Madison is the capital of the U.S. state of Wisconsin and the seat of Dane County. As of July 1, 2016, Madison's estimated population of 252,551 made it the second-largest city in Wisconsin, after Milwaukee, and the 82nd-largest in the United States. The city forms the core of the United States Census Bureau's Madison Metropolitan Statistical Area, which includes Dane County and neighboring Iowa, Green, and Columbiacounties. The Madison Metropolitan Statistical Area's 2010 population was 568,593.
Madison is the larger principal city of the Madison-Janesville-Beloit, WI CSA, a Combined Statistical Area that includes the Madison metropolitan area (Columbia, Dane, Green and Iowa counties), the Janesville-Beloit metropolitan area (Rock County), and the Baraboo micropolitan area (Sauk County). As of July 1, 2016, the Madison MSA had an estimated population of 648,929 and the Madison CSA had an estimated population of 874,498.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Madison, Wisconsin. 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 Madison, Wisconsin, 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 Wisconsin, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
|Fond du Lac||$128,500||1.80%|
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 Wisconsin.
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 2010, there were 233,209 people, 102,516 households, and 47,824 families residing in the city. The population density was 3,037.0 inhabitants per square mile (1,172.6/km2). There were 108,843 housing units at an average density of 1,417.4 per square mile (547.3/km2). The racial makeup of the city was 78.9% White, 7.3% African American, 0.4% Native American, 7.4% Asian, 2.9% from other races, and 3.1% from two or more races. Hispanicor Latino of any race were 6.8% of the population.
There were 102,516 households of which 22.2% had children under the age of 18 living with them, 35.1% were married couples living together, 8.4% had a female householder with no husband present, 3.2% had a male householder with no wife present, and 53.3% were non-families. 36.2% of all households were made up of individuals and 7.5% had someone living alone who was 65 years of age or older. The average household size was 2.17 and the average family size was 2.87.
The median age in the city was 30.9 years. 17.5% of residents were under the age of 18; 19.6% were between the ages of 18 and 24; 31.4% were from 25 to 44; 21.9% were from 45 to 64; and 9.6% were 65 years of age or older. The gender makeup of the city was 49.2% male and 50.8% female.
Wisconsin state government and the University of Wisconsin–Madison remain the two largest Madison employers. However, Madison's economy today is evolving from a government-based economy to a consumer services and high-tech base, particularly in the health, biotech, and advertising sectors. Beginning in the early 1990s, the city experienced a steady economic boom and has been less affected by recession than other areas of the state. Much of the expansion has occurred on the city's south and west sides, but it has also affected the east side near the Interstate 39-90-94 interchange and along the northern shore of Lake Mendota. Underpinning the boom is the development of high-tech companies, many fostered by UW–Madison working with local businesses and entrepreneurs to transfer the results of academic research into real-world applications, especially bio-tech applications.
Many businesses are attracted to Madison's skill base, taking advantage of the area's high level of education. 48.2% of Madison's population over the age of 25 holds at least a bachelor's degree. Forbes magazine reported in 2004 that Madison has the highest percentage of individuals holding Ph.D.s in the United States. In 2006, the same magazine listed Madison as number 31 in the top 200 metro areas for "Best Places for Business and Careers." Madison has also been named in Forbes ten Best Cities several times within the past decade. In 2009, in the midst of the late-2000s recession, Madison had an unemployment rate of 3.5% and was ranked number one in a list of "ten cities for job growth".
The largest employer in Madison is the Wisconsin state government, excluding employees of the University of Wisconsin–Madison, and University of Wisconsin Hospital and Clinics employees, although both groups of workers are state employees.
The University of Wisconsin Hospital and Clinics is an important regional teaching hospital and regional trauma center, with strengths in transplant medicine, oncology, digestive disorders, and endocrinology. Other Madison hospitals include St. Mary's Hospital,Meriter Hospital, and the VA Medical Center.
Madison is home to companies such as Spectrum Brands (formerly Rayovac), Alliant Energy, the Credit Union National Association (CUNA), MGE Energy, Aprilaire, and Sub-Zero & Wolf Appliance. Insurance companies based in Madison include American Family Insurance, CUNA Mutual Group, and National Guardian Life.
Technology companies in Madison include Google, Microsoft, Broadjam, a regional office of CDW, Full Compass Systems, Raven Software, and TDS Telecom. Biotech firms include Panvera (now part of Invitrogen). The contract research organization Covance is a major employer in the city. Madison's community hackerspaces/makerspaces are Sector67, which serves inventors and entrepreneurs, and The Bodgery, which serves hobbyists, artists, and tinkerers. Epic Systems was based in Madison from 1979 to 2005, when it moved to a larger campus in nearby Verona. Other firms include Nordic, Forward Health, and Forte Research Systems.
Oscar Mayer was a Madison fixture for decades, and was a family business for many years before being sold to Kraft Foods. The Onion satirical newspaper, as well as the pizza chains Rocky Rococo and the Glass Nickel Pizza Company, originated in Madison.