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NE Avg Real Estate Commission Rate in Lincoln, Nebraska

Lincoln is the capital of the U.S. state of Nebraska and the county seat of Lancaster County. The city covers 93.46 square miles (242.06 km2) with a population of 280,364 in 2016. It is the second-most populous city in Nebraska and the 71st-largest in the United States. The city is the economic and cultural anchor of a substantially larger metropolitan area in the southeastern part of the state called the Lincoln Metropolitan and Lincoln-Beatrice Combined Statistical Areas. The statistical area is home to 348,720 people, making it the 105th-largest combined statistical area in the United States.

The city was founded in 1856 as the village of Lancaster on the wild salt marshes of what was to become Lancaster County. In 1867, the village of Lancaster became Nebraska's state capital and was renamed Lincoln. The Bertram G. Goodhue designed state capitol building was completed in 1932 and is the second tallest capitol in the United States. As the city is the seat of government for the state of Nebraska, the state and the United States government are major employers. The University of Nebraska was founded in Lincoln in 1867. The university is the largest in Nebraska with 26,079 students enrolled and is the city's third-largest employer. Other primary employers fall within the service and manufacturing industries, including a growing high-tech sector. The region makes up a part of what is known as the greater Midwest Silicon Prairie.

Designated as a "refugee-friendly" city by the U.S. Department of State in the 1970s, the city was the twelfth-largest resettlement site per capita in the United States by 2000. Refugee Vietnamese, Karen (Burmese ethnic minority), Sudanese and Yazidi (Iraqi ethnic minority) people, as well as refugees from the Middle East, have been resettled in the city. Lincoln Public Schools during the school year of 2017–18 provided support for approximately 3,100 students from 100 countries, who spoke 50 different languages.

 

Lincoln, Nebraska 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 Lincoln, Nebraska. 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 Lincoln, Nebraska, 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 Nebraska, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Lincoln $178,100 9.5%
Omaha-Council Bluffs, NE-IA $180,500 6.3%
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 Nebraska.

 

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 258,379 people, 103,546 households, and 60,300 families residing in the city. The population density was 2,899.6 inhabitants per square mile (1,119.5/km2). There were 110,546 housing units at an average density of 1,240.6 per square mile (479.0/km2). The racial makeup of the city was 86.0% White, 3.8% African American, 0.8% Native American, 3.8% Asian, 0.1% Pacific Islander, 2.5% from other races, and 3.0% from two or more races. Hispanic or Latino of any race were 6.3% of the population.

There were 103,546 households of which 27.7% had children under the age of 18 living with them, 44.0% were married couples living together, 10.2% had a female householder with no husband present, 4.1% had a male householder with no wife present, and 41.8% were non-families. 31.3% of all households were made up of individuals and 8.8% had someone living alone who was 65 years of age or older. The average household size was 2.36 and the average family size was 3.01.

The median age in the city was 31.8 years. 22.7% of residents were under the age of 18; 15.7% were between the ages of 18 and 24; 27.9% were from 25 to 44; 22.9% were from 45 to 64; and 10.7% were 65 years of age or older. The gender makeup of the city was 50.0% male and 50.0% female.

 

ECONOMY:

Lincoln's economy is fairly typical of a mid-sized American city; most economic activity is derived from the service and manufacturing industries. Government and the University of Nebraska are both large contributors to the local economy. Other prominent industries in Lincoln include finance, insurance, publishing, manufacturing, pharmaceutical, telecommunications, railroads, high technology, information technology, medical, education and truck transport.

For January 2018, the Lincoln Metropolitan Statistical Area (MSA) preliminary unemployment rate was 2.7% (not seasonally adjusted). With a tight labor market, Lincoln has seen rapid wage growth. From the summer of 2014 to the summer of 2015, the average hourly pay for both public and private employees have increased by 11%. From October 2014 to October 2015, wages were also up by 8.4%.

One of the largest employers is Bryan Health, which consists of two major hospitals and several large outpatient facilities located across the city. Healthcare and medical jobs account for a substantial portion of Lincoln's employment: as of 2009, full-time healthcare employees in the city included 9,010 healthcare practitioners in technical occupations, 4,610 workers in healthcare support positions, 780 licensed and vocational nurses, and 150 medical and clinical laboratory technicians.

Several national business were originally established in Lincoln; these include student lender Nelnet, Ameritas, Assurity, Fort Western Stores and HobbyTown USA. Several regional restaurant chains began in Lincoln, including Amigos/Kings Classic, Runza Restaurants, and Valentino's.

The Lincoln area makes up a part of what is known as the greater Midwest Silicon Prairie. The city is also a part of a rapidly growing craft brewing industry. In 2013, Lincoln ranked No. 4 on Forbes' list of the Best Places for Business and Careers and No. 1 on "NerdWallet's Best Cities for Job Seekers in 2015.

Principal employers

According to the City's 2017 Comprehensive Annual Financial Report, the principal employers of the city are:

# Employer # of Employees
1 State of Nebraska 9,097
2 Lincoln Public Schools 8,400
3 University of Nebraska-Lincoln 6,487
4 Bryan Health 3,500
5 US Government 3,465
6 City of Lincoln 2,648
7 Saint Elizabeth Regional Medical Center 2,300
8 Burlington Northern Railroad 2,000
9 Madonna Rehabilitation Hospital 1,500
10 Duncan Aviation 1,200

 

*Data provided by Bankrate.com - Real Estate and Wikipedia - Lincoln - Nebraska