Kansas City is the largest city in Missouri, United States. According to the U.S. Census Bureau, the city had an estimated population of 481,420 in 2016, making it the 37th largest city by population in the United States. It is the central city of the Kansas City metropolitan area, which straddles the Kansas–Missouri border. Kansas City was founded in the 1830s as a Missouri River port at its confluence with the Kansas River coming in from the west. On June 1, 1850 the town of Kansas was incorporated; shortly after came the establishment of the Kansas Territory. Confusion between the two ensued and the name Kansas City was assigned to distinguish them soon after.
Sitting on Missouri's western border, with Downtown near the confluence of the Kansas and Missouri rivers, the modern city encompasses some 319.03 square miles (826.3 km2), making it the 23rd largest city by total area in the United States. Most of the city lies within Jackson County, but portions spill into Clay, Cass, and Platte counties. Along with Independence, it serves as one of the two county seats for Jackson County. Major suburbs include the Missouri cities of Independence and Lee's Summit and the Kansas cities of Overland Park, Olathe, and Kansas City.
The city is composed of several neighborhoods, including the River Market District in the north, the 18th and Vine District in the east, and the Country Club Plaza in the south. Kansas City is known for its long tradition of jazz music and culture, it's also known for its cuisine (including its distinctive style of barbecue) and its craft breweries.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Kansas City, Missouri. 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 Kansas City, Missouri, 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 Missouri, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
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 Missouri.
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.
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According to the 2010 census, the racial composition of Kansas City was as follows:
Kansas City has the second largest Sudanese and Somali populations in the United States. The Latino/Hispanic population of Kansas City, which is heavily Mexican and Central American, is spread throughout the metropolitan area, with some concentration in the northeast part of the city and southwest of downtown. The Asian population, mostly Southeast Asian, is partly concentrated within the northeast side to the Columbus Park neighborhood in the Greater Downtown area, a historical Italian American neighborhood, the UMKC area and in River Market, in northern Kansas City.
The Historic Kansas City boundary is roughly 58 square miles (150 km2) and has a population density of about 5,000 people per sq. mi. It runs from the Missouri River to the north, 79th Street to the south, the Blue River to the east, and State Line Road to the west. During the 1960s and 1970s, Kansas City annexed large amounts of land, which are largely undeveloped to this day.
Between the 2000 and 2010 Census counts, the urban core of Kansas City continued to drop significantly in population. The areas of Greater Downtown in the center city, and sections near I-435 and I-470 in the south, and Highway 152 in the north are the only areas of Kansas City, Missouri, to have seen an increase in population, with the Northland seeing the greatest population growth.
|Black or African American||29.9%||29.6%||22.1%||10.4%|
|Hispanic or Latino (of any race)||10.0%||3.9%||2.7%||N/A|
The federal government is the largest employer in the Kansas City metro area. More than 146 federal agencies maintain a presence there. Kansas City is one of ten regional office cities for the US government. The Internal Revenue Service maintains a large service center in Kansas City that occupies nearly 1,400,000 square feet (130,000 m2). It is one of only two sites to process paper returns. The IRS has approximately 2,700 full-time employees in Kansas City, growing to 4,000 during tax season. The General Services Administration has more than 800 employees. Most are at the Bannister Federal Complex in South Kansas City. The Bannister Complex is also home to the Kansas City Plant, which is a National Nuclear Security Administration facility operated by Honeywell. Honeywell employs nearly 2,700 at the Kansas City Plant, which produces and assembles 85% of the non-nuclear components of the United States nuclear bomb arsenal. The Social Security Administration has more than 1,700 employees in the Kansas City area, with more than 1,200 at its downtown Mid-America Program Service Center (MAMPSC). The United States Postal Service operates post offices in Kansas City. The Kansas City Main Post Office is at 300 West Pershing Road.
Ford Motor Company operates a large manufacturing facility in Claycomo at the Ford Kansas City Assembly Plant, which builds the Ford F-150. The General Motors Fairfax Assembly Plant is in adjacent Kansas City, Kansas. Smith Electric Vehicles builds electric vehicles in the former TWA/American Airlines overhaul facility at Kansas City International Airport.
One of the largest US drug manufacturing plants is the Sanofi-Aventis plant in south Kansas City on a campus developed by Ewing Kauffman's Marion Laboratories. Of late, it has been developing academic and economic institutions related to animal health sciences, an effort most recently bolstered by the selection of Manhattan, Kansas, at one end of the Kansas City Animal Health Corridor, as the site for the National Bio and Agro-Defense Facility, which researches animal diseases.
Numerous agriculture companies operate out of the city. Dairy Farmers of America, the largest dairy co-op in the United States is located in northern Kansas City. Kansas City Board of Trade is the principal trading exchange for hard red winter wheat, the principal ingredient of bread. The National Association of Intercollegiate Athletics and The National Association of Basketball Coaches are based in Kansas City.
The business community is serviced by two major business magazines, the Kansas City Business Journal (published weekly) and Ingram's Magazine (published monthly), as well as other publications, including a local society journal, the Independent (published weekly).
The Kansas City Federal Reserve Bank built a new building that opened in 2008 near Union Station. Missouri is the only state to have two of the 12 Federal Reserve Bank headquarters (the second is in St. Louis). Kansas City's effort to get the bank was helped by former mayor James A. Reed, who as senator, broke a tie to pass the Federal Reserve Act.
The national headquarters for the Veterans of Foreign Wars is headquartered just south of Downtown.
With a Gross Metropolitan Product of $41.68 billion in 2004, Kansas City's (Missouri side only) economy makes up 20.5% of Missouri's gross state product. In 2014, Kansas City was ranked #6 for real estate investment.
Three international law firms, Lathrop & Gage, Stinson Leonard Street, and Shook, Hardy & Bacon are based in the city.