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MO Avg Real Estate Commission Rate in St. Louis, Missouri

St. Louis is an independent city and major U.S. port in the state of Missouri, built along the western bank of the Mississippi River, which marks Missouri's border with Illinois. The city had an estimated March 22, 2018 population of 308,626 and is the cultural and economic center of the Greater St. Louis area (home to 2,807,338 people ), making it the largest metropolitan area in Missouri and the 19th-largest in the United States.

Prior to European settlement, the area was a major regional center of Native American Mississippian culture. The city of St. Louis was founded in 1764 by French fur traders Pierre Laclède and Auguste Chouteau, and named after Louis IX of France. In 1764, following France's defeat in the Seven Years' War, the area was ceded to Spain and retroceded back to France in 1800. In 1803, the United States acquired the territory as part of the Louisiana Purchase. During the 19th century, St. Louis developed as a major port on the Mississippi River. In the 1870 Census, St. Louis was ranked as the 4th-largest city in the United States. It separated from St. Louis County in 1877, becoming an independent city and limiting its own political boundaries. In 1904, it hosted the Louisiana Purchase Exposition and the Summer Olympics.

The economy of metropolitan St. Louis relies on service, manufacturing, trade, transportation of goods, and tourism. Its metro area is home to major corporations, including Anheuser-Busch, Express Scripts, Centene, Boeing Defense, Emerson, Energizer, Panera, Enterprise, Peabody Energy, Ameren, Post Holdings, Monsanto, Edward Jones, Go Jet, Purina and Sigma-Aldrich. Nine of the ten Fortune 500 companies based in Missouri are located within the St. Louis metropolitan area. This city has also become known for its growing medical, pharmaceutical and research presence. St. Louis has 2 professional sports teams: the St. Louis Cardinals of Major League Baseball and the St. Louis Blues of the National Hockey League. The city is commonly identified with the 630-foot (192 m) tall Gateway Arch in the city's downtown.

 

St. Louis, Missouri 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 St. Louis, Missouri. 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 St. Louis, Missouri, 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 Missouri, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Cape Girardeau $146,500 -1.50%
Columbia $183,000 4.80%
Kansas City $201,700 6.90%
St. Louis $174,000 2.20%
Springfield $137,000 2.90%
 
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 Missouri.

 

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:

St. Louis grew slowly until the American Civil War, when industrialization and immigration sparked a boom. Mid-19th century immigrants included many Irish and Germans; later there were immigrants from southern and eastern Europe. In the early 20th century, African American and white migrants came from the South; the former as part of the Great Migration out of rural areas of the Deep South. Many came from Mississippi and Arkansas.

After years of immigration, migration, and expansion, the city reached its peak population in 1950. That year, the Census Bureau reported St. Louis's population as 82% White and 17.9% African American. After World War II, St. Louis began losing population to the suburbs, first because of increased demand for new housing, unhappiness with city services, ease of commuting by subsidized highways, and later, white flight. St. Louis's population decline has resulted in a significant increase of abandoned residential housing units and vacant lots throughout the city proper; this blight has attracted much wildlife (such as deer and coyotes) to the many abandoned overgrown lots.

St. Louis has lost 64.0% of its population since the 1950 United States Census, the highest percent of any city that had a population of 100,000 or more at the time of the 1950 Census. Detroit, Michigan and Youngstown, Ohio are the only other cities that have had population declines of at least 60% in the same time frame. The population of the city of St. Louis has been in decline since the 1950 census; during this period the population of the St. Louis Metropolitan Area, which includes more than one county, has grown every year and continues to do so. A big factor in the decline has been the rapid increase in suburbanization.

According to the 2010 United States Census, St. Louis had 319,294 people living in 142,057 households, of which 67,488 households were families. The population density was 5,158.2 people per square mile (1,990.6/km²). About 24% of the population was 19 or younger, 9% were 20 to 24, 31% were 25 to 44, 25% were 45 to 64, and 11% were 65 or older. The median age was about 34 years.

The population was about 49.2% African American, 43.9% White (42.2% Non-Hispanic White), 2.9% Asian, 0.3% Native American/Alaska Native, and 2.4% reporting two or more races. Hispanic or Latino of any race were 3.5% of the population.

The African-American population is concentrated in the north side of the city (the area north of Delmar Boulevard is 94.0% black, compared with 35.0% in the central corridor and 26.0% in the south side of St. Louis). Among the Asian-American population in the city, the largest ethnic group is Vietnamese (0.9%), followed by Chinese (0.6%) and Indians (0.5%). The Vietnamese community has concentrated in the Dutchtown neighborhood of south St. Louis; Chinese are concentrated in the Central West End. People of Mexican descent are the largest Latino group, and make up 2.2% of St. Louis's population. They have the highest concentration in the Dutchtown, Benton Park West (Cherokee Street), and Gravois Park neighborhoods.

In 2000, the median income for a household in the city was $29,156, and the median income for a family was $32,585. Males had a median income of $31,106; females, $26,987. Per capita income was $18,108.

Some 19% of the city's housing units were vacant, and slightly less than half of these were vacant structures not for sale or rent.

In 2010, St. Louis's per-capita rates of online charitable donations and volunteerism were among the highest among major U.S. cities.

As of 2010, 91.05% (270,934) of St. Louis city residents age 5 and older spoke English at home as a primary language, while 2.86% (8,516) spoke Spanish, 0.91% (2,713) Serbo-Croat, 0.74% (2,200) Vietnamese, 0.50% (1,495) African languages, 0.50% (1,481) Chinese, and French was spoken as a main language by 0.45% (1,341) of the population over the age of five. In total, 8.95% (26,628) of St. Louis's population age 5 and older spoke a mother language other than English.

 

ECONOMY:

According to stltoday.com in 2016 GDP of the St. Louis metro area was $160 billion and in 2015 GDP was $155 billion. 2014 Gross Metropolitan Product (GMP) of St. Louis was $145.958 billion up from $144.03 in 2013, $138.403 in 2012 and $133.1 in 2011 making it the 21st-highest in the country. The St. Louis Metropolitan Area had a Per capita GDP of $48,738 in 2014 up 1.6% from 2013. This signals the growth of the St. Louis economy. According to the 2007 Economic Census, manufacturing in the city conducted nearly $11 billion in business, followed by the health care and social service industry with $3.5 billion, professional or technical services with $3.1 billion, and the retail trade with $2.5 billion. The health care sector was the biggest employer in the area with 34,000 workers, followed by administrative and support jobs, 24,000; manufacturing, 21,000, and food service, 20,000.

*Data provided by Bankrate.com - Real Estate and Wikipedia - St. Louis - Missouri