Kankakee is a city in and the county seat of Kankakee County, Illinois, United States. The city's name is probably derived from the Miami-Illinois word teeyaahkiki, meaning: "Open country/exposed land/land in open/land exposed to view," in reference to the area's prior status as a marsh. As of the 2010 census, the city population was 27,537. Kankakee is a principal city of the Kankakee-Bourbonnais-Bradley Metropolitan Area.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Kankakee, Illinois. 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 Kankakee, Illinois, 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 Illinois, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
|Davenport-Moline-Rock Island, IA-IL||$129,500||3.20%|
|St. Louis, MO-IL||$174,000||2.20%|
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.
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 Illinois.
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.
Click here to see your savings in just 24 hours…
As of the census of 2000, there were 27,561 people, 10,020 households and 6,272 families residing within the city. The population density was 2,239.8 people per square mile (865.1/km²). There were 10,965 housing units at an average density of 893.4 per square mile (345.0/km²). The racial makeup of the city was 50.92% White, 41.07% African American, 0.27% Native American, 0.32% Asian, 0.03% Pacific Islander, 5.50% from other races, and 1.90% from two or more races. Hispanic or Latino of any race were 9.25% of the population.
There were 10,020 households out of which 34.4% had children under the age of 18 living with them, 36.4% were married couples living together, 21.2% had a female householder with no husband present, and 37.4% were non-families. 31.5% of all households were made up of individuals and 13.9% had someone living alone who was 65 years of age or older. The average household size was 2.60 and the average family size was 3.28.
In the city, the population was spread out with 29.5% under the age of 18, 9.7% from 18 to 24, 28.7% from 25 to 44, 18.7% from 45 to 64, and 13.4% who were 65 years of age or older. The median age was 32 years. For every 100 females there were 91.8 males. For every 100 females age 18 and over, there were 86.2 males.
The median income for a household in the city was $30,469, and the median income for a family was $36,428. Males had a median income of $30,894 versus $22,928 for females. The per capita income for the city was $15,479. About 18.1% of families and 21.4% of the population were below the poverty line, including 29.3% of those under age 18 and 11.7% of those age 65 or over.