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MI Avg Real Estate Commission Rate in Grand Rapids, Michigan

Grand Rapids is the second-largest city in Michigan, and the largest city in West Michigan. It is on the Grand River about 30 miles (48 km) east of Lake Michigan. As of the 2010 census, the city population was 188,040. In 2010, the Grand Rapids metropolitan area had a population of 1,005,648, and the combined statistical area of Grand Rapids-Muskegon-Holland had a population of 1,321,557. Grand Rapids is the county seat of Kent County.

A historic furniture-manufacturing center, Grand Rapids is home to five of the world's leading office furniture companies, and is nicknamed Furniture City. Its more common modern nickname of River City refers to the landmark river for which it was named. The city and surrounding communities are economically diverse, based in the health care, information technology, automotive, aviation, and consumer goods manufacturing industries, among others.

Grand Rapids is the childhood home of U.S. President Gerald Ford, who is buried with his wife Betty on the grounds of the Gerald R. Ford Presidential Museum in the city.

 

Grand Rapids, Michigan 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 Grand Rapids-Wyoming, Michigan. 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 Grand Rapids, Michigan, 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 Michigan, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Ann Arbor $283,800 11.60%
Detroit-Warren-Dearborn N/A N/A
Grand Rapids-Wyoming $182,700 13.70%
Lansing-East Lansing $145,600 4.60%
Saginaw N/A N/A
South Bend-Mishawaka $125,400 3.00%
 
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 Michigan.

 

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 188,040 people, 72,126 households, and 41,015 families residing in the city. The population density was 4,235.1 inhabitants per square mile (1,635.2/km2). There were 80,619 housing units at an average density of 1,815.7 per square mile (701.0/km2). The racial makeup of the city was 64.6% White (59.0% Non-Hispanic White), 20.9% African American, 0.7% Native American, 1.9% Asian, 0.1% Pacific Islander, 7.7% from other races, and 4.2% from two or more races. Hispanic or Latino residents of any race were 15.6% of the population.

There were 72,126 households of which 31.1% had children under the age of 18 living with them, 35.5% were married couples living together, 16.4% had a female householder with no husband present, 5.0% had a male householder with no wife present, and 43.1% were non-families. 32.3% of all households were made up of individuals and 10.1% had someone living alone who was 65 years of age or older. The average household size was 2.49 and the average family size was 3.20.

The median age in the city was 30.8 years. 24.7% of residents were under the age of 18; 14.5% were between the ages of 18 and 24; 28.6% were from 25 to 44; 21.2% were from 45 to 64; and 11.1% were 65 years of age or older. The gender makeup of the city was 48.7% male and 51.3% female.

 

ECONOMY:

Headquartered in Grand Rapids, Spectrum Health is the largest employer in West Michigan, with 25,600 staff and 1,700 physicians in 2017. Spectrum Health's Meijer Heart Center, Lemmen-Holton Cancer Pavilion, and Butterworth Hospital, a level I trauma center, are located on the Grand Rapids Medical Mile, which has world-class facilities focusing on the health sciences. These facilities include the Van Andel Research Institute, Grand Valley State University's Cook-DeVos Center for Health Sciences, and the Michigan State University College of Human Medicine medical school's Secchia Center, along with Ferris State University's College of Pharmacy. Nearly a billion dollars has been invested in the Spectrum Health Cancer Pavilion, the Spectrum Health Helen DeVos Children's Hospital, and the expansion to the Van Andel Institute. These facilities have attracted numerous health science businesses to the area.

Grand Rapids has long been a center for furniture manufacturing. Office furniture manufacturers like American Seating, Steelcase (and its subsidiaries Coalesse and Turnstone), Haworth, and Herman Miller are based in and around the Grand Rapids area. In 1881, the Furniture Manufacturers Association (FMA) was organized in Grand Rapids; making it the first furniture manufacturing advocacy group in the country. The Kindel Furniture Company and the Hekman Furniture Company have been designing and manufacturing furniture in Grand Rapids since 1912 and 1922 respectively.

The Grand Rapids area is also known for its automobile and aviation manufacturing industries, with GE Aviation Systems having a location in the city.

The Grand Rapids area is home to a number of well-known companies that include: Alticor/Amway (a consumer goods manufacturer and distributor), Bissell (a privately owned vacuum cleaner and floor care product manufacturer), Highlight Industries (an industry leader in stretch wrap equipment), SpartanNash (a food distributor and grocery store chain), Foremost Insurance Company (a specialty lines insurance company), Meijer (a regional supercenter chain), GE Aviation (formerly Smiths Industries, an aerospace products company), Wolverine World Wide (a designer and manufacturer of shoes, boots and clothing), MC Sports, Inc. (a regional sports retail chain), Universal Forest Products (a building materials company), and Schuler Books & Music, one of the largest independent bookstores in the country.

The city is known as a center of Christian publishing, home to Zondervan, Baker Books, Kregel Publications, Eerdmans Publishing and Our Daily Bread Ministries.

The surrounding area is noted for its fruit production. Due to its close proximity to Lake Michigan, the climate is considered prime for apple, peach, and blueberry farming.

In 2010 Grand Rapids was named the "most sustainable midsize city in the U.S." by the U.S. Chamber of Commerce Civic Leadership Center and Siemens Corp. Grand Rapids was chosen over finalist cities Davenport, Iowa and Hoover, Alabama.

 

*Data provided by Bankrate.com - Real Estate and Wikipedia - Grand Rapids - Michigan