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MS Avg Real Estate Commission Rate in Jackson, Mississippi

Jackson, officially the City of Jackson, is the capital city and largest urban center of the U.S. state of Mississippi. It is the primary seat of Hinds County, equally sharing its county power with Raymond, Mississippi. The City of Jackson also owns more than 3,000 acres (1,200 ha) comprising Jackson-Medgar Evers International Airport in Rankin County. Jackson is on the Pearl River, which drains into the Gulf of Mexico, and it is part of the Jackson Prairie region of the state. The city is named after General Andrew Jackson, who was honored for his role in the Battle of New Orleans during the War of 1812 and later served as U.S. president.

The current slogan for the city is "The City with Soul". It has had numerous musicians prominent in blues, gospel, folk, and jazz.

The city is the anchor for the metropolitan statistical area (MSA). While its population declined from 184,256 at the 2000 census to 173,514 at the 2010 census, the metropolitan region grew. The 2010 census ascribed a population of 539,057 to the five-county Jackson metropolitan area.

 

Jackson, Mississippi 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 Jackson, Mississippi. 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 Jackson, Mississippi, 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 Minnesota, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Gulfport-Biloxi-Pascagoulia $135,900 1.3%
Jackson $179,100 3.8%
Memphis, TN-MS-AR $171,500 6.7%
 
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 Minnesota.

 

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:

Jackson remained a small town for much of the 19th century. Before the Civil War, Jackson's population remained small, particularly in contrast to the river towns along the commerce-laden Mississippi River. Despite the city's status as the state capital, the 1850 census counted only 1,881 residents, and by 1900 the population of Jackson was still less than 8,000. Although it expanded rapidly, during this period Meridian became Mississippi's largest city, based on trade, manufacturing, and access to transportation via railroad and highway.

In the early 20th century, as can be seen by the table, Jackson had its largest rates of growth, but was ranked second to Meridian. By 1944, Jackson's population had risen to some 70,000 inhabitants, and it became the largest city in the state. It has maintained its position, achieving a peak population in the 1980 census of more than 200,000 residents in the city. Since then, Jackson has steadily seen a decline in its population, while its suburbs have had a boom. This change has occurred in part due to white flight, but it also demonstrates the national suburbanization trend, in which wealthier residents moved out to newer housing. This decline slowed in the first decade of the 21st century.

As of the census of 2010, there were 173,514 people, and 62,400 households. The population density was 1,562.5 inhabitants per square mile (603.3/km2). There were 74,537 housing units. The racial makeup of the city was 79.4% Black or African American, 18.4% White or Euro American, 0.1% Native American, 0.4% Asian, and 0.9% from two or more races. 1.6% of the population were Hispanic or Latino of any race. Non-Hispanic Whites were 18% of the population in 2010, down from 60% in 1970.

There were 267,841 households out of which 39.4% had children under the age of 18 living with them, 35.4% were married couples living together, 25.3% had a female householder with no husband present, 5.8% had a male householder with no wife present, and 34.4% were non-families. 28.9% of all households were made up of individuals and 9.0% had someone living alone who was 65 years of age or older. The average household size was 2.61 and the average family size was 3.24. Same-sex couple households comprised 0.8% of all households.

The age of the population was spread out with 28.5% under the age of 18, 12.4% from 18 to 24, 29.1% from 25 to 44, 19.1% from 45 to 64, and 10.9% who were 65 years of age or older. The median age was 31 years. For every 100 females, there were 86.9 males. For every 100 females age 18 and over, there were 81.5 males.

The median income for a household in the city was $30,414, and the median income for a family was $36,003. Males had a median income of $29,166 versus $23,328 for females. The per capita income for the city was $17,116. About 19.6% of families and 23.5% of the population were below the poverty line, including 33.7% of those under age 18 and 15.7% of those age 65 or over.

Jackson ranks number 10 in the nation in concentration of African-American same-sex couples.

In 2012, WAPT posted an article about Jackson's population being projected to grow after a 30-year decline. In a pattern typical of many older cities, Jackson's population had declined while its suburbs grew. Some people expect that pattern to change, noting people's renewed preferences for denser neighborhoods, city amenities, and other attractions. After 1980, the city population declined to the 2010 Census, with 173,514 citizens. "Whether it is flattening out, or what it could be, we don't know exactly," said Mark Monk of the Central Mississippi Planning and Development District. Monk also mentioned that it is just a one-year estimate, so it is not all accurate. Jackson was projected to grow at an estimated 1.1%. On the other hand, Madison was projected to grow 1.8% and Rankin had a projection of 1.5%. Of persons moving into the city, some 60 percent were from Rankin and Madison counties, and had chosen to return to the city. Thirty percent were female. Thirty-three percent were African Americans.

*Data provided by Bankrate.com - Real Estate and Wikipedia - Jackson - Mississippi