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WI Avg Real Estate Commission Rate in Milwaukee, Wisconsin

Milwaukee is the largest city in Wisconsin and the fifth-largest city in the Midwestern United States. The county seat of Milwaukee County, it is on Lake Michigan's western shore. Ranked by estimated 2014 population, Milwaukee was the 31st largest city in the United States. The city's estimated population in 2015 was 600,155. Milwaukee is the main cultural and economic center of the Milwaukee metropolitan area. It is also part of the larger Milwaukee-Racine-Waukesha combined statistical area, which had an estimated population of 2,026,243 in the 2010 census. Milwaukee is also the second most densely populated metropolitan area in the Midwest, surpassed only by Chicago.

The first Europeans to pass through the area were French Catholic missionaries and fur traders. In 1818, the French Canadian explorer Solomon Juneau settled in the area, and in 1846, Juneau's town combined with two neighboring towns to incorporate as the city of Milwaukee. Large numbers of German immigrants helped increase the city's population during the 1840s, with Poles and other immigrants arriving in the following decades.

Milwaukee is known for its brewing traditions. The city is experiencing its largest construction boom since the 1960s. Major new additions to the city in the past two decades include the Milwaukee Riverwalk, the Wisconsin Center, Miller Park, an expansion to the Milwaukee Art Museum, Milwaukee Repertory Theater, and Pier Wisconsin, as well as major renovations to the UW–Milwaukee Panther Arena. The under-construction Wisconsin Entertainment and Sports Center is scheduled to open in 2018.

 

Milwaukee, Wisconsin 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 Milwaukee, 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 Milwaukee, 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
Appleton $171,200 9.70%
Chicago $264,300 7.30%
Fond du Lac $128,500 1.80%
Green Bay $163,400 9.50%
Madison $273,400 10.20%
Milwaukee $246,900 7.30%
Minneapolis-St. Paul $259,000 6.80%
Oshkosh $140,300 7.70%
 
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 Wisconsin.

 

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:

About 30.5% of households in 2000 had children under the age of 18 living with them. 32.2% of households were married couples living together, 21.1% had a female householder with no husband present, and 41.8% were non-families. 33.5% of all households were single individuals, and 9.5% had someone living alone who is 65 years of age or older. The average household size was 2.50 people per household, with the average family size at 3.25 people per family.

In 2000, the Census estimated at least 1,408 same-sex households in Milwaukee, or about 0.6% of all households in the city. Gay-friendly communities have developed primarily in Walker's Point, but also in Bay View, Historic Third Ward, Washington Heights, Riverwest, and the East Side. In 2001, Milwaukee was named the #1 city for lesbians by Girlfriends magazine.

The city's population is spread out with 28.6% under the age of 18, 12.2% from 18 to 24, 30.2% from 25 to 44, 18.1% from 45 to 64, and 10.9% who are 65 years of age or older. The median age is 31 years. For every 100 females there are 91.6 males. For every 100 females age 18 and over, there are 87.2 males.

The median income for a household in the city is $32,216, and the median income for a family is $37,879. Males have a median income of $32,244 versus $26,013 for females. The per capita income for the city is $16,181. 21.3% of the population and 17.4% of families are below the poverty line. In 2010, rent increased an averaged 3% for home renters in Milwaukee. Out of the total population, 31.6% of those under the age of 18 and 11.0% of those 65 and older are living below the poverty line.

According to the 2010 Census, 44.8% of the population was White (37.0% non-Hispanic white), 40.0% was Black or African American, 0.8% American Indian and Alaska Native, 3.5% Asian, 3.4% from two or more races. 17.3% of Milwaukee's population was of Hispanic, Latino, or Spanish origin (they may be of any race) (11.7% Mexican, 4.1% Puerto Rican).

According to the 2006–2008 American Community Survey, 38.3% of Milwaukee's residents reported having African American ancestry and 20.8% reported German ancestry. Other significant population groups include Polish(8.8%), Irish (6.5%), Italian (3.6%), English (2.8%), and French (1.7%). According to the 2010 United States Census, the largest Hispanic backgrounds in Milwaukee as of 2010 were: Mexican (69,680), Puerto Rican (24,672), Other Hispanic or Latino (3,808), Central American (1,962), South American (1,299), Cuban (866) and Dominican (720).

The Milwaukee metropolitan area was cited as being the most segregated in the U.S. in a Jet Magazine article in 2002. The source of this information was a segregation index developed in the mid-1950s and used since 1964. In 2003, a non-peer reviewed study was conducted by hired researchers at the University of Wisconsin–Milwaukee which claimed Milwaukee is not "hypersegregated" and instead ranks as the 43rd most integrated city in America. In 2011, according to an article by Daniel Denvir at www.salon.org, John Paul Dewitt of censusscope.org and the University of Michigan's Social Science Data Analysis Network looks at census data and finds Milwaukee to be the most segregated urban area in the US. Through continued dialogue between Milwaukee's citizens, the city is trying to reduce racial tensions and the rate of segregation. With demographic changes in the wake of white flight, segregation in metropolitan Milwaukee is primarily in the suburbs rather than the city as in the era of Father Groppi.

In 2015 Milwaukee was rated as the "worst city for black Americans" based on disparities in employment and income levels. The city's black population experiences disproportionately high levels of incarceration and a severe educational achievement gap.

In 2013 Mark Pfeifer, the editor of the Hmong Studies Journal, stated Hmong in Milwaukee had recently been moving to the northwest side of Milwaukee; they historically lived in the north and south areas of Milwaukee. The Hmong American Peace Academy/International Peace Academy, a K-12 school system in Milwaukee centered on the Hmong community, opened in 2004.

 

ECONOMY:

Milwaukee's economy today

In 2007, three Milwaukee-area companies were among nine firms honored for manufacturing excellence in the Wisconsin Manufacturer of the Year competition. Astronautics Corporation of America and Brady Corporation, both of which have headquarters in Milwaukee, and Wisconsin Plating Works Inc., Racine, each received special awards. Privately held Astronautics, a major supplier of government and commercial avionics, was honored for its high-technology research and development program. Brady, a publicly owned manufacturer of signs, labels and other identification and security products, received an award for corporate excellence. Privately owned Wisconsin Plating Works, which provides metal finishing services, received an award for employee and environmental stewardship. Nominated companies were evaluated in areas such as financial growth or consistency, technological advances, product development, environmental solutions, operational excellence/continuous improvement, commitment to employees, and effective research and development.

Rockwell Automation Headquarters and Allen-Bradley Clock Tower

Milwaukee is the home to the international headquarters of six Fortune 500 companies: Johnson Controls, Northwestern Mutual, Manpower, Rockwell Automation, Harley-Davidson and Joy Global. Other companies based in Milwaukee include Briggs & Stratton, Marshall & Ilsley (acquired by BMO Harris Bank in 2010), Hal Leonard, Wisconsin Energy, the American Society for Quality, A. O. Smith, Rexnord, Master Lock, American Signal Corporation, GE Healthcare Diagnostic Imaging and Clinical Systems and MGIC Investments. The Milwaukee metropolitan area ranks fifth in the United States in terms of the number of Fortune 500 company headquarters as a share of the population. Milwaukee also has a large number of financial service firms, particularly those specializing in mutual funds and transaction processing systems, and a number of publishing and printing companies.

Service and managerial jobs are the fastest-growing segments of the Milwaukee economy, and health care alone makes up 27% the jobs in the city.

In 2009, five Milwaukee-area companies were selected as leaders in their industries as Fortune magazine recognized "The World's Most-Admired Companies." Two Milwaukee companies ranked second in their field: Manpower Inc.in the temporary help industry and Northwestern Mutual in life and health insurance. Johnson Controls Inc., Glendale, placed fourth among motor-vehicle parts firms. Ranked fifth were Fiserv Inc., Brookfield, in financial data services and Kohl's Corp., Menomonee Falls, among general merchandisers.

*Data provided by Bankrate.com - Real Estate and Wikipedia - Milwaukee - Wisconsin