Reading is a city in and the county seat of Berks County, Pennsylvania, United States. With a population of 87,575, it is the fifth-largest city in Pennsylvania. Located in the southeastern part of the state, it is the principal city of the Greater Reading Area.
The city, which is approximately halfway between the state's most populous city, Philadelphia, and the state capital, Harrisburg (as well as about halfway between Allentown and Lancaster) is strategically situated along a major transportation route from Central to Eastern Pennsylvania, and lent its name to the now-defunct Reading Railroad, which transported anthracite coal from the Pennsylvania Coal Region to the eastern United States via the Port of Philadelphia. Reading Railroad is one of the four railroad properties in the classic United States version of the Monopoly board game.
Reading was one of the first localities where outlet shopping became a tourist industry. It has been known as "The Pretzel City", because of numerous local pretzel bakeries. Currently, Bachman, Dieffenbach, Tom Sturgis, and Unique Pretzel bakeries call the Reading area home.
According to the 2010 census, Reading has the highest share of citizens living in poverty in the nation.
In recent years, the Reading area has become a destination for cyclists. With more than 125 miles of trails in five major preserves, it is an International Mountain Bicycling Association Ride Center and held the Reading Radsport Festival on September 8–9, 2017.
In April 2017, it was announced that an indoor velodrome, or cycling track, will be built in Reading as the first of its kind on the East Coast and only the second in the entire country. Albright College and the World Cycling League formally announced plans April 6, 2017, to build the $20 million, 2,500-seat facility, which will be called the National Velodrome and Events Center at Albright College. It will also serve as the Cycling League's world headquarters.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Reading, Pennsylvania. 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 Reading, Pennsylvania, 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%
In the State of Pennsylvania, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
|New York-Newark-Jersey City, NY-NJ-PA||$414,000||4.70%|
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 Pennsylvania.
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 2010 census, the city was 48.4% White, 13.2% Black or African American, 0.9% Native American, 1.2% Asian, 0.1% Native Hawaiian, and 6.1% were two or more races. 58.2% of the population were of Hispanic or Latino ancestry.
As of the census of 2000, there were 30,113 households, out of which 33.7% had children under the age of 18 living with them, 34.4% were married couples living together, 20.2% had a female householder with no husband present, and 38.8% were non-families. 31.7% of all households were made up of individuals, and 12.4% had someone living alone who was 65 years of age or older. The average household size was 2.63 and the average family size was 3.33.
In the city, the population was spread out, with 29.9% under the age of 18, 11.7% from 18 to 24, 28.9% from 25 to 44, 17.0% from 45 to 64, and 12.4% who were 65 years of age or older. The median age was 31 years. For every 100 females, there were 93.3 males. For every 100 females age 18 and over, there were 88.5 males.
The median income for a household in the city was $26,698, and the median income for a family was $31,067. Males had a median income of $28,114 versus $21,993 for females. The per capita income for the city was $13,086. 26.1% of the population and 22.3% of families were below the poverty line. 36.5% of those under the age of 18 and 15.6% of those 65 and older were living below the poverty line.
Companies based in Reading and surrounding communities include Boscov's, Carpenter, GK Elite Sportswear, Penske Truck Leasing, and Redner's Markets.
In 2012, The New York Times called Reading "the nation's poorest city."
According to the Greater Reading Chamber of Commerce and Industry, the largest employers in the Berks county area are
|#||Employer||# of Employees|
|2||East Penn Manufacturing Co.||6,851|
|4||County of Berks||2,370|
|5||Reading School District||1,903|
|7||Wal-Mart Stores, Inc.||1,818|
|9||St. Joseph Medical Center||1,566|
|10||Penske Truck Leasing||1,535|
Jump Start Incubator, a program of Berks County Community Foundation and the Kutztown University Small Business Development Center, is intended to help entrepreneurs open new businesses in the area.