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OH Avg Real Estate Commission Rate in Toledo, Ohio

Toledo is a city in and the county seat of Lucas County, Ohio, United States. Toledo is in northwest Ohio, at the western end of Lake Erie bordering the state of Michigan. The city was founded by United States citizens in 1833 on the west bank of the Maumee River, and originally incorporated as part of Monroe County, Michigan Territory. It was re-founded in 1837, after conclusion of the Toledo War, when it was incorporated in Ohio.

After the 1845 completion of the Miami and Erie Canal, Toledo grew quickly; it also benefited from its position on the railway line between New York City and Chicago. The first of many glass manufacturers arrived in the 1880s, eventually earning Toledo its nickname: "The Glass City". It has since become a city with an art community, auto assembly businesses, education, healthcare, and local sports teams.

The population of Toledo as of the 2010 Census was 287,208, making it the 71st-largest city in the United States. It is the fourth-most-populous city in the U.S. state of Ohio, after Columbus, Cleveland, and Cincinnati. The Toledo metropolitan area had a 2010 population of 651,429, and was the sixth-largest metropolitan area in the state of Ohio, behind Cleveland, Columbus, Cincinnati, Dayton, and Akron.

 

Toledo, Ohio 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 Toledo, Ohio. 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 Toledo, Ohio, 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 Ohio, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Akron $139,400 6.30%
Canton-Massillon $131,000 2.20%
Cincinnati $168,600 5.00%
Cleveland-Elyria $144,800 4.90%
Columbus $197,700 8.80%
Dayton $141,800 2.20%
Toledo $127,600 2.00%
Youngstown-Warren-Boardman, OH-PA $87,000 1.90%
 
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 Ohio.

 

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 287,208 people, 119,730 households, and 68,364 families residing in the city. The population density was 3,559.4 inhabitants per square mile (1,374.3/km2). There were 138,039 housing units at an average density of 1,710.7 per square mile (660.5/km2). The racial makeup of the city was 64.8% White, 27.2% African American, 0.4% Native American, 1.1% Asian, 2.6% from other races, and 3.9% from two or more races. Hispanic or Latino of any race were 7.4% of the population (The majority are Mexican American at 5.1%.) Non-Hispanic Whites were 61.4% of the population in 2010, down from 84% in 1970.

There were 119,730 households of which 30.4% had children under the age of 18 living with them, 31.6% were married couples living together, 19.9% had a female householder with no husband present, 5.7% had a male householder with no wife present, and 42.9% were non-families. 34.8% of all households were made up of individuals and 10.7% had someone living alone who was 65 years of age or older. The average household size was 2.33 and the average family size was 3.01. There was a total of 139,871 housing units in the city, of which 10,946 (9.8%) were vacant.

The median age in the city was 34.2 years. 24% of residents were under the age of 18; 12.8% were between the ages of 18 and 24; 26.3% were from 25 to 44; 24.8% were from 45 to 64; and 12.1% were 65 years of age or older. The gender makeup of the city was 48.4% male and 51.6% female.

 

ECONOMY:

Before the industrial revolution, Toledo was important as a port city on the Great Lakes. With the advent of the automobile, the city became best known for industrial manufacturing. Both General Motors and Chrysler had factories in metropolitan Toledo, and automobile manufacturing has been important at least since Kirk, which began operations early in the 20th century. The largest employer in Toledo was Jeep for much of the 20th century. Since the late 20th century, industrial restructuring reduced the number of these well-paying jobs.

The University of Toledo is influential in the city, contributing to the prominence of healthcare as the city's biggest employer. The metro area contains four Fortune 500 companies: Dana Holding Corporation, Owens Corning, The Andersons, and Owens Illinois. HCR Manor Care is a Fortune 1000 company headquartered in Toledo. One SeaGate is the location of Fifth-Third Bank's Northwest Ohio headquarters.

*Data provided by Bankrate.com - Real Estate and Wikipedia - Toledo - Ohio