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MI Avg Real Estate Commission Rate in Lansing, East Lansing, Michigan

Lansing is the capital of the U.S. state of Michigan. It is mostly in Ingham County, although portions of the city extend west into Eaton County and north into Clinton County. The 2010 Census placed the city's population at 114,297, making it the fifth largest city in Michigan. The population of its Metropolitan Statistical Area (MSA) was 464,036, while the even larger Combined Statistical Area (CSA) population, which includes Shiawassee County, was 534,684. It was named the new state capital of Michigan in 1847, ten years after Michigan became a state.

The Lansing Metropolitan Area, colloquially referred to as "Mid-Michigan", is an important center for educational, cultural, governmental, commercial, and industrial functions. The area is home to two medical schools, one veterinary school, two nursing schools, two law schools—including Western Michigan University Cooley Law School and Michigan State University College of Law, a Big Ten Conference university - (Michigan State University), the Michigan State Capitol, the state Supreme Court, the Court of Appeals, a federal court, the Library of Michigan and Historical Center, and headquarters of four national insurance companies.

Lansing is the only U.S. state capital (among the 47 located in counties) that is not also a county seat. The seat of government of Ingham County is Mason, but the county maintains some offices in Lansing.

 

Lansing, 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 Lansing-East Lansing, 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 Lansing-East Lansing, 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 2000, there were 119,128 people, 49,505 households, and 28,366 families residing in the city. The population density was 3,399.0 per square mile (1,312.3/km²). There were 53,159 housing units at an average density of 1,516.8/sq mi (585.6/km²). The racial makeup of the city was 65.28% White (61.4% non-Hispanic White), 21.91% African American, 0.80% Native American, 2.83% Asian, 0.05% Pacific Islander, 4.54% from other races, and 4.60% from two or more races. Hispanic or Latino of any race were 10.0% of the population. The city's foreign-born population stood at 5.9%.

As of 2000, the city's population rose by 32,293 (27%) to 151,421 during the day due to the influx of workers.

There were 49,505 households out of which 30.0% had children under the age of 18 living with them, 35.8% were married couples living together, 17.0% had a female householder with no husband present, and 42.7% were non-families. 33.2% of all households were made up of individuals and 8.1% had someone living alone who was 65 years of age or older. The average household size was 2.39 and the average family size was 3.08.

In the city, the population was spread out with 26.8% under the age of 18, 11.4% from 18 to 24, 32.7% from 25 to 44, 19.3% from 45 to 64, and 9.7% who were 65 years of age or older. The median age was 31 years. For every 100 females there were 92.3 males. For every 100 females age 18 and over, there were 87.9 males.

The median income for a household in the city was $34,833, and the median income for a family was $41,283. Males had a median income of $32,648 versus $27,051 for females. The per capita income for the city was $17,924. About 13.2% of families and 16.9% of the population were below the poverty line, including 23.2% of those under age 18 and 9.0% of those age 65 or over.

 

ECONOMY:

The Lansing metropolitan area's major industries are government, education, insurance, healthcare, and automobile manufacturing. Being the state capital, many state government workers reside in the area.

Michigan State University, Thomas M. Cooley Law School, and Lansing Community College are significant employers in the region.

General Motors has offices and a hi-tech manufacturing facility in Lansing and several manufacturing facilities immediately outside the city, as well, in nearby Lansing and Delta townships. The Lansing area is headquarters to four major national insurance companies: Auto-Owners Insurance Company, Jackson National Life, the Accident Fund, and Michigan Millers Insurance Company. Other insurers based in Lansing include Farm Bureau Insurance of Michigan.

Locally owned and operated convenience store chain Quality Dairy is a significant presence in the Lansing market.

The recent decline of the auto industry in the region has increased the region's awareness of the importance of a strategy to foster the high-technology sector.

Early availability of high-speed Internet in 1996, as well as the MSU, Cooley Law School, and Lansing Community College student body population, fostered an intellectual environment for information technology companies to incubate. Lansing has a number of technology companies in the fields of information technology and biotechnology.

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