allentown to claim the position as Pennsylvania's third-largest city behind Philadelphia and Pittsburgh.

Erie's population was spread evenly among all age groups, with the median being 34. About 13% of families and 19% of the population were below the poverty line. Most of the people who reside in Erie are of European descent.

Since the mid-1990s, the International Institute of Erie (IIE), founded in 1919, has helped with the resettlement of refugees from Bosnia, Eritrea, Ghana, Iraq, Kosovo, Liberia, Nepal, Somalia, Sudan, the former Soviet Union, Syria, and Vietnam. The inclusion of refugees in Erie's community augments religious diversity and prompts community events such as cultural festivals. It is estimated that 20% of the city's population has refugee background, as of 2018.

 

ECONOMY:

Erie is the Commonwealth of Pennsylvania's primary access point to Lake Erie, the Great Lakes, and the Saint Lawrence Seaway. The city emerged as a maritime center after the American Revolution, then as a railroad hub during the great American westward expansion. Erie became an important city for iron and steel manufacturing during the Industrial Revolution and thrived well into the 20th century with firms like Griswold Manufacturing, once the leader in cast iron cookware.

While only GE Transportation diesel-electric locomotive building remains (will be relocated to Fort Worth, Texas in 2018) from the ranks of the large manufacturers in the early 21st century, a more diverse mix of mid-sized industries has emerged. This broader economic base includes not only smaller and more agile steel and plastic plants, but also a vigorous service sector: health, insurance and tourism.

Erie is the corporate headquarters of the Erie Insurance Group, and Marquette Savings Bank. Lord Corporation was founded and has major operations in Erie. Along with GE and Erie Insurance, major employers in the county include the county, state and federal governments, as well as the Erie City School District.

 
Sunset at Presque Isle State Park; the peninsula is a major tourist attraction
 

Over 10 percent of the USA's plastics are manufactured or finished in Erie-based plastics plants. Erie is an emerging center for biofuels and environmental research, producing over 45 million U.S. gallons of biofuel a year. Tourism plays an increasingly important role in the local economy with over 4 million people visiting Presque Isle State Park and other attractions. Shoppers from Ohio, New York, and the Canadian province of Ontario frequent the Millcreek Mall and Peach Street stores and attractions as a result of Pennsylvania's tax exemption on clothing.

Both UPMC Hamot and Saint Vincent Health System are also major employers in Erie. Although both of these hospitals had been stand-alone Erie entities, Hamot merged with the University of Pittsburgh Medical Center in 2011 and Saint Vincent, which affiliated with the Cleveland Clinic in 2012, merged with Highmark's Allegheny Health Network in 2013. The United States Department of Veterans Affairs operates the Erie Veterans Affairs Medical Center on East 38th Street. The Shriners International has operated Shriners Hospital for Children in Erie since 1927.

*Data provided by Bankrate.com - Real Estate and Wikipedia - Erie - Pennsylvania