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IN Avg Real Estate Commission Rate in South Bend, Mishawaka, Indiana

South Bend is a city in and the county seat of St. Joseph County, Indiana, United States, on the St. Joseph River near its southernmost bend, from which it derives its name. As of the 2010 census, the city had a total of 101,168 residents; its Metropolitan Statistical Area had a population of 318,586 and Combined Statistical Area of 721,296. It is the fourth-largest city in Indiana, serving as the economic and cultural hub of Northern Indiana. The highly ranked University of Notre Dame is located just to the north in unincorporated Notre Dame, Indiana and is an integral contributor to the region's economy.

The area was originally settled in the early 19th century by fur traders and was established as a city in 1865. The St. Joseph River shaped South Bend's economy through the mid-20th century. River access assisted heavy industrial development such as that of the Studebaker Corporation, the Oliver Chilled Plow Company, and other large corporations.

The population of South Bend declined after 1960, when it had a peak population of 132,445. This was chiefly due to migration to suburban areas as well as the demise of Studebaker and other heavy industry. Today, the largest industries in South Bend are health care, education, small business, and tourism. Remaining large corporations include Crowe Horwath, Honeywell, and AM General.

Recently, the city population has started to grow for the first time in nearly fifty years. The old Studebaker plant and surrounding area, now called Ignition Park, is being redeveloped as a technology center to attract new industry.

The city has also been featured in national news coverage for Mayor Pete Buttigieg, who has achieved recognition for his various economic development projects within the city, his position as the youngest mayor to be elected in a city of more than 100,000 residents, and his essay in which he came out as the first openly gay executive in the state of Indiana.

 

South Bend, Mishawaka, Indiana 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 South Bend-Mishawaka, IN-MI, Indiana. 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 South Bend-Mishawaka, Indiana, 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 Indiana, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Chicago-Naperville-Elgin, IL-IN-WI $364,300 7.30%
Cinncinnati, OH-KY-IN $168,600 5.00%
Fort Wayne $133,800 4.20%
Gary-Hammond $163,900 9.00%
Indianapolis-Carmel-Anderson $176,200 7.20%
Louisville/Jefferson County $176,700 7.70%
South Bend-Mishawaka, IN-MI $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 Indiana.

 

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 101,168 people, 39,760 households, and 23,526 families residing in the city. The population density was 2,440.1 inhabitants per square mile (942.1/km2). There were 46,324 housing units at an average density of 1,117.3 per square mile (431.4/km2). The racial makeup of the city was 60.5% White, 26.6% African American, 0.5% Native American, 1.3% Asian, 0.1% Pacific Islander, 6.9% from other races, and 4.2% from two or more races. Hispanic or Latino of any race were 13.0% of the population.

There were 39,760 households of which 33.1% had children under the age of 18 living with them, 34.9% were married couples living together, 18.9% had a female householder with no husband present, 5.4% had a male householder with no wife present, and 40.8% were non-families. 33.3% Of all households were made up of individuals and 11.4% had someone living alone who was 65 years of age or older. The average household size was 2.48 and the average family size was 3.19.

The median age in the city was 33.3 years. 27.3% of residents were under the age of 18; 10% were between the ages of 18 and 24; 27.1% were from 25 to 44; 23.1% were from 45 to 64; and 12.5% were 65 years of age or older. The gender makeup of the city was 48.4% male and 51.6% female.

 

ECONOMY:

South Bend's location on the St. Joseph River led to an industrial-based economy in the late 19th century and early-to-mid-20th century. In 1923, industrialist and entrepreneur Vincent H. Bendix selected South Bend as the site of his new manufacturing plant for automotive parts. He chose South Bend primarily because it was on a rail line midway between Chicago and Detroit, the two automotive manufacturing centers of the United States at the time. Eventually, the Bendix corporation built a vast manufacturing complex on its South Bend acreage served by the major railroads, including a huge shipping and receiving building where railroad cars could enter at one end, unload, and depart at the opposite end.

By the end of World War II, manufacturing began to diminish. The Studebaker plant, which had at one time employed 45,000 citizens, closed in 1963; its engine block plant shuttered the following year. Parts of the Bendix factory complex were later acquired and subdivided between Honeywell Corporation and Bosch Corporation respectively. Honeywell Aerospace continues to manufacture aviation products at its former Bendix facility. In 2010, Bosch announced that it would cease all operations at its Bendix plant location in South Bend by the end of 2011. Bosch vacated the building entirely in October 2012. Curtis Products of South Bend moved into the building in May 2013.

Employers

Since the 1960s, education, health care, and small business have come to the forefront of South Bend's economy, though the city has never regained the level of prosperity it enjoyed before that time. Nearby University of Notre Dame is a large contributor to the local economy. The university is the largest employer in St. Joseph County, employing 5,590 people.

Health care is another major contributor to the South Bend economy. In 2012, Memorial Health System announced that it was merging with Elkhart General Hospital, located in Elkhart County, to form Beacon Health System. Beacon is the second largest employer in the city, employing 3,450 people. Other notable businesses include Honeywell, Bosch, and PEI Genesis. AM General, Crowe Horwath, Martin's Super Markets, and Schurz Communications all have corporate headquarters in South Bend.

According to the 2013 Comprehensive Annual Financial Report, the city's top employers are:

# Employer # of employees
1 University of Notre Dame 5,590
2 Beacon Medical Group 3,450
3 South Bend Community School Corporation 2,880
4 AM General 2,858
5 Saint Joseph Regional Medical Center 2,597
6 Martin's Super Markets 1,555
7 Meijer, Inc. 1,450
8 Indiana University South Bend 1,445
9 Walmart 1,245
10 City of South Bend 1,131

 

*Data provided by Bankrate.com - Real Estate and Wikipedia - South Bend - Indiana