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KS Avg Real Estate Commission Rate in Topeka, Kansas

Topeka is the capital city of the U.S. state of Kansas and the seat of Shawnee County. It is situated along the Kansas River in the central part of Shawnee County, in northeast Kansas, in the Central United States. As of the 2010 census, the city population was 127,473. The Topeka Metropolitan Statistical Area, which includes Shawnee, Jackson, Jefferson, Osage, and Wabaunsee counties, had a population of 233,870 in the 2010 census.

The name Topeka is a Kansa-Osage sentence that means "place where we dug potatoes", or "a good place to dig potatoes". As a placename, Topeka was first recorded in 1826 as the Kansa name for what is now called the Kansas River. Topeka's founders chose the name in 1855 because it "was novel, of Indian origin and euphonious of sound." The mixed-blood Kansa Native American, Joseph James, called Jojim, is credited with suggesting the name of Topeka. The city, laid out in 1854, was one of the Free-State towns founded by Eastern antislavery men immediately after the passage of the Kansas–Nebraska Bill. In 1857, Topeka was chartered as a city.

The city is well known for the landmark U.S. Supreme Court case Brown v. Board of Education of Topeka, which overturned Plessy vs. Ferguson and declared racial segregation in public schools to be unconstitutional. Three ships of the U.S. Navy have been named USS Topeka after the city.

 

Topeka, Kansas 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 Topeka, Kansas. 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 Topeka, Kansas, 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 Kansas, median home prices are as follows*:

Metro Area Median Sales Price % of Annual Change
Kansas City $201,700 6.90%
Topeka $129,700 -0.10%
Wichita $135,900 -1.80%
 
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 Kansas.

 

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 127,473 people, 53,943 households, and 30,707 families residing in the city. The population density was 2,118.5 inhabitants per square mile (818.0/km2). There were 59,582 housing units at an average density of 990.2 per square mile (382.3/km2). The racial makeup of the city was 76.2% White, 11.3% African American, 1.4% Native American, 1.3% Asian, 0.1% Pacific Islander, 4.7% from other races, and 4.9% from two or more races. Hispanic or Latino of any race were 13.4% of the population. Non-Hispanic Whites were 69.7% of the population in 2010, down from 86.3% in 1970.

There were 53,943 households of which 29.5% had children under the age of 18 living with them, 37.9% were married couples living together, 14.2% had a female householder with no husband present, 4.8% had a male householder with no wife present, and 43.1% were non-families. 35.9% of all households were made up of individuals and 12% had someone living alone who was 65 years of age or older. The average household size was 2.29 and the average family size was 2.99.

In the city, the population was spread out, with 24.4% of residents under the age of 18; 9.8% between the ages of 18 and 24; 26.1% from 25 to 44; 25.4% from 45 to 64; and 14.3% who were 65 years of age or older. The median age in the city was 36 years. The gender makeup of the city was 47.8% male and 52.2% female.

 

ECONOMY:

Being the state's capital city, Topeka's largest employer is the State of Kansas—employing about 8,400 people, or 69% of the city's government workers. Altogether, government workers make up one out of every five employed persons in the city.

The educational, health and social services industry makes up the largest proportion of the working population (22.4%). The four school districts employ nearly 4,700 people, and Washburn University employs about 1,650. Three of the largest employers are Stormont-Vail HealthCare (with about 3,100 employees), St. Francis Health Center (1,800), and Colmery-O'Neil VA Hospital (900).

The retail trade employs more than a tenth of the working population (11.5%) with Wal-Mart and Dillons having the greater share. Nearly another tenth is employed in manufacturing (9.0%). Top manufacturers include Goodyear Tire and Rubber Company, Payless ShoeSource, Hill's Pet Nutrition, Frito-Lay, and Jostens Printing and Publishing. Jostens announced plans in May 2012 to move production from its Topeka facility to Clarksville, Tennessee, affecting approximately 372 employee positions. Southwest Publishing & Mailing Corporation, a smaller employer, has its headquarters in Topeka.

Other industries are finance, insurance, real estate, and rental and leasing (7.8%); professional, scientific, management, administrative, and waste management services (7.6%); arts, entertainment, recreation, accommodation and food services (7.2%); construction (6.0%); transportation and warehousing, and utilities (5.8%); and wholesale trade (3.2%). Blue Cross and Blue Shield of Kansas is the largest insurance employer, with about 1,800 employees. BNSF Railway is the largest transportation employer, with about 1,100. Westar Energy employs nearly 800. About a tenth of the working population is employed in public administration (9.9%).

Other major companies based in Topeka include:

  • Capitol Federal Savings Bank
  • Collective Brands
  • CoreFirst Bank & Trust
  • Hill's Pet Nutrition
  • Sports Car Club of America
  • Westar Energy

 

*Data provided by Bankrate.com - Real Estate and Wikipedia - Topeka - Kansas