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WA Avg Real Estate Commission Rate in Spokane, Spokane Valley, Washington

The Spokane–Spokane Valley Metropolitan Statistical Area, as defined by the United States Census Bureau, is an area consisting of Spokane, Stevens, and Pend Oreille Counties in Washington State, anchored by the city of Spokane and its largest suburb, Spokane Valley. As of 2016 the MSA had a population of 556,634. The Spokane Metropolitan Area and the neighboring Coeur d'Alene metropolitan area, make up the larger Spokane-Coeur d'Alene Combined Statistical Area. The urban areas of the two MSAs largely follow the path of Interstate 90 between Spokane and Coeur d'Alene. In 2010, the Spokane–Spokane Valley MSA had a gross metropolitan product of $19.48 billion.

 

Spokane, Spokane Valley, Washington 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 Spokane-Spokane Valley, Washington. 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 Spokane-Spokane Valley, Washington, 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 West rose 7.5%, to $372,400, 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 Washington, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Kennewick-Richland $235,700 4.70%
Portland-Vancouver-Hillsboro, OR-WA $389,100 9.1%
Seattle-Tacoma-Bellevue $475,400 13.10%
Spokane-Spokane Valley $225,000 7.40%
 
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 Washington.

 

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:

According to the American Community Survey, the median income for a household in Spokane in 2012 was $42,274, and the median income for a family was $50,268. Males had a median income of $42,693 and females had a median income of $34,795. The per capita income for the city was $24,034. About 13.3% of families and 18.7% of the population were below the poverty line, including 23.8% of those under the age of 18 and 10.8% of those aged 65 and older.

At the 2010 census, there were 208,916 people, 87,271 households, and 49,204 families residing in the city. The population density was 3,526.0 inhabitants per square mile (1,361.4/km2). There were 94,291 housing units at an average density of 1,591.4 per square mile (614.4/km2). The racial makeup of the city was 84.00% White, 5.00% Hispanics and Latinos, 3.80% biracial, 2.50% Asian, 2.20% African American, 1.80% Native American, 0.60% Pacific Islander and 0.10% from other races.

There were 87,271 households, of which 28.9% had children under the age of 18 living with them, 38.5% were married couples living together, 12.9% had a female householder with no husband present, 5.0% had a male householder with no wife present, and 43.6% were non-families. In 2010, 34.2% of all households were made up of individuals, and 11% had someone living alone who was 65 years of age or older. The average household size was 2.31 and the average family size was 2.97.

The median age in the city was 35 years. In Spokane, 22.4% of residents were under the age of 18, 12.3% were between the ages of 18 and 24, 27.6% were from 25 to 44, 25.1% were from 45 to 64, and 12.8% were 65 years of age or older. The gender makeup of the city was 48.8% male and 51.2% female.

The Episcopal Cathedral of St. John the Evangelist dominates the South Hill skyline

Cathedral of St. John the Evangelist

 

According to the Association of Religion Data Archives' 2010 Metro Area Membership Report, the denominational affiliations of the Spokane MSA are 64,277 Evangelical Protestant, 682 Black Protestant, 24,826 Mainline Protestant, 754 Orthodox, 66,202 Catholic, 31,674 Other, and 339,338 Unclaimed. As of 2016, there are also at least three Jewish congregations.The Emanu-El congregation erected the first synagogue in Spokane and the state of Washington on September 14, 1892. The city's first mosque opened in 2009 as the Spokane Islamic Center. Spokane, like Washington and the Pacific Northwest region as a whole, is part of the Unchurched Belt, a region characterized by low church membership rates and religious participation. The city serves as the seat of the Roman Catholic Diocese of Spokane, which was established in 1913, and the Mormon Spokane Washington Temple District.

Spokane has been criticized and sometimes derided for its lack of diversity and multicultural offerings, but the city has become more diverse in recent decades. People from countries in the former Soviet Union (especially Russians and Ukrainians) form a comparatively large demographic in Spokane and Spokane County, the result of a large influx of immigrants and their families after the collapse of the Soviet Union in 1991. According to the 2000 Census, the number of people of Russian or Ukrainian ancestry in Spokane County was reported to be 7,700 (4,900 residing in the city of Spokane), amounting to two percent of the county. Among the fastest-growing demographics in Spokane is the Pacific Islander ethnic group, which is estimated to be the third largest minority group in the county, after the Russian and Ukrainian community and Latinos. Spokane was once home to a sizable Asian community, mostly Japanese, centered in a district called Chinatown from the early days of the city until 1974.As in many western railway towns, the Asian community started off as an encampment for migrant laborers working on the railroads. The Chinatown Asian community thrived until the 1940s, after which its population decreased and became integrated and dispersed, losing its Asian character; urban blight and the preparations leading up to Expo '74 led to Chinatown's eventual demolition.

Aerial photo of Kootenai and Spokane County

 

Spokane and its metro area in general, particularly northern Idaho has been stigmatized in the popular consciousness by a number of hate groups that have been set up in and around Coeur d'Alene, Idaho in the past. Low ethnic diversity made the region a destination for some seeking to escape more cosmopolitan cities for a locale with a relatively homogenous, white population. This trend increased with the arrival of retired engineer Richard Butler from California who traveled to Hayden, Idaho in 1974 to eventually establish a white supremacist church called the Church of Jesus Christ Christian, better known by its political arm, the Aryan Nations. Aryan Nations recruits and associates were responsible for several hate crimes and terror plots during the mid 1980s and 1990s. The group went defunct in 2000 when the Southern Poverty Law Center filed a civil suit which resulted in a $6.3 million settlement, which led to the eventual bankruptcy and closure of their Hayden compound. Another significant act of hate was the attempted bombing of Spokane's Martin Luther King Day Parade by Kevin Harpham of Addy, Washington in 2011. The Southern Poverty Law Center currently lists three hate groups in the Spokane and Coeur d'Alene metro areas, in the categories of anti-Muslim, Holocaust denial, and general hate.

 

ECONOMY:

Spokane became an important rail and shipping center because of its location between mining and farming areas. In the early 1880s, gold and silver were discovered in the Inland Empire; as a regional shipping center, the city furnished supplies to the miners who passed through on their way to the mineral-rich Coeur d'Alene, Colville and Kootenay districts. The mining districts are still considered among the most productive in North America.

Natural resources have historically been the foundation of Spokane's economy, with the mining, logging, and agriculture industries providing much of the region's economic activity. After mining declined at the turn of the 20th century, agriculture and logging replaced mining as the primary influences in the economy. Lumberjacks and millmen working in the hundreds of mills along the railroads, rivers, and lakes of northern Washington and Idaho were provisioning themselves in Spokane. Agriculture has always been an important sector in the local economy. The surrounding area, especially to the south is the Palouse, a region that has long been associated with farming, especially wheat production where it is one of the largest wheat producing regions in the United States. As with the mining industry in the late 1880s, Spokane was an important agricultural market and trade center. Inland Empire farmers exported wheat, livestock and other agricultural products to the ports such as New York, Liverpool and Tokyo. Today, a large share of the wheat produced in the region is shipped to Far East markets. The Inland Northwest also supports many vineyards and microbreweries as well. By the early 20th century Spokane was primarily a commercial center rather than an industrial center.

The Old National Bank Building in Spokane's Central Business District

The Old National Bank Building

 

In Spokane, wood and food processing, printing and publishing, primary metal refining and fabrication, electrical and computer equipment, and transportation equipment are leaders in the manufacturing sector. Gold mining company Gold Reserve, and Fortune 1000 company Potlatch Corporation – a forest products company that operates as a real estate investment trust – are headquartered in the city proper. Mining, forestry, and agribusiness remain important to the local and regional economy, but Spokane's economy has diversified to include other industries, including the high-tech and biotech sectors. Spokane is becoming a more service-oriented economy in the face of a less prominent manufacturing sector which declined in the 1980s, particularly as a medical and biotechnology center; Fortune 1000 technology company Itron, for instance, is headquartered in the area. Avista Corporation, the holding company of Avista Utilities, is the only company in Spokane that has been listed in the Fortune 500, ranked 299 on the list in 2002. Other companies with head offices in the Spokane area include technology company Key Tronic, vacation rental provider Stay Alfred, and microcar maker Commuter Cars. Despite diversification to new industries, Spokane's economy has struggled in recent decades. Spokane was ranked the #1 "Worst City For Jobs" in America in both 2012 and 2015, while also ranking #4 in 2014. Additionally, Forbes named Spokane the "Scam Capital of America" in 2009 due to widespread business fraud. Trends of fraud were noted as far back as 1988, again in 2002, and continuing through 2011.

As of 2013, the top five employers in Spokane are the State of Washington, Spokane Public Schools, Providence Sacred Heart Medical Center and Children's Hospital, the 92d Air Refueling Wing, and Spokane County. The largest military facility and employer, the 92d Air Refueling Wing, is stationed at Fairchild Air Force Base near Airway Heights. The leading industries in Spokane for the employed population 16 years and older were educational services, health care, and social assistance (26.5 percent), retail trade (12.7 percent), and arts, entertainment, recreation, and accommodation food services (10.4 percent). As the metropolitan center of the Inland Northwest, as well as parts of southern British Columbia and Alberta, Spokane serves as a commercial, manufacturing, transportation, medical, shopping, and entertainment hub. In 2010, the Spokane–Spokane Valley MSA had a gross metropolitan product of $19.48 billion.

As of 2014, economic development in the Spokane area primarily focuses on promoting the following industries: manufacturing (especially aerospace manufacturing), health sciences, professional services, information science and technology, finance and insurance as well as clean technology, and digital media. To aid economic development, the eastern branch of Innovate Washington, a state-supported business incubator was placed in the city.

*Data provided by Bankrate.com - Real Estate and Wikipedia - Spokane - Washington